Falling Short – Excel and Financial Reporting Problems

When it comes to financial reporting, Excel is the go-to for many companies, from small start-ups to larger corporations. In fact, the Financial Executives Research Foundation reported that 69% of companies surveyed continue to use Excel as their main tool for budgeting and planning, despite all of the issues with using spreadsheets for this purpose. […]

A Reasonable Approach to Headcount Forecasting

Don’t Overcomplicate the Process I recently read an article on the topic of headcount forecasting and people looking for advice on implementing a super-powerful Excel model to allow their finance and human resources departments to forecast the need for employees. HR needs this information to plan recruiting efforts and to time when to advertise open […]

Variance Analysis for Budgeting and Forecasting

Variance analysis is extremely important, and can definitely be more accurate and efficient. Plans often go awry which is fine if it’s your dinner plans.  However, when your actual results don’t sync with your financial plan, you have a problem. Every general ledger account balance of your monthly actual results is likely to be different […]