Estimated network meeting for CFOs and Controllers
On the 27th of May
about 20 CFOs and Business Controllers met Stockholm FP&A Club. This was the second meeting in Sweden arranged
of Association for Financial Professionals (AFP) and the subject was Beyond Budgeting Philosophy.
The evening started with mingling and networking. Then Larysa presented
Melnychuk, Managing Director, London FP&A Club, the topic for the evening with the support of Rikard Olsson and Knut Fahlén
from Ekan Management and Beyond Budgeting Institute.
Most of
the participants recognized the basic problems that the budget entails such as lack
of dynamics and compliance, lock-in effects through annual negotiations as well
extremely time-consuming work. The participants' awareness of possible solutions to
the problems, on the other hand, were vague. One participant asked if there is one
something beyond the budget horizon, or if we are forever locked into one
budget trap that is laid in October the year before and then deviations constantly
shall be analyzed and explained. This despite the fact that in many situations it is impossible to
look one year into the future.
event
was sponsored by Association for Financial Professionals (AFP), which has evolved
the first professional FP&A certification (Financial Planning and
Analysis). For one year now FP&A Club also in London, Kiev, Moscow, Dubai,
Amsterdam and Geneva.