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Neelam
Neelam

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Visualizing Financial Statements in Tableau

Visualizing financial statements can be difficult. While it's not a daunting job, when I talk with my clients' financial departments their financial data is likely to be among the most sensitive data that the company has, and for this reason, their presentation is extremely carefully planned. Because of the well-defined ways that companies are required to share this data, breaking the established guidelines isn't an easy task. Therefore, while other teams that aren't financial might be able to experiment and improve their top-down reporting structures, However, financial teams are often neglected.

Visual Analytics for Financial Reporting

As the methods of aggregating information continue to advance, so do the data reports. But, even though the adoption of the use of visualization has exploded in recent years of the new methods of visualizing data don't align with the established principles of the financial statement, i.e. balance sheets or income statements, reports of cash flow, and so on.

Instead of ignoring finance departments, I've discovered that finding a middle way in the way we take a look at visual analytics in groups that are less flexible in terms of how they display their data can result in significant impact. Through the use of customized images, layout containers, and paddings, it is possible to design an easy visualization using Tableau that allows financial-minded individuals to connect with visually-minded people and incorporate accounting statements to the current analytics field in a manner that appeals to traditionalists in reporting and the new generation of the innovators. If you are not very keen to learn Tableau by your self then consider taking Tableau Course.

Step 1: Design Worksheets

Separate the financial statement into pieces and create separate worksheets for each one. For instance Current Assets could comprise five line items, and five line items may constitute one worksheet. Depending on the size of the financials are you could have a numerous worksheets to track It's essential to assign each worksheet the proper name.

Step 2: Add Layout Graphics

When you've completed your worksheets, make your own dashboard. After that, you should include a layout image on the dashboard. The dashboard will then be floated as a visual record. In my case the layout graphic is a blank notebook with shadowy, rounded edges is employed. After the graphic is correctly placed on the dashboard, ensure you set the floating ordering to send to back within the settings of the image: financial balance sheet in Tableau

Step 3: Setup the Container

In the vertical layout container arrange all your worksheets that are chunked in the right order. It may be beneficial to include text boxes in the layout container in order to determine the most important sections (i.e. Assets/Liabilities/Stockholder's Equity). Then, put the entire layout container over the layout in the dashboard.

Step 4: Visual Enhancements

Utilizing multiple versions of a customized lines and overlay horizontal lines on the financial statement to create the illusion of sectioned-off data. Also, you can include indentation on your reports, which is a feature often sought-after when it comes to financial reports. To achieve this, you can make use of the padding feature inside Tableau to create left-side indentation on the appropriate worksheets. In addition, make use of bolding to emphasize the importance of certain line items.

Step 5: Include Visuals to the Most Important Metrics

Finally, if you are able you can include visuals to show your most crucial metrics. Here, I've added two line charts to monitor the total assets in addition to Net Income in time to determine whether, how and to how much they've changed. The addition of these images along with an older-style financial statement, will assist in breaking down boundaries between traditional and visual analytics. financial reporting. As time passes, you may begin to realize that these additional images are not just tolerated, but they are coveted and sought after.

I've provided a selection of important visual elements of this article to download and use in your own financial report. I hope this is helpful and makes the visual analysis of financial reporting more accessible and interesting.

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