FAAS is the leading company for FP&A services for startups and technology companies.
FAAS serves as the start-up's FP&A department
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FP&A Vs. Accounting
The accounting department records financial transactions of a company which consists of sales, invoices, purchase orders, cash receipts, etc. The accounting department focuses on "what" happened and ensures all financial transactions are recorded accurately. This allows accurate data to be analyzed by the FP&A department.
The FP&A professional is more concerned about "why" it happened, finds the story hidden in the financial data and forecasts future period results using insights learned from the analysis. They also provide recommendations to upper-level management about the strategic and operational decisions.
In short, the FP&A professional is analyzes changes in the numbers, while accounting records them!