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March 2007 - Posts

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  Using ROI analysis to prioritize technology purchases Before your organization makes a costly investment in hardware or software, use return-on-investment (ROI) analysis to guide your decision process. ROI analysis, when used as part of a well-rounded business case, can help you evaluate the strategic and... Read More... Published: Wednesday, March 07, 2007, 02:57 PM Tags: ROI analysis, capital budgeting, software purchases, technology purchases

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  Using PivotTable reports to evaluate business data You've collected reams of financial data from your business onto Microsoft Office Excel 2003 worksheets. Now you need to draw meaningful conclusions about your company's current status and future health from those numbers. PivotTable reports, a feature... Read More... Published: Wednesday, March 07, 2007, 02:54 PM Tags: PivotTable reports, evaluate business data, Excel, data analysis

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  Performing financial analysis An accountant's job rarely stops with the preparation of a company's financial statements and tax return. These documents are required, but they often don't provide enough information to reach a reasonable conclusion about a company's health. Additional... Read More... Published: Wednesday, March 07, 2007, 02:51 PM Tags: profitability analysis, financial analysis, analyze profit, financial statements, accountant, ratio analysis, tax return, cost of goods sold

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  Performing capital budgeting analysis Capital budgeting is a tool that financial analysts can use to support business decision-making by using thorough, contextual information about potential capital investments. Capital budgeting can be complex, so it can be easy to get lost in the details... Read More... Published: Wednesday, March 07, 2007, 02:47 PM Tags: budget analysis, capital budgeting, Excel, financial analyst, budgeting templates, capital budgeting techniques

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  Forecasting Accurate forecasting is vital to day-to-day business operations, as well as to long-term planning. Inaccurate forecasting can quickly lead to trouble. And it's important to use the right forecasting technique depending on the forecast's intended purpose... Read More... Published: Wednesday, March 07, 2007, 02:43 PM Tags: forecasting, Excel, forecast inventory levels, what-if scenarios, cash flows, pro forma forecast, moving average analysis, long-term sales forecast

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  Conducting financial forecasting Proper financial forecasting relies on methods and tools that bring rigor to the forecasting process. Oversimplifying the forecasting process can create forecasts that ignore business cycles and lead to missed investor expectations, excess inventory buildup... Read More... Published: Wednesday, March 07, 2007, 02:35 PM Tags: Management, financial forecasting, forecasting pitfalls, budgeting process, triangulated forecasting, waterfall forecasting

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  Communicating Budget Data to Management Do your monthly budget reviews get bogged down with extraneous details? Do senior managers find it difficult to evaluate the financial health of your organization from month to month? Transform your budget reviews into effective strategy sessions. Use... Read More... Published: Monday, March 05, 2007, 06:05 PM Tags: Analysis and reporting, Budget Reviews, Budget Data, Senior Managers, financial Health, Management, Financial Performance

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  Analyzing Profitability Whether you are starting a new business, adding a new product, or just seeking to improve your company's bottom line, it's important to perform basic profitability analysis on a regular basis. First, estimate your expenses and calculate your breakeven... Read More... Published: Monday, March 05, 2007, 05:47 PM Tags: profit analysis, Profit, Analysis and reporting, profitability analysis, Expense estimates

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  Preparing for an IRS Audit A field audit by the Internal Revenue Service (IRS) can be a controller's nightmare. But don't let an audit unnerve you. Your field audit will run smoothly if you assemble a competent audit team, approach the audit with the same level of preparedness... Read More... Published: Monday, March 05, 2007, 05:42 PM Tags: Compliance, Controller, auditor, IRS Audit, Field Audit

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  Planning the Audit Process Recent corporate accounting and financial scandals have led to sweeping regulatory changes — and dramatically increased audit requirements. Whether you are an outside auditor or part of the internal audit team, your audit process is under intense scrutiny... Read More... Published: Monday, March 05, 2007, 05:33 PM Tags: Compliance, audit, audit requirements, staying accountable, audit process