- Step 1: Understand report objectives. ...
- Step 2: Map your team's reporting process. ...
- Step 3: Collect and normalize data. ...
- Step 4: Organize information. ...
- Step 5: Create a single source of truth. ...
- Step 6: Collaborate in real time. ...
- Step 7: Review, approval, and sign-off. ...
- Step 8: House final reports in one location.
What is a FP&A platform?
Financial planning and analysis (FP&A) solutions support the office of finance's budgeting, planning and forecasting efforts.
Is FP&A considered accounting?
Accounting and FP&A are different sides of the same coin. Whereas accounting focuses on the “what”, FP&A focuses on the “why”. While they both work in the same relative role within a company, the purpose of their work is vastly different.13 oct 2020
What is FP&A in accounting?
Financial planning and analysis (FP&A) is a set of four activities that support an organization's financial health: planning and budgeting, integrated financial planning, management and performance reporting, and forecasting and modeling.
How do you become FP&A in accounting?
However, if we were asked to summarize a “common” FP&A career path, it would looks something like this: Get an undergraduate degree in accounting, spend 1-3 years in public accounting (big 4) or in accounting/finance at a Fortune 500, get an MBA and then get hired as a Senior FP&A Analyst at a Fortune 1000.