Wie können Sie Fallstricke bei der Finanzanalyse und Budgetierung vermeiden? (2024)

My opinion: to avoid pitfalls in financial analysis and budgeting, maintain data accuracy, use realistic assumptions, regularly update forecasts, and involve cross-functional teams for diverse perspectives. Stay adaptable, consider external factors, and continuously monitor performance against budget. Clear communication and documentation are crucial to mitigate risks and ensure successful financial management.

Übersetzt

Scenario planning is helpful, but at a point make a decision. Monitoring and course correction beats paralysis by analysis.

Übersetzt

After 16 years of financial experience, I believe that the below three points are the key towards an effective budgeting system: 1. "Down-Up" setting-up approach, and "Up-Down" evaluating approach. 2. Dynamic adjustments are inevitable (preferred quarterly).3. Non-financial factors are important as much as the financial ones in setting-up, adjustments and the correction actions.

Übersetzt

Consider implementing key performance indicators (KPIs) and regular performance tracking. This allows you to monitor the actual financial results against budgeted figures and quickly identify any deviations. By continuously analyzing and adjusting based on real-time data, your organization can stay agile and responsive to changing market conditions, ensuring that budgeting and forecasting remain effective tools for achieving your financial objectives.

Übersetzt

(bearbeitet)

O Planejamento Financeiro deve apoiar o negócio para atingir suas metas rumo a estratégia traçada. Isso se faz não somente com ferramentas, mas, também com o time certo. Profissionais que consigam fazer um deepdive no negócio e empresa, entender seus principais riscos e alavancas, farão toda diferença para conseguir alinhar o orçamento a estratégia traçada.

Übersetzt

Budget is based on certain business plan and strategies which an organization has adopted to move ahead. If budget is not aligned to strategic priorities then it will not be approved in the first place

Übersetzt

Experience has taught us the most valuable way to forecast and communicate budgets is to align people with the mission first. Understanding the mission, its priorities, the stakeholders, and the front-line narratives is essential. Only when all the essential factors can be weighed, and the right leadership levers pulled, can the team rally behind the plan.

Übersetzt

Storytelling is a skill that essential for everyone but even more so for any FP&A team involved in budgeting. Use of visuals, waterfall charts to break down the differences between current year actuals to next year budgets, ability to drill down in any line item in the budget dashboard, provide trend analysis, scenario modeling can go a long way in effective communication.

Übersetzt

Budgeting and Forecasting are iterative activities and best done by baking in feedback from all stakeholders. Industry benchmarking and also comparison of profit centers and Business Units within one organization can help provide the confidence to end users on validity of the budgets.

Übersetzt

Budgeting and forecasting are never static! While you may do any annual budget, it is important when preparing the following year to review those variances and understand why and how they were “off”. -Was it a specific department? -Was it a specific person that gave you that information and skewed the numbers?-Was there something that impacted the business that you weren’t prepared or didn’t have that information available? (I.e. an acquisition or sale? Closing of a plant?)While you review the past and try to figure the future, it is best to review and discuss key points and aspects of the business with key stakeholders. It’s the only way and then as previously shared, continue to review, confirm, explain and adjust.

Übersetzt

Totally agree KP! Balance of planning, materiality and speed.Always appreciate your integrated view of compliance with standard business processes.

Übersetzt

Make sure to review bottom-up builds from a top-down perspective too. Diving deep into data can sometimes result in blind spots at consolidation. Incorporating numerous datasets, varying assumptions, fluctuating exchange rates, inflation, and other factors increase the chance of errors. Prioritize a top-down review before sharing; it's a safety net. Analyse high-level trends against comparators like last year. This can pinpoint consolidation errors or highlight areas for discussion. State drivers of trend changes upfront for clarity.

Übersetzt

During the financial planning period, finance department receives a lot of information from different departments. Always remember, other departments are not well trained about zero based concept. It means that their plan can be totally out of reality. So double check their plans against actual from previous periods. Probably they missed something or increase too many others. Finance department should never hesitate to double check and make question for other departments in any signal of inconsistency.

Übersetzt

Certainly, there are several other potential pitfalls to be aware of in financial and budgetary analysis:1. **Ignoring External Factors:** Failing to consider external factors such as changes in regulations, economic conditions, technological advancements, or competitive landscape can lead to inaccurate projections.2. **Overlooking Behavioral Biases:** Cognitive biases, like over-optimism or anchoring, can skew assumptions and lead to unrealistic projections.To mitigate these pitfalls, it's essential to approach financial analysis and budgeting with a critical and open mindset, involve diverse perspectives, and continuously review and update your assumptions based on changing circ*mstances.

Übersetzt

One other thing to consider that I can think on top of my mind is:Not getting used to the analysis that we will stop questioning the methods/data, fitment of those methods because of evolving needs of the users. Solution - bringing a new member to have fresh ideas and perspectives.

Übersetzt