Learn what you can accomplish with the financial statements dashboard for general ledger analyses in MindBridge:
- Add materiality
- Scope accounts
- Overview of the financial statements table
- Use the financial statements table
- Understand monetary flows by account
Go to the Financial statements tab
- Select the icon in the MindBridge sidebar.
You will go to the Organizations page.
- Select View in line with the desired organization, or click anywhere in the organization row.
You will go to the Engagements page.
- Select View in line with the desired engagement, or click anywhere in the engagement row.
You will go to the Data page.
- Select View Analysis on the desired analysis.
You will go to the Analyze page.
- Select the Financial statements tab*.
*Not applicable if this tab is your landing page.
Tip: If you are already in an analysis, simply use the sidebar ( ) to open the Analyze menu ( ), then select the name of the analysis you want to see and go to the Financial statements tab.
Adding materiality to the analysis allows MindBridge to profile various financial statement accounts as quantitatively material or not, so you can filter for accounts that are material to your engagement team.
Learn more about adding and leveraging materiality.
Scoping accounts allows you to focus the analytical procedures and evidence you have collected on the accounts that you consider to be significant.
The Scoping decision column in the financial statements table indicates whether accounts are:
- Significant: The account is material and may be worthy of further investigation.
- Insignificant: The account is immaterial and may not require further investigation.
- Unscoped: The accounts have not yet been scoped as material or not.
Learn more about scoping accounts.
Overview of 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
Displays how the ending balances of the financial statement level balance sheet accounts have trended over time.
Vertical balance sheet
Displays 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
Displays how the operational results at the financial statement level have trended over time.
Vertical income statement
Displays 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.
|Financial statement accounts — all accounts in the chart of account hierarchy.
The scores shown in this column are averages of all entries in that area of the hierarchy.
|Whether an account is considered materially significant, insignificant, or it it is unscoped.
|Current period $
The ending balance as-at period end, based on the analysis period for the current period.
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.
|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.
Use the financial statements table
Change the view
- Select the Horizontal (or Vertical) field to open the menu.
- Select the view you would like to display: Horizontal or Vertical.
The table updates based on your selection.
- Select the Balance Sheet field to open the menu.
- Select Balance Sheet or Income Statement.
The table updates based on your selection.
Filter on the income statement views
- Select filters from the Type and/or User ID menus.
- 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
Use the chevron icon left of the account name to expand ( ) or collapse ( ) the account group.
Use the Adjustments toggle to show and hide the financial statements with the adjusted values.
The following column headers appear on the table:
|The original current period balance, before adjustments were added.
|The total dollar value of adjustments made.
|Changing account classifications, usually for presentation.
|When combining multiple companies, duplicate entries are eliminated.
|The total dollar value of adjustments, reclassifications, and eliminations made.
- Select the annotation icon ( ) in line with the graph or account you want to annotate on.
- Select Add annotation.
The annotation name is based on the graph or account.
Conditions and/or filters are logged automatically.
- Enter your annotation in the Annotate field.
- When you are satisfied, Save the annotation.
A red dot appears over the annotation icon to indicate that annotations have been added.
Learn more about working with annotations.
Export the table
- Open the Actions menu.
- Select Download Excel report.
The .xlsx export captures your current view and any filters applied.
Create/View a planning analytics report
- Open the Actions menu.
- Select View planning analytics report.
Learn more about the planning analytics report.
Drill down to other pages
- Select the drill-down icon ( ) in line with the intended account to open the menu.
- 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
When you select an account, MindBridge identifies all transactions that the selected account occurs within (in the current period), and displays the aggregate value of the other accounts that occur within those transactions.
- In the financial statements table, select any account row.
The graph below the table updates to reflect the net of debits and credits for your selection.
- Hover over a bar to see individual debit or credit values.
- Select a bar to drill-down to the data table and dig into the impacted transactions.
This automatically sets the View to Transactions and filters on the account you selected.
A monetary flow represents the movement of money from one account to another. In many cases, a transaction may be comprised of multiple flows. You can use the Monetary flows by account graph to see how current period activity in a particular financial statement account breaks down across all other accounts included in the transactions which impact it.