How can Financial Statements Drive Faster and Better Decisions?

As Corporate Controllers increasingly become key advisors and innovators in the Monthly Reporting Process, they must rely on modern self-service corporate performance management (CPM) and business intelligence (BI) tools. Using interactive Financial Statements like the Consolidating Profit & loss Report template shown below enables them and users from the parent company management teams to monitor near real time profit & loss (P&L) detail and profitability metrics that help drive faster and better decisions.

Who uses Consolidating Profit & Loss Reports and What are Some Key Analytical Features?

In today’s fast-paced business environment, Corporate Controllers are under high pressure to supply end users like executives and finance managers with timely and concise Financial Statements. Companies use key features like the ones below to support their users with effective analysis that helps drive corporate headquarter decisions:

  • Dynamic listing across columns of the selected subsidiaries
  • Expandable rows by GL account category and account
  • Variance analysis in amount and percent, and with indicators

The Consolidating Profit & Loss Report template can be used as a key element of the Monthly Reporting process:

Example of a Consolidating Profit & Loss Report to Streamline the Monthly Reporting Process

Example of a Consolidating Profit & Loss Report to Streamline the Monthly Reporting Process

The Consolidating Profit & Loss Report is a ready-to-use Financial Statement from the Solver Marketplace.

A Brief Description of the Consolidating Profit & loss Report Template

Financial Statements like the one seen in the image above are interactive and parameter driven and typically contain sections with professionally formatted P&L layout with automated narrative. One of the important features that aid the user in the analysis process is the ability to easily view subsidiaries side-by-side with consolidated totals. Consolidating Profit & Loss Reports are often used in conjunction with consolidating balance sheet reports, profit & loss and KPI dashboards, and revenue and expense budget models.

Data Integration to Transaction Systems

Most organizations these days want automated and streamlined planning, reporting and analysis. However, many of the benefits described earlier rely on best of breed Corporate Performance Management (CPM) tools and/or Business Intelligence (BI) capabilities as well as data marts or data warehouses that use pre-built integrations to the organization’s ERP system. Oftentimes, they also need integrations to other key data sources like CRM, subscription systems, payroll tools, etc.

Modern, cloud-based ERPs like Microsoft Dynamics 365 Finance (D365 Finance), Microsoft Dynamics 365 Business Central (D365 BC), Sage Intacct, Acumatica, Netsuite and SAP have robust APIs which allow for dynamic integrations to CPM and BI tools that are fully automated and flexible to run on a schedule or on-demand.

Additional Resources to Aid with Research of Templates, CPM and BI Tools