Analytics and the Financial Statements

Rely on your analytics software to gain insight into your company’s financial health through financial statements – past, present and future  As I am writing this, today is the end of another fiscal quarter for many companies, and for one of our manufacturing clients it is year-end.  In addition to typical year-end activities and making […]

All About Synchronized Financial Statements – Part 2

Your actual accounting financial statements are automatically synchronized; shouldn’t your FP&A forecasted financial statements behave the same way? In part 1 of this series we saw that whether a company’s accounting processes are manual (please don’t even think of it if you are looking to set up an accounting system for a new business!) or […]

Automating Variance Reports for Insights

Budget variance reports are a common element in the finance team’s analysis of how the company is doing. Simply put, your variance reports simply show you the difference between what you thought would happen and what did happen.  These reports are far more than an illustration of where the company zigged instead of zagged. They […]

What You Must Know About Financial Statements

Your actual accounting financial statements are automatically synchronized; shouldn’t your FP&A forecasted financial statements behave the same way? As late as the early eighties computerized accounting was only viable, due to large expense and complexity, in large organizations.  I remember my first controller job at a small manufacturing company where everything was done manually, from […]

Why You Should Forecast your Financial Dashboards – Part 2

Financial dashboards are powerful, more so if they forecast the future In the first installment of this article we examined the importance of representing financial data graphically and monitoring the visual representation over time using financial dashboards.  In this installment we will continue our discussion using a practical and very common example and a challenge […]

The Importance of Capital Expenditures Reporting for Board Reviews

In preparation for the first quarterly board meeting of the year, CFOs and their teams must be prepared to inform the board on the current financial state of the business and ensure that they have the needed data to make accurate and timely decisions. The office of finance provides clear financial reports – from cash […]

Mastering Financial Dashboards: The Key to Collaboration

Budget managers and CFOs are becoming increasingly involved in the strategy and planning side of the business. While this is a change from the past, no doubt it’s a step in the right direction. CFOs and budget managers have always had plenty of insights and data to offer the rest of the management team, yet have often been […]

Which Financial Reports Should I Automate – and Why?

There are many good reasons to automate tasks within the finance team. The role of finance is evolving, and the highly valuable members of the office of finance have better things to do than manually enter data, or cut and paste information from one spreadsheet to another. Plus, that manual work results in a lot […]

Should You Use Power BI for Your Financial Statements?

Let’s be honest, Microsoft Power BI wasn’t created with the intent to be used to create financial statements. However, a simple glance at discussion boards will show you there’s a lot of interest in building cash flow, income statements, balance sheets, and more in the business intelligence tool.  So how do you go about using […]

Getting the Reins on Data

Decision making is always tricky. In modern business, when we talk about decisions, we talk about data. We need information to make good decisions and decisions should be data-driven,  so big data is important for understanding industry trends. But is there such a thing as too much of a good thing? When it comes to […]