Budget

The data model captures allocated budget amounts for specific periods or categories, with a focus on reporting through different currencies. Views include detailed breakdowns of expenses and revenues in the Budget Worksheet, key metrics and variances in the Budget Summary, budget versus actual comparisons in Budget vs. Actual, departmental budget allocation in Department Budget, historical trends in Budget Trends, and analysis of variances in Budget Variance Analysis for enhanced financial planning and decision-making.

Benefits of This Data Model

• Enhanced Financial Planning: Utilize historical trends in Budget Trends and analysis of variances in Budget Variance Analysis to make informed decisions and enhance financial planning strategies.
• Optimized Resource Allocation: Utilize Department Budget to analyze budget allocations by department, allowing for optimized resource allocation and improved budget management.
• Performance Analysis: Compare planned budget figures with actual expenses and revenues in Budget vs. Actual to conduct thorough performance analysis and identify areas for improvement.
• Forecasting Accuracy: Utilize detailed breakdowns in Budget Worksheet and key metrics in Budget Summary to improve forecasting accuracy and make more precise budget projections.
• Decision-Making Support: Access high-level overviews in Budget Summary and detailed breakdowns in Budget Worksheet to facilitate data-driven decision-making processes for budget tracking and management.

Key Performance Indicators (KPIs)

• Budget Amount: Represents the total amount allocated for a specific budget period or category within the Budget data model.
• Reporting Budget Amount (You Reporting Currency): Denotes the budget amount specifically for reporting purposes in a given currency, as identified by the reporting currency code You Reporting Currency within the Budget data model.

Available Visualizations

View Name	Description
Budget Worksheet	Offers a detailed breakdown of planned expenses and revenues for budget tracking.
Budget Summary	Provides a high-level overview of key budget metrics and variances for decision-making.
Budget vs. Actual	Compares planned budget figures with actual expenses and revenues for performance analysis.
Department Budget	Displays budget allocation and utilization by department to optimize resource allocation.
Budget Trends	Tracks historical budget data to identify patterns and trends for forecasting future budgets.
Budget Variance Analysis	Analyzes the differences between budgeted amounts and actual outcomes to improve financial planning.