--- title: Create Focus in Advisory Conversations with Budget to Actuals description: How accounting and CFO advisory firms can lean into a budgets versus actuals discussions for having a productive dialogue with clients and create plans. --- ![](https://www.jirav.com/hs-fs/hubfs/Imported%20sitepage%20images/header-logo.png?width=98&name=header-logo.png) - [ Solution ](https://www.jirav.com/reporting-planning-purpose-built-for-accounting-cfo-advisory-firms) - Menu / Solution - [Reporting & Dashboards ](https://www.jirav.com/accounting-reporting-and-dashboards) Streamline and automate financials and dive deeper into the analytics [Planning, Budgeting & Forecasting ](https://www.jirav.com/accounting-planning-budgeting-forecasting) Dynamically forecast your client’s income statement, balance sheet, and cash flow [Integrations ](https://www.jirav.com/product/advisory-integrations) Quickly connect accounting, payroll, and operational data [Industry Solutions ](https://www.jirav.com/accounting-industry-solutions) Utilize industry-specific templates crafted from best practices - [ Services ](https://www.jirav.com/accounting-services-page) - [ Partner Program ](https://www.jirav.com/partner-program-accounting-firms) - [ Customer Stories ](https://www.jirav.com/advisory-firm-customer-case-studies) - [ Pricing ](https://www.jirav.com/pricing) - [ Resources ](https://www.jirav.com/resources) - Menu / Resources - [Resource Center ](https://www.jirav.com/resources) Blogs and resources on all things finance, FP&A, and Jirav [Webinars ](https://www.jirav.com/webinars) Learn more about Jirav and FP&A from industry experts [Events ](https://www.jirav.com/events) See our upcoming calendar of events [Help Center ](https://help.jirav.com/) Guide on how to use Jirav - [ Company ](https://www.jirav.com/company) - Menu / Company - [About ](https://www.jirav.com/company) Learn about Jirav’s story and meet our leadership team [News Coverage ](https://www.jirav.com/news) See the latest news and highlights [Press ](https://www.jirav.com/press-releases) Recent company announcements and updates [Careers ](https://www.jirav.com/careers) View current job openings and learn how to join the Jirav Tower ![business_env](https://www.jirav.com/hubfs/business_env.svg) [ For Businesses ](https://www.jirav.com/reporting-planning-purpose-built-for-businesses) [ Get a Demo ](https://www.jirav.com/request-demo) [ Sign in ](https://app.jirav.com/) ![](https://www.jirav.com/hubfs/April2021/images/banner-shap.png) BLOG # Create Focus in Advisory Conversations with Budget to Actuals [![](https://www.jirav.com/hubfs/April2021/images/fb-icon.png) ](http://www.facebook.com/share.php?u=https://www.jirav.com/jirav-accounting-and-cfo-firms-blog/create-focus-in-advisory-conversations-with-budget-to-actuals/) [![](https://www.jirav.com/hubfs/April2021/images/tw-icon.png) ](https://twitter.com/share?url=https://www.jirav.com/jirav-accounting-and-cfo-firms-blog/create-focus-in-advisory-conversations-with-budget-to-actuals/) [![](https://www.jirav.com/hubfs/April2021/images/in-icon.png) ](http://www.linkedin.com/shareArticle?mini=true&url=https://www.jirav.com/jirav-accounting-and-cfo-firms-blog/create-focus-in-advisory-conversations-with-budget-to-actuals/&summary=&source=CeBIT) 3 minute read ![](https://www.jirav.com/hubfs/April2021/images/Resources-tile-pattern-giraffe@2x.png) After your hard work putting together a budget, tracking, and cleaning up data with your clients, the big moment arrives…. the actuals start rolling in!  No budget vs. actuals will be perfect, so this is an opportunity to further refine and do some detective work with your clients. In fact, this detective work can be the focus of advisory conversations with your client, building a collaborative relationship and adding significant value.  #### Drive Advisory Conversations with Forecasts   [Forecasts](https://www.jirav.com/blog/projection-vs-forecast) can be your solid starting point, an anchor for discussions with clients when figuring out variances. Before meeting with your client: 1. 1) Comb through the results to see where the biggest differences in predicted and actual outcomes occurred. 2. 2) Don’t look to explain every difference as you come across them. Instead, compile the areas where the biggest differences occurred first after your first review. 3. 3) Once you have the biggest factors singled out, then start the analysis. If not, you may waste valuable time without the full picture.  Remember that every point you make should stem from something observed in the [forecast](https://www.jirav.com/blog/advisory-services-financial-forecast) and the [variance report](https://www.jirav.com/blog/how-to-maximize-value-of-variance-report). #### Discover the Differences   A crucial thing to remind your client about forecasts is this: *differences aren’t failures.* Many events can happen that create a gap between the real world and the predictions, many of which are external to your client’s operations. For example, [COVID-19 impacted nearly every business](https://www.ilo.org/static/english/intserv/working-papers/wp077/index.html), but no one could have been expected to include it in their forecasts at the end of 2019.  Here are some tips for the difference discovery process: 1. 1) Work with the data you have, trying to paint as clear of a picture as you can of where these differences came from.  2. 2) Tie in [operational data](https://www.jirav.com/blog/how-to-connect-operational-data-in-financial-forecasting-models) where applicable, there will be key information about things like headcount that will fill in some of the gaps. 3. 3) As you’re going through the differences, start writing down notes on what may have happened. Structure your notes as a cause and effect. Single out the factors that contributed to the variance first and then the resulting outcome. Make note of any unexplainable differences, and be ready to ask your clients to fill in the information gaps. #### Dialogue with Clients   Never shy away from asking questions to your clients about variances. You may be the accounting expert, but they are the experts in their operations. 1) Create the expectation that the best results come from regular dialogue.   2) Ask your client about any challenges they faced or any stressors that infringed on their operations. You might get some new information that’s the final piece of the puzzle. 3) Set regular touchpoints with clients instead of waiting for the end of the year. Decide if it’s going to be weekly, monthly, or another frequency that suits you both. #### Your Responsibilities in Client Communications   Remember that you don’t have a crystal ball, and you can remind clients of your roles as their [FP&A advisor](https://www.jirav.com/finance-and-fpanda): - Compiling the information - Highlighting the biggest differences - Proposing hypotheses based on prior experience - Asking questions to your clients - Documenting your communications and client responses  - Updating reports and [adjusting the model](https://www.jirav.com/blog/5-steps-better-financial-modeling) #### Determine Adjustments for the Model    Congratulations! You’ve identified the variance, explained the differences, and discussed the results with your client.  Your final task is to incorporate the new information so your model better reflects reality and serves your client.  Common variances that you’ll need to adjust for are those that will likely continue to impact the business for future time periods, including: - **Price variance:** Their prices or the prices of their suppliers were different than expected. Maybe a discount was offered or prices increased to reflect increased costs. - **Usage variance:** The business became more or less efficient in how they use their capital and raw materials. - **Labor variance:** Headcount estimates were off or salary and wages ended up being different than expected.  You’ll also account for** overhead variances, **which can be a catch-all other unexpected factors affecting the bottom line. Examples include repairing broken equipment, higher usage of utilities, and any penalties or fees. [Overhead variances](https://www.jirav.com/blog/5-keys-to-a-meaningful-variance-report) are generally not assumed to continue beyond the reporting period.  #### Drive Results with Tech   As an advisor, you want to focus your energy on creating value for clients. As you update your predictions and models based on conversations with your clients, there is a fair amount of adjusting required which leaves [room for error](https://www.jirav.com/blog/automate-your-budgeting-process) if relying on less sophisticated tools such as spreadsheets.  Finding the [right tech solutions](https://www.jirav.com/blog/what-to-look-for-in-financial-forecasting-software) means you can have seamless, standardized reporting which is a pleasure to create and share with clients. [Jirav](https://www.jirav.com/) was built to make your engagements with clients easier, allowing you to focus on building relationships and exceeding their goals. [Give it a try with a free demo](https://www.jirav.com/request_demo-2), our team is waiting for your call!  ##### Mike Triantos Mike Triantos is the VP of Sales and Marketing at Jirav. Mike works closely with the product, engineering, and professional services teams at Jirav to provide world-class FP&A solutions that are purpose-built for finance teams and accounting firms. Prior to Jirav, Mike served in multiple executive roles at three HR industry disruptors—Gusto, where he served as Head of Partnerships and Business Development and was instrumental in building Gusto for Partners; TriNet, where he served as Chief Client Officer and played an integral role in developing TriNet's sales, marketing, and channel strategy; and Zuman, where he was co-founder and Chief Revenue Officer. Published May 1, 2024 ###### Related topics - [Getting started with fp&a advisory](https://www.jirav.com/jirav-accounting-and-cfo-firms-blog/tag/getting-started-with-fpa-advisory) ## Related blog posts ![](https://www.jirav.com/hubfs/April2021/images/Resources-tile-pattern-giraffe@2x.png) Getting started with fp&a advisory #### How to Deliver Forward-Looking Financials with Confidence [ Read more ](https://www.jirav.com/jirav-accounting-and-cfo-firms-blog/how-to-deliver-forward-looking-financials-with-confidence) ![](https://www.jirav.com/hubfs/April2021/images/Resources-tile-pattern-giraffe@2x.png) Getting started with fp&a advisory #### How The Subscription Model Can Transform Your Firm via FP&A Advisory [ Read more ](https://www.jirav.com/jirav-accounting-and-cfo-firms-blog/how-the-subscription-model-can-transform-your-firm-via-fpa-advisory) ![](https://www.jirav.com/hubfs/April2021/images/Resources-tile-pattern-giraffe@2x.png) Getting started with fp&a advisory #### Active Financial Forecasting: Bring Data to Life with Timeliness and Relevance [ Read more ](https://www.jirav.com/jirav-accounting-and-cfo-firms-blog/active-financial-forecasting-bring-data-to-life-with-timeliness-and-relevance) ![](https://www.jirav.com/hubfs/08_fieldnote_platform-carries-production-load.png) Getting started with fp&a advisory #### How to Productize Your Advisory Services: From Custom to Scalable [ Read more ](https://www.jirav.com/jirav-accounting-and-cfo-firms-blog/how-to-productize-your-advisory-services-from-custom-to-scalable) ![](https://www.jirav.com/hubfs/April2021/images/Resources-tile-pattern-giraffe@2x.png) Getting started with fp&a advisory #### How Firms Can Build Confidence in Advisory Discussions [ Read more ](https://www.jirav.com/jirav-accounting-and-cfo-firms-blog/how-firms-can-build-confidence-in-advisory-discussions) ![](https://www.jirav.com/hubfs/01_jirav-journal_5-ways-scale-advisory_light.png) Getting started with fp&a advisory #### 5 Ways to Scale Advisory Services Without Hiring More Staff [ Read more ](https://www.jirav.com/jirav-accounting-and-cfo-firms-blog/5-ways-to-scale-advisory-services-without-hiring-more-staff) ![](https://www.jirav.com/hubfs/AI-Generated%20Media/Images/The%20image%20portrays%20a%20bustling%20shipping%20port%20where%20cargo%20containers%20in%20various%20colors%20are%20stacked%20on%20top%20of%20each%20other%20against%20a%20blue%20sky.jpeg) Getting started with fp&a advisory #### Navigating Economic Uncertainty: How Advisory Firms Can Guide Clients Through Tariff Turmoil [ Read more ](https://www.jirav.com/jirav-accounting-and-cfo-firms-blog/how-to-advise-clients-through-tariff-changes) ![](https://www.jirav.com/hubfs/Jirav%20vs%20Reach%20Reporting.png) Getting started with fp&a advisory #### Jirav vs Reach Reporting: Full-Cycle FP&A vs Presentation Dashboards [ Read more ](https://www.jirav.com/jirav-accounting-and-cfo-firms-blog/jirav-vs-reach-reporting-full-cycle-fpa-vs-presentation-dashboards) ![](https://www.jirav.com/hubfs/April2021/images/Resources-tile-pattern-giraffe@2x.png) Getting started with fp&a advisory #### Consistency: The Most Important Piece of Advisory [ Read more ](https://www.jirav.com/jirav-accounting-and-cfo-firms-blog/consistency-the-most-important-piece-of-advisory) [Load more](##) ## Let’s get started! 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