Finance + Business = A Happy Marriage? David Colson, CPA Treasurer & VP of Finance 2015 ROCKY...
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Transcript of Finance + Business = A Happy Marriage? David Colson, CPA Treasurer & VP of Finance 2015 ROCKY...
![Page 1: Finance + Business = A Happy Marriage? David Colson, CPA Treasurer & VP of Finance 2015 ROCKY MOUNTAIN SUMMIT.](https://reader036.fdocuments.us/reader036/viewer/2022062516/56649dc45503460f94ab74ad/html5/thumbnails/1.jpg)
Finance + Business =A Happy Marriage?
David Colson, CPATreasurer & VP of Finance
2015 ROCKY MOUNTAIN SUMMIT
![Page 3: Finance + Business = A Happy Marriage? David Colson, CPA Treasurer & VP of Finance 2015 ROCKY MOUNTAIN SUMMIT.](https://reader036.fdocuments.us/reader036/viewer/2022062516/56649dc45503460f94ab74ad/html5/thumbnails/3.jpg)
2015 ROCKY MOUNTAIN SUMMIT
What Makes a Good Marriage?
2 parties who positively support and challenge each other to make solid
life decisions
YOU + Business
![Page 4: Finance + Business = A Happy Marriage? David Colson, CPA Treasurer & VP of Finance 2015 ROCKY MOUNTAIN SUMMIT.](https://reader036.fdocuments.us/reader036/viewer/2022062516/56649dc45503460f94ab74ad/html5/thumbnails/4.jpg)
2015 ROCKY MOUNTAIN SUMMIT
Characteristics of a Good Marriage
CompromisePlanning for the future
Adapting to changeTrust
Commitment
![Page 5: Finance + Business = A Happy Marriage? David Colson, CPA Treasurer & VP of Finance 2015 ROCKY MOUNTAIN SUMMIT.](https://reader036.fdocuments.us/reader036/viewer/2022062516/56649dc45503460f94ab74ad/html5/thumbnails/5.jpg)
2015 ROCKY MOUNTAIN SUMMIT
FP&A Areas of Opportunity:Decision Support
Budgeting & Strategic PlanningEffective ForecastingBusiness Partnering
Team Building
Leads to Corporate Influence
![Page 6: Finance + Business = A Happy Marriage? David Colson, CPA Treasurer & VP of Finance 2015 ROCKY MOUNTAIN SUMMIT.](https://reader036.fdocuments.us/reader036/viewer/2022062516/56649dc45503460f94ab74ad/html5/thumbnails/6.jpg)
2015 ROCKY MOUNTAIN SUMMIT
Decision Support(Ad hoc Projects)
Considerations:Cost/Benefit Relationships
Risk vs. RewardHow do we quantify?
Compromise
![Page 7: Finance + Business = A Happy Marriage? David Colson, CPA Treasurer & VP of Finance 2015 ROCKY MOUNTAIN SUMMIT.](https://reader036.fdocuments.us/reader036/viewer/2022062516/56649dc45503460f94ab74ad/html5/thumbnails/7.jpg)
2015 ROCKY MOUNTAIN SUMMIT
Decision Support(continued)
Key Take Aways:Facts and Data NOT People and Personalities!
Resources are Limited
Compromise
![Page 8: Finance + Business = A Happy Marriage? David Colson, CPA Treasurer & VP of Finance 2015 ROCKY MOUNTAIN SUMMIT.](https://reader036.fdocuments.us/reader036/viewer/2022062516/56649dc45503460f94ab74ad/html5/thumbnails/8.jpg)
2015 ROCKY MOUNTAIN SUMMIT
Budgeting Video
![Page 9: Finance + Business = A Happy Marriage? David Colson, CPA Treasurer & VP of Finance 2015 ROCKY MOUNTAIN SUMMIT.](https://reader036.fdocuments.us/reader036/viewer/2022062516/56649dc45503460f94ab74ad/html5/thumbnails/9.jpg)
2015 ROCKY MOUNTAIN SUMMIT
Budgeting
Basic Budgeting:Financial roadmapManage resources
Influential Budgeting:Is your budget founded on a strategic
plan?
Planning for the future
![Page 10: Finance + Business = A Happy Marriage? David Colson, CPA Treasurer & VP of Finance 2015 ROCKY MOUNTAIN SUMMIT.](https://reader036.fdocuments.us/reader036/viewer/2022062516/56649dc45503460f94ab74ad/html5/thumbnails/10.jpg)
2015 ROCKY MOUNTAIN SUMMIT
Forecasting
How often?Usually monthly or quarterly
Long or short range?Rolling forecasts are better
Adapting to change
![Page 11: Finance + Business = A Happy Marriage? David Colson, CPA Treasurer & VP of Finance 2015 ROCKY MOUNTAIN SUMMIT.](https://reader036.fdocuments.us/reader036/viewer/2022062516/56649dc45503460f94ab74ad/html5/thumbnails/11.jpg)
2015 ROCKY MOUNTAIN SUMMIT
Forecasting (continued)
Art or Science?Both
How to avoid scenario hell?Goal Posting
Adapting to change
![Page 12: Finance + Business = A Happy Marriage? David Colson, CPA Treasurer & VP of Finance 2015 ROCKY MOUNTAIN SUMMIT.](https://reader036.fdocuments.us/reader036/viewer/2022062516/56649dc45503460f94ab74ad/html5/thumbnails/12.jpg)
2015 ROCKY MOUNTAIN SUMMIT
Business Partnering
Partner with key decision makers
Advertise your skills
Build credibility
Trust
![Page 13: Finance + Business = A Happy Marriage? David Colson, CPA Treasurer & VP of Finance 2015 ROCKY MOUNTAIN SUMMIT.](https://reader036.fdocuments.us/reader036/viewer/2022062516/56649dc45503460f94ab74ad/html5/thumbnails/13.jpg)
2015 ROCKY MOUNTAIN SUMMIT
Team Building
Hire the best people
Develop their skills and talent
Show your appreciation
Commitment
![Page 14: Finance + Business = A Happy Marriage? David Colson, CPA Treasurer & VP of Finance 2015 ROCKY MOUNTAIN SUMMIT.](https://reader036.fdocuments.us/reader036/viewer/2022062516/56649dc45503460f94ab74ad/html5/thumbnails/14.jpg)
2015 ROCKY MOUNTAIN SUMMIT
Recap
Areas of Opportunity for You:Decision Support – Compromise
Budgeting – Planning for the futureForecasting – Adapting to change
Business Partnering – TrustTeam Building - Commitment
![Page 15: Finance + Business = A Happy Marriage? David Colson, CPA Treasurer & VP of Finance 2015 ROCKY MOUNTAIN SUMMIT.](https://reader036.fdocuments.us/reader036/viewer/2022062516/56649dc45503460f94ab74ad/html5/thumbnails/15.jpg)
2015 ROCKY MOUNTAIN SUMMIT
Happy Marriage
Successful Future
BusinessFinance
![Page 16: Finance + Business = A Happy Marriage? David Colson, CPA Treasurer & VP of Finance 2015 ROCKY MOUNTAIN SUMMIT.](https://reader036.fdocuments.us/reader036/viewer/2022062516/56649dc45503460f94ab74ad/html5/thumbnails/16.jpg)
2015 ROCKY MOUNTAIN SUMMIT
Questions?
Experiences you would like to share?