UNIVERSIDAD AUTONOMA DE NUEVO LEÓN

FACULTAD DE CONTADURÍA PÚBLICA Y ADMINISTRACIÓN

¨CONTADOR PÚBLICO¨

COMPETENCIA
COMUNICATIVA EN
INGLES

TOP 3
CONSIDERATIONS
FOR FP&A SOFTWARE
INTEGRANTES:

DEVANY PATRICIA HERNANDEZ BARBOSA 2041633

AMANDA YAMILETH HUERTA SALAZAR 2058816
YARELI ZUHEIH JIMENEZ JUÁREZ 2004429
CAMILA ESMERALDA MOLINA SUAREZ 1953095
CRUZ ALEXIS PÉREZ TAMEZ 2129053
-VIDEO-
https://youtu.be/unaE4k3Q_tY

Main idea
Secondary idea
INTRODUCTION
The accounting industry is digging deeper into financial planning
and analysis. Although this FP&A strategy has long been important
for accountants, in recent years, firms have begun placing far
more emphasis on the financial forecasting aspect.

While legacy accounting tools may still have a role to play in

FP&A, their limitations ultimately lead to frustration and
inefficiencies when forecasting.

Software is the name of the game in accounting. However, there

are three major aspects to software that can make or break the
quality of your product and your ability to scale:

Availability of automation.
Ease of use.
Function over form.
 -Availability of automation-
Automation is an undeniably important feature of an FP&A tool. It’s also overwhelmingly lacking
within most legacy tools. Not only does automation eliminate a significant amount of busy work
that’s common with legacy accounting tools, but it can also get you much closer to real-time views
of your clients’ businesses.
You can view FP&A automation as an essential way to increase the number of high-value services
that you can offer, making you much more profitable.
 -Ease of use-
Legacy tools like Excel have certainly made leaps and bounds in ease of use over the years.

However, the primary issue with these tools is their UI has changed little from the early era of graphical
user interfaces.

What's more, legacy tools require far more hands-on programming than modern software built
specifically for FP&A.

And because each client's needs are different, simply creating one macro or copying and pasting
someone else's code likely won't be enough.
 The fintech space is exploding with tools designed for CPAs to perform
financial planning and analysis tasks like financial forecasting. Not all
tools are created equal, however, and not all tools put their
development time into the quality of the tool's functions.

There are many tools available right now that don't offer the flexibility

-Function on the balance sheet that people need

At Summit CPA Group, we strongly believe in regularly assessing the
effect of our tech stack on our KPIs.
over from- Of the tools in our tech stack, PlanGuru and Jirav have among the
longest tenure. Built from the ground up around forecasting, they are
incredibly robust for FP&A and especially for financial forecasting.

Financial forecasting is now a must-have for CPAs and CFOs. But more
important than offering FP&A is providing clients with correct and
actionable information.
CONCLUSION

Financial planning and analysis helps to make more profitable decisions, because it is a process of
information that include planning, budgeting, forecasting, scenario modeling, and performance reporting.
It’s an indispensable tool to guarantee business achievement, which allows
anticipating and showing future problems, taking stock of the company's position
and establishing a course to follow; as well as providing a framework for
determining the financial impact and effects.
 GLOSSARY
Overwhelmingly (abrumadoramente): is extremely
Profitable (provechoso): yielding advantageous returns or results
FP&A (Planificacion y Analisis Financiero): Financial planning and analysis
Tools (herramientas): a way of support or help
Automation (automatización): is the creation and application of technologies to produce and deliver goods and
services with minimal human intervention.
Bounds (límites): limits of an activity or behavior
Forecasting (pronostico): is a decision-making tool used by many businesses to help in budgeting, planning, and
estimating future growth. In the simplest terms, forecasting is the attempt to predict future outcomes based on past
events and management insight.
Assessing (evaluar): determining the importance or value of something. It also has a few specialized uses having to
do with amounts of money, such as fines, fees, and taxes. It can mean to set the value of property for purposes of
taxation, or to charge a person or business a tax or fee.
Undeniably (innegablemente): in a way that is certainly true.
UI (Interfaz de usuario): is the point of human-computer interaction and communication in a device.
Personal conclusions
 Devany Patricia Hernandez Barbosa
In this evidence we talk about the topic of 3 main considerations for FP&A software, which are:
1-Availability of automation
2-Ease of use
3-Function over form.
I realized that the accounting industry is deepening in financial planning and analysis. For every consideration
for FP&A software I realized that just as they have their advantages they also have their disadvantages. Point
number 1: Availability of automation: automation is important, it will lead to more growth in the future, but it will
also cause some accountants to lose their jobs. Point number 2: Ease of use: tools like Excel have helped us a lot,
however, the main problem with tools like these is that different people want different things because the more
complicated the accounting tool, the more challenging it is to create dashboards to help you. Finally point
number 3: Function over form: it is exploding with tools designed for CPAs to carry out financial analysis and
planning tasks, such as financial forecasting. However, not all tools are created equal, and not all tools spend
their development time on the quality of the tool's features. With all this, I came to the conclusion that technology
has been a great advance for humanity, it helps us with tasks and jobs, but it is also gradually taking control of
almost everything we do.
 Amanda Yamileth Huerta Salazar
In this work we were able to investigate the topic of the main considerations for FP&A software. In a
collaborative way we investigated this topic to be able to expose it, thanks to this work we were able
to learn a little more about the accounting and software industry, for us it is very important to do this
type of task, since it helps us throughout our life.
career and it will be useful for our working life in the future, carrying out this investigation we reached
some conclusions:
The accounting industry is delving into financial planning and analysis.
many accountants and businesses are running into a huge but expected software hurdle as they don't
know how to use it.
Legacy accounting tools (specifically, Excel and QuickBooks) may still have a role to play in FP&A, their
limitations ultimately leading to frustration and inefficiencies when it comes to forecasting.
Software is the name of the game in accounting.
However, there are three main aspects of software that can make or break the quality of your product
and its ability to scale: Availability of automation;
Easy to use; and,
Function over form.
Financial forecasting is now a must for CPAs and CFOs. But more important than offering FP&A is
providing clients with correct and actionable information.
 Yareli Zuheih Jimenez Juárez
In this evidence we talk about finance in countability, we are very interested in this subject because this will
help us in the future to know what's happening outside the university, not to say the real life. The industry has
so many technologies and now they use software to make so much easier the job; we mentioned 3 aspects to
break the quality of your product or make it better for the costumer which are: Availability of automation,
Ease of use and Function over form, and all the team did a resume about these 3 aspects showing the most
important information about each paragraph and trying to make visible to all accountants to work with
sotfware to be precise and prepare whit good time your financial statements instead of being hours in Excell
only creating macros losing your time. If you want to work in a big business, you need to be competitive and
show your knowledge about technology generating impact with your co-workers, being the best in cash
balances and the article tried to offer their tech stack for work better and faster.
I enjoyed recording trying to improve my pronunciation and did resume of articles about my career, I
understood the importance of working hand by hand with technology and try to fit with the companies you
work for.
 Camila Esmeralda Molina Suarez
To conclude this presentation I will summarize a little about what we did in this presentation, we saw three
important aspects in the software and how it helps us in the planning and financial analysis that first we have the
Availability of automation that serves to increase the number of high value services that can offer, then the
Ease of use, where users must have this aspect for a better management of software such as excel.
and finally Function over form.
The financial planning and analysis is something very common in our work area because we are always going to
see them normally at the end of the month for the closings of the exercises and movements of the whole month
and a good financial tool could make our work easier.
The use of software in companies apart from making the work easier makes employees have a better mental
health because they do not wear out so much doing their daily work and enjoy their stay more or do not get
frustrated so much.
It is interesting to see how every day tools are updated to make human work easier and faster but this makes us
think that at some point we will no longer be indispensable because technology will do everything for us.
 Cruz Alexis Pérez Tamez
In conclusion, it is possible to give more importance to new systems that focus on financial planning and analysis.
Because they will be able to facilitate all the jobs that many people do, in order to eliminate the large amount
of work that has been done by the old forms of accounting tools, it helps a lot to better manage the work for
new clients. who are interested in getting involved with the company, in order to give them a better
development of their financial records.
However, basic systems that are inherited from spending years in accounting, have a more difficult way to
develop, as you have different types of tools that have been modified by different clients, which takes much
longer than requested. .
Currently there are many types of systems developed for the use that each company wants to give them, that is,
achieving better control and thus being able to see the greatest growth of a company. All the current
accounting systems are moving better and leaving behind the old systems practiced for years in accounting, so
that everyone can focus on their knowledge and experience on the different systems that exist, so that they can
have a better future in them.
 Bibliographic References

Wadelton, T. (2023, 7 febrero). Top 3 considerations for FP&A software. Accounting

Today. https://www.accountingtoday.com/list/top-3-considerations-for-fp-a-
software