Week 1 of Typical FP&A Calendar: A Comprehensive Guide for FP&A Professionals Part 1 of 4

Financial Planning & Analysis (FP&A) is a critical function in any organization. It provides the data, insights, and analysis needed to make informed business decisions. For FP&A professionals, managing their day-to-day tasks can be challenging. To stay organized and on top of all their responsibilities, they need an effective monthly calendar system.

This guide will provide a comprehensive overview of how to create and use a typical FP&A monthly calendar for optimal productivity.

In this discussion, we will explain the significance of having an FP&A calendar, what it should contain, and how to keep it updated for optimum efficiency in your role as an FP&A professional.

Why is it important to have an FP&A Calendar?

Having a well-defined calendar enables the team to anticipate upcoming tasks, plan ahead, and allocate resources effectively in order to optimize performance.

It also helps to track the tasks and plan for upcoming deadlines.

A Typical FP&A Calendar

WEEK 1: ACCOUNTING CLOSE AND MANAGEMENT REPORTS

1. FLASH REPORTS (For Key Revenues Expenses)

• Brief summary of financial data and key performance indicators (KPIs) that provides a snapshot of a company's financial health and performance.
• Covers a specific period, a day, week, or month, and is prepared quickly to provide timely insights.
• Focuses on the most critical information and highlights any significant changes or trends.
• A way to keep decision-makers updated on the financial performance and enable them to make informed decisions based on the current state of the business.

2. MONTH CLOSE AND ACCOUNTING REVIEWS

• Month close: Ensure that all financial transactions for that period are recorded accurately and completely.
• FP&A assists the Accounting team in a smooth month-end close.
• BVA stands for Budget Variance Analysis and helps assess how well the company's actual financial results align with the budgeted expectations.
• It involves comparing the budgeted revenues, expenses, and other financial metrics with the actual figures and analyzing the variances.
• Focuses on the most critical information and highlights any significant changes or trends.

3. MONTH END REPORTING PACKS with COMMENTARIES

• Comprehensive summaries of a company's financial performance at the end of each month.
• Detailed overview of the company's financial performance, key metrics, and other relevant information for that particular month.
• Typically distributed to senior management, to keep them informed about the financial health of the organization.
• The actual results from last month are compared to both the budget and the most up-to-date forecast.
• Variance analysis, commentary, and business recommendations

4. QUARTER END REPORTS / QUARTERLY BUSINESS REVIEW DECK

• Discuss Highlights, Lowlights and Key Learnings from the previous quarter.
• Provide a detailed overview of Significant Risks, Opportunities, Action Plan, OKRs or Targets and Forecast for next quarter
• Identify adjustments that need to be made in the next quarter based on previous quarters' performance.

To summarize during the first week, our main focus lies on Accounting Close and Management Reports. It covers Flash reports, month close and accounting reviews, month-end reporting packs with commentaries, and quarter-end reports. In the next article, we'll continue with Week 2, exploring more essential FP&A activities to optimize performance.

WANT TO LEARN FP&A WITH REAL LIFE EXAMPLES, EXPERIENCES AND DISCUSSIONS?

Enrollment in the 6th batch of the FP&A masterclass is currently open. To reserve your seat,?enrol here . (Early Bird Discount of $100 expires in 3 days)

USE CODE: "EARLY100"

A few highlights of our live FP&A Masterclass:

• Direct access to me and Dhawal (expert instructors teaching the course with more than 2 decades of cumulative FP&A experience in 5 different industries)
• 15+ Practical examples, Case studies and Group activities to have a more engaged learning experience.
• Latest thinking in the FP&A space on how to solve problems we're facing.

The tuition includes 5 Bonuses worth hundreds of dollars (for a limited time only):

Bonus #1: Gain exclusive entry to monthly mastermind calls and connect with our esteemed alumni from past cohorts.

Bonus #2: A PDF copy of my latest book?All About FP&A

Bonus #3: Access to online self-paced?FP&A Foundations Course

Bonus #4: FP&A Power Resume Blueprint

Bonus #5: FP&A Interview Prep Secrets

In a different timezone, have a busy schedule and prefer to learn at your own pace?

Join our on-demand 8 Weeks FP&A Launchpad

Disclaimer:

Please note that the following typical FP&A calendar is provided as a general guideline. The FP&A calendar can vary depending on factors such as the maturity of the FP&A team, the organization, industry dynamics, and the company's size and complexity.

The calendar presented here should be adapted and customized based on the unique characteristics and requirements of your organization. Consult with your FP&A team and consider your organization's specific needs and context when creating an FP&A calendar.

Do you want to get notified whenever I post on LinkedIn??

Then?go to my profile ?and click the small bell icon ?? below the front page banner on the right-hand side.

This is the channel for?"FP&A Professionals." Click "Subscribe" to receive a notification and an e-mail when I publish new articles on this channel every week.

If you like reading my content you should order?All?About FP&A?here .

See you until next time....

Signing off

CA Asif Masani