This is one of a series of three blogs – assessing some of the predictions about the future role of finance. The other two blogs focus on the skills needed for the digital world, one covering technical/digital knowledge and the other covering soft skills.
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FP&A Insights is a collection of useful case studies from leading international companies and thought leadership insights from FP&A experts. We aim to help you keep track of the best practices in modern FP&A, recognise changes in the ever-evolving world of financial planning and analysis and be well equipped to deal with them.
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When creating a driver-based model, it is important to produce one that is not overly detailed or complex but one that is accurate and actionable. Avoid complexity by adding variables if they do not provide analytical benefit. Starting with the chart of accounts is not a good idea. The model should focus on key performance drivers.
The UK left the EU on Friday 31st January 2020, with mixed emotions, and eleven months of colossal negotiations on a trade deal ahead. Business is also conflicted, with many concerns, but overall the reduction of political uncertainty has fostered a return to optimism.
A budget expresses thoughts with numbers. Numbers can be financial like income and cash flow or non-financial like time and volume. Expressing thoughts with financial and non-financial numbers can be done through a variety of methods. One method is zero based budgeting which like all methods has strengths and weaknesses. The purpose of this article is to examine the strengths and weaknesses of zero based budgeting.
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