Financial Modelling in Power BI (eBook)

This eBook teaches you how to use Power BI to create an integrated financial model that includes the income statement, balance sheet and cash flow statement. All the while learning new DAX functions and combinations that you didn’t think were possible.

Power BI & Financial Modelling?!

When you think of Power BI, you think of impressive visuals: A tool for data analysis. Not a tool that can create integrated financial statements!

That’s what makes this book truly groundbreaking.

Many working in banking and finance create their financial models in Excel and then import them into Power BI for graphical interpretation and further analysis.

No need!

You can build an entire financial model in Power BI.

That’s what my friend and MVP colleague Liam Bastick teaches you in his book. Liam has over 30 years experience in developing financial models. He took on a challenge no one dared to take on: Financial Modelling in Power BI.

Liam also has a special sense of humor which I find refreshing and he doesn’t hold back in his books either. If you’re familiar with his books and seminars, you know what I mean. If not, you’ll know after reading the first page 😄.

Building An Integrated Model With All 3 Financial Statements

Some people have managed to build the odd financial statement in Power BI, but not all three.

Until now.

If you want to push the boundaries of what’s possible in Power BI and learn advanced DAX functions, this is it!

Once you build the calculations for financial statements in Power BI, you can produce statements by product, by customer, by geography. The limitation will be restricted to the granularity of the underlying data and your imagination.

You’ll see a side of Power BI you didn’t think existed. You’ll learn to think creatively and build models that showcase your advanced skills.

Files Included

After enrolling, you’ll immediately get access to 340 pages to unearth some of the tricks, measures, logic and tools needed to build intelligent financial models in Power BI.

You can download the eBook in 2 formats:

📑 PDF

📑 ePUB

You’ll also get the the data file, example Power BI files and any other material that we think would be useful.

The easiest way to explore this book, is to use the same data file, and check your progress against the many images provided.

Chapter Summary

In this book, you’ll learn everything you need to know about financial modelling in Power BI. This includes best practices, theory, control accounts, creating parameters, calculating sales, formatting matrix visualizations, and much more.

The book starts with a chapter on getting started with Power BI, which covers everything from opening the Power Query editor to using Windows settings to control Power Query date display. You’ll also learn about the star schema, and how to import data into Power BI.

Next, the book covers financial statements theory, including balance sheets, cash flow statements, and appropriate order of financial statements. You’ll also learn about control accounts and how to create reliable references.

In chapter 8, you’ll learn how to calculate sales using the CALCULATE function, the DATEADD function, and the FILTER function, and how to create a sales control account.

Chapters 10-14 cover calculating COGS, VAR variables, calculating inventory (FIFO), and average inventory calculation, with a focus on controlling inventory cost.

Chapter 17 covers calculating debt and chapter 18 covers calculating interest, with a focus on avoiding circularity and returning to the case study.

Chapters 19-25 cover income statement, tax calculation, and cash flow statement, with a focus on creating equity and dividends control accounts and calculating net increase/decrease in cash held.

Finally, the book covers balance sheets and checks, providing you with a comprehensive understanding of financial modelling in Power BI.

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More About the Authors

Dr. Liam Bastick FCA FCMA CGMA MVP

Starting off as a university lecturer, Liam has over 30 years’ experience in financial model development / auditing, valuations, mergers and acquisitions, project finance, public private partnerships, strategy, training and consultancy. Indeed, he has been appointed as an independent expert for the courts of Victoria and New South Wales, in Australia.

He has considerable experience in many different sectors (e.g. banking, energy, media, mining, oil and gas, private equity, retail, transport and utilities) and has worked in many countries (including Australia, Belgium, Denmark, France, Germany, Hong Kong, Indonesia, Malaysia, Netherlands, New Zealand, Philippines, Singapore, Switzerland, United Kingdom, United States and Vietnam). He has worked with many internationally recognized clients, constructing and reviewing strategic, operational, planning and valuation models for many high profile International Public Offerings(IPOs), Leveraged Buy-Outs (LBOs) and strategic assignments.

Liam is a Fellow of the Institute of Chartered Accountants (FCA), a Fellow of the Institute of Chartered Management Accountants (FCMA), a Chartered Global Management Accountant (CGMA), and is also a professional mathematician, specialising in probability and number theory. In 2021, he was recipient of the inaugural Lifetime Achievement Award for financial modelling by the Financial Modeling Institute.

Jonathan Liau

Jonathan Liau was born in Singapore and lived in China as an ex-pat for most of his formative years. He served in the military in Singapore for two years before enrolling in the University of Sydney, studying Economics, Finance and IT. Until recently, Jonathan was a Senior Analyst at SumProduct Australia, specialising in Power BI projects.

Requirements

Knowledge of Power BI. Check out this course for more information.

Fundamentals in Finance and Accounting. This is a great course to get started.

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