The purpose of a statement of cash flows is to describe how businesses receive and spend money.  This purpose is seen as an end result of financial planning but this purpose can be seen as a starting point of financial planning.  As a starting point of financial planning, people should think about how to accumulate wealth from the receipt and disbursement of cash.

Data management is a business function that, in my opinion, every company should have. Still, often it is not the case. Managing data means that everybody in a company knows what data they (can) get and have a good understanding of what can it can be used for. It also means receiving data when and where it is needed. And finally, producing and working with data of acceptable quality.

In 2019, FP&A Trends Group is planning a number of compelling webinars about best practices in modern FP&A. The first one in 2019 was devoted to an interesting subject — "FP&A Transformation through Effective Organisational Structure".

In Part 1 of this article, we explained the data challenges faced by FP&A as well as how the expectations of the FP&A user community has evolved through the generations. In this article, we will explain how the boundaries have changed and the implementation framework.