Finplan Frequently asked questions (FAQ)

General

Ibisco Finplan is financial software designed for a wide range of applications in the area of corporate finance. The main features of Finplan are: financial performance analysis, financial planning (budgeting), capital budgeting, corporate valuation and reporting.

Finplan users are financial professionals in companies, consultancies and financial institutions. For their decision making they need software, which is reliable, easy to use, covers a broad area of applications, needs a short period of time to be operational and can be connected to the existing operating financial software.

Consultants use Finplan to advise their clients on:
– Financial analysis, rating analysis, planning, controlling.
– Benchmarking.
– Financial restructuring.
– Capital budgeting.
– Analysis, valuation and simulation of potential acquisitions.

Companies use Finplan for:
– Financial analysis, planning, controlling, rating analysis, capital budgeting.
– Internal and external reporting.
– Analysis of business partners.
– Analysis and benchmarking of competitors.
– Analysis, valuation and simulation of potential acquisitions.

Financial institutions use Finplan for:
– Rating analysis of corporate customers.
– Corporate finance advisory work.
– Management of principal investments.
– Portfolio management.

Finplan is built in Microsoft® Excel and Microsoft® Visual Basic® for Applications. Finplan is cloud based. To use it, you just need Internet access and Username and Password.
FinCloud is Ibisco cloud software and FinDrive.
FinDrive is a cloud storage service based on Microsoft Azure cloud platform that lets you store and retrieve files in FinCloud.

To use it, you just need Internet access and Username and Password. The best Finplan user experience is using PC. You can use Finplan also on the tablets, but the user experience may be somewhat lower than on the PC. We strongly recommend that you try our products before you subscribe to them.

Ibisco offers you free of charge support for the following matters: problems with Ibisco cloud, problems with online purchases, questions about product defects. Support is offered in English language via email. For issues related to using Ibisco software you need to have a valid support plan.

Content

With Finplan, you get Finplan Users Manual in English language in PDF: on the Finplan Tools tab, click Finplan Users Manual.

Finplan2019is is based on International Financial Reporting Standards (IFRS). You can choose between two types of Income Statements where the operating expenses are split either by function or by type.

Financial tables in Finplan are divided into five sections: financial statements, financial analysis, planning, valuation, and currency rates.

Financial statements: Income statement, Balance Sheet, Cash Flow Statement, Statement of Changes in Equity.

Financial analysis: Financial Highlights, Selected Financial Data, Financial Ratios, Rating Analysis, Return on Invested Capital, Cost of capital, Additional Data.

Planning: Income Statement Forecast Variables, Balance Sheet Forecast Variables.

Valuation: Valuation Cash Flow, Valuation Data, DCF Valuation Summary, Valuation Summary.

Capital budgeting: Valuation Cash Flow, Data, Summary.

Currency rates: Currency and Inflation rates.

The following languages are available in Finplan: English, German, German (Switzerland), Italian, Russian.

Finplan offers extensive visual presentation of the financial tables in the form of predefined charts, custom charts, waterfall charts, and tree-charts.

With the custom charts, we can show any item or a combination of Finplan items. We can also save up to 20 trend charts for selected items.

Finplan offers various predefined chart groups with each having four charts.

The waterfall charts offer the easiest and quickest way to visualize the absolute and relative changes of the most important business items: Net profit, Operating profit, Total assets, and Total liabilities.

We can choose between different types of tree-charts: Du Pont, Economic profit, Rating analysis, DCF valuation.

We can select any combination of periods as long we have continuous periods from past to future. Possible periods range from 1 month, 2 months, quarter, 4, 5, 6, 7, 8, 9, 10, 11 months, and a year.

The business year-end can be set at the end of any given month.

The balance sheet and the income statement are interconnected when planning future performance of various items, such as depreciation and amortization – fixed assets, interest paid – borrowings, interest received – investments, etc.

Finplan offers two ways of balancing the balance sheet:
– With Short-term bank deposits on the assets side of the balance sheet.
– With Short-term bank borrowings on the liabilities side of the balance Sheet.

In Finplan, we can simultaneously work with six different projects (companies/scenarios). In addition, we can sum these projects together, calculate their average, or show the ratio of one project to another.

When you prepare business plan, perform company valuation or capital budgeting, or in other forecast activities, you ask yourself, what if this and this changes, how it is going to affect my forecast results. When you do your basic forecast scenario with Finplan, you can change forecast variables to produce different scenarios and save these scenarios under different names, for example Scenario 1, Scenario 2, etc.

To make your life with scenarios easier, Finplan includes separate module Sensitivity Analysis. It enables you to run sensitivity analysis of predefined independent variables on predefined dependent variables. You can run four scenarios at the time and analyse results in Predefined charts, Sensitivity Analysis or Sensitivity Analysis II. Note that Sensitivity Analysis can be used just for forecast time series.

Finplan enables us to use 14 different controlling columns: Change to previous period, Change year-on-year, % structure of financial statements, Actual/Plan, Cumulative data, Change of cumulative, etc. The variances can be presented either in percentage terms or as absolute values.
We can show five controlling columns at once.

We can convert the figures from the base currency to other currencies based on the rates which we enter in the Currency and Inflation Rates table. We can define separate rates for the income Statement conversion and separate rates for the balance sheet conversion. We can also change the base currency.

We can have the figures in actual units, in thousands or in millions of the selected currency.

Finplan includes the Rating Analysis table and a corresponding tree-chart. The idea here is to establish a company’s rating using quantitative analysis for historic and future periods. It is especially interesting to observe how the rating changes under different future scenarios. The rating is based on six predefined financial ratios, which are calculated for each period separately. Based on the value of the ratio, its rating is calculated on the scale from one to five.

Capital budgeting in Finplan is based on discounting of future cash flows that a project is expected to generate. It contains three main elements:
– Forecasting future performance through financial statements for each forecast period separately. This is the so-called explicit part of valuation.
– Determining the salvage value of the project at the end of the last forecast period (end of the project).
– Estimating the cost of capital (WACC), used for discounting future cash flows to present value.

The results of the capital budgeting analysis are: Project net present value, Cumulative free cash flow, Discounted cumulative free cash flow. Internal rate of return (IRR), Modified internal rate of return (MIRR), Payback period and Discounted payback period.

In Finplan, company valuation is based on two different methods. The first method is discounting of free cash flows (DCF), which a company or a project is expected to generate in the future. The second method is Valuation by multiples where we can value the company according to the peer group or other valuation multiples: P/book, P/E, EV/EBITDA, and EV/Sales.

The DCF Valuation contains three main elements:
– Forecasting future performance through financial statements for each forecast period separately. This is the so-called explicit part of valuation.
– Determining the continuing value which represents the value beyond the explicit part of forecast.
– Estimating the cost of capital, used for discounting future cash flows to present value.

Implementation of a data transfer from general ledgers or other external databases to Finplan can be accomplished quite quickly, usually within an hour. We can produce an unlimited number of data transfer links to different databases in different currencies. We can import actual as well as plan data.

The first step in connecting Finplan to the external data sources is to export the data from the external databases to the prescribed format in the Microsoft Excel data file. This file includes two sets of data for each period: account numbers and balances on these accounts. The second step is allocation of the accounts from the data file to the corresponding Finplan items in the so-called Link Table in Finplan. To import the data, we just select the data file, which we want to import.

Finplan has a very powerful and easy to use report engine. We can prepare reports in Microsoft® Word or in Microsoft® PowerPoint®. The report content can be customised to include any combination and order of the tables and the charts that we choose to have. The reports are nicely organised, with all the tables of the same width, and with automatic page breaks. In addition to reporting in Microsoft Word and Microsoft PowerPoint, we can also export the data to Microsoft® Excel.

Finplan includes three tables called Additional data, where each of the tables has 200 empty rows and are used for developing our own models, including formulas, number formats and other settings. In other tables, we can rename most of the items and customise their formulas. We can link different tables with formulas where it is reasonable to do so. We can also rename the tables’ titles.

Finplan has various predefined table styles. In addition, Finplan enables customised settings of colours, fonts, font sizes, column widths, and row heights.

We can add comments to each Finplan item. The item that is commented has a star (*) sign on the left side in front of its name. If we choose so, we can include the comments in the Microsoft Word and Microsoft PowerPoint reports.

Cloud

Finplan works on Microsoft Azure cloud platform.

FinCloud is Ibisco cloud software and FinDrive. FinDrive is a cloud storage service based on Microsoft Azure cloud platform that lets you store and retrieve files in FinCloud.

Finplan files (Finplan projects, Word and PowerPoint reports, Excel files, PDF files) are saved in cloud disc P:(FinDrive), which is available only over the Internet.

FinDrive enables file management in cloud disc P:(FinDrive) end file exchange of P:(FinDrive) with local disc.

Go to www.ibisco.com/finplan-support, fill out Get support form, and we will send you new Username and Password.

Get support

Ibisco offers you free of charge support for the following matters: problems with Ibisco cloud, problems with online purchases, questions about product defects. Support is offered in English language via email. For issues related to using Ibisco software you need to have a valid support plan.

Please fill out the form below and we will contact you shortly:

Support plan:
– Offered via email
– English language only
– Response time: 2 business days
– Monday – Friday 09:00 – 16:00 CET

Please pay attention to the following points:
– Before starting the trial version of Ibisco software, we strongly recommend you to read the Startup steps.
– Finplan includes Users Manual in PDF in English language: on the Finplan Tools tab, click Finplan Users Manual.