Anders Liu-Lindberg

Business Partnering Institute

Imagine you've stumbled upon a complex problem. It's a problem that's affecting millions of people across the world. At the time, no one has been successful in solving the problem, and as time passes more and more people's careers are being impacted. That's how I feel about business partnering.

All finance and accounting professionals face a choice. Evolve or be automated. Business partnering is one of those evolutionary paths that these professionals can take. However, despite being a desirable path for more than two decades only a few have found the way and made it to the other side. Most are still on the journey and are having a hard time making it.

This is why we have founded Business Partnering Institute and why I have made it my mission to help these millions of people find their way. In my role as Chief Commercial Officer, I'm responsible for creating awareness around what business partnering is and how you become good at it. In doing that I'm making the connection between companies and individuals who are looking for guidance and how BPI can help them.

As a former business partner myself, I have been on the journey and know all about the struggles that others are facing. That's why I and the team at BPI are ideally suited for helping finance teams across the world elevate their influence in the company through business partnering. We can help you too. Just send a message and let's get the conversation started.

Partner | Chief Commercial Officer (CCO)

We've founded the Business Partnering Institute because we want to crack the code on Business Partnering and unlock the value potential hidden in finance functions around the world. By helping them adopt a business partner mindset they'll instantly move closer to the business and start Creating Value Together.

At BPI we want to be the catalyst for change in Finance and help individuals and organisations to change in a digital world where the finance function of tomorrow looks very different from that of yesterday!

We focus on three core areas being Training & Advisory, The Business Partnering Round Table and an online Business Partnering Community. You can read more about each of the three areas at www.businesspartneringinstitute.org.

At the Business Partnering Institute my main focus is to grow the online community and in particular, the Finance Business Partner Forum which is the largest online Business Partnering Community in the world with close to 5,000 members. You can join the forum here https://www.linkedin.com/groups/8475765. In the forum thought leaders will share relevant content and new articles about Business Partnering and the changes happening all around the finance function. Everyone can join in the discussion and ask questions directly to the leadning thinkers in Business Partnering. What are you waiting for? Join today!

Co-Founder

Here's the most comprehensive piece ever written on how to become a successful finance business partner and how to implement the concept in your company. Moreover, we describe how being a finance business partner is just as much a mindset for the whole finance function as it is a specific role.

In essence, it's about knowing your business and how to create partnerships with your stakeholders/internal customers by always having the customer's needs left, front and center of everything you do.

Finance is not here to do Finance but to support the business create value or even create value on its own. Without value creation, neither you, your finance function nor your company will go anywhere.

You can buy the book here www.financebusinesspartner.dk [Currently only available in Danish).

Co Author of the book "Create Value as a Finance Business Partner"

Imagine you could work with something that you're immensely passionate about and fulfill your purpose. What would that be? To me, it's helping finance professionals across the world becoming better business partners. That's exactly what I can do at the Business Partnering Institute which I was part of founding in April 2018. 

Through learning and development programs we train finance professionals in the skills that are needed to succeed with business partnering. We also advise senior leaders in Finance to help them better understand how strong their teams are at business partnering. Lastly, we cover immediate needs through interim business partnering when you've received a critical resignation.

What's my role in all of this? As a partner, I deliver our services and am in charge of our research and networks service line where we release business partnering best practices every day. As a COO I make the company run from strategy to execution and drive us to achieve our goals. It's also my job to take the company from a start-up to a scale-up. As a CMO I do marketing when it comes to our point of view on business partnering as well as our product offering.

Our ultimate goal is to crack the code on successful business partnering and start creating some value together with you! If you want to join the journey and improve on business partnering then don't hesitate to reach out!

Partner | Chief Operating Officer (COO) | Chief Marketing Officer (CMO)

As the CMO of the Business Partnering Institute, I'm in charge of all online marketing activities aiming at increasing brand awareness and placing the institute as the go-to company for training and advisory on business partnering. This includes lead generation and talking about business partnering with individuals and companies all around the world.
I'm also responsible for creating and publishing content that showcases the latest developments within business partnering and case studies of how individual companies are doing it.
Reach out to me if you'd like to learn more about our approach to business partnering and how we could potentially help you and your company.

Chief Marketing Officer (CMO)

LinkedIn

As a LinkedIn Learning instructor I create finance and accounting related content to the LinkedIn Learning platform. The content is routed in the thought leadership that we publish at Business Partnering Institute.

The first course is titled "Driving Business Impact for Finance Professionals".

LinkedIn Learning Instructor

LinkedIn is the world's largest networking site for business professionals. Since 2014, they have opened up their platform for the members to write content which they can share with other members.

I write about how the finance function is changing and what you as a finance professional or company can do to keep up with the changes. In addition, I write about personal branding, disruption, networking, leadership and other areas where I think I can add some insights.

I'm not a specialist, but I share my opinions and discuss them with other LinkedIn members.

Blogger

Profitability Analytics Center of Excellence

The Profitability Analytics Center of Excellence (PACE) is a non-profit community of professionals dedicated to helping organizations make better, more informed decisions through the use of data analytics employing integrated, causal models.  Focusing exclusively on how to enable better managerial decision-making within organizations through the use of such models, PACE is the go-to source for people looking for independent and impartial (vendor and methodology neutral) information in this area.

Board Member

Linkedist

LinkedIn is the best marketing channel you haven't heard of yet! Most see it as a resume platform however there's a thriving content community on the platform and professionals go there for the latest news within their field. From companies to individuals this is a cannot miss opportunity to improve your employer or personal brand. Linkedist is your go-to company in the Nordics and Baltics for help unlocking this potential.

As advisory board member at Linkedist I help shape the strategy for the future and make real choices about where to play and how to win as a company. I use my experience from my own start-up and other advisory board roles to help the Linkedist team make the right choices. That and I get to further pursue my passion for how to best use LinkedIn as a platform!

Advisory Board Member

Born Capital

The tides of change are flowing into the finance function which sends the function into the age of 4.0. We say it is "Enabled by tech - Driven by people". 

At Born Capital, we focus on tech enablement and are looking for early-stage startups in what we call #CFOTech that will enable the finance function to become a profit driver. We have a keen interest in FP&A and Business Finance as this is where we see the biggest improvement potential.

Actually, CFOs themselves know this as 71% of them are not happy with the performance of their FP&A team despite significant investments made in the past decade. We will help the office of the CFO get the right tech and tools to step up to the plate and deliver on the expectations of the CEO and other CXOs.

Feel free to reach out if you would like to know more about how we can help your start-up to the next level...

A.P. Moller - Maersk

8 months into my new senior finance business partner role I got an added scope. Now It's my job to drive value creation as a trusted partner for the trades from Asia to/from Middle East and Europe as well as Middle East to/from Europe. This scope makes up roughly 30% of Maersk's Ocean Business and a massive opportunity to create value!

My approach to business partnering is simple. 

Step 1: Go learn about how the business is doing. 
Step 2: Pair your newly acquired business understanding with your understanding of the numbers and present your view on the business. 
Step 3: Make recommendations for how to improve performance. 
Step 4: Follow-up on if the decisions made to improve performance yielded the expected results.

From here you repeat steps 3 and 4 and elevate your impact from an operational level, to tactical, and to a strategic level. This is my mission with my added scope as it was since I started my new role. Meet or beat targets and get a positive NPS score from my stakeholders. That's really all that counts!

Senior Finance Business Partner, EMEA (Europe & Middle East)

Business partnering is simple to understand but hard to do successfully. That's why I've decided to once again be a finance business partner at Maersk. I want to crack the code on successful business partnering and I hope that you want to help me! We need to collaborate on solving this challenge and it starts now. Connect with or follow me and let us create value together!

At Maersk, I'm a business partner to our largest product being the trade lane between Asia and Europe. I challenge the strategic direction setting and ensure we make the right choices about Where to Play and How to Win. It's my responsibility to answer the question "Are we Winning?". If we're not winning then I collaborate with my stakeholders to come up with actions that can improve performance. If we're winning I challenge them to deliver even better performance.

I measure myself on two success criteria: 1) are we achieving or overachieving on our targets and 2) do my stakeholders think that I made a positive contribution to that end. Nothing else matters.

Senior Finance Business Partner; Europe Trade Cluster

What would you do if someone offered you the opportunity to create a World-Class finance function? I decided to say "Challenge Accepted!" when offered this opportunity back in the Spring of 2017. With a purpose of helping the finance function become more involved with the business and drive value creation this role was ideally suited for me!

Now I work with providing strategic advice to our senior finance leaders in terms of how to develop our finance function at Maersk. I also help them execute on their strategic plans through overall program management and specific project support where needed.

I collaborate with The Hackett Group on understanding where we need to further develop the function and with top-tier consulting companies on some of our large-scale initiatives. One such initiative which I am particularly proud to have been part of is our Business Finance College. Probably the largest training program of its kind ever globally, we took 500 Finance Business Partners and leaders through a tailormade training program designed to make them better business partners and better leaders. We are aiming for a complete culture and mindset change with a winning aspiration to Drive Value Creation as a Trusted Partner.

We're not World-Class yet but we're not far off so watch out for the big fanfare when we reach this milestone!

Head of Global Finance PMO

Maersk Line is the world's largest container shipping company and operates a vast logistics network covering almost all countries in the world. Whether you need transportation from door to door, port to port or any other connection Maersk Line will get the job done for you.

I work as a Senior Finance Business Partner in the Europe Region where I help shape the finance function of the future in a global finance transformation project. We're moving almost all finance staff from the frontline to global service centers. Teams that only a handful of years ago consisted of several hundred people are now down to pure business finance teams supporting the front line. Consequently, the global service centers take end-to-end responsibility for processes and tasks and can make significant improvements the former teams could only dream about.

I work with defining what good finance business partnering looks like and how the remaining teams can accelerate their value adding activities. I help them implement the strategic direction set by top management and through performance management ensure that we reach Maersk Line's strategic goals.

In addition, I have been the project manager on a cost saving project where we several years running have saved upwards to USD 100M. I set the direction for the region and facilitate knowledge sharing sessions where operations managers come together to discuss how to come up with new savings ideas.

You should also read some of my articles on finance business partnering and how you can transform your finance function below.

Senior Finance Business Partner

Freelance writer at D!gitalist Magazine where I write about digital finance, finance transformation and the future of finance. 

Have a good story you want to publish? Reach out and let’s work on it together!

Freelance Writer

CFO innovation Asia

Contributing with articles about current developments in the finance function and in particular around how Finance can help the business add value.

Techstory.in

Jobindex A/S

Jobindex is the leading job site in Denmark where companies post their positions and enlist Jobindex to encourage candidates who have an active CV to apply for the positions.

I help people who are looking for a job refine their resume and cover letter and prepare pitches for interviews and have so far helped more than 10 candidates whereof several of them have found interesting jobs after receiving my guidance. My offer of assistance isn't limited to Jobindex as I generally try and help all job seekers out there getting closer to their dream job.

I have been recognized by https://www.topresume.com/ for having a resume ranking in top 4% of all resumes and I want to use that expertise to help you write a stellar resume too!

You can read some of my advice in below articles.

Job Search Coach

Leading advisor to senior Finance and FP&A leaders on how to succeed with business partnering

I am a Partner and Chief Commercial Officer at the Business Partnering Institute, where I lead the training and advisory services for senior finance and FP&A leaders who want to succeed with business partnering. With over 15 years of experience in finance and business roles, I have a passion for helping finance professionals evolve and create value in a digital world.

I am also a LinkedIn Learning Instructor, a Co-Author of the book "Create Value as a Finance Business Partner", and a board member of several organizations that promote profitability analytics, data-driven decision making, and finance innovation. My mission is to crack the code on business partnering and unlock the potential hidden in finance functions around the world. If you are interested in knowing more, please do not hesitate to contact me.

The budget process. What can we say?

It comes around every year and causes a lot of frustration.

The output. Is it really useful?

Maybe. But it certainly warrants discussion.

And we will discuss that in the next #FinanceMaster Show.

I'll be talking to Kyanusch Kay, VP of FP&A and Performance at Jedox.

We will share with you some tips with you on how to run a better process.

We won't ask you for a complete transformation so no need to be scared.

You can be a part of the show too. Just raise your hand to come on up and share your perspectives and ask questions.

Will we see you there?

#finance #accountingandaccountants #cfo #budget

View event: The #Financemaster Show 🛑 - E49 - Are you a winner in the budget season?

https://www.linkedin.com/events/the-financemastershow-e49-areyo7102912164654403584/

Sponsored by Jedox: It’s here again! The Budget Season that is. It comes around every year, blocks the finance department for a few months (at best), and is cause for great frustration. 

Don’t get me wrong. The budget process can also be fun, a great learning opportunity, and a chance to connect with business leaders around the company.

The frustration is rather related to the outcome of the budget process. Let’s consider three specific ones. 

It would be great if the final number was one that everyone could agree to and had maximum motivation to achieve. That is rarely the case.

It would also be great if the final number represented a meaningful outlook for the coming financial year. Unfortunately, it’s already outdated once it’s settled upon.

Finally, it would be great if the resources distributed during the process were given to high-ROI projects with a real chance of delivering. But no, that doesn’t happen either. Instead, resources are spread evenly across many departments and projects suffocating the good ones and wasting money on the bad ones.

Yet, despite all the agreed flaws of the budget process we keep doing it over and over again.

Each year we conduct a poll on LinkedIn to check how many companies still have budgets.

The results are very one-sided. 9 out of 10 companies still have budgets. 

Why is it that this 100-year-old process keeps roaming free in companies across the world and what could be done differently to finally be a winner in the budget season?

Let’s discuss and consider the alternatives. 

Open article: How to finally be a winner in the budget season by Anders Liu-Lindberg

https://www.linkedin.com/pulse/how-finally-winner-budget-season-anders-liu-lindberg?trackingId=aoJQc6Xr0PNarPCyv0h8Og%3D%3D

𝗙𝗿𝗲𝗲 𝗘𝘅𝗰𝗲𝗹 𝟭𝟬𝟭 𝗰𝗼𝘂𝗿𝘀𝗲!

Now you can download all the links in one place here: https://lnkd.in/eatWbyqQ

Excel is the preferred spreadsheet tool by the vast majority.

In fact, 87% of people say so when asked on LinkedIn!

There is a challenge though...

Most people are just not very good at Excel.

Imagine what even a small productivity gain would give you.

With this free course, you'll easily gain 10-15%!

Just click the links and start learning...

6 Modules and 22 Lessons.

Here we go…

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EXCEL BASICS

1. The Microsoft Excel Manual – https://bit.ly/40Xn9WW

2. Processing data in Excel - https://bit.ly/3m4imUw

3. Excel formula bible - https://bit.ly/3U7U5tl

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DATA ANALYSIS

4. Data analysis in Excel - https://bit.ly/3ZGg7oe

5. 20 Tips and tricks for data analysis - https://bit.ly/40yZa0r

6. Introduction to PivotTables - https://bit.ly/3U2U9ui

7. Advanced Excel - https://bit.ly/3nI4DU4

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VISUALIZATION

8. Creating charts - https://bit.ly/3K9i4DU

9. Excel dashboards - https://bit.ly/3U2GKCw

10. Adding pictures to charts - https://bit.ly/3KpnD14

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FINANCIAL MODELING

11. Financial Modeling with Excel365 - https://bit.ly/3mqtfR1

12. Ten formulas for financial modeling - https://bit.ly/3K3NxY8

13. Five functions for financial modeling - https://bit.ly/3GbQF35

14. Learn VBA for Excel - https://bit.ly/432YstE

15. VBA notes for professionals - https://bit.ly/3Gbruh4

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CHEAT SHEETS FOR THE EXAM

16. Excel cheat sheet - https://bit.ly/3zsAL0A

17. The formulas cheat sheet - https://bit.ly/3m9CC7f

18. Excel Smart Guide - https://bit.ly/3Mc61Ix

19. The Ultimate Excel Guide - https://bit.ly/3GdLxeV

20. The 100 most useful Excel tips - https://bit.ly/42XZHdM

21. VBA cheat sheet - https://bit.ly/3ma3bJs

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CONTINUOUS LEARNING

22. How to boost your Excel skills - https://bit.ly/40EyFGM

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Go through the lessons one by one and end each one by deciding on one thing you'll do differently.

Try it out for a week and see if it sticks.

What are your favorite Excel resources?

Share them 👇

#finance #Excel #accountingandaccountants #careers

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🧑‍💼 I'm a partner at Business Partnering Institute
🆘 Need immediate help in your finance team, call us!
🤝 We help increase the influence of your finance team
🔔 To see more of my content, hit the bell on my profile
📻 Find our #FinanceMaster podcast on your podcast channel

Do you know how your balance sheet impacts your income statement?

It's the Depreciation vs. Amortization vs. Impairment Showdown!

These aren't the only items stemming from your balance sheet hitting your income statement but they usually make up the largest portion!

DEPRECIATION

Depreciation is a method used to allocate the cost of tangible assets (such as buildings, machinery, and vehicles) over their useful lives.

It represents the systematic reduction in the value of an asset due to wear and tear, obsolescence, or other factors.

Financial Statement Impact

Depreciation expense is recorded on the income statement, reducing the company's net income.

Simultaneously, an equal amount is recorded as an accumulated depreciation contra-asset account on the balance sheet.

This reflects the portion of the asset's value that has been used up over time.

Four ways to optimize depreciation

1. Asset utilization
2. Predictive maintenance
3. Asset tracking
4. Resale and repurposing

AMORTIZATION

Amortization is similar to depreciation but applies to intangible assets (such as patents, copyrights, and trademarks) that have a finite useful life.

It's the process of expensing the cost of these intangible assets over their estimated useful lives.

Financial Statement Impact

Similar to depreciation, amortization expense is recorded on the income statement, reducing net income.

The corresponding contra-asset account, called accumulated amortization, is created on the balance sheet to represent the portion of the intangible asset's value that has been used up.

Four ways to optimize amortization

1. Intangible asset valuation
2. Usage-based amortization
3. Strategic partnerships
4. Legal protection

IMPAIRMENT

Impairments occur when the carrying value of an asset on the balance sheet exceeds its recoverable amount.

It indicates that the asset's value has declined significantly, often due to changes in market conditions, technological advancements, or other factors.

Financial Statement Impact

When an impairment occurs, the company needs to adjust the carrying value of the impaired asset down to its recoverable amount.

This leads to a non-cash impairment charge on the income statement, reducing net income and overall assets on the balance sheet.

Four ways to optimize impairments

1. Scenario analysis
2. Regular revaluation
3. Contingency plans
4. Strategic diversification

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How are you minimizing depreciation, amortization, and impairments in your company?

Anything you'd like to add to this overview or success stories you'd like to share?

🧑‍💼 I'm a partner at Business Partnering Institute
🆘 Need immediate help in your finance team, call us!
🤝 We help increase the influence of your finance team
🔔 To see more of my content, hit the bell on my profile
📻 Find our #FinanceMaster podcast on your podcast channel

The CFO Handbook is here! Everything the CFO needs to know to be successful!

CFOs have a lot on their plates and they need help to manage it.

In this handbook, they'll find 18 comprehensive resources that'll guide them to success.

Let's dig into these FREE resources...

1. The 10 most important KPIs for CEOs - http://tiny.cc/utnavz

2. The CEO’s KPI Fact Sheet - http://tiny.cc/vtnavz

3. CEO succession planning - http://tiny.cc/xtnavz

4. How CFOs keep CEOs happy - http://tiny.cc/wtnavz

5. CEO vs. CFO - http://tiny.cc/ztnavz

6. 10 ways for CEOs and CFOs to work better together - http://tiny.cc/0unavz

7. The CFO’s KPI Fact Sheet - http://tiny.cc/9unavz

8. 10 responsibilities of a CFO - http://tiny.cc/3unavz

9. The CFO’s guide to managing the finance function - http://tiny.cc/4unavz

10. The 10 most important KPIs of CFOs - http://tiny.cc/8unavz

11. CFO vs. Controller - http://tiny.cc/dunavz

12. The CFO’s career path - http://tiny.cc/aunavz

13. The CFO’s guide to measuring the finance function - http://tiny.cc/5unavz

14. 8 skills for successful CFOs - http://tiny.cc/cunavz

15. The CFO’s finance transformation plan - http://tiny.cc/eunavz

16. The 8 types of CFOs - http://tiny.cc/bunavz

17. The CFO’s guide to driving the business - http://tiny.cc/funavz

18. 10 actions to improve finance - http://tiny.cc/2unavz

No CFO can do it alone but need to build a strong team to be successful.

Naturally, that means these resources are for all finance and accounting professionals to prepare you to help the CFO.

And perhaps it'll even prepare you to become a CFO yourself one day!

Do you find these resources helpful?

Are there any resources you would like added to the handbook?

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🧑‍💼 I'm a partner at Business Partnering Institute
🆘 Need immediate help in your finance team, call us!
🤝 We help increase the influence of your finance team
🔔 To see more of my content, hit the bell on my profile
📻 Find our #FinanceMaster podcast on your podcast channel

Automate the mundane to maximize the value-added service of Finance.

The difference between legacy accounting methods and real-time accounting enabling technologies is like the difference between an FM radio and the Internet. 

In a nutshell, it means saying goodbye to monotonous manual data entry and manual account reconciliation and saying hello to the automation of repetitive tasks. 

Imagine a scenario where your books are kept automatically updated at all times. 

Now imagine having that data presented in an easily accessible dashboard where the entire company has access to view all the key metrics and insights. 

Wonderful to play make-believe for a while, isn't it?

Well, it’s actually real. Let's show you how... 

Open article: Why AI is a game-changer for real-time business intelligence and accounting by Anders Liu-Lindberg

https://www.linkedin.com/pulse/why-ai-game-changer-real-time-business-intelligence-liu-lindberg?trackingId=vMnHqtkU2RbOpmwbIW939A%3D%3D

𝗙𝗿𝗲𝗲 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 𝟭𝟬𝟭 𝗖𝗼𝘂𝗿𝘀𝗲.

Save 1,000s of dollars!

How can you learn real accounting these days?

Automation is doing most of the debit and credit these days.

Perhaps you can start by learning from those who have done the real work and know how it's done.

We've compiled their insights in this free course.

See all the lessons below 👇

3 Modules and 21 Lessons.

Here we go…

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ACCOUNTING FUNDAMENTALS

1. Chart of accounts - https://bit.ly/3MnlEx5

2. Debit and credit - https://bit.ly/3GsI4cp

3. Cash vs. Accrual accounting - https://bit.ly/3ZLy70p

4. Accounting principles - https://bit.ly/3zF1Mh9

5. Accounting cheat sheet - https://bit.ly/3ZDapUg

6. A guide to finance and accounting - https://bit.ly/3zrgAA9

7. Accounting on a one-pager - https://bit.ly/3LOhgp5

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ACCOUNTING ENTRIES

8. Revenue types - https://bit.ly/40OkmiN

9. COGS vs. OPEX - https://bit.ly/43dsT0v

10. CAPEX vs. OPEX - https://bit.ly/3ZRhYXe

11. Other income and expenses - https://bit.ly/3V5aHCo

12. Asset types - https://bit.ly/3ZV90Zc

13. Owner’s equity - https://bit.ly/3LvjgC9

14. Liability types - https://bit.ly/3mjXWas

15. Common journal entries - https://bit.ly/3Vq5fug

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FINANCIAL STATEMENTS

16. Financial statements 101 - https://bit.ly/3KJsPP0

17. Financial statements in 2 min - https://bit.ly/40OQOll

18. The accounting equation - https://bit.ly/3pab3vC

19. The income statement - https://bit.ly/3m0wLRL

20. The balance sheet - https://bit.ly/3KHym8z

21. The cash flow statement - https://bit.ly/40rBaw1

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How did you learn Accounting 101?

And what more resources would you like to learn accounting?

#accountingandaccountants #careers #cfo #finance #financemaster

The whole world runs on Excel but here's the worst part...

Many people and companies don't even have the latest version of Excel.

This becomes particularly obvious when new formulas and features are released into Excel 365.

A simple yet very telling example is XLOOKUP.

It's such an easy formula to use and more efficient than V/HLOOKUP.

Yet, when this formula is promoted I still see a lot of people mentioning they either don't have it or they fear it's not compatible with the versions of people they work with.

This is terrible! It's like doing your work with your hands tied behind your back.

Even in my own small scale-up company, we have access to the latest Excel features.

Why do some large corporations resist?

And be warned that it could come with risks too.

I once worked for a company that got hacked and its global operations were down for weeks.

This could have been avoided had the company simply updated from Windows 7 to Windows 10.

So don't be a laggard! Upgrade to the latest version of Excel and boost your productivity.

Then we'll fix the issue of the entire financial system running on Excel another day 😉.

What version of Excel are you using and do you have access to the latest features?

If you want to level up in Excel you can also download my free Excel course. let me know 👇 if you want the download link...

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🧑‍💼 I'm a partner at Business Partnering Institute
🆘 Need immediate help in your finance team, call us!
🤝 We help increase the influence of your finance team
🔔 To see more of my content, hit the bell on my profile
📻 Find our #FinanceMaster podcast on your podcast channel

Do you have a view of all the processes you should be managing in your finance function?

Introducing the CFO's Finance Process House...

21 core processes for the CFO to run:

1. Financial Planning & Analysis
2. Financial Reporting
3. Accounting
4. Treasury Management
5. Tax Management
6. Risk Management
7. Capital Allocation
8. Financial Systems and Technology
9. Cost Management
10. Financial Compliance
11. Strategic Financial Management
12. Financial Communication
13. Employee Benefits Management
14. Financial Policy Development
15. Vendor and Supplier Management
16. Financial Education and Training
17. Sustainability and ESG Reporting
18. Financial Analytics and Business Intelligence
19. Asset Management
20. Cash Handling and Banking
21. Regulatory Compliance

Each process is a specialism in itself and can be expanded into several subprocesses.

It sure is a lot for the CFO to manage and s/he'll need a great team to do so!

And just like in a real house, if just a few bricks start to crumble the whole house can easily fall.

How are you managing all these processes in your company?

Are there any processes you don't cover?

Are there any processes that are missing from this overview?

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🧑‍💼 I'm a partner at Business Partnering Institute
🆘 Need immediate help in your finance team, call us!
🤝 We help increase the influence of your finance team
🔔 To see more of my content, hit the bell on my profile
📻 Find our #FinanceMaster podcast on your podcast channel

Get ready for some balance sheet 101. Do you know the basic concepts?

Many finance professionals do but I also know many that struggle keeping a straight face while trying to explain them...

So let's try to shed some light on some of the key terms.

It's the Assets vs. Liabilities vs. Equity Showdown!

ASSETS

Assets are resources that a company owns or controls and can use to generate future economic benefits.

They can be tangible or intangible. Assets are typically categorized as current or non-current based on their expected conversion to cash within one year.

Financial Statement Impact

Assets are listed on the balance sheet, where they are categorized as current assets or non-current assets.

The total assets figure is a key component of the balance sheet and reflects the company's resources at a specific point in time.

Four ways to optimize assets

1. Asset efficiency
2. Asset allocation
3. Asset acquisition
4. Asset lifecycle management

LIABILITIES

Liabilities are obligations that a company owes to external parties, often involving the repayment of money, goods, or services.

Liabilities can be classified as current or non-current based on their maturity date.

Financial Statement Impact

Liabilities are listed on the balance sheet as current liabilities or non-current liabilities.

The total liabilities figure represents the company's outstanding obligations at a specific point in time.

Four ways to optimize liabilities

1. Debt management
2. Working capital
3. Supplier negotiations
4. Debt refinancing

EQUITY

Equity represents the residual interest in the assets of the company after deducting liabilities.

It represents the ownership stake of shareholders in the company and is also known as shareholder's equity or net assets.

Financial Statement Impact

Equity is presented on the balance sheet as the difference between total assets and total liabilities.

Changes in equity are reflected in the statement of changes in equity, which shows how equity has changed due to transactions with shareholders and profits or losses.

Four ways to optimize equity

1. Capital structure
2. Dividend policy
3. Retained earnings
4. Share buybacks

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How are you managing the balance sheet in your company?

Anything you'd like to add to this overview or success stories you'd like to share?

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🆘 Need immediate help in your finance team, call us!
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📻 Find our #FinanceMaster podcast on your podcast channel

The CFO has the toughest job of everyone in the C-suite. Just look at all the responsibilities...

1. Financial Planning & Analysis
2. Financial Reporting
3. Risk Management
4. Cash Management
5. Capital Management
6. Tax Management
7. Investor Relations
8. Corporate Governance
9. Strategic Planning
10. Leadership & Management

And let's not forget that these are just the responsibilities of the finance function.

CFOs today are business leaders first and finance leaders second.

They need to be business partners driving value creation throughout the company.

If you want help dealing with these responsibilities then check out "The CFO's Guide to Manage the Finance Function".

You can download it here: https://lnkd.in/eP3zRuat

Another aspect to consider is if you want to be a CFO one day you need to check a lot of these boxes.

How many boxes do you check and do you want the toughest job in the C-suite?

#finance #careers #cfo #accountingandaccountants  #financemaster

Do you want to learn Financial Statements 101? Then this FREE course is for you...

If you want a consolidated PDF with clickable links you can buy it here for a modest 3€: https://lnkd.in/gGrZ3gPu

The three statements are what everything is built on in finance and accounting.

And I should say everything in business too because it will ultimately end up somewhere in these statements.

So learning about the three statements is critical to any finance and accounting professional looking to be successful.

In this free mini-course, you get to learn from some of the most knowledgeable finance and accounting creators you can find.

4 Modules and 25 Lessons with some great infographics!

Here we go…

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FINANCIAL STATEMENTS

1. The Financial Statements - https://bit.ly/3m0PGvO

2. Financial statement accounts - https://bit.ly/3oHo5Ax

3. The three statements explained - https://bit.ly/3K6o7cw

4. The readers of financial statements - https://bit.ly/3oGfQF5

5. Shareholder value creation - https://bit.ly/40x3rRO

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INCOME STATEMENT

6. The income statement explained - https://bit.ly/3m0wLRL

7. From revenue to net income - https://bit.ly/3ZPZu9X

8. Income vs expenses - https://bit.ly/41ADgua

9. All about revenue - https://bit.ly/41YGMyh

10. Examples of OPEX - https://bit.ly/3mUKMkz

11. The difference between COGS, OPEX, and others - https://bit.ly/41yB06I

12. CAPEX vs. OPEX - https://bit.ly/40WK5pd

13. Other income and expenses - https://bit.ly/3V5aHCo

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BALANCE SHEET

14. The sections of the balance sheet - https://bit.ly/3Uag6I3

15. 20 examples of assets - https://bit.ly/3ZV90Zc

16. Fixed assets and CAPEX - https://bit.ly/3ntyZt9

17. All about accounts receivables - https://bit.ly/40OxuUI

18. 20 examples of liabilities - https://bit.ly/3mjXWas

19. Introduction to retained earnings - https://bit.ly/3Mginjb

20. Debt vs. Equity - https://bit.ly/3KriczZ

21. All about accounts payables - https://bit.ly/3UNdWOM

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CASH FLOW STATEMENT

22. The statement of cash flows - https://bit.ly/3nD9QfU

23. Cash flow drivers - https://bit.ly/40Tmpln

24. Three types of cash flow - https://bit.ly/42Y5xff

25. Direct and Indirect cash flow statement - https://bit.ly/40rBaw1

----------

No more excuses to not know the basics of financial statements.

Just click the links and start learning!

What more would you like to know about financial statements?

#finance #accountingandaccountants #careers #cfo

----------

🧑‍💼 I'm a partner at Business Partnering Institute
🆘 Need immediate help in your finance team, call us!
🤝 We help increase the influence of your finance team
🔔 To see more of my content, hit the bell on my profile
📻 Find our #FinanceMaster podcast on your podcast channel

The field of AI is developing rapidly these years hitting every industry and profession.

Accounting and finance are no different and it can definitely be tough to keep up with everything that's happening.

In this week's episode of the #FinanceMaster Show, we will discuss how you can stay ahead of the trends.

Here are some of the key discussion points...

-The current state of AI adoption in the accounting industry.

-Steps for companies to take in order to embrace AI in accounting.

- The role of ongoing education and training for finance professionals in a technology-driven landscape.

- Are you on board?

- A roadmap for businesses ready to embrace AI in accounting.

- Strategies for accountants to stay relevant in an AI-driven landscape.

It's a great chance to help future-proof your career in Finance & Accounting.

You can be a part of the show too. Just raise your hand to come up on stage and share your perspectives or ask questions.

Will we see you there?

#artificialintelligence #finance #accountingandaccountants #careers

View event: The #Financemaster Show 🛑 - E50 - Staying ahead of AI trends in Finance

https://www.linkedin.com/events/the-financemastershow-e50-stayi7105446493225897985/

ESG and reporting is the talk of the town!

We will discuss this in the next episode of the #FinanceMaster Show.

Here are some of the key topics we'll touch upon:

AI is turbocharging financial reporting, from data collection to presentation.

AI's role in enabling real-time, decision-empowering reporting.

Demonstrating how AI can help in collecting, analyzing, and reporting ESG data.

You can be a part of the show too!

Just raise your hand to come on stage and share your perspectives or ask questions.

Will we see you there?

#finance #reporting #esg #cfo


View event: The #Financemaster Show 🛑 - E51 - Streamlining ESG reporting with AI

https://www.linkedin.com/events/the-financemastershow-e51-strea7107980173857148928/

Careers are long things. They start somewhere in your late teens or early twenties and end sometime after your sixty-eighth birthday. Some never end. 

Change, over that span of time, is like paying taxes - it’s inevitable. 

Just think, in the innovation cycle since 2001 we’ve had the dotcom boom and bust, the rise of Apple and the iPhone, the upending of the music industry, the movie industry through streaming platforms, Bitcoin, crypto, remote working, and now artificial intelligence. 

That overview is by no means comprehensive but it goes to show that at a high level significant changes happen regularly and are overcome or used as springboards for innovation. 

There is no doubt AI is going to be huge. 

So how do we learn to survive, and then learn to thrive, in this new paradigm?

#finance #careers #artificialintelligence #cfo #financemaster

Open article: How to supercharge your finance career and stay ahead of trends in AI by Anders Liu-Lindberg

https://www.linkedin.com/pulse/how-supercharge-your-finance-career-stay-ahead-trends-liu-lindberg?trackingId=K0Qz1QUeAR8DDDgx3rRPhQ%3D%3D

99 questions and answers for CFOs about the Finance Function.

Like, comment, and repost this one to help more finance professionals find answers to the most critical questions to ask.

Download the FREE PDF version here: https://lnkd.in/gGnSNjUm 

Being a CFO is a tough job with many questions to answer.

We have looked at the ten main responsibilities of a CFO and listed ten important questions and answers for CFOs to cover.

We cover the following responsibilities:

1. Financial Planning & Analysis
2. Financial Reporting
3. Risk Management
4. Cash Management
5. Capital Management
6. Tax Management
7. Investor Relations
8. Corporate Governance
9. Strategic Planning
10. Leadership & Management

Many of the questions are quite complex and are far from answered fully in a one-liner.

However, we believe they all provide guidance and direction to find more in-depth answers.

Review each of the responsibilities and test for yourself if you have good answers.

Which other responsibilities do you believe it's important for CFOs to cover?

And what would be critical questions to answer for CFOs to be successful?

----------

🧑‍💼 I'm a partner at Business Partnering Institute
🆘 Need immediate help in your finance team, call us!
🤝 We help increase the influence of your finance team
🔔 To see more of my content, hit the bell on my profile
📻 Find our #FinanceMaster podcast on your podcast channel

𝗘𝗕𝗜𝗧𝗗𝗔 𝘃𝘀. 𝗙𝗖𝗙: 𝗛𝗲𝗿𝗲'𝘀 𝘄𝗵𝗮𝘁 𝗖𝗙𝗢𝘀 𝗻𝗲𝗲𝗱 𝘁𝗼 𝗸𝗻𝗼𝘄...

They are not the same.

EBITDA is an accounting measure.

FCF is a cash flow measure.

EBITDA is better used to estimate operational cash flow.

FCF is used to estimate how much money is available to service your capital providers.

----------

Now let's turn to a fuller explanation.

EBITDA = Earnings Before Interest Taxes Depreciation & Amortization

FCF = Free Cash Flow

𝘌𝘉𝘐𝘛𝘋𝘈 is a measure of a company's operating performance and profitability before considering non-operating expenses such as interest, taxes, depreciation, and amortization. It is calculated by adding back these expenses to the net income.

𝘍𝘊𝘍 represents the cash a company generates from its operations after deducting capital expenditures (CAPEX). It measures the amount of cash available to the company for reinvestment, debt reduction, dividends, or other uses.

𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗼𝗳 𝗘𝗕𝗜𝗧𝗗𝗔

1. 𝗦𝗶𝗺𝗽𝗹𝗶𝗰𝗶𝘁𝘆: EBITDA is a straightforward metric that provides a quick snapshot of performance.
   
2. 𝗖𝗼𝗺𝗽𝗮𝗿𝗮𝗯𝗶𝗹𝗶𝘁𝘆: EBITDA allows for easier comparison of the operating performance of different companies.
   
3. 𝗙𝗼𝗰𝘂𝘀 𝗼𝗻 𝗰𝗮𝘀𝗵 𝗴𝗲𝗻𝗲𝗿𝗮𝘁𝗶𝗼𝗻: EBITDA is often used to assess a company's ability to generate cash from its core operations.

𝗗𝗿𝗮𝘄𝗯𝗮𝗰𝗸𝘀 𝗼𝗳 𝗘𝗕𝗜𝗧𝗗𝗔

1. 𝗜𝗴𝗻𝗼𝗿𝗲𝘀 𝗻𝗼𝗻-𝗼𝗽𝗲𝗿𝗮𝘁𝗶𝗻𝗴 𝗲𝘅𝗽𝗲𝗻𝘀𝗲𝘀: EBITDA does not account for important expenses such as interest, taxes, depreciation, and amortization.
   
2. 𝗟𝗮𝗰𝗸 𝗼𝗳 𝗰𝗮𝘀𝗵 𝗳𝗹𝗼𝘄 𝗶𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻: EBITDA doesn't provide insight into a company's actual cash flows.
   
3. 𝗦𝘂𝘀𝗰𝗲𝗽𝘁𝗶𝗯𝗹𝗲 𝘁𝗼 𝗺𝗮𝗻𝗶𝗽𝘂𝗹𝗮𝘁𝗶𝗼𝗻: EBITDA can be manipulated by adjusting accounting practices, making it less reliable.

𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗼𝗳 𝗙𝗖𝗙

1. 𝗖𝗮𝘀𝗵 𝗳𝗹𝗼𝘄 𝗳𝗼𝗰𝘂𝘀: FCF provides a direct measure of the cash generated by a company's operations.
   
2. 𝗟𝗼𝗻𝗴-𝘁𝗲𝗿𝗺 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆: FCF is a valuable indicator of a company's ability to generate sustainable cash flows over time.
   
3. 𝗙𝗹𝗲𝘅𝗶𝗯𝗶𝗹𝗶𝘁𝘆: Use FCF to evaluate various aspects of performance, like reinvestment potential and debt-paying ability.

𝗗𝗿𝗮𝘄𝗯𝗮𝗰𝗸𝘀 𝗼𝗳 𝗙𝗖𝗙

1. 𝗖𝗼𝗺𝗽𝗹𝗲𝘅𝗶𝘁𝘆: Calculating FCF can be time-consuming and prone to errors as it requires a lot of analysis.
   
2. 𝗩𝗼𝗹𝗮𝘁𝗶𝗹𝗶𝘁𝘆: FCF is subject to fluctuations due to changes in working capital requirements or capital expenditures.
   
3. 𝗟𝗶𝗺𝗶𝘁𝗲𝗱 𝗰𝗼𝗺𝗽𝗮𝗿𝗮𝗯𝗶𝗹𝗶𝘁𝘆: Comparing FCF across industries is challenging due to differences in accounting practices and capital structures.

----------

Which of the two KPIs is your favorite?

What benefits and drawbacks would you like to highlight?

🧑‍💼 I'm a partner at Business Partnering Institute
🆘 Need immediate help in your finance team, call us!
🤝 We help increase the influence of your finance team

Are you on top of your ESG strategy and how to balance it with financial reporting requirements?

Most finance leaders are not! We will guide you to take the reins on the ESG strategy in your company.

In the next episode of the #FinanceMaster Show, we will discuss how CFOs can balance ESG risks with the requirements for finance reporting.

Clearly, ESG needs to go beyond just reporting but how can CFOs drive this and how do they ensure they still handle the reporting requirements?

Together with LucaNet we will share our views but hope to see you on stage as well where you can ask questions or share perspectives.

Will we see you there?

#sustainability #esg #finance #cfo

View event: The #Financemaster Show 🛑 - E52 - How CFOs balance ESG risks and reporting

https://www.linkedin.com/events/the-financemastershow-e52-howcf7110530215683977217/

The scale and complexity of Environmental, Social, and Governance (ESG) and other types of sustainability ratings continue to evolve and multiply.

For instance, the European Union’s mandatory Corporate Sustainability Reporting Directive means that globally over 50,000 organizations are required to comply with the reporting standards. 

In India, the top 1000 listed companies must disclose their ESG data under the Business Responsibility and Sustainability Reporting frameworks.
 
And, in the United States, the Securities and Exchange Commission’s newly proposed greenhouse-gas emissions reporting requirements are getting more complex.

The new regulations create a requirement to report on Scope 3 emissions (emanating from third-party suppliers and customers) across the board.

This will require a new, efficient way to obtain and analyze this data in a cost-effective way to meet annual ESG reporting requirements.

It's a massive undertaking for the CFO and the finance function and it's important that we don't crumble under its weight.

Let's see how AI could perhaps help us...

#artificialintelligence #esg #finance #cfo #financemaster 

Open article: 5 ways AI can streamline your company’s ESG reporting by Anders Liu-Lindberg

https://www.linkedin.com/pulse/5-ways-ai-can-streamline-your-companys-esg-reporting-liu-lindberg?trackingId=yisT8g1lMm9dmRZ3608osQ%3D%3D

Taplio

Anders Liu-Lindberg's Linkedin Analytics