Financial Planning, FP&A, FP & A, Financial Reports, Budgets, Forecasts, Variance, Actual, Comparison, Financial Statements, Projections, Scenarios

1. 1. What is FP&A
2. Position in the Organizational Chart
3. Education background / Foundation for FP&A
3. Educational Background
4. FP&A Consists of . . .
5. Examples of FP&A Reports
6. FP&A – techniques and methods
8. Starting FP&A
7. Future of FP&A
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2. Highest Level of formal
education by Financial
Planning and Analysis
(FP&A) professionals
surveyed in the U.S.
Associate degree
Undergraduate
degree
Bachelors
degree
Post graduate
degree
3.1 Present FP&A - Formal Education

3. 3.2 FP&A Approaches to Organizational Position

4. This realm includes looking at the future.
While accounting covers past and present
FP&A (so-called) looks to making it
happen - consider the objectives of a
business (a group, company,
conglomerate).
This arena is under the responsibility of the
CFO – who looks to the future rather
than the past.
The CFO should prioritize = making it
happen.
3.3 Interaction with FP&A

5. A lack of a clear definition of FP&A professionals’ roles and responsibilities has
also resulted in many hiring managers listing openings for FP&A roles under the
blanket of financial analyst.
“In the job market itself, it feels like there is a lack of a clear definition of what
FP&A is, so you see in postings, jobs that should be listed as FP&A based on
their responsibilities but that are simply listed as a financial analyst,” said Bill
Sayer, Manager, FP&A, Crump Life Insurance Service Inc.
“That is because the person doing the posting or the hiring manager describing
the responsibilities isn’t aware of what FP&A does. So that creates some
confusion for candidates that identify themselves as being in FP&A positions.”
3.4 FP&A role is Confused?

6. 3.5 How does the FPAC “CFA”
credential compare with CPA or
CMA?
All of these rigorous credentials demand time,
experience and a commitment-to-career
If you want a career in investment analysis and
portfolio management, then the CFA may be right
If you are looking to a career that has a heavy
accounting, reporting, compliance or controller, then
the CPA or CMA may be the best fit
If you already have one of these credentials, then
adding the CFA credential can be a useful
complement — and you may be able to waive Part I
of the CFA Exams

7. What's the right education for FP&A?
Many FP&A professionals are CA’s or CPA’s and might have previously worked in public auditing with a big four firm or in
accounting and reporting roles within companies
However, recently, an MBA with financial (STEM type) majors has proven to be relevant and rewarding
Technical experience may be more important than passing technical exams
What are the, optimally, top skills for FP&A?
Regardless of education, a successful career as a financial analyst requires:
1. strong quantitative skills
2. expert problem-solving abilities
3. adeptness in the use of logic
4. communication skills
3.6 Do you need a CPA for FP&A?

8. 3.7 Skills for Entry FP&A?

9. 3.8 Recruiters look for – (junior position)
Recruiters typically look for candidates with:
• business acumen
• planning skills
• ability to deal with financial models and handle complex numbers
Here are some of the qualities interviewers will be searching for:
• Analytical skills
• Communication skills
• Problem-solving skills
• Attention to detail
• Technical skills
There are a variety of tools — from software to programming languages
— such as Microsoft Excel, SQL, QuickBooks, and SAP.
They may also have to learn new software in the course of the job
— so interviewers are not just looking to hear about what you already know, they want to see
that you can pick up new tools if needed

10. Competencies needed in today's FP&A teams include:
• Technical accounting and finance skills
• Strategic and critical thinking
• Communication (and presentation) abilities
• Tech Savvy Data analytics
• Innovation and Inspiration
• Anticipating and serving evolving needs
3.9 What Skills are needed for FP&A?
Of course, if they are to help out in the accounting dept, they will need the
relevant ability to do that!

11. So what background does an FP&A path require –
probably a broader, well-rounded in-depth experience than the typical Controller or
Treasurer
Formal qualifications: Accounting (preferably CPA), however an MBA is
emerging as just as important
Experience: Might be wider and deeper resulting in in-sight and judgement
Technical ability: Advanced Excel is a must - plus other tools (SQL) and BI
applications
Caveat – don’t be fooled by a technical ability with the tools – just because a person is
familiar with certain tools does not mean they can use them insightfully – the
challenge remains
Ask the question “So what does that mean?” “What should we do?”
As the level of FP&A activities rise, the answers get closer to C-level decisions!
3.10 What Skills are needed for FP&A? (Cont 1)

12. Skill sets demanded v supply available
3.11 Skill sets for FP&A?
Data
Scientist
Accountant
Overlap =
the few
2nd slide on
this topic
Can 1 person do everything?

13.  IT people instead of Accountants
 Lack of structural position/status
 Ad hoc development
 Lack of ‘Best Practices’
 Mish-mash of qualifications/experience
3.9 What difficulties have FP&A Experienced?

14. IS YOUR LIFE
NOW CHANGED?
The End

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