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Financial Modeling and Reporting with Microsoft Power BI

Financial Modeling and Reporting with Microsoft Power BI

By : Andy Clark, Tom Gough, Shailan Chudasama
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Financial Modeling and Reporting with Microsoft Power BI

Financial Modeling and Reporting with Microsoft Power BI

By: Andy Clark, Tom Gough, Shailan Chudasama

Overview of this book

Financial Modeling and Reporting with Microsoft Power BI is the definitive guide to designing high-performance, flexible, and insightful financial reports using Power BI. This Power BI book empowers finance and BI professionals to create everything from trial balances to enterprise-wide performance dashboards with ease and precision. The book starts by helping you define your reporting goals and data sources, mapping these needs to Power BI’s capabilities. You’ll then build a core financial data model—covering ledger transactions, charts of accounts, and multi-company support. As you proceed, you’ll integrate complex DAX measures, handle foreign exchange and journal entries, and extend your model with budgeting and inventory data. Each chapter builds toward a comprehensive suite of reports, complete with visual best practices and tested metrics. You’ll learn to streamline datasets using Power Query, test for data integrity, and generate printable reports via Power BI Paginated. The final chapters dive into using AI, predictive analytics, and Microsoft Fabric to future-proof your reporting. Whether you're consolidating data across systems or evolving your reports for changing business needs, this hands-on guide ensures you’re prepared to meet the demands of modern finance.
Table of Contents (16 chapters)
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15
Index

Considerations for foreign exchange

Ideally, if there is a need for handling foreign exchange this should be handled in the accounting systems and not in an ad hoc way in the reporting system. If a legal entity transacts in many currencies, it would be common practice for the accounting system to hold transaction amounts in at least the transaction currency and the accounting currency for that legal entity. Furthermore, if an accounting system supports multiple legal entities using different accounting currencies, it would be common practice (although not universal) to store a third reporting currency. In all of these cases, the best course of action is almost always to use the values stored in the accounting system. This means that there is no possibility of discrepancy between the reports and the accounting system. And after all, the accounting system is the system of record and is supposed to be definitive.But what about other situations where this is not possible? Consider...

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