The FDPack Methodology

Our unique service is centred around keeping things as simple as possible and doing the basics well, using our proprietary FDPack software which has evolved over more than 15 years’ experience of working with the finances of a wide variety of businesses.

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How we bring your financial statements to life

Experience has taught us that the financials of any small or medium sized business can be understood and managed with just the three traditional financial statements, providing that they are well structured, clearly presented and kept up to date.

They combine to provide the visibility a business needs for effective decision making:

profit-loss

Profit & Loss

Sales, expenses, margins & profit / loss.

cashflow

Cashflow

Bank balance movement analysed by trading and non-trading cash inflows and outflows.

balance-sheet

Balance Sheet

What the business owns and what it owes; assets and liabilities, short and long term.

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Here are your future numbers. If they are not what you want, then you need to act now.

Spencer Smith, FDPack

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The FDPack 10 step process

Our core deliverables are accurate and up to date monthly financial statements for actual, budget, forecast and strategic plan, in both summary and detailed format, with unlimited options for timeline or comparative analysis and drill downs to see transaction level detail.

We have a trusted and well-defined 10 step process, so that our clients know exactly what to expect before we start.

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  1. An initial meeting with all stakeholders in the project to:
  • Confirm and formalise the expectations of owners and/or managers for the project.
  • Introduce FDPack and outline our process. 
  • Discuss the strengths and weaknesses of the management accounting function and how well it currently contributes to the understanding, decision making and strategy of the business.
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  1. Analyse the existing Management Information (MI) architecture of the business:
  • Decide how the 3 statements will work within the existing MI of the business. What information is already available, what does the business need to know and what will FDPack provide?
  • Decide whether the statements should be broken down and analysed using tracking categories to segment the data by, for example, activity type, geography and/or teams.
  • Rationalise and, wherever possible, simplify the chart of accounts (account codes) which are grouped into categories to be used in each of the three statements that best summarise the activities of the business.
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  1. Review accounting processes and systems and ensure that accurate monthly accounts are being efficiently prepared using compliant accounting principles.
  2. Create a connection with the accounting system of the business to regularly populate the FDPack database with all the historical accounting transactions.
  3. Build an integrated 3-Way transactional forecasting model for the business that generates forecast and budget transactions in the same format as the historical data already in FDPack. The model can be used to create monthly forecasts, budgets and multi-year strategic planning.
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  1. Analyse the updated statements using the comparative and timeline views defined within FDPack and summarise the significant variances and changes that require management’s attention. 
  2. Provide an objective summary of the financials, the issues they raise and connect them to the wider strategy of the business.
  3. Present to board, senior management or stakeholder meetings as required and make the statements available each month to all authorised users inside and outside the business using the FDPack interface.
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  1. Maintain rolling monthly updates by switching the current month forecast for the actual, reviewing the forecast assumptions and making any structural changes as the business develops.
  2. Liaise with external accountants and auditors to harmonise accounting standards, coordinate specialist advice and minimise year-end adjustments and audit fees.
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“The FDPack modelling technique is like renovating a classic car. At one point the parts are all over the garage floor but, by the time you have cleaned them up and put them back together again, you have an intimate knowledge of how the car works. Like any classic car it also needs continual attention to keep it running smoothly”

Simon Phippen, FDPack Consultant.

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Blogs

Useful content for you designed to simplify and demystify a range of financial subjects

Dark blue financial infographic explaining how statutory profit is adjusted to EBITDA. The headline reads, “From reported profit to underlying performance. The bridge is in the adjustments.” Three panels show statutory profit on the left, adjustments in the center, and EBITDA on the right. Adjustments include adding back depreciation and amortisation, interest, and tax, plus adjusting one-off items and timing differences. The EBITDA panel describes underlying operating performance, focusing on operating results, excluding non-operating items, improving analysis and valuation, and moving closer to sustainable earnings. Footer highlights clarity, confidence, consistency, and value.

Statutory Profit vs EBITDA: Why the Numbers Don’t Tell the Same Story

Statutory profit and EBITDA are not competing metrics. They answer different questions. The gap between them is where interpretation becomes important. If that gap is not understood, decisions are made on numbers that do not reflect how the business actually operates. Key Takeaways Why Statutory Profit Doesn’t Always Reflect Performance Statutory profit is designed for…

Dark blue presentation slide titled “One forecast. Too much certainty.” It explains that the future is uncertain and scenario planning helps prepare for different outcomes. On the left, a “Single Forecast” chart shows one upward performance path, warning that a single path does not show what could change. On the right, a “Scenario Planning” chart shows three possible outcomes over time: best case rising strongly, most likely rising moderately, and worst case declining. A bottom row highlights four benefits: plan for change, test assumptions, prepare for pressure, and stay in control.

Scenario Planning for SMEs: What You Should Actually Be Modelling

Scenario planning is not about predicting a single variable. It is about understanding how your business responds to change. For most SMEs, the relevant drivers are not isolated factors like interest rates. They are the practical variables that affect revenue, costs, and cash in day-to-day operations. The objective is not precision. It is understanding how…

Infographic explaining a connected 3-way financial model that links profit and loss, cash flow, and balance sheet insights. It shows how modelling profit, cash, and position together improves visibility, clarifies timing, supports better decisions, and helps build a stronger business for future growth.

The Future of SME Finance: Why Financial Software Alone Is No Longer Enough

Software has improved financial reporting significantly. But many growing SMEs still struggle with: The issue is rarely a lack of software. It is that software alone cannot create financial clarity without the right structure, interpretation, and expertise behind it. The future of SME finance is not human expertise versus technology. It is expert-led financial systems…

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