Category: Business Analysis

6/11/2021

Can Accountants Do Financial Planning & Analysis?

A guest post from our partners at CFO Selections.

With an increased focus on financial planning and analysis (FP&A) in recent years, many companies have begun asking, “Do accountants do financial planning?”

For cash-strapped startups and small businesses the temptation to simply add to their accountant’s workload is strong. However, this is not a wise decision. While overloading any one role presents problems on its own, entrusting accountants with FP&A poses its own unique risks.

The differences between accounting and FP&A necessitate that it be handled by separate personnel with unique skillsets and performance objectives. Understanding what FP&A entails and what is at stake can help organizations make smart decisions about who should handle this critical responsibility.

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2/22/2021

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Financial Tools for Ecommerce Businesses

It is undeniable that top business performance requires the right financial tools and resources.

Having the right pieces in place provides better data and drives results. And while there are literally millions of online tools and apps and software programs for ecommerce companies to use, using the right financial tools can be the real differentiator between successful businesses and their competitors.

So, what kinds of ecommerce financial tools are essential?

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10/13/2020

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How to Approach Cost Cutting with Long-Term Value in Mind

cutting costs with long term value in mind

A guest post from our colleagues at CFO Selections:

When adversity hits, the knee jerk reaction is to swiftly cut spending across the entire organization, but that response is a mistake.

Strategic cost cutting can keep a business going through tough times, but it must be approached with long-term value in mind. Reducing costs should abide by three essential principals:

Do not cut anything that is required to sustain daily business operations
Do not cut costs anywhere where the long-term effects will outweigh the short-term benefits
Do not cut anything that will cost more to replace later

Evaluate your spending and determine where you can cut costs to weather tough times while still protecting critical functions, minimizing long-term expenses, spending where it could end up costing more not to do so, and looking for opportunities to reduce waste.

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10/30/2018

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The 7 Most Important Financial Reports for Small Businesses

Startups and small businesses rely on financial reporting to set benchmarks, inform operational decisions, and measure overall organizational health. However, many new business owners feel overwhelmed by the breadth of financial reporting available to them.

When small businesses utilize well-equipped financial accounting software, confusion can lead to decision paralysis.

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10/16/2018

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What Type of Business Intelligence Support Should be Expected from Accountants?

Most business owners and leaders have been a part of the growing conversation around expanding business intelligence (BI) capabilities. They understand that their businesses possess a gold mine of data that can be tapped into using BI methods to increase production efficiency, sell to consumers more effectively, capitalize on market opportunities, improve product outputs, and sustain growth.

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3/9/2018

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How to Adjust Business Drivers When Off Course

Regardless of whether your company is seeking to make it past the startup phase, strengthen its competitive position, or achieve some other goal, having a plan is a vital step in achieving organizational objectives.

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3/3/2018

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How to Monitor Business Driver Results

If your list of strategic business drivers and corresponding goals is collecting dust on a shelf, there's a good chance that your company isn't doing enough to achieve its objectives. Businesses that actively monitor their progress on their stated goals are much more likely to find success as well as receive alerts that there is something off track.

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In Pursuit of Profit

Can Accountants Do Financial Planning & Analysis?

Financial Tools for Ecommerce Businesses

How to Approach Cost Cutting with Long-Term Value in Mind

The 7 Most Important Financial Reports for Small Businesses

What Type of Business Intelligence Support Should be Expected from Accountants?

How to Adjust Business Drivers When Off Course

How to Monitor Business Driver Results

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