Financial Planning & Analysis and Performance Management

6COMMUNICATING AND PRESENTING FINANCIAL INFORMATION

CHAPTER INTRODUCTION

All analytical projects are made up of several phases. First, the objective must be understood, the client identified, and the work flow planned. Second, the analytical work is completed, including research and “crunching the numbers.” The third and most important phase is to present and communicate the findings of the analytical work. The analysis should also call for some action and highlight alternative courses, and should recommend that a mechanism for monitoring progress be set in place. In this chapter, we will be focusing on the presentation and communication of the results of the analysis.

The greatest analysis will fail to achieve its objective if the results of the analysis are not presented or communicated effectively. In addition, financial managers should also recognize that, to a large extent, their careers may be limited if they cannot effectively communicate. What do you call a good accountant with excellent communication and presentation skills? The CFO!

LAYING THE FOUNDATION FOR SUCCESS

There are a number of behaviors and practices that can enhance the effectiveness of communicating finance and business information. These include outgrowing the behaviors of a stereotypical accountant, knowing your audience, developing a messaging strategy, educating nonfinance managers, and choosing the best delivery method.

Overcoming the Accounting Stereotype

Accountants and financial types ...