Easily Replace Selected Option from the 12 Month Income Statement

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How to Replace Selected Option from the 12 Month Income Statement

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In this video tutorial, Parker explains how to display the previous 12 months of data based on a single date selection in Power BI. Typically, selecting a date filters the graph to show only that date’s data, but Parker demonstrates a workaround. He shows how, for instance, selecting August 31, 2012, displays data from August 31, 2012, back to August 31, 2011. This dynamic feature allows the graph to adjust to different date selections, ensuring that it always represents the previous 12 months. If no date is selected, it defaults to the most recent month, January 31, 2014, showing data back to January 31, 2013. Parker highlights a useful trick to achieve this visualization.

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What is the difference between cash flow balance sheet and income statement?

Balance sheets show what a company owns and what it owes at a fixed point in time. Income statements show how much money a company made and spent over a period of time. Cash flow statements show the exchange of money between a company and the outside world also over a period of time.

How do you fill out a monthly income statement?

Steps to Prepare an Income Statement Choose Your Reporting Period. Your reporting period is the specific timeframe the income statement covers. Calculate Total Revenue. Calculate Cost of Goods Sold (COGS) Calculate Gross Profit. Calculate Operating Expenses. Calculate Income. Calculate Interest and Taxes. Calculate Net Income.

Does the statement of cash flows replace the income statement?

The cash flow statement cannot exist without the income statement, as it begins with the net income or loss derived from the income statement, and goes onto show how well a company manages its cash position.

Is statement of cash flows the same as income statement?

A cash flow statement sets out a businesss cash flows from its operating activities, its financing activities, and its investment activities. An income statement provides users with a businesss revenues and gains, as well as expenses and losses, over a specific period of time.

Which is more important income statement or cash flow statement?

Types of Financial Statements: Income Statement. Typically considered the most important of the financial statements, an income statement shows how much money a company made and spent over a specific period of time.

What is a 12-month income statement?

Trailing 12 months (TTM) is the term for the data from the past 12 consecutive months used for reporting financial figures. A companys trailing 12 months represents its financial performance for a 12-month period; it does not typically represent a fiscal-year ending period.

What are alternative terms for income statement?

The income statement is also known as a profit and loss statement, statement of operation, statement of financial result or income, or earnings statement.

Can cash flow statement be a substitute of income statement?

It can not be substituted for Income Statement because Income statement includes both cash as well as non-cash transaction (such as Depreciation) and gives the balancing figure as Net Profit or Net Loss, without which Cash Flow statement can not be prepared.

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Replace Selected Option from the 12 Month Income Statement