FP&A vs. Accounting: Let’s Get Ready to Rumble
“I must admit, when I was doing accounting, I never liked my FP&A colleagues. In fact, as a matter of at times, I hated them. I thought they didn’t understand accounting. They always push to reduce the number of days it takes to close the books when they have very little clue what's going on.”
Abdul Khaliq, Group Financial Controller, at Abu Dhabi National Hotels
In our 50th episode of FP&A Today, we bring together an all-star guest list who have had experience working as both accountants and in FP&A. Drawing on their experience they look at the frequent clashes between FP&A and their accounting colleagues (be warned no one pulls any punches!). Plus, the secrets to a more harmonious relationship between FP&A and accounting.
Get ready for The Dual of Accruals, the Toe-to-Toe on Cash Flow….with all of your questions answered about the day-to-day realities of FP&A vs Accounting.
The panel:
Lyndi Porter is accounting controller at Solera, a global leader in vehicle lifecycle management. She has more than 16 years accounting experience and has managed FP&A teams
Abdul Khaliq, Group Financial Controller, at Abu Dhabi National Hotels. 20+ years of progressive experience in accounting for Real Estate Development and Hospitality industries.
Josh Aharonoff (aka Your CFO Guy), CEO and Founder, Mighty Digits. He shares Finance & Accounting Best Practices & Advice everyday to his nearly 85,000 LinkedIn followers
Terrell Turner: Co-founder and fractional CFO at TLTurner Group (NY Times featured CFO | 40 Under 40 CPA). He also provide bookkeeping services to law firms to make accounting and finance less complicated.
What is covered in this episode:
The crucial differences between accounting and FP&A?
The 4 main reasons FP&A practitioners and their accounting colleagues clash.
The business fallout when FP&A and accounting fail to co-exist
Best practices that have worked in your career to bridge the gaps.
Potential impact of AI in the FP&A-accounting relationship
The crucial role of a Tech stack
The importance of the chart of accounts in this relationship
Getting the 10Qs and 10Ks out and the impact on FP&A requests
The fastest way to get from accounting and FP&A and the qualifications
Favorite Excel functions for accounting and FP&A pros
Read the full transcript and blog
Follow Paul Barnhurst on LinkedIn
Follow Datarails on LinkedIn
FP&A Today is brought to you by Datarails.
Datarails is the financial planning and analysis platform that automates data consolidation, reporting and planning, while enabling finance teams to continue using their own Excel spreadsheets and financial models.
Get in touch at www.datarails.com
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Datarails: High level demo
Join Stephanie Southard, Director of Sales at Datarails for a high-level demo. Watch a little bit of everything you can expect when you get Datarails. 1.19 Excel is not perfect or a database but Datarails bridges the gap 2.04 Connect to your disparate sources into our database 2.17 Bringing your data together 3.08 System and data agnostic 310. Showing cash in the bank 3.38 Genius by Datarails, AI tools: Insights, Storyboards and Chat 5.00 custom workflows 5.38 Mapping the data (full flexibility) 6.00 structuring the flow of data 7.11 Datarails formula 7.31 Drilling into all your data at transaction level 8.27: Rolling forward at the click of a button 8.40 Unlimited Datarails dashboard 10.06 AI-generated slide decks 11.22 AI KPI builder Get in touch to get your full demo www.datarails.com
FP&A vs. Accounting: Let’s Get Ready to Rumble
“I must admit, when I was doing accounting, I never liked my FP&A colleagues. In fact, as a matter of at times, I hated them. I thought they didn’t understand accounting. They always push to reduce the number of days it takes to close the books when they have very little clue what's going on.” Abdul Khaliq, Group Financial Controller, at Abu Dhabi National Hotels In our 50th episode of FP&A Today, we bring together an all-star guest list who have had experience working as both accountants and in FP&A. Drawing on their experience they look at the frequent clashes between FP&A and their accounting colleagues (be warned no one pulls any punches!). Plus, the secrets to a more harmonious relationship between FP&A and accounting. Get ready for The Dual of Accruals, the Toe-to-Toe on Cash Flow….with all of your questions answered about the day-to-day realities of FP&A vs Accounting. The panel: Lyndi Porter is accounting controller at Solera, a global leader in vehicle lifecycle management. She has more than 16 years accounting experience and has managed FP&A teams Abdul Khaliq, Group Financial Controller, at Abu Dhabi National Hotels. 20+ years of progressive experience in accounting for Real Estate Development and Hospitality industries. Josh Aharonoff (aka Your CFO Guy), CEO and Founder, Mighty Digits. He shares Finance & Accounting Best Practices & Advice everyday to his nearly 85,000 LinkedIn followers Terrell Turner: Co-founder and fractional CFO at TLTurner Group (NY Times featured CFO | 40 Under 40 CPA). He also provide bookkeeping services to law firms to make accounting and finance less complicated. What is covered in this episode: The crucial differences between accounting and FP&A? The 4 main reasons FP&A practitioners and their accounting colleagues clash. The business fallout when FP&A and accounting fail to co-exist Best practices that have worked in your career to bridge the gaps. Potential impact of AI in the FP&A-accounting relationship The crucial role of a Tech stack The importance of the chart of accounts in this relationship Getting the 10Qs and 10Ks out and the impact on FP&A requests The fastest way to get from accounting and FP&A and the qualifications Favorite Excel functions for accounting and FP&A pros Read the full transcript and blog Follow Paul Barnhurst on LinkedIn Follow Datarails on LinkedIn FP&A Today is brought to you by Datarails. Datarails is the financial planning and analysis platform that automates data consolidation, reporting and planning, while enabling finance teams to continue using their own Excel spreadsheets and financial models. Get in touch at www.datarails.com
Asif Masani: All About FP&A
Asif Masani has an inner belief that has guided his entire career. “Whatever I learn something, I don't feel good if I don't share it”. This ethos has taken Asif to a trajectory as an FP&A leader and author. He has just published his first book about FP&A, hit nearly 60,000 followers on LinkedIn and his daily advice has almost single handedly opened the eyes of Indian finance people to FP&A as a career. Unsurprisingly, his education-first focus has led him to lead FP&A ( APAC and India) at e-learning company Coursera (which facilitates 7000 courses, and which set up its FP&A team three years ago). For such a stalwart of FP&A only nine years ago Asif admits “I had never heard about FP&A before” until he landed a role as financial analyst at Citi. Previously he had FP&A roles at companies including Pfizer, and Great Learning. In this episode Asif talks to Paul Barnhurst about his career journey: From audit at EY to FP&A How a struggle to find a job led him to become a top FP&A influencer The top advice for finance people to build their own online brand How he embarked on writing his new book, All About FP&A, a 220 page guide for those entering the profession How FP&A operates at e-learning provider Coursera a 4k employee company offering 7000 courses The importance of special projects driving value in FP&A at Coursera Core metrics which he tracks closely The evolution of FP&A in India The outsourcing of finance functions to Indian companies The biggest trend in FP&A in 2023 FP&A Today is brought to you by Datarails. Datarails is the financial planning and analysis platform that automates data consolidation, reporting and planning, while enabling finance teams to continue using their own Excel spreadsheets and financial models. Get in touch at www.datarails.com
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