Financial Reporting

Welcome to the Vena Solutions Financial Reporting Blog. From business insights to industry best practices, learn how to create accurate reports in less time.

GAAP and IFRS Explained: Definition & Key Differences

March 13, 2023 |

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What Is Financial Reporting and Why Is It Important?

Numbers paint a picture, tell a story, reveal the truth. As such, it's critically important that your financial reporting is accurate, thorough, and up to date. As one of the minds leveraging those numbers, it’s your job, as part of the finance team, to te......

March 7, 2023 |

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All You Need To Know About Crypto Asset Accounting

In 2021, Tesla Inc. invested $1.5 billion into bitcoin, only to exchange 75% of it for fiat currency a year later.  Whether cryptocurrency is a good investment for your business is a question only time can answer. But one thing is for certain: you need to ......

March 3, 2023 |

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Three-Statement Financial Model - Everything You Need To Know

Accounting allows us to comprehend an organization's historical financial statements. However, forecasts based on those financial statements let us analyze how a firm will perform under various assumption types. We can do this using a three-statement finan......

February 16, 2023 |

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Financial Ratios - What Are They And How Can You Use Them?

Numbers tell a story. We already know that: we’re all experienced data-driven storytellers here. But raw data, even after it’s been summarized in your reports, does not a full story make. Like the words of a novel, you’ll get more out of the values you rep......

February 15, 2023 |

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How To Find New Revenue Streams From Your Analytics

Leverage the power of data to find new revenue streams from your analytics.  Data is the lifeblood of your business. Without it, you lack the information and insights you need to not only create financial reporting to analyze revenue, but also to find addi......

January 26, 2023 |

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The Pros and Cons of Constant Currency Reporting

You want your investors to see your business positively. To view the gains you’re making across the globe. But the question is: Do you use constant currency reporting to do it?  For many, the constant currency approach to reporting is a controversial one. ......

January 19, 2023 |

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The Quick Guide to Flux Analysis Accounting

Flux analysis accounting, also known as variance analysis, provides insights that help decision makers and department leads understand a company's financial position. As a company grows, it is essential to compare data not only for revenue and expenses, bu......

January 17, 2023 |

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How To Create a Bank Reconciliation Template in Excel

Bank reconciliation is one of the most critical tasks of every finance and accounting department in a company. It compares the bank account balance on the company's books with your company's account balance on the bank books.  Every company reconciles its ......

January 3, 2023 |

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4 Best Practices For Creating a Variance Analysis Report in Excel

  Your recent budgets had significantly high variances—higher than 10%. Your management team will want to know why and they’ll be asking questions such as: How much did we budget Production Volume Costs for in December? What was the difference between what......

December 16, 2022 |

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