We’ve all come across checkpoints in our personal lives where we commonly think about or use phrases such as “let’s take a few steps back”, “I need to reset things” and “let’s start all over again”.

P&L management focuses on the items included into P&L (profit and loss) report. It has become an increasingly popular technique used by the top managers around the world. P&L responsibility scope goes far beyond being simply responsible for profits or loss. Managers must not only understand what stands behind and drives each item of the report, but also need to take steps to improve P&L statements.

Back in 2004 I spent a large portion of time overseas travelling around France. I would often find when talking to a “local” the first question I would ask was:  “Do you speak English?” Most times, the response I got was a short, sharp “No!”

I was recently invited to join FP&A-Trends’ Artificial Intelligence/Machine Learning (AI/ML) Committee by Larysa Melnychuk, managing director. This blog is based on a case study presented at the June 2018 meeting.