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Comparing Rolling 3-Way Monthly Financial Models with Power BI
  • Comparing Rolling 3-Way Monthly Financial Models with Power BI
  • Comparing Rolling 3-Way Monthly Financial Models with Power BI
  • Comparing Rolling 3-Way Monthly Financial Models with Power BI
  • Comparing Rolling 3-Way Monthly Financial Models with Power BI
  • Comparing Rolling 3-Way Monthly Financial Models with Power BI
  • Comparing Rolling 3-Way Monthly Financial Models with Power BI
  • Comparing Rolling 3-Way Monthly Financial Models with Power BI
  • Comparing Rolling 3-Way Monthly Financial Models with Power BI
  • Comparing Rolling 3-Way Monthly Financial Models with Power BI
  • Comparing Rolling 3-Way Monthly Financial Models with Power BI
  • Comparing Rolling 3-Way Monthly Financial Models with Power BI
Originally published: 14/10/2024 08:34
Publication number: ELQ-71199-1
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Comparing Rolling 3-Way Monthly Financial Models with Power BI

Discover an innovative approach to financial modeling by comparing 3-way monthly financial model to the latest version. Get pin point accuracy of all deltas.

Lance Rubinby Lance Rubin
CEO & Founder of Model Citizn, Chief Excel Officer of EXL Cloud, Chief Data Modeller of Potenza and professional financial modeler and trainer for FMIFollow 292
108 views|Start the discussion!|Bookmark Add to cart - $299.00
financial modellingpower bi modelling comparisonpower biway modellingpower queryrolling 3-way modelvariance analysisdata visualizationexcel models
Description
  1. Overview:
    • Rolling 3-way monthly financial models are essential for dynamic financial planning and analysis. They integrate the income statement, balance sheet, and cash flow statement, providing a comprehensive view of a company’s financial health.
    • Comparing these models month-over-month helps identify trends, variances, and potential issues early, enabling proactive decision-making.
  2. Methodology:
    • Data Import: Import the financial data from your Excel models into Power BI. Ensure that the data is clean and properly formatted for analysis.
    • Model Alignment: Align the data from both models to ensure consistency. This involves mapping the data fields correctly and ensuring that the periods match.
    • Variance Analysis: Use Power BI’s powerful analytical tools to compare the models. Create visualizations highlighting key variances in revenue, expenses, cash flow, and profitability.
  3. Key Areas of Comparison:
    • Revenue: Analyze changes in revenue streams, identifying any significant increases or decreases.
    • Expenses: Compare operating expenses to spot any unusual spikes or drops.
    • Cash Flow: Examine cash flow variances to ensure liquidity and operational efficiency.
    • Profitability: Assess changes in profitability to understand the impact on the bottom line.
  4. Benefits:
    • Accuracy: Power BI provides precise variance analysis, reducing the risk of errors.
    • Efficiency: Automating the comparison process saves time and resources.
    • Insight: Visualizations make interpreting data and identifying trends easier, enhancing decision-making.
  5. Example:
  • This example will demonstrate the step-by-step ETL process in Power Query for comparing rolling 3-way monthly financial models using Power BI.
  • Conclusion: 
      • By leveraging Power BI to compare rolling 3-way monthly financial models, you can gain deeper insights into your financial data, identify trends, and make informed decisions. Explore this technique and enhance your financial planning and analysis capabilities.

    This Best Practice includes
    1. Power BI models (Prior, Current Best and Delta) 2. Excel models (Prior and Current Best). 3. PDF outputs.

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    Further information

    Provide a clear and structured methodology for comparing rolling 3-way monthly financial models.
    Enhance the accuracy and efficiency of financial model comparisons.
    Enable users to identify key variances and trends quickly, improving financial decision-making.

    Organizations that use rolling 3-way monthly financial models for financial planning and analysis.
    Financial analysts and accountants are looking to improve their model comparisons' accuracy and efficiency.
    Teams that utilize Power BI for data analysis and visualization.

    Companies that do not use rolling 3-way monthly financial models.
    Users who do not have access to Power BI or are unfamiliar with its functionalities.
    Situations where financial data is not available in a clean and structured format suitable for analysis.


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