The current suite of Income Statement drivers for a Business Unit model work really well when there is a uniform approach to the aggregation (by BU, or Totals), but having used the Reclassification option in Consolidation Modelling, it feels like this is the ultimate in flexibility when producing anything other than a standard P&L output.
Are there plans to introduce this as a standard Driver, or will this continue to be a bespoke request from the Support team?
thanks,
Kevin
Hi Kevin.
Thanks for this suggestion, it’s exactly what this forum is for.
This is a great suggestion and definitely something we can and should include as either a driver or extension.
For our understanding, are you looking to reclassify within specific business units, or during the entity-level business units P&L aggregation?
If it’s within specific business units, we will need to add that to our To Do list as we don’t currently have that in any of our drivers or extensions.
If it’s within the entity-level aggregated P&L, you can now do this using the new Management Income Statement, which you can include via the Analysis menu, as shown below:
As shown below, the Management Income Statement allows for the reclassification of income statement items any way you choose just like the consolidated income statement reclassification, therefore basically supporting breaking things out any way you like:
After including a Management Income Statement, you can also include management income statement reports to include your reclassified data in your reports:
These reports will then display your re-classified data, as shown below:
Let us know if this addresses what you’re after.
Thanks Michael.
I’d be looking for it at the Entity-level P&L aggregation for sure. A common requirement I see in BU-Modelling is the need for a Head Office, or Service Co Unit, that has a different cost setup, or is not Revenue generating i.e. mix & match styles of COA, PLUS the ability to pick and choose which parts of my COA I want to be aggregated (Product-level down to Gross Margin, then BU-level for costs as an example).
Reclassification is the ultimate solution…or at least WAS until I’ve seen the Management IS (!). I remember seeing this pop-up a few versions back, but I don’t recall seeing an Annual presentation, or the Reporting links. I actually think this is a great solution, not just to address the Reclass, but it looks like I can run parallel Income Statements in the same Model, which effectively allows for pivoting when the Client wants dual views.
I’m going to use this in a live Model over the next week and will give further feedback when it’s been used in a real business case.
As an aside, I wonder if this could also be used to address another requirement I see occasionally, when an Entity has a fiscal year-end outside of December, but views their business P&L on a Calendar year: could I use Management IS (for P&L only) to run a December Y/E, and maintain the mid-year Fiscal Y/E IS/BS/CF as the primary output? I would likely need an alternate Time Series… is this worthy of Development… a new TS that is Jan-Dec M1-M12, specifically to allow parallel presentation of P&L?
Yes the management income statement is basically a generic P&L reclassification, we’ve called it ‘Management’ but you can rename it to whatever you need.
As a general comment - as I’m sure you’re aware as a longstanding Modano user - we’ve transitioned from a less comprehensive platform that was very much open source to a more comprehensive platform that’s more guard railed. And our next focus is on that gap in between where there are edge cases that still require quite significant customizations but ideally these can be done quite easily without a lot of training, etc.
But having said this, the smartest approach is always to refactor existing analysis if possible.
For your differential financial year end P&L, yes you could use (and potentially re-title) and management income statement and then amend the management income statement reports to link in different columns to show the different financial year.
You could also ask our team to insert additional report pages then customize them yourself.
Over the coming months we will be releasing a bunch of tools focusing on that middle ground - e.g. creating custom report pages, etc.
In the interim we’re hoping this forum provides a positive feedback loop and there’s always our support platform if you have very specific requirements.
