FD4Cast - ICAEW.com
Contents
1. Var Cft 27 282. Accrued Income London o o o o o o o 0 0 o o 0 o 29 Accrued Income Manchester o o o o o o o 0 0 o o 0 n 30 Accrued Income Bristol o o o o o o o 0 0 0 o 0 n 31 Accrued income Birmingham 0 0 0 0 o o 0 0 0 o o 0 o 32 Accruedincome o o o o o o o o 0 o o 0 n 33 Accrued income o o o o o o o o 0 o o 0 n 34 o o o o o o o o o o o 0 n 35 o o o 0 o o o o o o o 0 o 36 o o o o o o o 0 0 o o 0 0 37 o o o o o o o o o o o o o 38 o o o 0 0 o o 0 0 o o o ol 39 o o o 0 o o o o o o o o ol 40 o o o o o o o o o o o o o 41 Closing Balance of Deferred interest Payable o o o o o o o o o o o o 0 Fin Sum_ Fin Det Fin Bsh_ Bsh Det Fin CfI Fin Cf2 Brd Sum y Brd Cpl Brd Act Brd Bsh Brd Ccf_ Brd Fcs Brd Sns Bas Obs Cin Nam Cot Nam Bas Nam Fas Nam Ready CF ij E mart Notepad JAMES F T FD4 Microsoft Excel REP A Micro 25 Example of graphical cashflow report E REPORTS FOR JOHN Microsoft Excel Dex Home Insert Pagelayout Formulas Data Review View Developer Addins FD4Cast ox 925 Nana xe A A aH AA pa Historical Forecast Forecast Balance Capex Stock Finance TAX and Standard Custom Board Variance Scenario Configure Change Checksums Audit Licencing Data Income Costs Sheety y VAT gt Reports Reports Pack Analysis Planning Model Period Functi
3. Actual Aug 08 Actual Sep 08 Actual Oct 08 Actual Nov 08 Actual Dec 08 Actual Example showing an income data entry page on the master spreadsheet E FDACAST EVALUATION Microsoft Excel ES Home Insert Page Layout Formulas Data Review View Developer Add Ins FD4Cast 9 9 X Historical Forecast Forecast Balance Capex Stock Finance TAXand Standard Custom Board Variance Scenario Configure Change Checksums licencing Data Income Costs Sheet VAT Reports Reports Pack Analysis Planning Model Period Function Create Forecast View Outputs Licencing pTO Meri B lt SR R AA A3 M El Ea B Per PU PND AE O Y A TR e JU Y AB AC AD AE AF 1 Income Forecast 4 Input your Forecast Revenue Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 5 Leave blank if you don t know or for zero enter O Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast H 5 7 Sales Other 8 Total Forecast Revenue Entered o o o o o o o 9 Enter growth from last period 10 Enter growth from a year ago i 24 Enter any Other Income Excl From Tax Calc Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 D
4. Can the percentage of sales of stock be forecast by calculation 10 Functional requirements questionnaire Product FD4CAST Version 1 0 Question Supplier Response Evaluator s Comment i Different for each sales Yes Confirmed category each one constant during the forecast period 11 An average of all sales Yes Confirmed categories but varying against time during the forecast period 111 Different for each sales Yes Confirmed category and period Can stock values be entered by i Initially setting stock to the Yes Confirmed same as last historic with the ability to overtype 11 Known values Yes Confirmed Can trade creditors be projected by 1 Calculating from trade Yes Confirmed creditor days 11 Calculating from trade as a No Confirmed percentage of sales 111 By entering known values No Confirmed Can trade creditors or percentage of sales for trade creditors as selected be forecast by 1 An average for all sales Yes by setting a profile Confirmed categories and constant during the forecast period 11 Different for each sales Yes Confirmed category 111 An average of all sales No Confirmed categories but varying against time during the forecast period 1v Different for each sales Yes Confirmed category Can trade creditor values be input by 1 Initially setting trade creditors Yes Confirmed as the same as the last historic with the ability to overtype Yes Confirmed 11By entering know
5. Support consultancy and installation services are provided by FD4Cast Ltd directly Software installation and support The installation of the system consists of initially installing and registering an add in to Excel called XLSafe PRO from DataSafeXL com evaluation of this add in is not included in the evaluation which is provided with the product either by downloading from the web or being sent by email See Appendix A for further information about FD4Cast and XLSafe PRO The master Excel spreadsheet will be distributed as a zip file by email together with a user manual Part of the service will be talking users through the installation and set up process by phone or via an on site visit 3 8 Partner network and related accreditation process At present the software is sold directly by FD4Cast but partners may be considered in the future Further details of the product can be seen in a brochure and by discussing it with the supplier Users can sign up for a user licence from FD4Cast Ltd who also provide consultancy and training 3 9 Limitations Highlighted issues No real limitations were found within the product as it allows users sufficient flexibility to cater for most areas required in financial modelling 4 Evaluation conclusion There were no areas in the evaluation that gave concern FD4Cast is a well designed financial modelling package that combines historic data with business drivers and enables the interpretation of the bu
6. laid down in the summary Approach and Work performed In order to evaluate FD4Cast version 1 0 effectively a product specialist from FD4Cast completed the detailed questionnaire and provided it to the evaluator to examine The evaluator then met with a technical member from FD4Cast Ltd who gave a detailed presentation as to how the product operated including the generation and modification of financial models A generated model was examined in detail and all of the menu options were reviewed changes were made to the complexity of the model sample data was entered and the associated reports produced and examined A new model was built from the master spreadsheet and as data was entered samples of the results generated were checked for correctness The spreadsheet model and its formulae had been previously independently audited by an ICAEW professional with many years experience in financial management and auditing for major companies and chartered accountants 2 3 2 4 A draft of this report was produced and submitted to FD4Cast Ltd for their comments These comments were then carefully reviewed and the report updated Once the updates had been completed the report was submitted to the ICAEW for comment and approval before completion A senior member of IT Evaluation Services carried out the evaluation The evaluator had carried out evaluations of many other accounting and financial products under the ICAEW Software Accreditation S
7. 0 255 918597 1096 105 1122321 1155991 1190 671 1226391 1263182 1301078 1340M 138034 1421723 agas 1508 306 150 565 Depreciation on Fixed Assets 21 435 20 672 137 484 37 484 37 484 137 484 137 484 37 484 6 742 3 145 3 185 13 145 3 145 3 145 13 145 13 145 OPERATING PROFIT 1 110 499 589 583 876 113 1 058 621 1 084 837 1 118 507 1153187 1 188 907 1 256 441 1 297 933 1 336 965 1 377 169 1418578 1 461 230 1 505 161 1 550 410 1 Other Income Other Costs 690 2916 27 100 127 913 28 750 29 618 130 501 131416 132 359 33 330 34 329 135 359 136 420 137 513 38 638 139 797 Other financial income charges o o o o o o o o o o o o o o o o Interest receivable 1884 2194 o o o o o o o o o o o o o o Overdraft Other Interest Paid o o o o o o o o o o o o o o o o Profit Loss on Intangible amp Tangible Asset Disposals o o o o o o o n o o o 0 o o 0 o PROFIT BEFORE TAX 1 113 072 594 093 849 013 1 030 708 1 056 087 1 088 894 1122686 1 157 491 1 224 082 1 264 604 1 302 636 1341809 1 382 158 1423 717 1 466 523 1 510 613 Corporation Tax Provision by Month o o 245 312 296 414 03750 819 182 922 892 332894 251 803 363421 374 350 385 607 397202 409 144 421 445 434 115 PROFIT AFTER TAX 10072 594099 603 702 794294 752333 TRR 799793 824597 872278 901182 928288 956202 984958 104 573 1045078 1076488 Dividends declared 0 0 o o o o 0 o 0 o o 0 0 0 0 0 TRANSFER TO RESERVES 1 112 323 589 888 603 702 734 294 752 333 775 712
8. 00 00 00 00 00 32 33 Unwinding of Forecast Debtor Balances incl VAT Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 34 Calculated from the above profile E Current Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Fol 35 Debtors Saes ooo o a 8 D 0 0 o a a 0 a 3 R1 L H FdrHis M nta nET Bus Drv_ Cot Fes Cot Prf Bas Aut Bas Man Fas Opb Fas Ass Fas Dsp Wke Inv Fin Dep _ Fin ins Fin Fls Fin Fac Fin Shc Tax Sum Vat Ready 23 i e y E start e E E MARK TODO Notepad Computer B Microsoft Excel FD4 TN FDA REENSH ROE FAL 16 15 22 APPENDIX D Example of configuring the master spreadsheet in setting dates 3 FDACAST EVALUATION Microsoft Excel ES Home Insert Pagelayout Formulas View Developer Add Ins E ox 3 3 58628 Odas e e Historical Forecast Forecast Balance Capex Finance TAX and Standard Custom Board Variance Scenario Change Checksums Audit Licencing Data Income Costs Sheet VAT Reports Reports Pack Analysis Planning Period Function View Outputs Names Import NEWCO Historic Actuals Forecast tem Group so RRR ls oo MARK Notepad G F My Computer Example of how to add remove categories within the master spreadsheet a FDACAST EVALUATION M
9. 799 793 824 597 872 279 901 182 928 286 956 202 384 956 1 014 573 1 045 078 1 076 498 43 OPERATING RATIOS EJ EE Se m 45 519 756 ELA 878 878 878 878 46 Operating Profit as of Revenue 50 1 725 85 1 84 6 84 7 84 8 84 9 874K 874 87 4 874 874 874 LR 1 gt H Fin Sum Fin Det Fin Bsh Bsh Det Fin Cf1 Fin Cf2 Brd Sum lt Brd Cpl Brd Act Brd Bsh Brd Ccf lt Brd Fes_ Brd Sns Bas Obs Cin Nam Cot Nam Bas Nam_ Fas Nam WI Calculate 23 Calculating 2 Processor s 8256 1 start O e 24 E MARK TO DO Notepad Re FD4Cast JAMES F E FD4CAST SCREENSH Microsoft Excel REP E REPORTS FOR JOHN Microsoft Excel ES Home Inset Page Layout Formulas Data Review View Developer Addins FD4Cast 9 9 gt If A S S TH ER TSH Hs da AA A Historical Forecast Forecast Balance Capex Stock Finance TAXand Standard Custom Board Variance Scenario Configure Change Checksums Audit Licencing Data Income Costs Sheet VAT gt Reports Reports Pack Analysis Planning Model Period Function View Outputs Licencing Ya lag B f R aa AB AC AD AE AF aG AH Al Al AK AL AM AN 1 Balance Sheet Detailed Report fo Ta 4 Balance Sheet Aug09 Sep09 Oct09 Novos Dec09 Jant0 Febi0 Mar10 Apr O May10 Jumi0 Jul10 Augt0 Sep10 Oct10 Nov10 5 Current Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecas
10. Rs at present Confirmed Supplier and VAR how can the situation be resolved Detail the types of cover available 24x7 Confirmed Please note all method of support available 1 Telephone Yes Confirmed 11 Modem link No Confirmed 111 Internet Yes remote support dial in Confirmed 1v Other specify Visit to client Confirmed Please provide an indicative cost of Currently includes cost of Confirmed cover cover within the subscription cost i Are bug fixes free of charge Yes Confirmed ii For how long For the Product Lifecycle Confirmed How often are general software Not envisaged Confirmed enhancements provided Will they be given free of charge N A How are enhancements and bug Only ongoing customisation Confirmed fixes provided to customers 14 12 13 14 15 16 17 18 19 Functional requirements questionnaire Product FD4CAST Version 1 0 Question Is hot line support to assist with immediate problem solving available If so is there an additional cost involved At what times will this support be available Who provides training i Direct from Software House iiFrom a VAR Is hardware and maintenance provided by i Software House ii VAR Is a warranty offered in respect of specification of the software Will the software supplier dealer make the program source code available to the user either directly or by deposit with a third party Escrow Are there a
11. Standard Reports that can be Produced Master Spreadsheet Examples Configuring the Spreadsheet Examples Example Reports Checksum Report Example Page A LH ua ana hh bh hb BR A hh Y Y Y uy N 14 16 18 20 21 23 25 27 1 Summary 1 1 Introduction The suitability of financial modelling software for each particular user will always be dependent upon that user s individual requirements These requirements should therefore always be fully considered before software is acquired The quality of the software developers or suppliers should also be considered at the onset Fundamentally financial modelling software should Be capable of supporting the financial modelling functions for which it was designed Provide facilities to ensure the completeness accuracy confidentiality and continued integrity of these financial modelling functions Be effectively supported and maintained It is also desirable that financial modelling software should Be easy to learn understand and operate Make best practical use of available resources Accommodate changes to reflect specific user requirements It is essential when software is implemented for appropriate support and training to be available 2 Approach to evaluation 2 1 2 2 Objective To evaluate FD4Cast version 1 0 against a set of criteria developed by the ICAEW to ensure that the software meets the requirements of financial modelling software as
12. THE INSTITUTE OF CHARTERED ACCOUNTANTS ACCREDITED SOFTWARE ICAEW Accreditation Scheme Financial Modelling Software Evaluation FD4Cast Version 1 0 by FD4Cast Ltd Evaluation carried out by IT Evaluation Services Date Completed 13 January 2010 Signed Disclaimer The Institute of Chartered Accountants in England and Wales has accredited this software under the terms of its Accreditation Scheme Purchasers should ensure that the software its security features and related support meet their own specific requirements as the Institute will not be liable for any damage whatsoever incurred by any person occasioned by the use of the software or any related products or services howsoever caused Contents 1 0 1 1 2 0 2 1 2 2 2 3 2 4 3 0 3 1 3 2 3 3 3 4 3 5 3 6 3 7 3 8 3 9 4 0 Topic Summary Introduction Approach to evaluation Objective Approach and work performed Software hardware utilised Report structure Matters to consider before purchasing General overview Supplier background Product background and suitability for user Typical installation Target market Software hardware specification Software installation and support Partnership network and related accreditation process Limitations highlighted issues Evaluation Conclusion Functional requirements questionnaire Modelling Features Support and Maintenance User Documentation APPENDICES Product Details and Operation
13. Yearly Can the following types of analysis reports be produced i Sales forecast ii Operating expense forecast iii Combined sales and expense statement iv Operating profit forecast for company or division v Profit and loss vi Balance sheet vii Operating cash flow viii Discounted cash flow What types of categories does the product include Can the sales forecast be shown as either a single total line or by each line of business Can the number of sales categories be specified Can the title of the sales categories be defined Supplier Response Yes Yes Yes maximum 20 periods 10 years Yes Monthly as default but can be customised to include Quarterly Half Yearly and Yearly Yes Yes Yes Yes Yes Yes Yes Yes Yes User can use data to customise this report Yes Yes comes with 2 set up but unlimited number available Yes Evaluator s Comment Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed 11 12 13 14 15 16 17 Functional requirements questionnaire Product FD4CAST Version 1 0 Question Can the model be set to model future sales by entering 1 A constant growth rate 11 Different growth rates for each period 111 Known values Iv Same growth rate for each categ
14. alance sheet summary Detailed balance sheet Cashflow inflow and outflow Cashflow EDITDA ANALYSIS Variance chart Profit amp loss variance Balance sheet variance Variance cashflow inflow and outflow Variance cashflow EDITDA Budget variances Scenario comparisons OTHER DETAILS INCLUDED Working capital Interest calculations Taxation VAT Taxation corporation tax Capital expenditure summary Operating income Operating costs Operating profit Opening balance sheet Working capital receivables Working capital payables Working capital inventory Capital expenditure Financing summary Discounted cashflow 20 APPENDIX C Example showing default category names on master spreadsheet Home Insert Page Layout Formulas Data Review View Developer FDACAST EVALUATION Microsoft Excel FD4Cast cox Bale 2 Forecast Forecast Balance Capex Finance TAX and Income Costs Sheet VAT Create Forecast Standard Custom Board Variance Scenario Reports Reports Pack Analysis Planning Configure Model Change Checksums Audit Period Function Dow Licencing Licencing 1 A3 Names Import NEWCO Historic Actuals Forecast em Group A B E Feb 08 Actual Mar 08 Actual Z My Computer Apr 08 Actual Jun 08 Actual May 08 Actual Jul 08
15. are flowing through the model XLSafe PRO The installation of the systems consists of initially installing and registering an add in to Microsoft Excel called XLSafe PRO from DataSafe Features of XLSafe PRO include e An innovative security system which protects the contents of spreadsheets from unauthorised use and unauthorised access e Strong protection against password recovery software and other third party intrusion tools This is achieved through the XLSafe PRO advanced protection platform and security algorithms 18 e Easily to maintain the design of spreadsheets and protect them from accidental or intentional changes e Ability to protect hide the contents of cells containing formulae text labels and constant values with a click of a button Also easy to specify input cells and leave them unprotected based on their cell colour Configuring and using the Spreadsheet Examples from the master spreadsheet are given in appendix C The method used to configure the spreadsheet model is by initially specifying and then creating the number of forecast lines in each category of for example Sales Cost of Sales Operating Expenses Current Assets etc VAT Sales Tax profiles for each line are then configured as are Corporation Tax amp Sales Tax payment timings Examples of these are given in Appendix D The fields for data entry are clearly defined as yellow cells and as data is entered in the fields indicated the formulae ar
16. ast Forecast Forecast peg Pato Forecast Forecast Forecast Other Financial Income A ee A Total Other Financial Income o o o o o o o o o o Revenue Invoiced Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Dec 09 Jan 10 Feb10 Mar 10 As input above Current Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast o o o o 0 0 0 o 0 0 0 0 o o 0 Sales Other o 0 0 0 0 o o o o 0 0 0 o o o Total Net Increase in invoiced Revenue o o o o o o o o o o 0 0 o o 0 New Accrued Revenue Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 As specified in Timings but NOT including releases from Opening Balanoe Sheet Current Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast H o o o o o o o o o o o o o 0 o Cin Fes Cin Prf_ Bus Drv_ Cot Fcs Cot Prf Bas Aut Bas Man as Opb Fas Ass Fas Dsp Wkc Inv Fin Dep Finns Fin Fis_ Fin Fac Fin Shc Tax Sum Vat Sum_ Tax Select destination and press ENTER or choose Paste i W BBVA Vane ss sSsG Re 88 8 98 wees eo 0 y oa a us 8 alu eis 24 SR RRRRNKRSRRRRRSIRR X 401 4 X z start Se P ma Notepad a t T My Computer B Microsoft Excel FD4 T FD4CA 23 Example of configuring the master spreadsheet in setting the number of detail lines within each categor
17. cheme over many years Software hardware utilised The software used was FD4Cast version 1 0 master spreadsheet and XLSafe PRO see 3 7 running on Microsoft Excel version 2007 The hardware used for the test was an Dell Latitude D630 portable with an Intel core 2 duo CPU T7500 2 2Ghz processor 2GB RAM and 111GB hard disk operating under Windows XP Pro 2002 service pack 3 Report structure The report has been broken down into its main constituents in the contents page The evaluation questionnaire was agreed by the ICAEW and has been used without alteration or amendment Matters to consider before purchase 3 1 3 2 General overview FD4CAST is a corporate financial modelling system that enables financial and planning professionals to plan their business future by enabling them to exercise judgement in their forecasting the perceptive process as well as performing trending from historic inputs learnt process FD4CAST Ltd state that this system is designed and constructed using an advanced method of VBA programming that creates user friendly robust Microsoft Excel 2007 spreadsheet models in a very rugged fashion based on a formal definition language and methodology Models are constructed from a template allowing users to create as many different models as they wish FD4CAST claim that total construction and configuration time is estimated to be around 30 minutes or less per model Supplier background FD4Cast Ltd i
18. e applied and the financial forecast reports are gradually built up As with a normal Excel spreadsheet data can be changed until the users are satisfied with the financial forecast and the report pages can then be printed Some example reports are included in appendix E If the user wishes changes or extensions can be made to the report layouts to produce the desired result The memo section includes a user area so that the user can construct their own formulae or detailed analysis that can be fed into inputs or used to produce additional reporting formats for output Historical data if any can be input into the model either manually from a script accessing the tables in the user s accounts system or as a link to another spreadsheet thus providing historical figures from which to forecast Historical Closing Balances Current Opening Balances which need to be unwound are dealt with using an unwinding profile as are forecast receivables and payables which are specified in a similar fashion At this point the user can then enter their forecast data in order to produce reports and conduct interactive forecasting decision making sessions such as scenario planning 19 APPENDIX B LIST OF STANDARD REPORTS THAT CAN BE PRODUCED BOARD PACK One page summary Balance Sheet Profit amp loss Cash flow Historic variance Forecast variance Scenario planning DETAILED SCHEDULES Profit amp loss summary Detailed profit amp loss B
19. ec 09 Jan 10 Feb 10 Mar 10 25 As carried forward to Income Statement Current Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast H 26 S 27 oth inc Other i 28 Total Forecast Other Income Entered o o o o o o o o o o o o o o o 29 Enter growth from last period 30 Enter growth from a year ago 31 44 45 Other Financial Income Feb09 Maros Apr09 May09 Jun09 Julos Aug09 Sep09 gens Nov09 Decos Janio Feb10 Marto 46 As carried forward to Income Statement Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast 9 47 Other Financial income i 48 Total Other Financial income o o o o o o o o o o o o o 49 ml _51 Revenue Invoiced Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 52 Asinput above Current Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast 53 o o o o 8 0 o o a o 2 o 0 y Yo 54 sales Other o o o o o o o o o o o o o o o 55 Total Net Increase in invoiced Revenue o o o o 0 0 o o o o o o 0 o o 56 57 New Accrued Revenue Jan09 Feb09 Harn Apr Har 08 Jun09 Julos Aug09 Sep09 gens Nov09 Dec09 Janio Feb10 Marto 58 Asspecifiedin Timings but NOT including releases from Opening Balance Sheet Current Forecast Forecast Forecast Forecast Forecast Forecast F
20. ecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Fol 8 Cash owed by Customers 9 AsatstartofJan2009 10 Debtors General o E L 12 Debtors Other _ o 13 Total Trade Debtors o 14 J J J 5 Collection Profile of Opening Debtor Balance MonthO Month 1 Month 2 Month 3 Month 4 Month 5 Month 5 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 16 How the Opening Trade Debtors wilbecolected Jan09 Feb09 Mar09 Apr 9 May09 Jun 09 Jul09 AugOg Sep09 Oct09 NOVOS Dec0g Jan10 17 Debtors General 7 7 18 Debtors Sales III 19 Debtors Other 20 E 21 Collected from Opening Debtor Balance Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 22 Calculateditomthe above profe E Current Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast 23 Debtors General o o o o 0 o o o 0 0 0 o o 25 Debtors Other 0 o 0 0 0 0 0 0 0 0 0 0 o 26 Total Colected from Op o o o o 0 o o o o o o o 0 27 28 Unwinding Profile of Forecast Debtor Balances MonthO Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 29 As already specified in Income Cash Collection Profiles Cin Prf Jan09 Feb09 Marog Apr09 May09 Jun09 Jul09 Aug09 Sep09 Oct0g NOVOS peep Jant0 30 Debtors Sales 1 D 330 330 150 ar 50 3 0 10 00 00 00 00 00 31 Debtors Other 00 330 33 04 15 0 10 0 50 3 0 10
21. ensitive help 9 Do they provide on line Yes Confirmed instructions on how to use particular features of the software 10 Can they be edited or prepared by No Confirmed the user 11 Will the Software House make the No Confirmed detailed program documentation e g file definitions for third party links 16 Functional requirements questionnaire Product FD4CAST Version 1 0 Question Supplier Response Evaluator s Comment available to the user either directly or by deposit with a third party 17 APPENDIX A Product Details and Operation Financial models Financial models can be created that include all required forecasting elements from a sales forecast operating expense budget working capital modelling capital expenditure and depreciation analysis through to loans leases trade debtor financing etc all being summarised in traditional cash flow analysis profit and loss and balance sheet format Unlike black box modelling applications the workbooks created can be extended by the user by using Microsoft Excel in the normal way The model has a main part which is protected so that the user cannot accidentally corrupt the formulae generated Included in this main part is a selection of Standard Summary and Detailed Reports for Profit and Loss Balance Sheet and Cash Flow There is also a second part comprising unprotected blank sheets on which the user can for example create their own custom reports which dra
22. er RLH HRH O CnFcs CinPrf BusDr Cot Fes CotPr Bas Aut BasMan Fas Opb Fas Ass Fas Dsp Wkc Inv Fin Dep Finns Fins Fin Fac_ Fin She Tax Sum ES EEI Ready 2 NO y start Ge MARK TO Notepad a Y my Computer B Microsoft Excel FD4 T par EENSH E PA 16 14 Es Home Insert Page Layout Formulas Data Review View Developer Example showing debtors creditor profiles data entry page on the master spreadsheet FDACAST EVALUATION Microsoft Excel Add ins FD4Cast Q x Aw JURADA a J Mes gt amp Historical Forecast Forecast Balance Capex Stock Finance TAXand Standard Custom Board Variance Scenario Configure Change Checksums Audit Licencing Data Income Costs Sheet VAT Reports Reports Pack Analysis Planning Model Period Function E E Create Forecast JE Tools Licencing F7 G B Id D Ln 1 J K Y p a R s E 1 Automatic Unwinding of Debtors and Creditors Prepayments and Accruals Accrued and Deferred Income and WIP Z 1 Go to Debtors 2 Go to Creditors 3 Go to Prepayments 4 Go to Accruals 5 Go to Accrued Income 6 Go to Deferred Income 7 Go to WIP 8 Go to Acc amp Def Interest 9 Working Capital Jan09 Feb09 Harn Apr09 May09 Jun 09 Julos Aug09 Sep09 Oct09 Novos Dec09 Jant0 Feb 0 Current Forecast Forecast Forecast Forecast Forecast For
23. er extended or reduced Yes up to 10 years 120 periods can be later extended or reduced Not as standard can be customised 12 Evaluator s Comment Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed 40 41 42 Functional requirements questionnaire Product FD4CAST Version 1 0 Question Supplier Response Evaluator s Comment Is there a facility so that any Yes Confirmed number in the summary report can be traced to see where the calculations are derived Can a historic balance sheet be Yes Confirmed reported Can customisable reports be Yes by user or via consultancy Confirmed produced 13 Functional requirements questionnaire Product FD4CAST Version 1 0 Question Supplier Response Evaluator s Comment Support and maintenance How is the software sold i Direct from Software House Yes Confirmed 11 Via Value Added Reseller Possibly later Confirmed intention VAR How is the product supported i Direct by Software House Yes Confirmed 11 By VAR No Confirmed Is the software sold based upon On a per PC basis Confirmed number of users or number of concurrent users Do VARs have to go through an No VAR S at present Confirmed accreditation process 1 If Yes please note the process N A ii If No please explain how N A organisations are chosen to be VAR In the event of a dispute between No VA
24. icrosoft Excel 5x Inset Pagelayout Formulas Data Review View Developer Addins FD4Cast cox DITA yo a a A Historical Forecast Forecast Balance Capex Finance TAXand Standard Custom Board Variance Scenario Change Checksums Audit Licencing Data Income Costs Sheet VAT Reports Reports Pack Analysis Planning ly Period Function FEE remove categories E Show Hide Categories S ee Income Forecast Hi gi o m w 4 E Input your Forecast Revenue Jan 09 Feb 09 Mar 09 Apr09 ug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 ve blank if you don t know or for zero enter O Current Forecast Forecast Forecast recast Forecast Forecast E fore Forecast Forecast tner Total Forecast Revenue Entered Enter growth from last period Enter growth from a year ago ug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 recast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Enter any Other Income Excl From Tax Calc Jan 09 Feb 09 Mar 09 Apr 09 As carried forward to Income Statement Current Forecast Forecast Forecast Oth Inc Other Total Forecast Other income Entered Enter growth from last period Enter growth from a year ago Other Financial Income Jan 09 Feb09 Mar 09 Apr 09 A Set Date lov 09 Jan 10 Feb10 Mar10 As carried forward to Income Statement Current Forec
25. n values 11 32 33 34 35 36 37 38 38 Functional requirements questionnaire Product FD4CAST Version 1 0 Question Can the number of other debtor categories be defined Can the number of other creditor categories be defined Can the balances of loans be projected by i Calculating from opening balance by inputting repayments and amount drawn 11 By inputting the closing balance for each period and calculating repayments Can the free cashflow be defined for the discounted cash flow as 1 Operating cashflow EBITA less tax paid and working capital movements not including capital expenditure ii Operating cashflow as above but after capital expenditure and proceeds of disposals Cashflow after all items including interest loan movements and capital expenditure lat x 11 Can a summary of key numbers be included Can the number of historic periods in the model be specified Can the number of future periods in the model be specified Is there a key indicator panel showing changes as forecast assumptions are varied Supplier Response Yes comes with 2 set up but unlimited number available plus general debtors category Yes comes with 2 set up but unlimited number available plus general creditors category Yes Yes Yes user customised Yes user customised Yes user customised Not as standard can be customised Yes no limit can be lat
26. nnaire Product FD4CAST Version 1 0 Question Supplier Response Evaluator s Comment 24 Can trade debtor be projected by i Calculating from trade debtor No by period Confirmed days 11 Calculating from trade debtors Yes Confirmed as a percentage of sales 111 By entering known values No Confirmed 25 Can trade debtor profile be forecast By period Confirmed by 1 An average for all sales Yes Confirmed categories and constant during the forecast period 11 Different for each sales Yes Confirmed category each one constant during the forecast period 111 An average of all sales No Confirmed categories but varying against time during the forecast period 1v Different for each sales Yes Confirmed category and period 26 Can future stock be projected by 1 Calculating from stock days Yes user can do own Confirmed calculation 11 Calculating from stock as a Yes Confirmed percentage of sales 111 By inputting known values Yes Confirmed 27 Can stock days be forecast by 1 An average for all sales Yes user can do own Confirmed categories and constant during calculation the forecast period ii Different for each sales Yes user can do own Confirmed category each one constant calculation during the forecast period 111 An average of all sales Yes user can do own Confirmed categories but varying against calculation time during the forecast period 1v Different for each sales category Yes user can do own Confirmed 27 and period
27. ny unduly restrictive conditions in the license for the software Supplier Response Yes Standard office hours Yes N A Not provided as it fits all standard PCs with Excel 2007 N A Yes 3 months No 15 Evaluator s Comment Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Functional requirements questionnaire Product FD4CAST Version 1 0 Question Supplier Response Evaluator s Comment 7 User Documentation This section applies to any of online hardcopy or other e g WWW documentation specify whicl applicable 1 Is the manual clearly laid out and Yes manual in form of PDF Confirmed understandable 2 Is the manual comprehensive and Yes Confirmed accurate 3 Is there an index to the manual Yes Confirmed 4 Is it easy to locate specific topics in Yes Confirmed the manual when required 5 Is it easy to follow through all Yes Confirmed procedures in the manual 6 Does the manual include i A tutorial section No Confirmed ii A guide to basic functions Yes Confirmed iii Pictures of screens Yes Confirmed iv Completed examples Yes Confirmed included in the manual v Specific error correction No Confirmed procedures 7 Does the documentation clearly Yes Confirmed specify the actions to be taken by users at each important stage of processing 8 Are help screens available relating No Confirmed to the task in hand context s
28. o o 0 0 0 0 0 Enter Cost of Sales as values Janos Feb09 Maros Apr09 May09 Jum09 Julos Aug09 Sep09 Oct09 Novo Dec09 iann Febio Mart0 Apri0 Current Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast cos 1 Other IR enter growth from last period W you do not input firm data this growth will be applied 0 0 0 0 o 0 o 0 0 0 0 0 o 0 0 o Janos Feb09 Maros Apr09 May09 Jun09 Julos Aug09 Sep09 Oct09 NOVOS Jant0 epn Marto Apr Current Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Hide this table OR enter growth from year ago Growths entered here willbe applied to last years data Novos hern Forecast Forecast Mar 09 Forecast Jan 09 Current Jul og Forecast Feb 09 Forecast Apr 03 Forecast May 09 Forecast Jun 09 Forecast Aug 09 Forecast Oct 09 Forecast Jan 10 Forecast Feb 10 forecast Mar 10 Forecast Aprt0 Forecast Enter Stock Purchases as values Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Jan 10 Feb 10 Mar 10 Apr 10 75 Must also enter forecast stook usage and adjustments in Whey Current Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast eat Forecast Forecast Forecast Forecast 34 Stock 35 Oth
29. ome Costs Sheet gt VAT Reports Reports Pack Analysis Planning Model Period Function Create Forecast j Tools Licencing d AA AR IL AT A AF AG AH A A AK AL Profit 8 Loss Summary Report Profit and Loss Jun 09 Jul09 Aug09 Sep 09 Oct 09 Nov09 Dec09 Jant0 Febt0 Mar10 Apr10 May10 Jun 10 JultO Augo Sept0 Actual Actual Current Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Sales 0754978 1176468 1208062 1244304 1281633 1320082 1359684 1400475 1442489 1485764 1530397 1576247 1623534 1672240 1722408 1774080 Cost of Sales 411189 826 772 40269 41 477 42 721 44 009 145 923 46 592 48 083 43525 51 01 52 542 64 118 55 741 57419 59 136 GROSS PROFT 1343 789 849696 WR 1202827 1238912 1276079 13362 135792 1394408 1406238 1479326 1523705 1569416 1616499 1564394 171944 Staff Costs 73 730 69 930 118 779 13 342 19823 20 520 21138 21770 22428 anat 23789 24502 25238 25995 28778 27578 Indirect Overheads 198 065 16945 235417 87 380 96 668 99568 102555 105692 106800 N2065 N5426 M8889 122456 126100 129919 asn EBITDA 1131994 61
30. on Create Forecast View Outputs Tools licencing dae FAAEE A A BOE amp ROTA 3 41 Er A tn md A 3 Pla a HEL Az L sa ls B TS ame AA AB Ac AD AE AF AG TT a Te cd AK AL AM 1 _ Cashflow Inflows amp Outflows 20 000 000 7 45 000 000 h ae 10 000 000 4 5 000 000 0 v 7 S Q 6 000 008 L Na Dai e NetCash Flow Total Cash Closing Balance Cash Balance Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 Apr 10 May 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 Current Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Opening Cash on Depost AOR SNS AUNE WORN SIAN TI ON H E EANA A LESS Opening Overdraft O nanga 1720264 1155 872 304 827 0 0 o 0 Eo ow A or OPENING NET CASH BALANCE 5 902 819 3 962 564 4 057 093 4 621 505 5 472 549 6 188 025 7 410 535 8 518 576 9 478 197 10 899 183 12 264 020 18 171 693 14 731 022 16 235 190 17 219 019 Net Cashflow from below 1 940 256 94 529 564 412 851 044 715476 1 222 511 1 208 041 859 611 1420 996 1 364 837 907 673 1 559 329 1 504 169 983 829 2 621 812 Total Cash Closing Balance 3 962 564 4 057 093 4 621 505 5 472 549 6 188 025 7 410 535 8 618 576 9 478 187 10 899 183 12 264 020 13 171 693 14 731 022 16 235 190 17 219 019 14 597 206 Net Cash Flow Summary Aug 09 Nov 09 Feb 10 Mar 10 Apr 10 May 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 JAMES F 26 Example of checksums repor
31. orecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast H 59 0 o o 0 0 0 0 o o 0 0 0 0 0 o dA Mm Fdr His M Cin Fos Gin Prf_ Bus Drv_ Cot Fes Cot Prf Bas Aut Bas Man Fas Opb Fas Ass Dsp Ready CI p _ i OY stan y Computer B Microsoft E 21 Es Home Insert Page Layout Formulas Example showing a costs data entry page on the master spreadsheet FD4CAST EVALUATION Microsoft Excel View Developer Addins FD4Cast AFETE ZA Configure Change Checksums Historical Forecast Forecast Balance Capex Stock Finance TAXand Standard Custom Board Variance Scenario Audit Licencing Data Income Costs Sheet gt VATY Reports Reports Pack Analysis Planning Model Period Function Create Forecast View Outputs Tools licencing gt L gt Ad _ E Al R s T TR Tm T x Y z AA AB AC AD AE AF AG Costs Forecast Revenue as s Entered amp Recogni ised in Accounts Janos Feb09 Mar09 Apr 9 May09 Jum09 Jul09 Aug09 Sep09 Oct08 NOVOS Dec09 Janio Febi0 Marto Apr10 As brought forward from the Revenue s Current Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Other J 0 0 o 0 o 0 0 0 0 0 0 0 0 0 0 o B Total Revenue 0 0 0 0 o 0 0 0 0
32. ory but varying with time v A different growth rate for each category but each one constant with time vi A different growth rate for each period and sales Can the word used to refer to sales lines be defined Can a separate line for gross profit be included Can gross profit be forecast 1 Separately for each sales category ii As an average for the whole business 111 Not shown as the business does not recognise cost of sales as distinct from other operating expenditure Is there an ability to forecast operating expenses by category Can future total operating expenses be estimated by entering 1 A constant growth rate 11 Different growth rates for each period 111 Known values Can the number of operating expense categories be defined Supplier Response User selects Yes Yes Yes Yes Yes Yes Yes but each name must be unique Included as standard but can be hidden if required using customisation Not as standard but can be customised Yes Can be hidden if required using customisation Yes Yes Yes Yes Yes comes with 2 set up but unlimited number available Evaluator s Comment Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Functional requirements questionnaire Product FD4CAST Version 1 0 Evaluato
33. r s Comment Question Supplier Response 18 19 20 21 22 22 23 Can future operating expenses be projected by entering i A single constant growth rate for all expense categories 11 Known values 111 Same growth rate for each expense category but varying with time iv Different growth rates for each expense category each one constant with time v Different growth rates for each period and expense category ha Can depreciation figures be separated from operating expenses Can charts be produced illustrating sales gross margin and EBIT Can a full analysis of capital expenditure fixed assets and depreciation be included Can the number of fixed asset categories be specified Can capital expenditure be forecast by i Keeping future capital expenditure as the same percentage of sales as it was previously 11 Starting with the same of sales as previously but can be overtyped 111 Entering known values Can depreciation be forecast by i Calculating from capital expenditure and opening fixed assets 11 By entering known values Yes Yes Yes Yes Yes Yes Yes Yes Yes comes with 2 set up but unlimited number available Yes Yes Yes Yes Yes Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Confirmed Functional requirements questio
34. s registered in the UK The company was formed in 2009 and the product developed by James Power and Mark Turnham James Power has a long established career as an investment banker a freelance business planning and capital raising services and as a freelance consultant for SMEs Mark Turnham is a long standing IT programmer and developed in Excel VBA and is now a freelance VBA programmer developer 3 3 3 4 3 5 3 6 3 7 Product background and Suitability for user Financial models can be created that include all required forecasting elements from a sales forecast operating expense budget working capital modelling capital expenditure and depreciation analysis through to loans leases trade debtor financing etc all being summarised in traditional cash flow analysis profit and loss and balance sheet format The product is aimed typically at managers or accountants in businesses who have Excel knowledge and experience of business planning Typical implementation An IBM PC compatible with a high speed processor running Microsoft Excel 2007 Target market Financial Directors and their teams Business Planners Budget Planners and Holders Financial Managers Investment Appraisals Corporate Financiers Software and hardware specifications 3 6 1 Hardware and software IBM PC compatible with 2GB RAM and high speed processor Microsoft Excel 2007 or above with XLSafe PRO add in installed 3 6 2 Support and maintenance
35. siness environment to create a financial picture of the business It has been competently written and is supported by FD4Cast Ltd The ease of configuring the models gives flexibility and accuracy with a facility to print complete financial forecasts as required In terms of the functionality that is present in the current version and the target market for this product the product has been adequately specified It is easy to use and very flexible in its approach in creating Financial Forecasting Excel spreadsheets and gives users the ability to be able to add to or modify the model themselves using normal Excel commands whilst maintaining the integrity of the core solution Disclaimer Any organisation considering the purchase or use of FD4Cast version 1 0 should consider their requirements in the light of proposals made by FD4Cast Ltd and potential suppliers of other similarly specified products Whilst the contents of this document are presented in good faith ICAEW cannot accept liability for actions taken as a result of comments made herein 1O Functional requirements questionnaire Product FD4CAST Version 1 0 Question Modelling Features Can the number of actual periods be specified Can this number be later changed in the model Can the number of forecast periods be specified Can this number be later changed in the model Can the length of periods be specified as 1 Monthly 11 Quarterly 111 Half yearly iv
36. t 12 Computers 153 711 122 969 32 227 61485 30 742 0 0 0 o o o 0 0 o o 0 3 Fixtures amp Fittings 81 766 78 621 75476 ran 69 186 66 041 62 897 59 752 56 607 53 462 50 317 RIAL 44 028 40 883 37738 34 593 4 Office Equipment 21580 17 384 14 387 10 730 7193 3597 o o o o o o 0 0 o n 15 Tangible Assets Other o 0 o 0 0 o 0 o 0 o o o o 0 o o 18 TOTAL FIXED ASSETS 257 057 219 573 182 030 144 606 107 122 69 638 62 897 59 752 56 607 53 462 50 317 1702 44 028 40 883 37 738 34 593 19 20 Debtors General 0 0 0 o o o 0 0 o o o o 0 0 o 0 21 Debtors London 517 500 879 750 1 082 093 1 212 880 1 295 842 1 368 459 1423426 1 470 563 1 517 157 1 563 846 161 283 1 859 752 1 709 544 1 760 831 1 813 656 1 868 065 2 Debtors Manchester 465 750 791 775 973 883 1 091 592 1 166 258 1231613 1 281 083 1 323 506 1 365 442 1 407 461 1 450 155 1 493 777 1 538 590 1 584 748 1 632 290 1 681 259 23 Debtors Bristol 349 313 593 831 730412 818 694 874 693 923 710 960 812 992 630 1024 081 1 055 596 1 087 616 1 120 332 1 153 942 1 188 561 1224218 1260 944 24 Debtors Birmingham 48 904 83136 102 258 114 617 122 457 129 319 134 514 138 968 143 371 147 783 152 266 156 847 161 552 166 399 171 390 176 532 25 Debtors Liverpool 6 847 1 639 14 316 16 046 7 44 18 105 18 832 19456 20 072 20 630 21317 21 959 22817 23 296 23 995 24 715 26 Debtors Newcastle 959 1629 2 004 2246 2 400 2535 2 636 2 724 2 810 2897 2 304 3 074 3 166 3261 3 359 3 460 27 Debtors Other o o o o o o o 0 0 o o 0 n 28
37. t that will highlight any data entry errors APPENDIX F E FDACAST EVALUATION Microsoft Excel a Home Inset Pagelayout Formulas Review Developer Add Ins f FD4Cast DIA Ade ko 43 4 A Historical Forecast Forecast Balance Capex Finance TAX and Standard Custom Board Variance Scenario Configure Change Checksums Audit Licencing Data Income Costs Sheet gt VAT Reports Pack Analysis Planning Model Period Function Create Forecast View Outputs Tools licencing HAO EE a ae ay anga fg Ble amp O ACA A doa Ao AMES E A2 ar PA NU UN FA PI Y A iad a u D 1 _Checksums Report E a Summary 5 Pe TR Sheets E Data e Reports 5 10 Sheets Checksums Sheet Error Check for Bas Aut Sheet Error Check for Bas Man Sheet Error Check for Bas Nam Sheet Error Check for Bas Obs Sheet Error Check for Brd Act Sheet Error Check for Brd Bsh Sheet Error Check for Brd Ccf Sheet Error Check for Brd Cpl Sheet Error Check for Brd Fcs Sheet Error Check for Brd Sns Sheet Error Check for Brd Sum Sheet Error Check for Bsh Det Sheet Error Check for Bus Drv Sheet Error Check for Cin Fcs Sheet Error Check for Cin Nam Sheet Error Check for Cin Prf Sheet Error Check for Cot Fes Sheet Error Check for Cot Nam Sheet Error Check for Cot Prf Sheet Error Check for Fas Ass Sheet Error Check for Fas Dsp Var Pal Var Bsh_
38. w data through formulae links from the standard reports In addition this feature simultaneously provides the opportunity for adding additional business drivers or analysis sheets which can be edited by the user in Excel in the usual way Unlike spreadsheets that the users themselves construct the models produced by FD4CAST are built using VBA and are guaranteed by FD4CAST Ltd to adhere to the business modelling definition Hundreds of checksums are included into every model giving the user confidence that the formulae are adding up correctly at all times From the point of view of the user the systems take only a fraction of the time to build compared with building models by hand which means less time spent in getting the formulae and layout correct and more time to help the user make use of the system in actually modelling the business See Appendix B for a full list of the possible reports In addition the following features are also provided 1 A Checksum Section which checks that the logic of the balance sheet is correct particularly when the user has made modifications to the model generated See appendix E Ze The ability to set and instantly change the length of forecast outlook from a minimum of 2 years monthly outlook up to a maximum of 10 years forecast outlook 3 An Audit Trace Function which allow the user to select data rows on the Standard Output reports and to work back through the model to audit how input figures
39. y E FD4CAST EVALUATION Microsoft Excel Home Inset Pagelayout Formulas Data Review View Developer Add ins FD4Cast O 5x G an DABA PAR DA 4 Historical Forecast Forecast Balance Capex Stock Finance TAX and Standard Custom Board Variance Scenario gure Change Checksums Audit Licencing Data Income Costs Sheet S ia VAT Reports Reports Pack Analysis Planning Create Forecast Names Import NEWCO Historic Actuals Oct 08 Forecast hem Group Actual Actual 7 Sales 1 categories Other Income 1 categories C cos 1 categories stock 1 categories Tangible Assets 1 categories Direct Overhead 1 categories Cash Deposits 1 categories Salary 1 categories T Oth Curr Assets 1 categories Non Salary 1 categories T Oth Curr Liabs 1 categories OPEX 1 categories T Oth Long Liabs 1 categories Other Costs 1 categories Loans 1 categories Leases 1 categories 24 APPENDIX E Example of profit and loss summary report REPORTS FOR JOHN Microsoft Excel TS E Home Insert Pagelayout Formulas Data Review View Developer Add Ins J ox DITA Sane 1 oe A Historical Forecast Forecast Balance Capex Stock Finance TAXand Standard Custom Board Variance Scenario Configure Change Checksums Audit Licencing Data Inc
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