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Financial Planning and Analysis (FP&A) checklist
Budget Preparation
Gather historical financial data
Consult with department heads for projections
Consolidate budget inputs into a master budget
Review and revise budget drafts
Obtain executive approval for final budget
Forecasting
Analyze current financial trends
Update financial models with latest data
Generate multiple forecast scenarios
Review forecasts with key stakeholders
Adjust forecasts based on feedback
Variance Analysis
Compare actual results against budget
Identify significant variances
Investigate reasons for variances
Prepare variance analysis reports
Discuss findings with management
Performance Metrics
Define key performance indicators (KPIs)
Collect data for KPIs
Analyze performance trends
Report on KPI outcomes
Recommend actions for improvement
Strategic Planning
Conduct SWOT analysis
Set long-term financial goals
Develop strategic initiatives
Align initiatives with financial plans
Monitor progress and adjust strategies
