8: Operating Levels of the Finance Function

Question 1

financial planning and analysis (FP&A)

Answer 1

anything geared for the organisation to set, monitor and evaluate their progress in achieving goals/objectives

analysing the organisation’s performance against CSFs to derive a range of KPIs

Question 2

taxation

Answer 2

minimising risk and creating value by using technical expertise to lawfully reduce the amount of tax a business pays

Question 3

project management

Answer 3

delivering a specific project for a specific purpose on time, at the right quality and within budget
- quality/iron triangle

Question 4

5 stages of project management

Answer 4

1. initiation
2. planning
3. execution
4. control
5. review and close

Question 5

project appraisal

Answer 5

analysing the financial and non-financial aspects of potential projects

help to support management decisions

Question 6

strategic partnering for value

Answer 6

extending the concept of business partnering to the most senior levels within an organisation

Question 7

benefits of strategic partnering for value

Answer 7

ensuring that senior leadership has the necessary information to make strategic decisions

being the voice of reason

being a forward thinker

being a trusted source of information

increasing the agility/responsiveness of the organisation to change/disruption in the digital era