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About the Financial Function Checkup

Winning the Financial Game · Practical checkup

How strong is your finance function?

Thirty questions across six areas. Reflect on your current practices and choose the next useful improvement.

Answer for what happens today.

Choose Yes only when a practice happens reliably. Use Don't know for something to verify. Choose Not applicable only when you can explain why the practice does not fit your business.

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Terms used in the checklist

LMA® means Leadership, Management, and Accountability. Right Person in the Right Seat combines shared values with whether someone gets the role, wants it, and has capacity to do it. The People Analyzer® tool is an EOS tool for evaluating fit. AP means accounts payable; AR means accounts receivable; P&L means profit and loss statement.

Ben created this Clarity2Freedom checkup to help leadership teams evaluate their finance function. Explore the official EOS tools for your existing implementation.

0 of 30 answered

Area 1 of 6

Leadership & Accountability

1. Is the structure of the Finance Function the ideal structure for the next 6-12 months?
2. Is one person clearly accountable for the Finance function and consistently executing LMA® well?
3. Is everyone in the Finance function a Right Person in the Right Seat?
4. Do you use The People Analyzer® tool regularly to ensure continued alignment?
5. Are financial responsibilities clearly defined between Visionary, Integrator, and Finance leader?

Area 2 of 6

Financial Systems & Processes

1. Are accounting systems and core financial processes documented, simplified, and followed by all?
2. Are monthly financials (P&L, Balance Sheet, Cash Flow) delivered accurately within 10 business days?
3. Are AP, AR, payroll, and expense workflows timely, reliable, and well-controlled?
4. Are internal controls in place to reduce errors, prevent fraud, and ensure financial integrity?
5. Do your accounting reports align with key financial goals and scorecards so they can be understood easily?
6. Do you hold monthly review meetings to discuss financial and operational performance and forecasts?
7. Is there budget agreed to by all key leaders and is actual performance to budget reviewed monthly?

Area 3 of 6

Great Game / Open-Book Management & Financial Literacy

1. Does the leadership team understand the company’s financial model and key financial targets (profit, cash, etc.)?
2. Are key financial numbers shared transparently so everyone understands how the business wins?
3. Do all leaders and employees understand how their actions impact revenue, gross profit, expenses, and cash?

Area 4 of 6

Scorecard & Measurables

1. Does the Finance leader provide proactive insights that support better decision-making?
2. Are key measurables owned and reviewed weekly by the leadership team?
3. Are there department level scorecards and does every employee have at least one measurable that they own?
4. Are financial leading indicators tracked weekly on the Scorecard and acted on quickly when off track?
5. Do all leaders understand how their departmental numbers impact the company performance?
6. Are scorecards managed well to ensure they are accurate, useful, and focus the company on winning the game?
7. Is there an analytics tool where leaders can quickly see key numbers relevant to their functions of the business?

Area 5 of 6

Forecasting & Cash Flow

1. Is there a reliable forward-looking forecast for revenue, expenses, and profit reviewed monthly?
2. Is a 13-week cash flow forecast maintained and used to guide decisions?
3. Does leadership understand how to determine if operational changes impact cash flow and future results?
4. Are strategic investments and major expenses approved and reviewed against forecasted cash?

Area 6 of 6

Risk Management

1. Are financial risks (cash reserves, debt, customer concentration, insurance coverage) reviewed regularly?
2. Are operational risks (process failures, vendor issues, or system weaknesses) identified and monitored?
3. Are strategic risks (market changes, pricing pressures, competitive threats) considered in planning?
4. Are mitigation plans in place for the highest-impact financial, operational, and strategic risks?

Original checklist by Ben Johnson, Certified EOS Implementer®. A Clarity2Freedom reflection tool, not an official EOS assessment, audit, or financial advice.

LMA® and The People Analyzer® are registered trademarks of EOS Worldwide, LLC. Learn more about the official EOS® tools.

My goal: 100 teams graduated by 2035, equipped to keep running on EOS on their own.