Financial Analysis

CaseWare IDEA Applications

General Ledger

• Speed closing with quick account reconciliations and adjustment transactions
• Easily calculate financial ratios and changes for sales/assets, debt/equity, etc.
• Calculate and sort percentage variances in accounts between periods
• Analyze year-to-date activity for large operating accounts (rent, taxes, etc.)
• Compute weighted averages and interest rates
• Create custom balance sheets, P & L statements, cash flow analyses, etc.
• Prepare trial balances by tax group and calculate tax provisions
• Compare summaries by major accounts.

Sales Analysis

• Generate sales and profitability reports by sales representative, product, etc.
• Recap product sales by region, customer, category, etc.
• Analyze sales trends by comparing current and previous periods
• Summarize shipments by warehouse for product distribution analyses
• Identify top dollar volumes by products, customers, sales reps, etc.
• Analyze demand/trends by comparing current product sales with booked sales
• Compare current sales to open receivables

Accounts Receivable

• Report and automatically age total receivables
• Determine carrying cost by comparing days in collection by customer
• Identify credit limit exceptions
• Profile customers’ purchasing cycles to improve profitability
• Generate summaries by customer, invoice, amounts, etc.
• Identify duplicate invoices, credits or receipts
• Summarize client days to payment by customer, sales rep, region, etc.
• Identify credits taken beyond discount terms
• Look for lost revenue from unpaid carrying charges by client, etc.
• Identify accounts without recent activity for follow up by sales reps
• Determine average sales amounts by product, sales rep, region, etc.

Inventory

• Analyze usage and ordering to improve turnover
• Segregate variances from standard pricing in dollar amount order
• Identify obsolete inventory by sorted turnover analysis
• Report on products in order of profitability
• Assess financial viability of LIFO versus FIFO management
• Create custom reports on stock and high value balances
• Summarize and stratify turnover by stock item
• Compare yearly volume with on-hand quantity for stock items
• Analyze high value transactions
• Summarize stock on-hand by group, location, type, etc.
• Look for differences between standard costs and actual costs
• Compare cost to retail price to look for pricing discrepancies
• Find products with zero quantities or zero prices
• Review product reordering volumes by item, warehouse, and vendor

Asset Management

• Compare book and tax depreciation and indicate variances
• Identity fully depreciated items and assets higher than replacement cost
• Recap asset values, in dollar value order, by net or cost amount
• Recalculate expense and reserve amounts using replacement costs
• Compare useful lives of assets by category
• Extract assets with useful lives or depreciation rates beyond set norms

Accounts Payable

• Compare voucher or invoices posted against purchase order amounts
• Total posted invoices for the year for accurate vendor rebates
• Identify vendor unit price variances by product
• Find invoices without purchase orders
• Look for distributions to suppliers not in suppliers’ master file
• Compare recurring monthly expenses to paid invoices
• Identify invoices posted with duplicate purchase order numbers
• Calculate cash requirements by bank, period, product, vendor, etc.
• Look for lost discounts not taken
• Compare vendor payables posted to purchase orders
• Identify reversals or offset entries

Payroll

• Create custom payroll reports
• Isolate entries against authorization records for new or terminated employees
• Analyze costs for special pay, overtime, premiums, etc.
• Compare time card rates to payroll and to look for variances
• Look for changes in key payroll data, such as gross pay, hourly rates, salary amounts, exemptions, etc.
• Compare employee tax identification numbers, phone numbers, and addresses to vendor information for payables to identify potential conflicts of interest