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What Is Financial Planning & Analysis Role?
Working in multiple companies and roles (eg. finance, accounting, budget controller, and financial planning) gives you broader knowledge as a finance person to support business growing. The amount of accumulated experiences help you to translate any financial metrics to various business unit that are usually so technical (for them).
Quoted from Geetanjali Tandon, a SVP of Financial Planning & Analysis (FP&A) at Ceridian, “A weekly commentary on some of the latest news is an example of where FP&A teams are part of the strategic business decision making” (paraphrased). This statement is one way of how to describe the important role of FP&A is.
Right away, I summarize the role into having only some responsibilities and evolving around them. They are:
Constructing financial budget
It’s very often, this role build a not only financial budget, but also helping a lot business unit in preparing operational budget. The main skill required in this area is financial modelling and financial analysis. It is required to prepare not only incorporating operational KPI, as a source of operational budget or target, but also consolidating it to the financial report such as profit and loss, balance sheet, and cash flow.
