How to Define Value Drivers – a Simple Technique for Business Strategy and Performance Measurement

Getting business strategy right is not easy. The definition of strategy is simple enough: “a plan of action to achieve an aspiration or overcome a problem”. And the process of arriving at the plan sounds so easy: define the objective (vision, aspiration, problem), assess the current state and therefore the gaps, and decide how to…

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Driver Based Planning & Forecasting in the Context of FP&A

This article is written by financial modelling specialist, Lance Rubin. You can find more of Lance’s work at https://www.modelcitizn.com/ BACKGROUND When I first came across the term driver based planning and forecasting I was confused. As an ex-investment banker having joined a Finance team the concept of drivers when talking about a forecast or plan was…

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Why Business Needs More Boring Accountants

honesty in accounting is what business needs

When I came out of public practice and went to work for a business in their Finance team, I was fairly naïve. I still had a very black and white view – an auditors view – of accounting. And so, some of the practices of the management accountants were a real shock to me. My…

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How to Develop KPIs That More Than Count

How to develop Key Performance Indicators that explicitly link through strategy

This article looks at how to go about developing Key Performance Indicators (KPIs). If you’re interested in this topic enough to start reading, you’ll know that KPIs give you a richer view of performance than the normal accounting stuff that we produce in Finance. You’re also probably painfully aware that there are so many metrics…

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Managing Financial Reporting Like a Football Match

managing financial reporting like football

How do you motivate a Financial Reporting team to go through the stress and pressure of “month end” and be happy about it? How do you stop it becoming a monthly grind that makes them curse the day they decided to train as an accountant? I once took up an interim position heading up Group…

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Business Performance Reporting – It’s Not All About the P&L

dashboard

If you are going to be successful in managing your business, you need measurement. You need facts that tell you how well you are doing and where you need to improve. And those measures of business performance are much broader than just financial measures, such as profit, cash, margins, etc, however important they are. Performance reporting…

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