Josh Aharonoff, CPA on LinkedIn: 8 Ways to calculate Budget vs Actuals This is a really important report…… | 81 comments (2024)

The #monthly #budget VS #actuals comparison is crucial for corporations as it facilitates #performance evaluation, enables #variance #analysis, supports #financial_control, guides goal setting, and #strategic_planning, and aids in performance measurement and #accountability. It assists in maintaining #financial_stability, improving #decision_making processes, and ensuring the company's overall #financial health and success.

Always great to have a bit more data visualisation in the feed. Having a variety of tools to tell the story means you can tailor to suit audiences learning style and for the message(s) that needs to be communicated.

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8 Ways to calculate Budget vs ActualsThis is a really important report…in fact, it’s my favoriteWhy?Because it gives insight into just how much of an understanding that you have on the business.No..you don’t need to have 0 variancesBut you do need to have a story on each line item, and why there was a hit / missLet’s dive into each way that you can showcase Budget vs Actuals:1. TABLEThis is one of the simplest and most common ways to showcase Budget vs ActualsThe idea here is:→ include both a $$ variance as well as a % variance to understand materiality→ show good variances as positive, bad variances as negative→ use conditional formatting for good / bad variances2. KPIThe KPI box is one of my favorite ways to display data in a pretty mannerYou can include whatever you’d like here, as long as you don’t crowd the box with too much data3. DONUTThis may be my favorite of them allThis is usually the way companys showcase battery life (take a look at your apple watch)I find it a great way to shade in the positive or negative % of your variances, in a manner similar to the KPI box4. SPEEDOMETERThis is just like the Donut…but here you have a dial5. BAR WITH CUT OFF LINEHere you have a bar chart showcasing the actual numbers you did…with a cut off line chart for where you had hoped you would be6. CLUSTERED BAR CHARTHere you have both your budget and your actuals column…and you can showcase positive or negative variances by stacking a new bar chart to showcase the difference7. WATERFALLWaterfall charts are neat in that they allow you to see the cumulative impact of valuesHere, you can showcase the cumulative impact of your net income…or your cash flows8. THERMOMETERHere, we have similar elements to the Bar with Cut off line chart…only we can see the positive / negative variance more easily with color codingThose are my 8 ways to showcase budget vs actualsRemember…how you display the information is just one part.Having a story with each KPI is where you really get to shine!What has your experience been with budget vs actuals?And which is your favorite?Let us know in the comments below 👇

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8 Ways to calculate Budget vs ActualsThis is a really important report…in fact, it’s our favoriteWhy?Because it gives insight into just how much of an understanding that you have on the business.No..you don’t need to have 0 variancesBut you do need to have a story on each line item, and why there was a hit/missLet’s dive into each way that you can showcase Budget vs Actuals:1. TABLEThis is one of the simplest and most common ways to showcase Budget vs ActualsThe idea here is:→ include both a $$ variance as well as a % variance to understand materiality→ show good variances as positive, bad variances as negative→ use conditional formatting for good/bad variances2. KPIThe KPI box is one of my favorite ways to display data in a pretty mannerYou can include whatever you’d like here, as long as you don’t crowd the box with too much data3. DONUTThis may be our favorite of them allThis is usually the way companies showcase battery life (take a look at your apple watch)We find it a great way to shade in the positive or negative % of your variances, in a manner similar to the KPI box4. SPEEDOMETERThis is just like the Donut…but here you have a dial5. BAR WITH CUT OFF LINEHere you have a bar chart showcasing the actual numbers you did…with a cut off line chart for where you had hoped you would be6. CLUSTERED BAR CHARTHere you have both your budget and your actuals column…and you can showcase positive or negative variances by stacking a new bar chart to showcase the difference7. WATERFALLWaterfall charts are neat in that they allow you to see the cumulative impact of valuesHere, you can showcase the cumulative impact of your net income…or your cash flows8. THERMOMETERHere, we have similar elements to the Bar with Cut off line chart…only we can see the positive / negative variance more easily with color codingThose are my 8 ways to showcase budget vs actualsRemember…how you display the information is just one part.Having a story with each KPI is where you really get to shine!What has your experience been with budget vs actuals?And which is your favorite?Let us know in the comments below

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8 Ways to calculate Budget vs ActualsThis is a really important report…in fact, it’s our favoriteWhy?Because it gives insight into just how much of an understanding that you have on the business.No..you don’t need to have 0 variancesBut you do need to have a story on each line item, and why there was a hit/missLet’s dive into each way that you can showcase Budget vs Actuals:1. TABLEThis is one of the simplest and most common ways to showcase Budget vs ActualsThe idea here is:→ include both a $$ variance as well as a % variance to understand materiality→ show good variances as positive, bad variances as negative→ use conditional formatting for good/bad variances2. KPIThe KPI box is one of my favorite ways to display data in a pretty mannerYou can include whatever you’d like here, as long as you don’t crowd the box with too much data3. DONUTThis may be our favorite of them allThis is usually the way companies showcase battery life (take a look at your apple watch)We find it a great way to shade in the positive or negative % of your variances, in a manner similar to the KPI box4. SPEEDOMETERThis is just like the Donut…but here you have a dial5. BAR WITH CUT OFF LINEHere you have a bar chart showcasing the actual numbers you did…with a cut off line chart for where you had hoped you would be6. CLUSTERED BAR CHARTHere you have both your budget and your actuals column…and you can showcase positive or negative variances by stacking a new bar chart to showcase the difference7. WATERFALLWaterfall charts are neat in that they allow you to see the cumulative impact of valuesHere, you can showcase the cumulative impact of your net income…or your cash flows8. THERMOMETERHere, we have similar elements to the Bar with Cut off line chart…only we can see the positive / negative variance more easily with color codingThose are my 8 ways to showcase budget vs actualsRemember…how you display the information is just one part.Having a story with each KPI is where you really get to shine!What has your experience been with budget vs actuals?And which is your favorite?Let us know in the comments belowPS: We help companies with their budget and create reports. We can easily help you here:https://bit.ly/3tQTEKO

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8 Ways to calculate Budget vs ActualsThis is a really important report…in fact, it’s our favoriteWhy?Because it gives insight into just how much of an understanding that you have on the business.No..you don’t need to have 0 variancesBut you do need to have a story on each line item, and why there was a hit/missLet’s dive into each way that you can showcase Budget vs Actuals:1. TABLEThis is one of the simplest and most common ways to showcase Budget vs ActualsThe idea here is:→ include both a $$ variance as well as a % variance to understand materiality→ show good variances as positive, bad variances as negative→ use conditional formatting for good/bad variances2. KPIThe KPI box is one of my favorite ways to display data in a pretty mannerYou can include whatever you’d like here, as long as you don’t crowd the box with too much data3. DONUTThis may be our favorite of them allThis is usually the way companies showcase battery life (take a look at your apple watch)We find it a great way to shade in the positive or negative % of your variances, in a manner similar to the KPI box4. SPEEDOMETERThis is just like the Donut…but here you have a dial5. BAR WITH CUT OFF LINEHere you have a bar chart showcasing the actual numbers you did…with a cut off line chart for where you had hoped you would be6. CLUSTERED BAR CHARTHere you have both your budget and your actuals column…and you can showcase positive or negative variances by stacking a new bar chart to showcase the difference7. WATERFALLWaterfall charts are neat in that they allow you to see the cumulative impact of valuesHere, you can showcase the cumulative impact of your net income…or your cash flows8. THERMOMETERHere, we have similar elements to the Bar with Cut off line chart…only we can see the positive / negative variance more easily with color codingThose are my 8 ways to showcase budget vs actualsRemember…how you display the information is just one part.Having a story with each KPI is where you really get to shine!What has your experience been with budget vs actuals?And which is your favorite?Let us know in the comments below

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8 Ways to calculate Budget vs Actuals from Josh Aharonoff, CPA This is a really important report…Because it gives insight into just how much of an understanding that you have on the business.No...you don’t need to have 0 variancesBut you do need to have a story on each line item, and why there was a hit / missLet’s dive into each way that you can showcase Budget vs Actuals:1. TABLEThis is one of the simplest and most common ways to showcase Budget vs ActualsThe idea here is:→ include both a $$ variance as well as a % variance to understand materiality→ show good variances as positive, bad variances as negative→ use conditional formatting for good / bad variances2. KPIThe KPI box is one of my favorite ways to display data in a pretty mannerYou can include whatever you’d like here, as long as you don’t crowd the box with too much data3. DONUTThis may be my favorite of them allThis is usually the way companies showcase battery life (take a look at your apple watch)I find it a great way to shade in the positive or negative % of your variances, in a manner similar to the KPI box4. SPEEDOMETERThis is just like the Donut…but here you have a dial5. BAR WITH CUT OFF LINEHere you have a bar chart showcasing the actual numbers you did…with a cut off line chart for where you had hoped you would be6. CLUSTERED BAR CHARTHere you have both your budget and your actuals column…and you can showcase positive or negative variances by stacking a new bar chart to showcase the difference7. WATERFALLWaterfall charts are neat in that they allow you to see the cumulative impact of valuesHere, you can showcase the cumulative impact of your net income…or your cash flows8. THERMOMETERHere, we have similar elements to the Bar with Cut off line chart…only we can see the positive / negative variance more easily with color codingThose are my 8 ways to showcase budget vs actualsRemember…how you display the information is just one part.Having a story with each KPI is where you really get to shine!What has your experience been with budget vs actuals?And which is your favorite?Follow Josh Aharonoff for more fantastic content like this

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Best ways to calculate and visualize BVA. Powerful Insights.

What a great ways to check your budget vs actuals..I am sure all the C level leaders will be interested in zooming in.

8 Ways to calculate Budget vs Actuals This is a really important report…in fact, it’s our favoriteWhy?Because it gives insight into just how much of an understanding that you have on the business.No..you don’t need to have 0 variancesBut you do need to have a story on each line item, and why there was a hit / missLet’s dive into each way that you can showcase Budget vs Actuals:1️⃣ TABLEThis is one of the simplest and most common ways to showcase Budget vs ActualsThe idea here is:→ include both a $$ variance as well as a % variance to understand materiality→ show good variances as positive, bad variances as negative→ use conditional formatting for good / bad variances2️⃣ KPIThe KPI box is one of my favorite ways to display data in a pretty mannerYou can include whatever you’d like here, as long as you don’t crowd the box with too much data3️⃣ DONUTThis may be our favorite of them allThis is usually the way companies showcase battery life (take a look at your apple watch)We find it a great way to shade in the positive or negative % of your variances, in a manner similar to the KPI box4️⃣ SPEEDOMETERThis is just like the Donut…but here you have a dial5️⃣ BAR WITH CUT OFF LINEHere you have a bar chart showcasing the actual numbers you did…with a cut off line chart for where you had hoped you would be6️⃣ CLUSTERED BAR CHARTHere you have both your budget and your actuals column…and you can showcase positive or negative variances by stacking a new bar chart to showcase the difference7️⃣ WATERFALLWaterfall charts are neat in that they allow you to see the cumulative impact of valuesHere, you can showcase the cumulative impact of your net income…or your cash flows8️⃣ THERMOMETERHere, we have similar elements to the Bar with Cut off line chart…only we can see the positive / negative variance more easily with color codingThose are my 8 ways to showcase budget vs actualsRemember…how you display the information is just one part.Having a story with each KPI is where you really get to shine!What has your experience been with budget vs actuals?And which is your favorite?Let us know in the comments belowPS: We help companies with their budget and create reports. We can easily help you here: https://bit.ly/3tQTEKO

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