The first month of the year is almost done. But are you confident with your company’s cash flows for the remaining months of the year? We are just not talking about budgeting, but the revenue goals and financial projections that management should have already prepared several months before.
Many entrepreneurs already have their favorite tools in business management. But still, some of these are designed to answer for a particular or set of requirements leaving other important aspects such as cash management unattended.
Budgets for the following year are created using historical data with additional insight from the management based on current market trends. Often times, data used are chosen based on most recent facts or if not available, any data that may somehow be related. This is the customary process in company’s budgets and projections. But as time goes by, updates are dramatically changing the market and as corporate executives, we should adapt these trends into our Business effectively. Historical data must be readily available in times of sudden lean in the market.
XBRLAnalyst answers this crucial business need with its exceptional functions such as Finstatement for simpler retrieval of historical data and FinEstimate to quickly construct professional projections for your company.
FinStatement creates periodical extended financial statements (BS, IS, CF), while incorporating all changes on each report. By using its simple syntax {CID, Statement, Period}, retrieving year-end and quarterly reports filed by the company can now be easily generated in excel.
Additionally, calculation for the last twelve months data can be automatically computed by using “LTM” as period code. Here is a simple excel template of a report generated using Facebook data:
Furthermore, FinEstimate is always available as additional projection tool, particularly for Sales and Earnings estimates. By just changing the period codes into future periods, calculations from top data providers are given right away to you. So, get it now! These are great time saver tools for your updated budgets and high quality estimates, equipped with professional presentation structures.
