It can be a powerful tool for running and controlling your business, or it can be a complete waste of time. No matter how thoughtfully you estimate the inputs, how thoroughly you check and format the budget, or how carefully you link the cells in Excel, your budget will just end up collecting dust if your managers don't use it. This is the fifth in a series of six articles describing how you can create a detailed, Excel-based Master Budget that you and your managers will really use. A well-designed set of Pro Forma Financial Statements summarizes the information throughout your budget for managers, bankers, directors, and others making financial decisions regarding your business. The first Pro Forma Financial Statement is the Income Statement. The second Pro Forma Financial Statement is...
In Part 5 of the Excel Budgeting article, Jason Porter and Teresa Stephenson discussed how to process the budget data to create pro forma statements, including the Income Statement, Balance Sheet, and Statement of Cash Flows. In this article, the author will look closely at the statements and analyze what data is needed in them. In order to create these statements, you need to store data effectively to create and lay out reports to display that data. One option might be to create reports from the data input tables directly. For the Income Statement, you need a table with three fields: 1. a Description column to hold the labels for each line of the statement, such as Sales, Cost of Goods Sold, Interest Expense, etc.; 2. an Amount column to hold the summarized data from the input; and 3. ...
Throughout much of the commercial real estate boom in Oklahoma City and Tulsa from 2004 to 2008, it was very common to see properties sell based upon pro forma incomes rather than actual financials. This was most common among apartment transactions and the practice was largely responsible for overinflating apartment values during that period. Now, thanks primarily to the credit crunch, pro forma deals in the state appear to be disappearing as more commercial brokers are back to pricing properties on actual net operating incomes. For those not initiated into the commercial real estate club, commercial properties offered on a pro forma basis are priced on a possible future net operating income that may be achievable if certain things like increases in rents are done. Because pro forma dea...
Many Americans were shocked yesterday when President Obama finally released his long-form birth certificate from the state of Hawaii. The real surprise, however, is that for the past three years, our democratic institutions did not address the matter. The media refused to tackle this issue with the same investigative drive with which they investigated Watergate, President Clinton's alleged indiscretions and the George W. Bush administration's missteps in Iraq; the courts declined to hear a single case on the issue; and Congress failed to hold any hearings on the matter. Perhaps the saddest part of this story is its ending.
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