In this video Belinda Allen shares 25 tips for financial reporting and modelling with Power BI including how to work with the Chart of Accounts, creating measures for chart/page titles and calculating financial KPIs such as AP/AR Turnover, Inventory Turnover and Current Ratio
Power Platform Finance (PPF) Conference 2022
Session 1 (9.30-10am): Fostering a Learning Culture in Finance [Ian Pike Microsoft UK]
In this session Ian Pike (https://www.linkedin.com/in/ipike/) - a Cloud Solutions Architect at Microsoft UK - reveals the secret sauce of how Microsoft have managed to achieve phenomenal growth whilst maintaining a near static headcount in their finance function! Whilst they of course use their own tools (including Power BI!) to achieve this efficiency, it's not all about the technology! Rather, a large part is about individuals cultivating a growth mindset, developing user-created learning content and building a community focused on innovation and personal growth!
Session 2 (10.30-11am): Building What-if Models in Excel and Power BI [Mark Wilcock, Microsoft MVP]
In this session Microsoft MVP and London Business Analytics Group (LBAG) Community Leader Mark Wilcock (https://www.linkedin.com/in/zomalex/) covers how to :
Use the new functions and features of Modern Excel - including LAMDA, LET, XLOOKUP functions, Data Table and dynamic array formulas - to build financial models!
Build financial statement models which - with the right inputs and variables - can predict the probability of making a loss, ranges of profit and what your profit margins might be in the coming years!
Build proper scenario models and use techniques such as Monte Carlo Analysis (including in DAX!) - you can even model how to win at Roulette with it!
This is a unique type of session in the Excel/Power BI domain and is one not to be missed!
Session 3 (11-11.45am): P&L Fundamentals in Power BI [Chris Barber, Microsoft MVP]
In this session, Chris Barber (https://www.linkedin.com/in/christoph...) shows that:
1. An Income Statement (P&L) report can be built using the matrix visual in Power BI but there are a number of unique considerations/features such as subtotals, percentages/currency number formats in the same column, fixed hierarchies and specific sort orders
2. Whilst it may be possible to build this all using DAX (which can get very complex) or custom visuals (which give you lots of formatting options), a metadata driven approach with inputs/variables as "helper" tables is the most flexible
3. The main input table contains all the rows you want on the P&L report with a clear sort order and hierarchy which links into the sub-ledger/chart of accounts and transaction table through a chain of 1: Many relationships
