Thread by @LiuLindberg

Here are 99 checks that CFOs wish their FP&A teams would follow 🧵

We've split the 99 checks across all the main areas of responsibility of an FP&A team.

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In the checklist, we cover the following areas...

1. Budgeting & Forecasting
2. Financial Analysis
3. Strategic Planning
4. Resource Allocation
5. Decision Support
6. Performance Reporting
7. Cost Management
8. Scenario Planning
9. Data Management & Tech
10. Comms & Collabs

1/10 Budgeting and Forecasting

1. Define the timeline and process
2. Gather input and create templates
3. Develop revenue projections
4.....

2/10 Financial Analysis

1. Identify KPIs
2. Collect data from appropriate sources
3. Calculate ratios to assess performance
4.....

3/10 Strategic Planning

1. Understand strategic options
2. Qualify and quantify financial implications
3. Develop financial models to predict outcomes
4......

4/10 Resource Allocation

1. Understand the resource needs of business leaders
2. Evaluate their projects using NPV, IRR, etc.
3. Rank project according to expected returns
4.....

5/10 Decision Support

1. Work cross-functionally to understand decisions
2. Provide financial data to support decisions
3. Evaluate potential of different decisions
4.....

6/10 Performance Reporting

1. Define frequency, format, and content
2. Gather accurate and up-to-date financials
3. Create dashboards to communicate metrics
4.....

7/10 Cost Management

1. Understand cost structures and expense drivers
2. Identify areas for potential improvements
3. Analyze historical costs data to see trends
4.....

8/10 Scenario Planning

1. Identify relevant internal and external factors
2. Develop a range of scenarios
3. Quantify the financial implications of each
4.....

9/10 Data Management & Technology

1. Regularly update financials models and tools
2. Ensure data accuracy through frequent validation
3. Explore and implement new technologies
4....

10/10 Communication & Collaboration

1. Establish clear communication channels
2. Interact cross-functionally to understand needs
3. Provide financial analysis across the company
4....

Any areas of the FP&A team you think we haven't covered?

Any checks you'd like to add to any of the ten areas?

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That's a wrap!

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