Top FP&A Challenges Facing Today’s Professionals
Every day, companies face a myriad of challenges. Within those companies are departments that are struggling to perform because of roadblocks that get in the way of their ability to perform.
Every day, companies face a myriad of challenges. Within those companies are departments that are struggling to perform because of roadblocks that get in the way of their ability to perform.
Even though financial analysts work with numbers, there’s so much more to the FP&A function than counting dollars and cents. Unlike accountants who frequently operate from a transactional and rules mindset, financial planning and analysis (FP&A) professionals have a mindset that is deeply analytical.
A solid grasp of financials is essential for every business, whether that business is a one-person operation or a major enterprise. However, many companies, especially small businesses, may lack someone with the experience and expertise necessary to effectively execute the company’s financial strategy.
I have talked previously about how to make the transition from accounting to FP&A. This is an important point because many FP&A professionals come from accounting backgrounds, including Certified Public Accountants (CPAs) and Certified Managerial Accountants (CMAs).