Financial Objectives Worksheet Template
The CFO should complete the Financial Objectives Worksheet Template with “SMART” financial objectives that include detailed actions required and measurement goals, including explicit figures. To complete FA1000-1 FINANCIAL OBJECTIVES, the CFO should ensure each column is completed thoroughly and accurately.
The columns should be completed as follows:
- Specific Objective – Avoid vague declarations (e.g., “fiscally sound”). State specific objectives; for example, dollar amounts or percentages.
- Measurement – Measurable objectives should relate directly to regularly appearing line items on monthly, quarterly, and yearly accounting and financial statements, in other financial or operational reporting, or results of financial statement analysis, so that actual performance can be clearly compared with stated objectives.
- Steps to Attain – Objectives can be demonstrated as attainable by listing specific steps or concrete actions that can be taken to reach the objective (i.e., an objective for increased sales should list concrete steps needed such as hire 3 new sales people for 2 new markets).
- Relevant – Objectives listed should be described as clearly relevant to the financial performance of the company and within the responsibilities of the Finance department. It should also include if and how the objective aligns with the business plan, industry standards, market dynamics, or customer needs.
- Time Frame – The specific time frame applicable for this objective should be included here (i.e. which fiscal year, which quarter of which fiscal year, what period or range of fiscal years).
Financial Objectives Worksheet Template Details
Format: Microsoft Word 2013 (.docx)
Category: Finance Administration
Procedure: Financial Objectives Procedure FA1000