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The 21st Minute


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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

Areas of Applications , CaseWare IDEA



Posted By

By Team Audimation


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