April 2025
Beginner
304 pages
4h 7m
English
Content preview from Communicating Financials to Executives
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Chapter TwoThe Struggles of Finance Professionals to Communicate Financials
We have now discussed why it is vital for executives that we communicate financials effectively to them. We have also reviewed what our motivation in doing so should be. This should create both an awareness and a desire for us to start communicating differently. Before we turn to how to communicate differently, we will review some of the main challenges we have encountered when finance professionals communicate financials. We will also introduce our case study, where we will meet Sarah, a Senior Financial Analyst at Solara Tech Inc., a mid-sized company specializing in developing and manufacturing solar energy systems and battery storage solutions.
Our purpose in reviewing the challenges is twofold. On the one hand, we want to show how we empathize with your situation. On the other hand, we hope that you will recognize some of these challenges in your daily work. If you do not and this is not your situation, that is okay; perhaps this book is not for you. Our experience shows, that 95% of all finance professionals could improve their financial communication.
This number is not based on scientific research, but we would offer two data points. One is from all the reporting from finance professionals we see in our work with clients and previous industry experiences. The other is from asking simple questions: What is the result of your management report? Is it data, information, insights or a recommendation? ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.