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Budget Analysis

The data model incorporates views such as Budget Summary outlining departmental budget allocations, Monthly Spending Trend for expense patterns analysis, Expense Breakdown detailing expenses by category/vendor, Budget vs Actuals for financial performance assessment, and Top Spend Categories for managing high-impact spending areas. Measures like Budget Amount, Actual Amount, Variance Amount, Debit Amount, and Credit Amount provide insights into planned vs recorded expenses/revenues, financial deviations, and cash flow movements in the organization.

Benefits of This Data Model​

  • Enhanced Financial Performance Assessment: The data model enables thorough evaluation by comparing budgeted amounts to actual spending, facilitating better financial decision-making.
  • Focused Cost Management: Through the analysis of top spend categories, organizations can identify high-impact spending areas and implement targeted cost-cutting strategies.
  • Detailed Expense Analysis: The Expense Breakdown view provides a comprehensive breakdown of expenses by category/vendor, aiding in a granular analysis of spending patterns.
  • Monthly Expense Trend Identification: The Monthly Spending Trend view assists in identifying budget variances and patterns by showing the trend of monthly expenses, supporting proactive budget adjustments.
  • Holistic Budget Allocations Overview: The Budget Summary view offers a holistic overview of total budget allocation across departments and categories, enhancing transparency and alignment with organizational goals.

Key Performance Indicators (KPIs)​

  • Budget Amount: The planned amount of expenses or revenues for a specific period, typically based on forecasts and budgeting processes.
  • Actual Amount: The actual recorded expenses or revenues for a specific period, providing concrete data on the financial performance.
  • Variance Amount: The numerical difference between the budgeted amount and the actual amount, indicating whether the organization over or underperformed in financial terms.
  • Debit Amount: The recorded amount of money spent or owed, typically associated with expenses or assets that increase.
  • Credit Amount: The recorded amount of money received or credited, usually associated with income or liabilities that decrease.

Available Visualisations​

View NameDescription
Budget vs ActualsCompares budgeted amounts to actual spending to assess financial performance and deviations.