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  • Principles: Swipe

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    The document outlines 12 principles of FP&A (financial planning and analysis). The principles include developing a strategic long-range plan and identifying initiatives to execute it, identifying resources needed to implement plans in the budget, understanding how operational plans drive financial results and monitoring plan progress, quickly identifying reasons for variances from plans to actuals, making course adjustments when falling behind goals, cascading targets down the organization, holding people accountable for financial and operational results by linking them to incentives, identifying key performance indicators for business drivers, establishing targets for KPIs, developing initiatives to achieve KPI targets, and monitoring KPI results and linking them to incentives.

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    The document outlines 12 principles of FP&A (financial planning and analysis). The principles include developing a strategic long-range plan and identifying initiatives to execute it, identifying resources needed to implement plans in the budget, understanding how operational plans drive financial results and monitoring plan progress, quickly identifying reasons for variances from plans to actuals, making course adjustments when falling behind goals, cascading targets down the organization, holding people accountable for financial and operational results by linking them to incentives, identifying key performance indicators for business drivers, establishing targets for KPIs, developing initiatives to achieve KPI targets, and monitoring KPI results and linking them to incentives.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    3 views15 pages

    Principles: Swipe

    Uploaded by

    mohamed.mahrous1397
    The document outlines 12 principles of FP&A (financial planning and analysis). The principles include developing a strategic long-range plan and identifying initiatives to execute it, identifying resources needed to implement plans in the budget, understanding how operational plans drive financial results and monitoring plan progress, quickly identifying reasons for variances from plans to actuals, making course adjustments when falling behind goals, cascading targets down the organization, holding people accountable for financial and operational results by linking them to incentives, identifying key performance indicators for business drivers, establishing targets for KPIs, developing initiatives to achieve KPI targets, and monitoring KPI results and linking them to incentives.

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    © All Rights Reserved
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    of 15

    12 FP&A

    PRINCIPLES

    SWIPE
    FP&A PRINCIPLE 1

    Develop a strategic
    long-range plan and
    identify specific
    initiatives and
    projects/ plans to
    execute it

    linkedin.com/in/bouchernicolas
    FP&A PRINCIPLE 2

    Identify resources
    needed to implement
    projects/plans and
    put them in the
    budget

    linkedin.com/in/bouchernicolas
    FP&A PRINCIPLE 3

    Understand how
    operational plans will
    drive financial results
    and monitor progress
    of those plans

    linkedin.com/in/bouchernicolas
    FP&A PRINCIPLE 4

    Quickly identify the


    business reasons
    behind plan-to-actual
    financial variances

    linkedin.com/in/bouchernicolas
    FP&A PRINCIPLE 5

    Make course
    adjustments when
    falling behind on
    financial or
    operational goals

    linkedin.com/in/bouchernicolas
    FP&A PRINCIPLE 6

    Cascade both
    financial and
    nonfinancial
    operational targets
    down the
    organization to more
    specific targets

    linkedin.com/in/bouchernicolas
    FP&A PRINCIPLE 7

    Hold people
    accountable for
    delivering financial
    results and link to
    financial incentives.

    linkedin.com/in/bouchernicolas
    FP&A PRINCIPLE 8

    Hold people
    accountable for
    delivering operational
    results and link to
    financial incentives

    linkedin.com/in/bouchernicolas
    FP&A PRINCIPLE 9

    Identify what drives


    business success and
    develop key
    performance
    indicators (KPIs) for
    those drivers

    linkedin.com/in/bouchernicolas
    FP&A PRINCIPLE 10

    Establish long-term
    and shorter-term
    targets for the KPIs

    linkedin.com/in/bouchernicolas
    FP&A PRINCIPLE 11

    Develop initiatives
    and operational
    projects to achieve
    KPI targets

    linkedin.com/in/bouchernicolas
    FP&A PRINCIPLE 12

    Monitor results of
    KPIs and link to
    financial incentives

    linkedin.com/in/bouchernicolas
    RECAP

    Source: IMA (Institute of


    Management Accounting)

    linkedin.com/in/bouchernicolas
    THANK YOU FOR
    READING!

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