Anders Liu-Lindberg on LinkedIn: #financemaster | 14 comments (2024)

The Finance Process House.An overview of all the core processes in the finance function.21 processes for CFOs to master:1. Financial Planning & Analysis2. Financial Reporting3. Accounting4. Treasury Management5. Tax Management6. Risk Management7. Capital Allocation8. Financial Systems and Technology9. Cost Management10. Financial Compliance11. Strategic Financial Management12. Financial Communication13. Employee Benefits Management14. Financial Policy Development15. Vendor and Supplier Management16. Financial Education and Training17. Sustainability and ESG Reporting18. Financial Analytics and Business Intelligence19. Asset Management20. Cash Handling and Banking21. Regulatory ComplianceIt's a tough job to manage these just on a high level yet each can be divided into subprocesses that require a whole specialism in their own right.CFOs can manage these successfully without a great team to back them up.Each team is a brick which is crucial to the stability and performance of the house.If one team starts to struggle it may just impact the whole house (finance function).What are you doing to manage all these processes in your company?Do you even cover all of them?Did we miss any key processes in this overview?----------🧑💼 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 of my content, hit the bell on my profile📻 Find our#FinanceMasterpodcast on your channel📄 Check out all our templates and cheat sheets here: https://lnkd.in/eC_zuCU4

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Interesting overview. How many of those do you have oversight or control of as a finance leader and how many are with other departments?

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The visual Blueprint of the Office of the CFO from Oana Labes. (See Below)Yes, not every organization has a person or a team in every box. But the topics, skill sets, and priorities that are applicable to that business are always important and must be managed well. Oana’s summary includes insights and purpose for the three primary functions of the CFO…controlling, treasury, and FP&A. The chart serves as a reminder of the accounting, finance, budgeting, forecasting, risk, audit, compliance, reporting, planning, cash, currency, banking, investment, and the types of analysis required for each. Such a chart serves both financial and nonfinancial managers/leaders in an organization. It is one more tool to inform and clarify process, priorities, and communication chains. Organizations who have clear, complete, and updated organization charts, job descriptions, scheduled individual and company performance reports, and routine oral (live, broadcast, taped) communications from senior company leadership perform at higher growth and profit levels than those in similar organizations who choose not to maintain and provide such documents and presentations. While many factors determine an organizations growth and profit, internal organizational clarity and communications are critical and not optional for maximized organizational performance. #ThoughtThinkers4You

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Ever wondered how the magic 🎩💫 happens in the finance department? As a CFO, I'm in the trenches, making pivotal decisions daily ☕️💪.Let's unravel this mystery. Here's how a CFO adds value:1. Strategic Planning 🗺️:We're the navigators, crafting financial strategies that align with business goals 🎯.2. Financial Reporting 📑:Reading financial reports? That's our bedtime story 📖. We've got our fingers on the financial pulse of the company, enabling informed decisions 🧠.3. Risk Management 🛡️:Risk? We eat it for breakfast 🍳. We manage financial risks to ensure business sustainability 🌳.4. Investor Relations 👥:We're the bridge connecting the company to investors, maintaining those vital relationships 💼.5. Cost-Benefit Analysis 📊:Deciding where to invest? We evaluate and provide insights, guiding capital allocation 💰.It's a whirlwind of challenge and triumph in the finance department, providing great learning while adding substantial value across the board 🏆.P.S. Check out the attached infographic for an even more detailed explanation. It's quite the eye-opener 👀!So, next time you see your CFO, remember we're here making those gears turn⚙️, ensuring your company's financial health and growth 🚀.

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Do you have a view of all the processes you should be managing in your finance function?Introducing the CFO's Finance Process House...21 core processes for the CFO to run:1. Financial Planning & Analysis2. Financial Reporting3. Accounting4. Treasury Management5. Tax Management6. Risk Management7. Capital Allocation8. Financial Systems and Technology9. Cost Management10. Financial Compliance11. Strategic Financial Management12. Financial Communication13. Employee Benefits Management14. Financial Policy Development15. Vendor and Supplier Management16. Financial Education and Training17. Sustainability and ESG Reporting18. Financial Analytics and Business Intelligence19. Asset Management20. Cash Handling and Banking21. Regulatory ComplianceEach process is a specialism in itself and can be expanded into several subprocesses.It sure is a lot for the CFO to manage and s/he'll need a great team to do so!And just like in a real house, if just a few bricks start to crumble the whole house can easily fall.How are you managing all these processes in your company?Are there any processes you don't cover?Are there any processes that are missing from this overview?----------🧑💼 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 of my content, hit the bell on my profile📻 Find our#FinanceMasterpodcast on your podcast channel

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#The_finance_process_house is a dynamic #framework that can be adapted to meet the specific needs of each #organization. It is important to note that there is no #one-size-fits-all approach to implementing the #finance_process house. The best #approach will vary depending on the size, #industry, and #complexity of the #organization.the key steps involved:-#Identify_financial_goals#Develop_a_financial_plan #Create_a_forecasting_process#Implement_a_reporting_system#Develop_an_analytical_process

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Ever wondered about the difference between a CFO and a CPA? Let's break it down!👩💼 **CFO (Chief Financial Officer):**As the financial strategist, the CFO is the maestro of a company's financial orchestra. They conduct the financial symphony, focusing on the big picture. CFOs are masterminds of financial planning, risk management, and strategic decision-making. They're the architects of long-term financial success, steering the ship toward profitability.🔍 **Key Responsibilities:**- Strategic Financial Planning- Risk Management- Budgeting and Forecasting- Business Analytics- Capital Structure Management💡 **Analogy: Think of the CFO as the visionary architect shaping the financial future of the company.👨💼 **CPA (Certified Public Accountant):**Meet the meticulous number-cruncher! CPAs are the detail-oriented experts who ensure financial accuracy and compliance. They are the guardians of precision in accounting records, tax filings, and financial reports. CPAs are like financial detectives, meticulously examining the books to ensure everything adds up perfectly.🔍 **Key Responsibilities:**- Auditing- Tax Preparation and Compliance- Financial Reporting- Record Keeping- Compliance Assurance💡 **Analogy: The CPA is the detective, ensuring every financial detail aligns seamlessly.In essence, while the CFO steers the ship toward financial success, the CPA ensures that every financial note is in perfect harmony. Both are essential for a financially sound and successful business. 💼✨Have questions about your business's financial strategy or need assistance with accounting precision? Feel free to reach out! 🤝Book a FREE Discovery Call: https://lnkd.in/eiEwniB4#FinancialExperts #BusinessSuccess

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With a proven track record of optimizing financial performance, Fiscale Advisors brings expert financial guidance to businesses seeking strategic financial leadership without the full-time commitment. 📈💡🔍 Explore the benefits of Fractional CFO services:✅ Cost-Effective Financial Expertise✅ Strategic Financial Planning✅ Risk Management & Compliance✅ Cash Flow Optimization✅ Proactive Decision Support✅ Month End close✅ Full Financial Statement Preparation along with customized financial reports and analysis.Ready to elevate your financial game? Best part is you not only retain a CFO when working with us you retain a Controller and an Accounting Manager. All for less then the cost of a full time Staff Accountant 🚀🌐 #FractionalCFO #FinancialStrategy #BusinessOptimization #FinanceLeadership #StrategicPlanning #ConsultingExcellence

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The Ultimate CFO Checklist!Go here to download the FREE PDF version: https://lnkd.in/e_7WD9k7Here are 1,000 tasks split into 100 checklists for CFOs to improve the finance function.We cover how to improve the following areas of the finance function:1. Financial Planning & Analysis2. Financial Reporting3. Risk Management4. Cash Management5. Capital Management6. Tax Management7. Investor Relations8. Corporate Governance9. Strategic Planning10. Leadership & ManagementHere's an example of the sub-processes we cover in Financial Reporting:1. Financial statements2. External reporting3. Internal reporting4. Financial data analysis5. Variance analysis6. Regulatory compliance7. Disclosure documentation8. Financial data integrity9. Internal controls10. Stakeholder communicationHere's an example of the tasks we suggest to improve financial statements:1. Prepare accurate and timely financial statements2. Ensure compliance with accounting standards3. Review balance sheets, income, and cash flow statements4. Consolidate financial statements for multi-entity5. Maintain historical financial records6. Assess the accuracy of financial data and reporting7. Report on changes in accounting policies and estimates8. Facilitate external audits and reviews9. Ensure the proper classification of items on financial statements10. Communicate financial performance to stakeholdersMaybe you cover all these tasks somehow but do you have improvement initiatives backing all of them?Most CFOs and senior finance leaders have not.Now is the time to change that with an overview of 1,000 tasks for CFOs to improve the finance function.Don't forget to go and grab your free PDF copy.Do you find this overview helpful?Is there anything you would add or you think we missed?----------🧑💼 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 of my content, hit the bell on my profile📻 Find our #FinanceMaster podcast on your channel📄 Check out all our templates and cheat sheets here: https://lnkd.in/eC_zuCU4

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