Financial Planning and Analysis: New Approaches to Target Setting

Published On:
March 25, 2015
Authored By:
APQC
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Although formulas such as last year plus percentage do not necessarily account for the fast-moving, high-impact business risks that are likely to materialize, nearly seven out of 10 survey participants  use this formula in setting annual budget targets. Recent APQC survey respondents concede that using the annual budget as a primary performance management tool is not the answer, so CFOs need new approaches to target setting. This article explains recent survey results and gives insight into other advanced financial planning and analysis techniques.