Tools and processes used by finance and FP&A (commercial management, billing, accounting, operational statistics, competitive intelligence, planning, budget, forecast, variance analysis, reporting) needs to be customized in order to achieve both efficiency and relevance. There is nothing like on the shelf tools.
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By Thorsteinn Siglaugsson, Consultant / Corporate trainer / Manager
Traditional budgeting has for a long time been criticized for encouraging counterproductive behaviour, hindering growth and wasting time on useless exercises. In recent years, the Beyond Budgeting methodology has gained ground as an alternative.
There is hardly any book on human relationships and influence that is as revered as Dale Carnegie’s ‘How to Win Friends and Influence People’. A great many leaders across the world have sworn by and largely benefited from this masterpiece.
By Karl Kern, Accountant / Lecturer / Writer
Karl Kern has a BBA degree in Accounting from Temple University, and an MBA degree with a concentration in Finance from Babson College. After graduating from Temple University Karl started a career where he has established a reputation as a problem solver. Karl’s reputation as a problem solver is based on his ability to create as well as implement initiatives that have helped organizations increase revenues, decrease expenses, and improve cash flows.Making assessments is one part of an FP&A practitioner’s work. The purpose of assessments is to stimulate learning about the relationship between processes and outcomes. How can an FP&A practitioner give meaning to assessments?
The 21st London FP&A Board will take place on the 20th of November 2018 to debate on the subject of Building FP&A of the Future.
There is no lack of discussion about the skill sets that FP&A professionals need throughout their careers to be successful; even a cursory search on the Internet would provide a wealth of resources. Broadly speaking, those articles focus on four areas of skills:
One of the biggest transformations in the finance departments recently, has been the shift for an Accountant to move from a compliance and governance based individual, to an insight driven value added business partner. In the past, accountants could get by doing monthly reporting, statutory accounts and tax returns and justify their role within an organisation.
By Andrew Codd, Founder and Lead Producer The Strength In The Numbers Show
The author Andrew Codd is the producer of the Strength in the Numbers Podcast which interviews real finance practitioners to break down their hard-won lessons and deconstruct their practical methods that work on the job and which you won't typically find in textbooks or exams so that we create more influential finance professionals worldwide who solve meaningful problems for their organisations and in return have fun, rewarding and successful careers in finance. FP&A teams have been growing in popularity because they have always known about one big thing that drove and accelerated value better than anything else, which other functions and teams sometimes forget. This is why organisations then, and even those today, need a FP&A team. So what is this one big thing?
We held our third FP&A Board meeting in Frankfurt at the historic Frankfurt Skyper Villa. This time, the interactive discussion was about Best Practices in Rolling Forecast.
The Frankfurt FP&A Board launched on 13 October 2016 and was devoted to the Latest Trends in FP&A.