Most professionals working in the FP&A discipline have degrees in finance or accounting and previously worked as accountants or auditors. The transition from such backend core finance functions to a highly business focused partnering function is one that requires certain shifts in mind-set as well as skillset. Below is a discussion attempting to highlight some of the key ones.
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Organisations often struggle to find a balance between their long-term strategic objectives and short-term goals. Being a key player in an organization’s strategy setting and budgeting process, FP&A professionals also face this dilemma as a part of their roles.
There is hardly any book on human relationships and influence that is as revered as Dale Carnegie’s ‘How to Win Friends and Influence People’. A great many leaders across the world have sworn by and largely benefited from this masterpiece.
Every large organization in the world today, from Apple to P&G and from Ford to Goldman Sachs has a dedicated Financial Planning & Analysis team with bespectacled finance professionals claiming to be “more than mere accountants” or even “value-adding business partners”. What is FP&A and why has it become arguably the most important function in a company’s finance organization?