How to do financial planning and analysis

Financial planning and analysis (FP&A) teams play a crucial role in companies by performing budgeting, forecasting, and analysis that supports major corporate decisions. FP&A analysts utilise both quantitative and qualitative data from all operational aspects of a company to evaluate progress toward short and long-term goals. 

FP&A analysts consider economic and business trends, review past company performance, and attempt to anticipate obstacles and potential barriers to growing company wealth. They oversee a broad range of financial affairs, including income, expenses, tax, capital expenditures, financial statements and investments. 

At Prime Financial, we believe that everyone should take stock of their total financial position, be it as a company, an individual or a family. This can be an intimidating proposition for some, but playing the ostrich with your head in the sand exposes you to a kick that can truly hurt. 

If you do prefer to analyse and plan your finances yourself, you should:

Step 1: Determine your goals

Write down a list of positive financial goals. A goal could be to pay off a property as fast as possible or it could be to retire comfortably. Perhaps you want to save money for your child’s educational expenses? 

Step 2: Budget

In the age of the internet, you can find a huge range of budgeting tools to help you better understand the way you spend money. If you have a company, this budget should include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows. 

Step 3: Review

If you don’t like what you see, change your position. This might mean cutting back on certain costs, skipping this year’s holiday, taking on a second job or asking your boss for a pay rise. Other options could be to borrow and build an investment portfolio or ramp up your super investments. 

What our clients say

“Prime provides us a highly personalised service covering our financial needs. Our strategic advice has been proactively provided whilst ensuring our investments are professionally managed without requiring our daily input. We feel comfortable knowing Prime is looking after our investments.”

Ian, VIC

“In working with Prime, I have been connected with a trusted ‘go to’ source of knowledge, mentorship, tools, services, contacts and – most importantly – a friend on the ground for anything related to financial decisions when feeling a little overwhelmed.”

Amy, QLD

“I am very pleased with Prime. I have called my adviser when I have questions and have always received prompt replies and all of the support I needed.”

Bob & Denise, NSW

“We are busy running our business, which takes up most of our time! To have someone we know and trust in charge of our money is so comforting. I enjoy the quick and clear communications I have with my adviser and I trust his suggestions for our investments.”

Jack and Pauline, VIC

“We have worked with Prime for fifteen years as our financial adviser. Prime has always guided us through with professional advice on our financial decisions, whether it be in the local office or over the phone. We have found our adviser, Garry, has gone above and beyond the call of duty with regards to our retirement and financial matters in a friendly and caring way.”

Karen & Russell, QLD

“I find Michelle service to me is of high value. She is knowledgeable and transfers the information to me clearly. Thank you Prime.”

Kathryn, WA

“We have always felt that our advisor listened carefully to what we expected and responded appropriately. Livio is always interested in us as a couple and our lifestyle- we have never felt like we were bulk handled.”

Ian & Cherie, VIC

“I have been a client of Prime for just over 3 years and I am confident that the advice and service I have received during that time has been in my best interests.”

Lannette, QLD

“I have been using Prime for many years and one of the things I appreciate most is that their advice is only a phone call away and I always feel as a customer that Prime have my best interest at heart. It is a very personal service executed by very personable and helpful individuals. My advisor feels like family I am very satisfied.”

Christopher, ACT

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