Python Series

Part 5: Month-End Close Transformation This post continues my “learning in public” journey as a finance manager. All concepts and frameworks are attributed to their original creators, primarily David Parmenter and other thought leaders in the field. The Month-End Burden The month-end close process is often one of the most stressful and resource-intensive activities for finance teams. As David Parmenter states in “The Financial Controller and CFO’s Toolkit,” many organisations are trapped in a “month-end reporting death spiral” where teams spend weeks preparing reports that arrive too late to influence decision-making. ...

Virtual Environments & Packaging in Python As your Python journey progresses and you start building more sophisticated financial tools, you’ll inevitably need to use external libraries. This is where virtual environments and package management become crucial skills. In this post, I’ll cover how to create isolated environments for your projects and manage dependencies effectively. Why Virtual Environments Matter Imagine this scenario: You’re working on two different financial applications. One requires pandas version 1.3 for compatibility with other tools, while the other needs the latest pandas 2.0 for new features. Without virtual environments, you’d be forced to choose one version for your entire system, potentially breaking one of your applications. ...

SQL for Finance Professionals: A Practical Guide As a finance manager, learning SQL can be one of the most valuable skills that you can add to your professional toolkit. This post is the start of my journey as I get to grips with the language. This guide will focus on SQL from a finance perspective, focusing on practical applications that will make your finance job easier. Most finance roles don’t require detailed knowledge of SQL (at the level of a software engineer). Understanding basic commands, and what your code is doing, can be useful; both when it comes to code issues and process improvements you’re implementing. ...

Part 4: Beyond Traditional Budgeting This post is part of my “learning in public” journey as I transition into my role as a finance manager. All concepts and frameworks are attributed to their original creators, primarily David Parmenter and other thought leaders in the field. The Problem with Traditional Annual Budgets Most organisations still cling to the annual budgeting process despite mounting evidence of its ineffectiveness. As David Parmenter points out in his book “The Financial Controller and CFO’s Toolkit,” traditional budgets often become outdated shortly after completion due to rapidly changing business conditions. ...

Functions, Modules & File I/O in Python These next concepts incredibly useful for organising code and working with external data. Let’s explore how Python handles functions, modules, and file operations - all essential skills for financial analysis and reporting. Defining and Calling Functions Functions are reusable blocks of code that perform specific tasks. They help keep your code DRY (Don’t Repeat Yourself) and make it more maintainable. Basic Function Syntax def function_name(parameters): """Docstring explaining what the function does.""" # Function body return result # Optional Here’s a simple function that calculates compound interest: ...