Financial Planning & Analysis

---

A process that uses historical and current data to forecast future financial performance, support strategic decision-making, and guide a company toward its financial and operational goals. It involves activities like budgeting, financial forecasting, financial modeling, performance analysis, and providing insights to leadership to improve profitability and business value.  

Developing budgets and long-term strategic plans for the business.

• Develop an array of budgets (labor hours, cash balances, sales, etc.)
• Develop business goals, vision, and mission
• Form short and long-term strategic plans 
• Develop a capital & funding strategy

Using historical data and market trends to predict future financial outcomes, often through rolling forecasts that are updated with real-time information.   

• Use historical business data to predict future outcomes
• Clearly map out expected budgeted KPI's by month, quarter, and year
• Incorporate identified risks & opportunities in the period they will take place

Comparing actual results to forecasts and budgets to understand variances and identify areas for improvement or opportunity.   

• Use of graphs, charts, and tables to identify variances between the budget and actual data
• In-depth analysis and explanation of where and why variances occurred
• Identification and incorporation of successful processes and procedures that caused favorable variances
• Period of reflection to develop a plan of action to get back on the budgeted track if the variance is unfavorable
• Re-assess risks and opportunities, mitigation strategies, and how to obtain opportunities