Financial model definitions can be tricky. Financial models are often dependent upon numerous functional areas and academic disciplines, such as accounting, finance and statistics. These disciplines may have differing uses of the same terminology. Model risk management has also drawn on numerous disciplines in its evolution.
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It’s the middle of the year and it’s time to take charge of your “data destiny” before the budgeting and planning season starts. What exactly is your data destiny? No, it’s not the new Netrunner card game where the objective is to control all the data in the Universe.
Many sophisticated business environments use budgets as a bridge between actual and forecast. Within the corporate finance domain, budgets are used to allocate resources and provide a starting point for current and future period estimates.
Through the financial crisis, the advent of drill down database capabilities and with direction from the Federal government, financial modeling is evolving into both a defined art and science.
The Value Cycle is our approach at redefining FP&A’s role in the organization. To take a leadership position influencing the direction and outcome. It is our role to help facilitate this process by taking the insight that we have generated and converting this into more long-term strategic thinking.
The next meeting of Singapore FP&A Board is proudly sponsored by:
As a former public accounting auditor, I have been through my fair share of busy seasons which usually ran from September to April. For me, this was a character-building and learning opportunity that I am privileged and thankful that I got to experience in my career. However, like most, I realized this was not what I wanted to do long term.
FP&A Trends Group is a high-profile think tank whose mission is to identify and share the latest trends and best practices in modern Financial Planning and Analysis (FP&A). UK-based but highly international in nature, we are a one-stop shop for all things FP&A.
Today's controller is confronted with two developments: on one hand, increasing usage of mobile applications for all employees, steady growth of IT-supported operational resource planning systems and the hype towards Big Data result in an increasing volume of direct business information. On the other hand, more and more detailed accounting standards and higher requirements for compliance and governance enforce heavier control activities.
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