Hi, it’s Steve from CFO.University. Welcome to our course ‘Accounting and Finance for non Accounting and Finance Professionals’. Our goal today is to teach you some key points about these professions. With finance being the universal language of business, we believe this is a great professional growth opportunity for you. Enjoy the learning filled journey you are about to embark on.
As just about any finance professional knows, there’s a huge need for FP&A teams to become more strategic partners to the business. When we surveyed more than 300 CFOs on how FP&A can play a broader role in guiding corporate planning and performance, 75% said they wanted their teams to have a significant and strong impact on their organization—but only 46% believed they could have that kind of impact in the near future. What was the disconnect? The chief reason cited was a lack of time for strategic planning.
Like any industry, logistics has a multitude of terms that are commonly used but are foreign to executives unfamiliar with the day-to-day operations. To have a successful supply chain, the CFO must have a basic understanding of the terminology involved in the coordination and management of goods from all facets of the company, its suppliers, distributors, partners, and customers.
WHAT is Bottom Up Leadership?
Bottom-Up leadership is thinking differently and being the pioneer amongst the other executives who promote a better way of thinking and doing. Bottom up leaders contribute towards the career journey of an individual, with the principle of “lead as if you were following”.
This will not be news to some of you, but taking a route through Finance business partnering is now the best way to achieve your ambition of getting into a CFO role.
It used to be the case that financial control and reporting was the established path to the Chief Financial Officer’s chair. A solid Financial Controller was seen as not only the CFO’s right hand person, but the CFO’s natural successor.
This, I believe, is not the case any more.