For organizations with annual expense budgets, it is important to have procedures for monitoring expenditures and budget items throughout the year. This article visually describes how to use statistical forecasting models, uncertainty ranges and space forecasting models for this purpose.
FP&A Insights
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.
Stay tuned for more blogs and articles from great authors.
If done correctly, Strategic Finance can represent an immense value-add to your organization while at the same time, reduce the costly time and effort of the Budgeting process. Make a conscious effort to consider these seven essential tips and will see the benefits.
Considering forecasting as an exercise to assess future financial performance as accurately as possible through a bottom-up approach based on actual facts, it appears necessary for an Organisation to become conscious of its own culture.
By Karl Kern, Accountant / Lecturer / Writer
Making predictions is an important part of our work as FP&A practitioners. Its importance is due to need but need can be hindered due to incomplete knowledge.