Communicating Financials to Executives - Anders Liu-Lindberg

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Résumé :

A hands-on guide to the effective communication of financial data, ideas, and insights

In Communicating Financials to Executives, veteran finance practitioners and consultants Anders Liu-Lindberg and Christian Frantz Hansen deliver an indispensable discussion of how to clearly, effectively, and productively communicate financial reports to executives. In the book, Liu-Lindberg and Hansen walk you through a five-step approach to the persuasive communication of financial information. They combine theory with practical, hands-on guidance on data presentation strategies that bring significant value to the table and lead to greater business success in the organisation.

The authors explain the executive decision-making process and how you can tailor your financial data presentation approach to integrate into it, as well as techniques for managing the amount of detail in your communications and appropriately structuring your data for maximum impact. You'll also discover how to incorporate visual storytelling to better communicate ideas to people who have difficulty understanding raw numbers in a spreadsheet.

Communicating Financials to Executives is the perfect guide for finance professionals who want to ensure that the information and insights they deliver to executives is actually understood and acted upon....

Biographie:

Anders Liu-Lindberg is a finance practitioner and consultant who trains accounting and finance professionals to better influence and communicate with executives. He's a Partner and co-founder of the Business Partnering Institute.

Christian Frantz Hansen is a Partner and Head of Learning and Development at the Business Partnering Institute. He operates learning and development programs to upskill finance professionals to become more impactful finance business partners....

Sommaire:

Author Biographies xi

Preface

Our Experience with Financial Communication xiii

Chapter 1 Why Financial Communication to Executives Requires Special Attention 1

The Pressure Is Mounting on Executives 3

Insight ? Influence = Impact 4

The Purpose of Finance 7

The Value of Finance 10

The Intrinsic Motivation for Finance Professionals 12

The Job Is on the Line 14

All We Need Is a Framework for Financial Communication 15

Chapter 2 The Struggles of Finance Professionals To Communicate Financials 17

The Three Main Challenges 19

Sharing Too Many Details 21

Having No Consistent Structure 23

Making No Apparent Recommendations 26

Chapter 3 Five STEPS FOR COMMUNICATING FINANCIALS To Executives 31

Take a Customer-Centric Approach 33

From Data to Insights 36

Five Steps for Financial Communication to Executives 38

Info 39

Insights 41

Recommendation 42

Evidence 44

Action 46

Sarah Gets to Know Her Customers 47

Chapter 4 Step 1: Information: What Is the Financial Status? 51

Define an Objective and Target Stakeholder 52

Consider Your Audience 55

Data Extraction: Access Relevant Data Sources 57

Data Preparation: Build on a Proper Foundation 59

Master Data Management 59

Data Cleaning 60

Chart of Accounts and Financial Statements 62

Data Analysis: Extracting Relevant Insights 63

Horizontal Analysis 64

Vertical Analysis 66

Variances and Deviations 69

Using Technology to Your Advantage 70

Data Selection: Present Only What Matters 72

Moving from Information to Insights 75

Sarah's Data Struggle 76

Chapter 5 Step 2: Insights: What Are the Key Attention Points? 79

What Is an Insight? 80

Cater to Your Audience 85

Empathy: Present Insights Relevant to Your Stakeholders 86

Verify Your Understanding 90

Acknowledge Personality Types 91

Types of Analytics 93

Tips on How to Communicate Your Insights 99

Tip 1: Golden Rule of Three 99

Tip 2: Curate Based on Criteria 101

Tip 3: Do not Just Summarize - Synthesize 104

Moving from Insights to Recommendations 106

Sarah Uncovers the Root Causes of Poor Revenue Performance 108

Chapter 6 Step 3: Resolution: What Can We Do About It? 113

Distinguish Between Output and Outcome 115

Dare to Have an Opinion 118

Leverage Structured Problem-Solving 120

Define the Problem 121

Disaggregate the Problem 124

Design the Solution 128

Tips for Making a Recommendation 129

Prototype - Make Your Solution Visible 129

Present Options - There Is Never Just One Solution Option 130

Anticipate Objections - Be Ready with a Reply 131

Supporting Your Recommendation with Arguments 132

Sarah Ideates Potential Solutions 132

Chapter 7 Step 4: Argumentation: Why Is This a Good Idea? 137

The Difference Between Argument and Facts 138

Facts: The Foundation of Trust 138

Arguments: The Art of Persuasion 139

The Interplay of Facts and Arguments 140

The Magic Number of Three: Why Three Arguments Are Ideal 142

The Psychology Behind the Number Three 143

Three Arguments to Convince Management 144

Expanding the Definition of Facts Beyond Numbers 146

Expert Statements 146

Customer Testimonials 147

Industry Research 148

Integrating Non-Numerical Facts with Financial Data 149

The Importance of Selectivity 150

Why Selectivity Matters 150

How to Select ...