I’ve decided to write this article to help you decide if you should download a simple financial statement template. You will find many sites that provide free samples, but I decided to go ahead and share with you the details of my own experience.
Many of the sites that are selling financial statement templates do so by displaying an online “Example” of what it can look like. With this in mind, I tried to download one of these templates. After installing it, I noticed that there was some formatting issues.
It looked like the words on the page were not aligned properly or had some minor details mis-spelled. It made the presentation of financial data too complicated for me to understand.
The actual financial statements for most simple financial statement templates are only meant to show simple trends. They use simple numbers and lines to show the patterns and increases or decreases in income. This was ok for me, as long as the statement template was not intended to be used as a core financial analysis tool.
I therefore decided to download a second financial statement template. This one was supposed to be a more thorough financial analysis tool. It took a few hours to install the whole thing, but I finally ended up with a complete report.
One thing I didn’t realize at first is that the same basic elements appeared in the two templates. The main difference between the two was the way the line graphs and box plots were formatted. The first one was more of a spreadsheet format, while the second one was more of a line graph format.
While the difference was very subtle, I decided to download the second financial statement template. Again, I found that the lines were not aligned correctly, the numbers were missing something, and the graphic details were slightly mis-spelled.
Overall, I would say that the differences between the two financial statement templates was marginal and only small. There are also quite a number of free financial statement templates available on the internet.