There are several key components in the FP&A role. The way profitability is analysed and used to improve the business results is one of them.
These notes were made during the meeting of the FP&A Board on 16th May 2019 in London. They are a mixture of comments made by attendees and thoughts of those who presented case studies.
A financial plan is a product used for guiding people’s actions toward the accumulation of wealth. As a product a financial plan is created from a variety of sources. One source used for creating a financial plan is accounting.
The 7th Amsterdam FP&A Board was held to discuss and answer questions such as: What is Zero-based budgeting? Who is using it in their day to day practice, and to what extent? What are the benefits and challenges in implementing ZBB?
There once was a Finance manager who met a fisherman. “Could you please tell me about your life and your work?”, asks the Finance manager. “Well, I am at sea for five months and then I am home for five months”, the fisherman responds. There is a long pause. Our Finance manager is thinking hard. Something is wrong; five plus five is only ten! ”So what are you doing in the two last months?”.
A financial plan is a product used for guiding people’s actions toward the accumulation of wealth. As a product a financial plan is created from a variety of sources. One source used for creating a financial plan is economics.