Cost Accounting provides insight into the relationship between financial sacrifices and financial benefits. There are a number of elements within this discipline that support this relationship. FP&A stimulates thinking about activities that create sacrifices in order to create benefits. These activities develop a framework for understanding what organizations are doing and where they are going.  The question is: which element of Cost Accounting develops a meaningful framework that links activities to understanding?

This article addresses technology in FP&A. In his book "THE INNOVATORS" Walter Isaacson describes two ways of utilizing technology.  One way is artificial intelligence, machines thinking on their own.  Another way is augmented intelligence, people using machines to help organize information.

In his book THINKING, FAST AND SLOW Daniel Kahneman describes two schools of psychology within the study of decision making. Clinical psychologists advocate the use of methods like heuristics (rules of thumb) and intuition for making decisions. Statistical psychologists, on the other hand, advocate the use of methods like simple algorithms or formulas for making decisions.

Criticism is defined as “the expression of disapproval of something based on perceived mistakes.”  FP&A is a learning process that creates insight into what organizations are doing and where they are going. Processes are not perfect; mistakes are likely to occur.  As a result, FP&A practitioners need to recognize that their work is subject to criticism.