Nicolas Boucher on LinkedIn: Accounting explained to kids Do you have kids? Here is how you can… | 96 comments (2024)

NEW: get my insights directly in your phoneJoin my Whatsapp here: https://lnkd.in/eG6AQRacThe first ones to join will get access to my free financial statements template!Here is what you can expect:- Daily updates- Infographics- Templates- AI Tips- ... and more!Are you joining?🫶 Looking forward to continuing the discussion in Whatsapp!

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How to select your FP&A Tools?My friend Paul will share his analysis here: https://lnkd.in/eAKv2AxAYou don't have time to do the research?Paul is number one specialist in FP&A tools and has reviewed hundreds of solutions for you, so you don't have too.If I were to choose a FP&A tool, I would focus on the 6 functionalities + an extra one: AIAI for:- Generative capabilities: can you get insights generated for you or reports generated for you?- Machine learning: can you use AI to forecast based on machine learning models like time series?But before being good at using AI, they should be good at the following 6 functionailities:1. CollaborationFP&A is working with many departments to analyze and plan financials.Tools providing collaboration capabilities are helping smoothen FP&A processes like budgeting or closing.---2. PlanningBeing able to budget sales, costs, headcount and link it to financial statements in an integrated tool is a game changer for FP&A.---3. ReportingPreparing and sending reports is still a big task for FP&A.Being able to standardize and automate reports will free time for FP&A and allow them to spend more time on added value activities like analysis.---4. AnalysisTools need to start offering analysis like variance analysis, outliers, trends and even simple commentaries to help FP&A go faster in their analysis activities.---5. SpreadsheetBecause you cannot standardize everything, some tasks are and will still be done in spreadsheets.Integrating dynamic data to existing files will unleash a lot of value for users.---6. SpeedIf a tool can pull the data, calculate new measures and build reports in a glance, FP&A will be able to spend more time on business operational topics.Join Paul Barnhurst, The FPandA Guy next week to understand which FP&A tool is the best!👉 Get your seat here: https://lnkd.in/eAKv2AxA

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Steal my Audit ChecklistI have prepared an Excel Checklist to help you in your audit preparationUse this checklist to get ready for your next auditIf you are a CFO, a controller, an accountant or a Finance manager, this list is for you.Download it for free here: https://lnkd.in/eRMqZQhrWhat is inside the Excel file.19 tabs comprising of the following checklists:1. Overview Checklist (in the picture below)2. Financial Statements Preparation3. Account Reconciliation and Analysis4. Documentation and Record Keeping5. Internal Controls and Compliance6. Risk Management7. Tax Review and Planning8. Inventory Management9. Fixed Assets and Capital Expenditures10. Investments and Other Financial Assets11. Employee Benefits and Pensions12. ESG Compliance13. Technology and Data14. Review of New Accounting Policies15. Related Party Transactions16. Subsequent Events and Contingencies17. Sustainability and Continuity Planning18. Communication with Auditors19. Final Review and Reporting👉 If you need any other template, let me know in the comments

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Do you want to know real AI use cases?Join me to learn how to use AI: https://lnkd.in/eXxrvnJbAI Experts Dr. Joerg Storm and Christian Brugger will join me for this free webinar.They will present how they have been implementing AI in many real life projects.🗓️ Date: Tuesday, 4 June ⏰ Time: 12:00 (CET) What you can expect: - Latest AI trends, and strategies for successful AI implementation moving from theory to hands-on practice- Proven approach on AI use case ideation, prioritization, and implementation - Real-life use cases in finance, automotive, industrial and retail sectors - Q&A opportunity with leading AI expertsThis is an exclusive event, make sure to register while seats last!👉 Let me know in the comments which topics you want us to cover.

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Audit vs FP&AOne common question for aspiring finance professionals that I get everyday:Start in audit or jump into FP&A?Here's my take based on personal experience.🔎AUDITI began in audit, which laid a strong foundation for my finance journey.Here is what i learned:-financial statements-internal controls-adapt to different business environmentI also gained exposure to diverse industries, and enhanced my analytical skills.But what is also important:Audit builds work ethic, attention to detail, and meeting tight deadlines.It requires to thrive in fast-paced environments and deliver high-quality work.These qualities are transposable to any other job and that’s why I suggest to start by audit.📊 FP&AThen I transitioned to FP&A.My goal was to apply my experience and knowledge to a specific industry snd company.What did I learn in FP&A?I learn financial planning, analysis, and decision support.And i used my experience to collaborate with leaders, contribute to strategy, and impact the organization.It helped sharpen my strategic thinking and business acumen.🫵 What about you?Ultimately, your choice depends on career goals, interests, and learning preferences.Audit provides technical foundation and exposure to industries.FP&A directly impacts outcomes and drives strategic decisions.Don’t forget that your career journey is dynamic.You can always pivot and explore different areas as you progress.👉 What about you?Did you start in audit or FP&A?Share your experience below!-----------------------------------------🚀 Wanna steal all the knowledge I acquired in audit and FP&A?And do you want to move to FP&A?Or did you just start in FP&A?Then get my course to boost your career.https://lnkd.in/eGfmQFq7✉️ Subscribe to my weekly newsletter.Get free finance insights directly in your inbox.https://lnkd.in/exW973sp

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Finance Explained to Kids4 Complex Finance & Accounting Topics, explained to kids... and adults!Bonus: Free Finance Cheat Sheet: https://lnkd.in/eYH-M4u4Use this for you or forward it to a non finance colleague who needs to see this!1. EBITDAWhat is EBITDA?Earnings Before Interest, Taxes, Depreciation, AmortizationWhy is EBITDA important for Businesses?• EBITDA gives businesses an idea of how much money they're generating from their operations.• This is useful for investors and lenders who want to know how profitable a company is.• It’s like a scorecard to know how much money a company is making.2. CAPEXWhat is CAPEX?Capex, short for “Capital Expenditure”It is a long-term investment made by a business in assets like equipment, property, and buildings.These investments provide benefits to the company for years to come, and can help businesses grow and improve their operations.Why is CAPEX essential for businesses?• It helps businesses grow and improve their operations.• It can help increase productivity and efficiency.• It can provide a competitive advantage in the marketplace.3. CashWhat is Cash Flow?It is like the money that comes in and out of your piggy bank.Why is Cash Flow important for businesses?It is important for Businesses & Adults because they need to make sure they have enough money to:• Pay for things like rent, salaries, and supplies.• Invest in growing business or saving for the future.4. TaxWhat is Tax?Think of tax like a membership fee you pay to be part of a club, but this club is your country or city.This money is used to keep parks clean, schools running, and streets safe.Why is it important?In real life, taxes pay for things like libraries, firefighters, and playgrounds.When you enjoy a clean beach or a safe road, it's partly thanks to taxes.👉 Which other topic do you want me to simplify?👍 Follow me and leave a like or a comment to show your appreciation!_______🤖 Learn ChatGPT and use it to become more productiveAnd secure your future against the rise of AI!Take my ChatGPT for Finance Video Course• 2.5 hours of on demand videos• 92 Pages of PDF• 450+ prompts• Practical exercises•10 Prompt Engineering Methods for Finance• Taken by more than 1,000 people and rated 5 starsDon’t wait until your the last one to use AI for Finance.Start here: https://lnkd.in/dqNUkGD8

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100 Productivity TipsSave 1000s of hours on Excel, Powerpoint, Outlook and WordBookmark this and reshare it to help save other save time!👉 Get the High Resolution PDF here:https://lnkd.in/eTDf6GfJThis list contains all the tips you need.Here is a preview:📊 Excel1. How to autosum adjacent cells?Alt + =2. How to create a waterfall chart?Insert > Chart > Waterfall3. How to insert a new worksheet?Shift + F114. How to track changes in a workbook?Review > Track Changes > Highlight Changes5. How to insert a new column?Ctrl + Shift + "+"(get the answers 6-25 in the Cheat Sheet below)🖥 Powerpoint26. How to convert a text into a diagram?Select text > Convert to SmartArt > Choose a SmartArt Graphic27. How to set slide transitions?Transitions > Transition to This Slide > Effect28. How to loop a PowerPoint presentation?Slide Show > Set Up Slide Show > Loop continuously29. How to compress images in PowerPoint?Select image > Picture Format > Compress Pictures30. How to link Excel tables in PowerPoint?Insert > Text > Object > Create from File > Browse to select Excel file(get the answers 31-50 in the Cheat Sheet below)📧 Outlook51. How to recall an email in Outlook?Open Sent Items > Message > Actions > Recall This Message52. How to set out of office?File > Automatic Replies > Send automatic replies53. How to automatically delay all sent emails by 1 minute?File > Manage Rules & Alerts > New Rule > Apply rule on messages I send54. How to create a new email?Press Ctrl + N55. How to reply to a message?Press Ctrl + R(get the answers 56-75 in the Cheat Sheet below)📑 Word76. How to jump to your most recent edits?Shift + F577. How to track changes in Word?Enable “Track Changes” for real-time editing visibility78. How to insert a table in Word?Insert tab > Select Table > Choose the number of rows and columns 79. How to create a template in Word?File > Save As > Save as type: Word Template (*.dotx)80. How to change line spacing in Word?Home > Line and Spacing > Line Spacing Options(get the answers 81-100 in the Cheat Sheet below)👉 What else would you add?👉 Did you learn something?👉 Which tips is the best?P.S.: like and comment to help spread this cheat sheet.And follow me to get my next Cheat Sheets.

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Free CV TemplateI have reviewed 1000s of CVsIn this post I share my tips and a Free CV Template (normally $27)How to get the template?Like this post, leave a comment or reshare this post.(Everyday you get free value from me, liking or commenting is my only ask 🙏)Then go here to download the free CV: https://lnkd.in/etKjH2Jg(Free but normally should be $27)Here are my top 10 tips:1️⃣ Add a Title:Start your CV with a title that aligns with the job you're targeting.This immediately tells the hiring manager that you are a relevant candidate.2️⃣ Highlight Relevant Skills:Ensure that your CV prominently displays the skills relevant to the job.For an FP&A role, your budgeting, forecasting, and variance analysis skills should be in the spotlight... but don't list it as skill without explanation, rather, say how you demonstrated these skills.For example: "streamlined the budget process by reducing the number of iterations from 5 versions to 3 versions" or "performed an analysis on profitability which highlighted the need to increase the price of product X by 5% to maximize the profitability"3️⃣ Quantify Achievements:Show your impact through numbers.Rather than saying "reduced month end close time," say "reduced month end close by 2 days" .4️⃣ Use Action Verbs:Begin bullet points with action verbs like "managed," "developed," or "implemented."This shows you're proactive and saves space.5️⃣ Tailor Your CV:No two jobs are the same, and neither should be your CVs.Tailor your CV to match the job description and requirements.6️⃣ Keep It Concise:In most cases, your CV should be no longer than two pages.Prioritize information that adds value to your application.7️⃣ Proofread:Small errors can suggest a lack of attention to detail.Proofread thoroughly and have someone else review it too.I have read so many CVs with obvious mistakes which disqualified the applicant.Remember Finance is a job where attention for details is important ;)8️⃣ Formatting Matters:Keep your formatting minimalistic and consistent.Proof check tabulation, bullet point styles, break lines, font sizes etc.9️⃣ Software Skills:Be specific with your software skills.Instead of mentioning "Advanced Excel skills", highlight your abilities to perform Financial Modeling, create Pivot Tables, or use Advanced Formulas.🔟 Focus on Recent Experiences:Spend more space detailing your last two roles and be more succinct with earlier ones.Recency often matters most to hiring managers.👉 Which other tip would you add?You need help with your finance career?You can enroll for free in my 30-day Finance Career AcceleratorEnroll here: https://lnkd.in/ekJzCMGW 👨💻 Exercise for you: Revamp your CV based on the 10 tips above & my templateThen send me your CVNote: Don't send me your CV if you didn't follow all the tips aboveFeedback will come only if you have done your homework (min. 2 hours of work)

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New: Excel and Google Sheets in ChatGPT!👉 Watch the video and tell me what you think!Here is what you will be able to do:- Upload your files from Google Drive- Upload your files from Microsoft OneDriveThen you can:- Interact with tables- Interact with charts- Customize charts for presentations and documents- Download your chartsThis is going fast!👉 Do you think AI will replace Finance and Data Scientist jobs?

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