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Here's an easy way to compare your company's growth year-on-year

by , 20 August 2014
Financial analysis is the best way to evaluate your company's growth year after year. But how do you do this and compare your company's year-on-year growth to ensure you get all the right information.

A tip to doing this, is to create a visual representation of your finances so you can actually see the changes in your financial position.

And you don't even need to use any kind of complicated programmes to do this. If you've already gone digital with your company's accounting, then you already have access to the easiest way to compare its growth year-on-year...

 

Use this tool to easily compare your company's financial growth

 
The best tool when it comes to financial analysis to compare your company's year-on-year growth is Microsoft Excel.
 
Excel gives you the ability to create charts and graphs. These enable you to easily compare this year's growth and compare it with last year's. 
 
So what are the big benefits of using Excel charts to do your financial analysis?
 
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These are the two big benefits of using Excel to do your financial analysis

 
Benefit #1: With Excel charts, you can gain insights into trends and variances in the data. You can do this much quicker than if you only look at the figures. You may understand the figures, but a chart will show you the relative movements between amounts more succinctly and in a shorter space of time.
 
Benefit #2: It highlights trends the human eye couldn't detect by looking at figures alone. This could be seasonal trends when you compare the current year's sales with the previous years'. Charts also immediately draw your attention to items that don't conform to standards. An example of this could be a huge difference in production efficiency when certain supervisors are on duty.
 
So switch to Excel today and make it easier to compare your company's year-on-year growth every time. 
 


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