Forum Discussion
Income Statement in Financial Reporting Format
Sorry, instead of
"...but it shows revenue/gross profit as positive numbers and COGs/expenses as positive numbers..."
I meant to say:
"...but it shows revenue/gross profit as positive numbers and COGs/expenses as NEGATIVE numbers..."
REVISED:
Hi,
After reviewing the always-helpful Q&A on this community board, I found the 'cascading subtotals' link (see below) and was able to successfully generate an income statement with gross profit, the correct net income, etc. but it shows revenue/gross profit as positive numbers and COGs/expenses as negative numbers. However, all income statements that I've seen / generated have had positive numbers throughout the statement (positive #s for revenue, positive #s for COGS/expenses, etc with the subtotal / totals adjusted to generate the correct profit). How do you correctly aggregate/calculate general ledger data from the data warehouse and then flip the signs for ONLY COGs/expenses (which are negative in the data warehouse) in order to generate a 'financial reporting formatted' income statement?
http://www.powerpivotpro.com/2011/09/profit-lossthe-art-of-the-cascading-subtotal/
Thank you in advance.
Could you add another column to your data to indicate that the account be multiplied by -1?
Or maybe you could create new table with the natural accounts in it and a multiplier field or either 1 or -1. Recent versions of PowerBI allows for you to create a new table that you can use it the data model. Then write a measure using DAX to multiple the transactions by the multiplier.