Anders Liu-Lindberg on LinkedIn: #finance #cfo #accountingandaccountants #careers #financemaster (2024)

The CFOs Guide to Financial Planning & Analysis.Here are the ten most important activities for the CFO to succeed with FP&A:1️⃣ SET CLEAR GOALS AND OBJECTIVESBegin by setting clear financial goals and objectives for the organization.These should align with the overall strategic objectives.2️⃣ DEVELOP A COMPREHENSIVE BUDGET PROCESSImplement a budgeting process that involves collaboration with other departments.This should include gathering relevant data, setting realistic targets, and regularly monitoring performance.3️⃣ IMPLEMENT FORECASTING AND SCENARIO ANALYSISIncorporate forecasting techniques to anticipate potential financial outcomes.This involves analyzing historical data, market trends, and key drivers to generate reliable projections.4️⃣ MONITOR AND ANALYZE FINANCIAL PERFORMANCEEstablish key performance indicators (KPIs) to monitor financial performance.Conduct variance analysis to compare actual results against the budget and investigate deviations.5️⃣ USE TECHNOLOGY AND FINANCIAL TOOLSLeverage FP&A software and tools to streamline processes, enhance accuracy, and improve efficiency.The tools assist with data collection, modeling, reporting, and data visualization and provide valuable insights.6️⃣ COLLABORATE WITH OTHER DEPARTMENTSFoster collaboration with other departments, such as operations, sales, and marketing.This helps in accurate forecasting and effective resource allocation.7️⃣ DO SENSITIVITY ANALYSIS AND RISK ASSESSMENTSPerform sensitivity analysis to evaluate the impact of changing variables and assumptions on financial outcomes.Assess and manage financial risks by implementing risk mitigation strategies.8️⃣ COMMUNICATE EFFECTIVELYPresent financial analysis and reports in a clear, concise, and understandable manner.Tailor the communication of financial information to different stakeholders.9️⃣ STAY UPDATED WITH MARKET AND INDUSTRY TRENDSContinuously monitor market trends and industry dynamics that can impact the organization's financial planning.This will help to address emerging challenges and capitalize on opportunities.🔟 CONTINUOUSLY LEARN AND IMPROVEFoster a culture of continuous improvement within the team.Encourage professional development for the finance team and seek feedback for self-improvement.----------To track and monitor the effectiveness of FP&A consider using these ten KPIs...✅ Budget variance✅ Forecast accuracy✅ Financial ratios✅ Return on investment✅ Cash flow forecast accuracy✅ Cost Control✅ FP&A cycle time✅ Stakeholder satisfaction✅ Revenue growth✅ Risk management effectiveness----------What would you add to this guide to help the CFO succeed with FP&A?#finance #accountingandaccountants #cfo #careers----------🧑💼 I'm a partner at Business Partnering Institute🆘 Need immediate help in your finance team, call us!🤝 We help increase the influence of your finance team🔔 To see more content ring the bell on my profile

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#financeinsights This is probably one of the most common questions when it comes to #financialplanning 💡 How can we differentiate #budgeting from #forecasting? Lucky you, Tejas Parikh (ACMA, MBA) and Akshar Business Consulting Ltd are here to share #freeknowledge to get ready for 2024! 🗓 Metrics and purposes can be connected, but they are not the same. Remember these tips to make better and smarter decisions:🎯 Budgets: specific goals / Forecasting: can we achieve them during this proposed time frame? ⏳ Forecasting: Frequently done / Budgets: specific moments, not more than once, twice, or quarterly📚 Content is differentDo you want to know more? We're happy to talk! Feel free to use this link to schedule a quick call and let's see how we can improve your #financialplanning ASAP! https://lnkd.in/dsKBa2fCAnd, of course, don't forget to visit https://lnkd.in/dUMnFpV2 for more content for financial leaders like yourself!#finance #business #money #planning #time #holidays #budget #forecast #financement #b2b #tools #management Financial Planning Association (FPA)

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Budgeting vs. Forecasting

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📈 Unlock Business Growth with Expert Financial Reporting! 🚀📊 Good reports provide insights into your business's efficiency, helping you tackle challenges and seize growth opportunities. Regular, informed decisions based on robust data are key to rapid progress. 🌟However, most businesses have limited reporting systems, hindering their potential for quick expansion. 📉🔍 Importance of Reporting:Retrospective Analysis: Understand past performance to improve future strategies.Future Forecasting: Anticipate and prepare for upcoming trends and changes.📋 What Are Management Reports? Management reports are decision-making tools. They go beyond basic P&L and Balance Sheet analysis, offering deeper insights into your business dynamics.🛠️ Elevate Your Reporting:Analyze product profitability to optimize your offerings.Develop a flexible 3-year financial model (P&L, Cash Flow, Balance Sheet).Create a strategic 3-year plan based on your analysis.Conduct monthly reviews to refine your approach. 🤝Need Professional Guidance? Many SMEs lack the expertise for these steps. That's where a part-time CFO from The CFO Centre comes in. We offer comprehensive support, not just in traditional financial areas but also in aligning your business goals with your personal aspirations.Contact 1300 447 747 to gain access to top-tier CFO experience at a fraction of the cost.Empower your decision-making with confidence and clarity, driving your business towards greater success. 💼✨Find out more:https://bit.ly/3ODABdH #BusinessGrowth #FinancialManagement #ExpertAdvice #TheCFOCentre

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📢 Exciting topic alert: Variance Analysis and Performance Reporting in Financial Planning & Analysis (FP&A) 📊Variance analysis is a crucial tool in FP&A that helps organizations compare actual financial results with the budgeted or forecasted figures. By identifying and explaining the differences, variance analysis provides valuable insights for performance evaluation and decision-making. Let's dive into this topic and discover its significance! 💡Variance analysis allows us to dig deeper into the "why" behind the numbers. It helps us understand the root causes of variations, whether positive or negative, and their implications for business performance. By analyzing these variances, organizations can take proactive measures to capitalize on favorable outcomes or address challenges swiftly. #VarianceAnalysisWhen conducting variance analysis, it's important to consider both quantitative and qualitative factors. Quantitatively, we examine line items such as sales revenue, expenses, and profit margins to identify significant deviations. This helps us understand how various business drivers impact financial performance. On the qualitative side, we explore non-financial factors like market trends, competition, or internal operational changes that may have influenced the results. #QuantitativeAnalysis #QualitativeAnalysisTo make variance analysis even more effective, it's essential to establish meaningful benchmarks. These benchmarks can be historical performance, industry standards, or targets set during the budgeting and forecasting process. By comparing actual results against these benchmarks, we gain a clearer picture of the extent to which performance aligns with expectations. It also helps us identify areas that require attention or improvement. #BenchmarkingOnce variances are identified, it's crucial to communicate them effectively through performance reporting. Clear and concise reports enable stakeholders to comprehend the financial story behind the numbers. Visualizations such as charts, graphs, and dashboards can enhance the clarity and impact of these reports. Additionally, the reports should highlight the key drivers of variances, enabling stakeholders to make informed decisions and take appropriate actions. #PerformanceReporting #DataVisualizationVariance analysis and performance reporting go hand in hand, enabling organizations to monitor progress, evaluate performance against objectives, and drive continuous improvement. It provides insights into operational efficiency, revenue generation, cost control, and overall financial health. By leveraging variance analysis effectively, organizations can enhance their ability to adapt, innovate, and achieve sustainable growth. #FP&A #PerformanceEvaluationShare your experiences and insights below! Let's exchange knowledge and empower each other in the world of financial planning and analysis. 👇💼📈 #VarianceAnalysis #PerformanceReporting #financialplanningandanalysis

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"Skilled FP&A advisors use deliverables as tools to drive continual improvement." - Jarred Liscio, Senior Associate at WissThis is a quick read and highlights the four major advantages of financial planning and analysis:- enhanced visibility- accountability- improved decision-making- greater risk management#wissllp #finance #financialplanning #data

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Annual budgeting is one of the most arduous tasks for CFOs. This time around presents unique challenges: the overall financial picture remains murky at best, with elevated interest rates and corresponding price hikes straining the budgets of individuals and businesses alike. Therefore, CFOs need to get the right process in place. Part of applying the “right process” means implementing the technology and data analytics solution needed to not only address immediate budgeting needs, but to provide a path forward for the continuous forecasting and analysis that are especially critical in a volatile economy. Accordion's Sanjeev Parlikar shares his 3-Step Budgeting Framework with CFO.com.

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Mr. Ravi S, an expert in finance and strategy, has written a thought-provoking article published on BW CFO World, highlighting The role of the CFO in the organization is changing and transforming. The new global order, regulatory challenges, advent of tech and fluctuating financial cycles in the 21st century and the current decade, in particular, are transforming the definition of CFO from Chief Financial Officer to Chief Futuristic Officer Highly recommend this article to anyone interested in staying current with the latest trends and insights in the world of finance. Please take a moment to read the full article by clicking on the link below: https://lnkd.in/gugpnY_fAnnurag Batra Tanvie Ahuja Noor Fathima WarsiaReeti Gupta Akash pandey #finance #strategy #tech

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Planning your budgets and forecasts for the upcoming year? Forbes Finance Council's latest article features insights from Summit Virtual CFO's Jody Grunden#SummitVCFO #VirtualCFO #Forecasting

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Planning your budgets and forecasts for the upcoming year? Forbes Finance Council's latest article features insights from Summit Virtual CFO's Jody Grunden#SummitVCFO #VirtualCFO #Forecasting