Multi-Year Financial Statements

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Prerequisites

Prior to reading the instructions on the Multi-Year Financial Statements Report, it is beneficial to review the following sections of the IU Accounting Standards Book to gain foundational information along with report requirements and best practices:

  1. Accounting Fundamentals Section
  2. Chart of Accounts and General Ledger Section
  3. Financial Statements Section

Overview

The Multi-Year Financial Statements Report was designed to help users obtain quick and easy access to historical financial statement information. Financial statements are formal records of financial activities and the overall financial position of an entity. The Multi-Year Financial Statements Report provides users the ability to summarize and compare income statement and balance sheet balances over multiple years. This will enable users to easily analyze trends and make better-informed decisions. The multi-year income statement may also be useful to view trends in individual object codes prior to budget construction. The Multi-Year Financial Statements Report is utilized for executive and individual-unit management financial statement decision-making. To review the fiscal officer standards related to the financial statements, see the Financial Statements Accounting Standards noted in the prerequisite section.

How the Multi-Year Financial Statements Report Works

The Multi-Year Financial Statements Report is used to summarize and compare income statement and balance sheet balances over 3, 5, or 6 years + CAGR. The Compound Annual Growth Rate (CAGR) is calculated when the report is run for 6 years and provides the user with the average returns earned by a fund annually for the preceding 5 years. Users have the option to view only the income statement, balance sheet, or both.


Running the Report

Define the search parameters to return results relevant to your organization or to a specific account. Users are able to pull individual statements by selecting only the parameters related to the statement but are encouraged to run both statements simultaneously.
The search parameters available in the Multi-Year Financial Statements Report are divided into three parameter types: chart of account report parameters, report specific parameters and display parameters.

If there are questions related to running the report, requirements, or reviewing results, please contact your (RC) fiscal officer or campus office. Each campus may have individual specific requirements related to the Multi-Year Financial Statements Report; be sure to reach out to the related campus office or fiscal officer prior to quarter-closings.

General Notes: Do not include any special characters other than approved wildcards in any of the below parameters. Additionally, do not run reports by campus as it will take up valuable computing services.

Click Save Parameter Settings to save your parameters for future use of this report. For instructions on how to save settings, review the Save Parameter Settings document on the Controller's Office Reporting Tools page.