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Financial statements dashboard

Article author
Jonathon Plowman-Samson
  • Updated

Learn about what you can do on the financial statements tab.

Note: The financial statements tab is only available in general ledger analyses.

Navigate to the financial statements tab

  1. Select the MindBridge icon in the sidebar to go to the Organizations page.
  2. Select View in line with the desired organization, or click anywhere in the organization row to go to the Engagements page.
  3. Select View in line with the desired engagement, or click anywhere in the engagement row to go to the Data page.
  4. Select View Analysis on the desired analysis, or use the sidebar to open the Analyze menu, then select the name of the analysis you want to see.
    You will go to the Analyze page.
  5. Select the Financial statements tab*.
    *Not applicable if this tab is your landing page.


Add materiality

Adding materiality to an analysis allows MindBridge to profile various financial statement accounts as quantitatively material or not, so you can filter on accounts that are material to your engagement team.

Learn more about adding and leveraging materiality


Scope accounts

Scoping accounts allows you to focus the analytical procedures and evidence you have collected on the accounts that you consider to be significant.

Learn more about scoping accounts.


The financial statements table

The financial statements table allows you to switch between the horizontal view (period over period variance) and the vertical view (percentage contribution) on both the income statement and balance sheet, so you can access 4 unique views.

Horizontal balance sheet

Illustrates how the ending balances of the financial statement level balance sheet accounts have trended over time.

Vertical balance sheet

Illustrates how the percentage of the financial statement level balance sheet accounts, relative to Total Assets (or Total Liabilities & Equity), have trended over time.

Horizontal income statement

Illustrates how the operational results at the financial statement level have trended over time.

Vertical income statement

Illustrates how the operational results at the financial statement level, relative to Total Revenue, have trended over time.

The financial statements table displays the following columns, depending on the view selected.

Column header Meaning View selected
Account Financial statement accounts — “Level 3” accounts in the chart of account hierarchy. Any view.
MindBridge score

The overall risk score of the account.

Any view.

Scoping decision

Whether an account is considered significant, insignificant, or unscoped. Any view.
Current period $

The ending balance as-at period end, based on the analysis period for the current period.

Any view.

%

The percentage share of the activity relative to total revenue for the period.

Vertical statement of balance sheet.

Vertical statement of income statement.

Prior period 1*

The ending balance as-at period end, based on the analysis period for the intended period.

Any view.

Var $ / Var %*

The dollar ($) and percentage (%) variance between the current period and intended period.

Horizontal statement of balance sheet.

Horizontal statement of income statement.

*Depending on the amount of prior period data in your analysis, you may see up to 4 prior periods of data. If you have not imported prior period data for this analysis, these columns will not appear.

Change the view

  1. Select the Horizontal (or Vertical) field to open the menu.
  2. Select the view you would like to display, Horizontal or Vertical.
    The table updates based on your selection.
  3. Select the Balance Sheet field to open the menu.
  4. Select Balance Sheet or Income Statement.
    The table updates based on your selection.

Filter on the income statement views

  1. Select filters from the Type and/or User ID menus.
  2. When you are satisfied, Apply each filter to quickly sift through ledger data and compare accounts for more insights.

Reset Filter any time to remove applied filters.

Collapse and expand account groups

All account groups are expanded by default.

  1. Select the chevron icon left of an account name to collapse the account group.
    All levels below your selection are hidden from view.
  2. Select the chevron icon again to expand the group.

Show adjustments

Use the Adjustments toggle to show and hide the financial statements with the adjusted values.

Note: This toggle is only displayed after you import adjustments, reclassifications, or eliminations into your analysis.

The following column headers appear on the table:

Column headers Meaning
Unadjusted The original current period balance, before adjustments were added.

Adjusting Entries

The total dollar value of adjustments made.

Reclassifying Entries

Changing account classifications, usually for presentation.

Eliminating Entries

When combining multiple companies, duplicate entries are eliminated.

Adjustments Total

The total dollar value of adjustments, reclassifications, and eliminations made.

Add annotations

  1. Select the annotation icon in line with the graph or account you want to annotate on.
  2. Select Add annotation.
    The annotation name is based on the graph or account.
    Conditions and/or filters are logged automatically.
  3. Enter your annotation in the Annotate field.
  4. When you are satisfied, Save the annotation.
    A red dot appears over the annotation icon to indicate that annotations have been added.
Note: Annotations will show regardless of the selected views or filters applied.

Learn more about working with annotations.

Export the table

  1. Open the Actions menu.
  2. Select Download Excel report.
    The .xlsx export captures your current view and any filters applied.

Create/View a planning analytics report

  1. Open the Actions menu.
  2. Select View planning analytics report.

Learn more about the planning analytics report.

Drill down to other pages

  1. Select the drill-down icon in line with the intended account to open the menu.
  2. Select the page you want to go to:
    • View trends: This brings you to the Trends tab, and populates the trend graph with data from the account you selected.
    • View entries: This brings you to the Data table tab, and sets the View to Entries and filters on the account you selected.
    • View audit assertion risk: This brings you to the Audit assertion risk tab, and highlights the account you selected in the account risk by assertion table.
    • View significant account report: This brings you to the Reports tab, and creates or opens the report that you can Edit or Export.

Learn more about the significant account report.


Monetary flows by account

This graph displays how activity during the current period in a particular financial statement account breaks down across all other accounts included in the transactions which impact it.

Quickly understand key drivers behind an assertion risk score to focus her procedures on specific transaction types or areas of failure.

  1. In the financial statements table, click anywhere in the row on any Level 3 account.
    The account row turns blue when it is selected.
    The monetary flows by account graphs updates to provide visual data on the account you selected.
  2. Hover over a bar to see the debit and credit value flowing in and out of the account.
  3. Select a bar to drill-down to the data table. This automatically sets the View to Transactions and filters on the account you selected.

Financial_statements_dashboard_-_Monetary_flows_by_acount.gif


Anything else on your mind?
Chat with us here, or reach out to your assigned Customer Success Manager.


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