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

 

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Abdul Khaliq, Group Financial Controller, at Abu Dhabi National Hotels. 20+ years of progressive experience in accounting for Real Estate Development and Hospitality industries.

 

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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

 

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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

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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