2 Excel Templates

1) Budget Controlling Template

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The model can be adjusted very easily to any company. Keep you posted for the rest of the templates.

2) Segmented Profit and Loss​​​​​​

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Here are 2 Infographics for Today:

1) 3 Statements Forecast Notes

​Get this infographic on a high-resolution PDF​​​​​​​​​​​​​​​​​

2) 21 Investment Indicators

​Get this infographic on a high-resolution PDF​​​​​

Here’s today’s “How to” guide:​​​​

How to build an effective C-level dashboard

Building a C-level financial dashboard involves a systematic approach to ensure that the data is accurate, relevant, and visually appealing.

Here’s a step-by-step guide to help you through the process:

Step 1: Fix the Chart of Accounts (CoA)

👉 Review the Current CoA Analyze the current Chart of Accounts to identify any outdated or inconsistent categories that may hinder clarity or reporting accuracy.

👉 Standardize Account Naming Ensure that all account names are uniform, descriptive, and accurately represent the transactions, making it easier for users to understand and manage financial data.

👉 Categorize Accounts Group accounts into logical categories such as segments or cost centers. This improves organization, enhances visibility, and facilitates more meaningful financial reporting.

Step 2: Export Data

👉 Identify Data Sources Determine the sources of financial data, like ERP systems or accounting software, to ensure comprehensive data extraction from all relevant platforms.

👉 Export Financial Data Extract key financial datasets, including general ledger details, trial balances, and other relevant records, to lay the foundation for accurate reporting.

👉 Collect Additional Data Gather supplementary data, such as budget projections, historical performance, and key performance indicators (KPIs), for a more complete financial picture.

Step 3: Data Cleaning

👉 Correct Errors Identify and resolve data inaccuracies to prevent flawed analyses and ensure the reliability of subsequent financial reports.

👉 Standardize Formats Make sure all data is in consistent formats for smoother analysis and integration with reporting tools.

👉 Fill Missing Values Address any gaps in data by filling in missing values, which improves accuracy and prevents disruptions in analysis.

👉 Create a Clean Data Set Consolidate a final, refined dataset that is free of errors and inconsistencies, serving as the foundation for analysis and reporting.

Step 4: Build Financial Reports

👉 Define Key Metrics Identify critical financial metrics that align with organizational goals and stakeholder expectations, such as revenue growth, profit margins, and cash flow.

👉 Create Financial Statements Develop core financial statements—income statement, balance sheet, and cash flow statement—offering a holistic view of financial performance.

👉 Calculate Key Ratios Compute financial ratios (e.g., liquidity, profitability, and efficiency ratios) to provide deeper insights into the financial health and operational efficiency.

👉 Prepare Executive Summary Compile an executive summary that distills key financial insights and trends, aiding decision-makers in quickly understanding the organization’s financial position.

Step 5: Pivot Tables for Analysis

👉 Create Pivot Tables Use Excel or business intelligence (BI) tools to build pivot tables, which simplify data analysis by organizing financial data dynamically for various insights.

👉 Organize Data by Relevant Categories Arrange data by dimensions such as time period, department, business unit, or account type, making it easier to analyze trends and patterns.

👉 Filter and Slice Data Implement filters and slicers in pivot tables, enabling executives to explore specific segments of data, like comparing departmental expenses or time-based revenue trends.

Step 6: Finalize the Dashboard

👉 Design the Layout Create an intuitive dashboard layout that highlights key metrics and financial indicators, ensuring clarity and ease of navigation.

👉 Create Slicers and Define Periods to Watch Add slicers for interactive filtering and define important time periods for tracking, allowing stakeholders to focus on specific data points or trends.

👉 Import Data from Pivot Tables and Reports Pull data from the prepared pivot tables and financial reports to populate the dashboard with relevant information for real-time insights.

👉 Visualize Data Incorporate graphs, charts, and other visual elements to make data interpretation easier and more engaging for users.

👉 Keep it Easy and Flexible Ensure the dashboard remains user-friendly and adaptable, allowing for quick adjustments based on evolving needs or additional data inputs.

By following these steps, you can build a comprehensive financial dashboard that effectively communicates key financial information to C-level executives, enabling them to make informed decisions.

That is it for today! Uniti next time,

Keep learning,

Bojan

P.S. If your company needs support in finance, my team of 20 top-tier consultants is ready. This is what we do:

  1. Building powerful management reports, forecasts, budgets, models
  2. Business valuations, support in M&A transactions, due diligence and more
  3. Developing transfer pricing policies and local or master files

P.P.S. If you want to grow your career in finance you can take one of my courses and tutorials. I want everyone to have access to my courses, so I offer discounts for countries with lower purchasing power. ​Click HERE​ to get the price for your country.

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