Posts

Higher Education Report Example - Comparison Between Current Year and Next Year Budgets

What is a Budget Comparison Report?

Budget comparison reports are considered budget analysis tools and are used by budget managers to provide executives with a clear picture of variances between the current and next year’s budget. Some of the main functionality in this type of budget report is that it it shows the differences between two annual budgets and displays these both as amounts and in percent. The general ledger (GL) accounts are listed down the rows with funds as the most detailed level. The report can be produced at the detailed department level or consolidated to a school or university level. You find an example of this type of budget report below.

Purpose of Budget Comparison Reports

Universities and colleges use Budget Comparison Reports to make it easy for executives to see where the major changes are in the current budget versus that of the prior year. When used as part of good business practices in a Financial Planning & Analysis (FP&A) department, a higher education institution can improve its budget accuracy, and it can reduce the chances that the major budget changes are approved without proper scrutiny.

Budget Comparison Report Example

Here is an example of a Budget Variance Report comparing the new budget with prior year’s budget.

Higher Education Report Example - Comparison Between Current Year and Next Year Budgets

Higher Education Report Example – Comparison Between Current Year and Next Year Budgets

You can find hundreds of additional examples here

Who Uses This Type of Budget report?

The typical users of this type of budget report are: Executives, budget officers, department managers.

Other Budget reports Often Used in Conjunction with Budget Comparison Reports

Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Budget Variance Reports, along with  budget accuracy reports, budget comment reports, budget dashboards, transaction detail budget reports and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from management systems or enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

Higher Education Reporting - Monthly Trends in Revenues and Expenses Example

What is a Monthly Trends in Revenues and Expenses Report?

Revenue and Expense trend reports, sometimes referred to as Statement of Activity trend reports, are considered monthly financial statements and are used by finance teams and executives to easily get a broad view of financial seasonality and other trends. Some of the main functionality in this type of report is that it automatically displays actual (or budget) for all months of the year. Another popular version of this report shows rolling twelve or eighteen months in the columns. The rows are laid out like a typical sources and uses of funds financial statement. The charts on top of the report help the user visualize the key metrics. You find an example of this type of report below.

Purpose of Revenue and Expense Trend Reports

Universities and colleges use Revenue and Expense Trend Reports to easily detect month to month or quarter to quarter trends and anomalies in the organization’s financial results. When used as part of good business practices in a Financial Planning & Analysis (FP&A) department, a higher education institution can improve its speed and agility to make important business decisions, and it can reduce the chances that the avoidable outcomes are left untouched for longer than necessary.

Revenue and Expense Trend Report Example

Here is an example of a Revenue & Expense Trend Report that can be produced for actual or budgeted financials.

Higher Education Reporting - Monthly Trends in Revenues and Expenses Example

Higher Education Reporting – Monthly Trends in Revenues and Expenses Example

You can find hundreds of additional examples here

Who Uses This Type of Report?

The typical users of this type of report are: CFOs, budget managers, and analysts.

Other Reports Often Used in Conjunction with Revenue and Expense Trend Reports

Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Revenue and Expense Trend Reports, along with  monthly variance reports, balance sheets, cash flow statements, financial dashboards and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from management systems or enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

Higher Education Reporting - Revenue and Expenses with Remaining Budget

What is a Revenue and Expenses with Remaining Budget Report?

Revenue and Expense reports, sometimes referred to as Statement of Activities are considered monthly financial statements and are used by finance officers and accountants to provide managers with year-to-date (YTD) results and to show them how much is still available of the annual budget. Some of the main functionality in this type of report is that it it shows actual results YTD for revenues and expenses along with the full year budget. It then automatically calculates how much of the revenue and expense budget remains. For each new period the report is run for, it dynamically recalculates the remaining budget. You find an example of this type of report below.

Purpose of Revenue and Expense Reports with Remaining Budget Calculation

Universities and colleges use Revenue and Expense Reports with Remaining Budget Calculation to give department heads and finance managers an easy way to course correct during the year. When used as part of good business practices in a Financial Planning & Analysis (FP&A) department, a higher education institution can improve its likelihood of meeting annual budgetary obligations, and it can reduce the chances that their managers tries to adjust spending too late in the year to align with budgets.

Revenue and Expense Reports with Remaining Budget Calculation Example

Here is an example of a Revenue & Expense Report with actual results YTD, full year budget and remaining budget information.

Higher Education Reporting - Revenue and Expenses with Remaining Budget

Higher Education Reporting – Revenue and Expenses with Remaining Budget

You can find hundreds of additional examples here

Who Uses This Type of Report?

The typical users of this type of report are: CFOs, budget managers, analysts, department heads.

Other Reports Often Used in Conjunction with Revenue and Expense Reports with Remaining Budget Calculation

Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Revenue and Expense Reports, along with  formal financial statements, detailed expense and funding/revenue reports and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from management systems or enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

Example of a Profit & Loss Consolidation Report for a Distribution Company

What is a Profit & Loss Consolidation Report for a Distribution Company?

Profit & loss (P&L) consolidation reports are considered important month-end analysis tools for multi-entity distribution companies and are used by the office of finance to provide executives with a side-by-side and consolidated view of their business units. Some of the main functionality in this type of report is that it dynamically lists subsidiaries across the columns with an aggregate total in the far right column. The user can run the report for any month and scenario (actual, budget or forecast). The rows show account level revenues, expenses and profit figures along with sub-totals. You find an example of this type of report below.

Purpose of Profit & Loss Consolidating Reports

Distribution businesses use Profit & Loss Consolidating Reports to help executives benchmark the financial results of their business units as well as analyze consolidated figures. When used as part of good business practices in Financial Planning & Analysis (FP&A) departments, a company can improve its corporate-level decisions and agility, and it can reduce the chances that individual subsidiary performance issues go unnoticed in corporate meetings or during self-service analysis.

Profit & Loss Consolidating Report Example

Here is an example of a Consolidating Profit & Loss Report.

Example of a Profit & Loss Consolidation Report for a Distribution Company

Example of a Profit & Loss Consolidation Report for a Distribution Company

You can find hundreds of additional examples here

Who Uses This Type of Report?

The typical users of this type of report are: Boards, executive teams, CFOs and controllers.

Other Reports Often Used in Conjunction with Profit & Loss Consolidating Reports

Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Profit & Loss Consolidating Reports, along with  P&L trend reports, balance sheets and cash flow statements, financial KPI dashboards and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

Example of an Profit & Loss Variance Report for a Distribution Company

What is a Profit & Loss Variance Report for a Distribution Company?

Profit & loss (P&L) variance reports are considered essential monthly performance monitoring tools and are used by the office of finance to provide distribution executives with a concise view of prior month and year-to-date (YTD) results. Some of the main functionality in this type of report is that it gives the user a quick view of P&L KPIs followed by a detailed, comparative view of revenues, expenses and profit margins. The metrics and charts on the top of the report help highlight revenues, profit, profit margin and revenue per employee. The columns provides comparison of monthly and YTD figures for the current year versus the prior year, with the colored arrows serving as indicators of significant variances. You find an example of this type of report below.

Purpose of Profit & Loss Variance Reports

Distribution businesses use Profit & Loss Variance Reports to help executives quickly understand monthly and current year performance and to put it in perspective by comparing it to prior year figures. When used as part of good business practices in Financial Planning & Analysis (FP&A) departments, a company can improve its strategic decisions and agility, and it can reduce the chances that important variances go undetected for longer periods of time.

Profit & Loss Variance Report Example

Here is an example of a Modern Profit & Loss Report with KPI charts and variance analysis.

Example of an Profit & Loss Variance Report for a Distribution Company

Example of an Profit & Loss Variance Report for a Distribution Company

You can find hundreds of additional examples here

Who Uses This Type of Report?

The typical users of this type of report are: Boards, executive teams, CFOs and controllers.

Other Reports Often Used in Conjunction with Profit & Loss Variance Reports

Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Profit & Loss Variance Reports, along with  P&L trend reports, balance sheets and cash flow statements, financial KPI dashboards and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

Example of an Automated Forecast for New Retail Store Opening

What is a Forecast for New Retail Store Opening?

New retail store forecasts and budgets are considered essential planning tools in retail corporations and are used by financial managers and analysts to forecast revenues and expenses for a planned store opening. Some of the main functionality in this type of forecast model is that it allows the user to select data from a similar existing store that automatically will be pulled into the model. The user also selects the start (store opening) month, which will zero out prior months that year. At this point the forecast can be saved and it is done, or you can adjust any of the figures and then save.. An example of this type of forecast model can be found below.

Purpose of Automated Forecasts for New Store Openings

Retail businesses use Automated Forecast Models to provide a very quick and easy way to create a forecast for a new store location based on actual or budget data from a similar size, existing store. It also makes it easy to perform what-if analysis and simulations related to potential store openings. When used as part of good business practices in Financial Planning & Analysis (FP&A) department, a company can improve its decisions, timing and success with business expansions as well as reduce the chances that poor financial planning results in bigger, operational issues.

Automated Forecasts for New Store Opening – Example

Here is an example of an Automated Financial Forecast Model for a new store based on data from an existing store location.

Example of an Automated Forecast for New Retail Store Opening

Example of an Automated Forecast for New Retail Store Opening

You can find hundreds of additional examples here

Who Uses This Type of Forecast model?

The typical users of this type of forecast model are: Store planners, CFOs and analysts.

Other Forecast models Often Used in Conjunction with Automated Forecasts for New Store Openings

Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Automated Profit & Loss forecasts, along with general sales forecasts and budgets, sales dashboards, KPI dashboards, consolidation reports, balance sheets and cash flow statements and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from management systems or enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

Profit & Loss Variance Report Example for a Retail Company

What is a Profit & Loss Variance Report ?

Profit & Loss (P&L) reports are considered perhaps the most popular monthly financial statement format and are used by executives and financial managers to review monthly results as well as variances against budget and prior year. Some of the main functionality in this type of report is that it is a dynamic, web-based report where users pick the month and entity to run the report for. The format below shows traffic lights to highlight significant variances. The rows expand dynamically based on filters that determine which accounts to include. Users can drill down on any number to explore the underlying transaction detail to quickly answer their questions.. You find an example of this type of report below.

Purpose of Monthly P&L Variance Reports

Retailer companies use Monthly P&L Variance Reports to provide professional, self-service financial results to their managers. When used as part of good business practices in a Financial Planning & Analysis (FP&A) department, a company can improve its focus on variances and profit analysis capabilities as well as reduce the chances that managers do not properly analyze reports because of old, hard-to-read legacy formats.

Monthly P&L Variance Report Example

Here is an example of a Monthly Profit & Loss Report with budget and prior year variances.

Retail – P&L Variance Report

You can find hundreds of additional examples here

Who Uses This Type of Report?

The typical users of this type of report are: Corporate executives, controllers, store managers, regional managers.

Other Reports Often Used in Conjunction with Monthly P&L Variance Reports

Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Monthly P&L Variance Reports, along with general sales forecasts and budgets, balance sheets, cash flow statements and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data comes from management systems or enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

Example of a Profit & Loss Report with KPIs for a Healthcare Provider

What is a Profit & Loss Report with KPIs?

Profit & Loss (P&L) reports with KPIs are considered powerful monthly management analysis tools and are used by CFOs and other executives to analyze both financial and operational performance in a single view. Some of the main functionality in this type of dashboard report is that it uses parameters so the user can run it for any month and one or many facilities. The top section shows two KPIs: 1) Total admits and 2) Average patient charge. The middle section shows summary P&L rows and each row can be expanded to see the underlying general ledger (GL) accounts and amounts. The bottom of the report displays additional KPIs for Discharges and RVUs, as well as two charts for graphical analysis. You find an example of this type of dashboard report below.

Purpose of P&L Report with KPIs

Healthcare providers use P&L Report with KPIs to provide executives with an easy to read format that offers essential performance information. When used as part of good business practices in a Financial Planning & Analysis (FP&A) department, an organization can improve its decision-making capabilities as well as reduce the chances that managers miss the big picture with too many detailed reports being put in front of them every month.

P&L Report with KPI Example

Here is an example of a Monthly Profit & Loss Financial Report that includes KPIs for the current month and year-to-date.

Example of a Profit & Loss Report with KPIs for a Healthcare Provider

Example of a Profit & Loss Report with KPIs for a Healthcare Provider

You can find hundreds of additional examples here

Who Uses This Type of Dashboard report?

The typical users of this type of dashboard report are: Boards, CFOs, COOs, group controllers and analysts.

Other Reports Often Used in Conjunction with P&L Report with KPIs

Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different P&L Reports with KPIs, along with Financial dashboards, trend reports, balance sheets, cash flow statements and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data comes from management systems or enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Corporate Performance Management (CPM) Cloud Solutions and More Examples

Consolidated Profit & Loss Report for a Healthcare Provider

What is a Consolidated Profit & Loss Report ?

Consolidated profit & loss (P&L) reports are considered essential monthly reports for healthcare groups and are used by Boards, CFOs and Controllers to review monthly aggregate results. Some of the main functionality in this type of financial report is that it is parameter driven and the user can run it for divisions as well as the top consolidated level in the organization. The individual clinics/locations will dynamically expand across the columns with a consolidated total on the far right. The rows are organized in a typical P&L layout, showing revenues, expenses, margins and net profit (loss). You find an example of this type of financial report below.

Automate Your Healthcare Operations

Purpose of Consolidated Profit & Loss Reports

Healthcare providers use Consolidated Profit & Loss Reports to provide healthcare executives at the group level with a clear view of consolidated results while at the same time seeing how each clinic individually is contributing. When used as part of good business practices in a Financial Planning & Analysis (FP&A) department, an organization can improve its profitability and financial performance communication as well as reduce the chances that executives make slower or sub-optimal decisions because they don’t easily see each location’s contribution to consolidated results.

Consolidated Profit & Loss Report Example

Here is an example of a Consolidated Profit & Loss Report for a healthcare provider group and it’s clinics.

Consolidated Profit & Loss Report for a Healthcare Provider

Consolidated Profit & Loss Report for a Healthcare Provider

 

You can find hundreds of additional examples here

Who Uses This Type of Financial report?

The typical users of this type of financial report are: Boards, CFOs, group controllers.

Other Financial Reports Often Used in Conjunction with Consolidated Profit & Loss Reports

Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Consolidated Profit & Loss Reports, along with KPI and financial dashboards, variance and trend reports, balance sheets, cash flow statements and other management and control tools.

Solver for Healthcare Providers

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Automate Your Healthcare Operations

Corporate Performance Management (CPM) Cloud Solutions and More Examples

Statement of Operations Report Example for a Healthcare Provider

What is a Statement of Operations?

Statement of Operations reports with multi-year KPIs are considered powerful monthly management reports and are used by Boards, CFOs and other executives to see a current Profit & Loss overview along with a three year picture of key performance indicators (KPIs). Some of the main functionality in this type of innovative monthly report is that it uses parameters that provide on-demand choices of period and organizational units to include. Across the columns it dynamically lists each month of the year up to the current period. The far right shows the total year-to-date (YTD) figures as well as the average monthly performance. The top portion of the rows shows two metrics: Patient volume and Average patient charge. Following that you see a typical Profit & Loss layout with revenues, expenses and net income. At the bottom of the report there are KPI sections for the current year as well as the two prior years. You find an example of this type of innovative monthly report below.

Automate Your Healthcare Operations

Purpose of Statement of Operations Reports

Healthcare providers use Statement of Operations Reports to offer managers a single tool to make it easy to analyze monthly financial results along with multi-year KPI performance. When used as part of good business practices in a Financial Planning & Analysis (FP&A) department, an organization can improve its strategies and decision-making as well as reduce the chances that executives don’t easily see the big, multi-year picture while analyzing current year and monthly results.

Statement of Operations Report Example

Here is an example of a Statement of Operations with financial results for current year periods as well as three years of monthly and YTD KPIs.

Statement of Operations Report Example for a Healthcare Provider

Statement of Operations Report Example for a Healthcare Provider

You can find hundreds of additional examples here

Who Uses This Type of Monthly Report?

The typical users of this type of innovative monthly report are: Boards, CFOs, COOs, group controllers and analysts.

Other Monthly Reports Often Used in Conjunction with Statement of Operations Reports

Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different Statement of Operations Reports, along with KPI and financial dashboards, variance reports, balance sheets, cash flow statements and other management and control tools.

Solver for Healthcare Providers

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from management systems and enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Automate Your Healthcare Operations

Corporate Performance Management (CPM) Cloud Solutions and More Examples