The Income Statement Analysis Skill conducts a comprehensive financial analysis, assessing profitability and guiding revenue strategies and cost optimization. Using any uniform income statement format, AI Skills is able to summarize a report on how the community has performed overall and across time periods, trends in revenues and expenses, and identify outliers. Additionally, based on the community financial performance findings, AI Skills may suggest helpful insights for improvement opportunities.
To use this Skill, you must have a income statement file for a current senior housing community available to upload to the Skills module. The file must be uniform with headers above all fields of data. To run this Skill:
Click "Continue" to acknowledge that you understand the upload requirements of the Skill.
Enter the community name.
Enter the number and type of units at the community. You can enter this information in any format.
Enter any applicable information about the occupancy at the community during the time period of the income statement. This can be in any format.
Lastly, enter any applicable information about items you would like to explain or ignore in the income statement. Examples include yearly bonuses, one-time expenses, etc. This can be in any format.
Upload the rent roll file. Click "Continue."
Choose the singular worksheet from the drop-down that you would like to analyze.
Click "Launch Financial Wizard."
Financial Wizard
The Financial Wizard allows AI Skills to ingest any format of income statement. Through this interactive wizard, you can select which fields in your uploaded file belong to which income statement category.
Begin by selecting your operating revenues total. Simply click into the total row to identify which field should be considered your total for operating revenues. This will highlight the row dark yellow.
To move forward, click the "Continue" button or click the light yellow, running total box for operating revenues at the top of the wizard. Next, highlight all fields that make up the total operating revenues. Clicking into a row again will un-highlight that row. When you have completed identifying the total and running operating revenues, the totals for "running" and "total" should equal one another.
Click "Continue" to move on to the blue operating expenses category. Repeat the identification process with your total (dark blue) category and your running (light blue) categories. Once highlighted, these categories, found in the blue box at the top of the wizard should equal one another.
Click "Continue" to advance to the NOI section (green). The running total (light green) will auto-populate based the difference between the operating revenue and operating expenses. Select the NOI total from your given fields (dark green). These categories should equal one another.
Repeat the process for the other revenue (red) and other expenses (orange) categories, if applicable. These categories are optional.
Once satisfied with your selections, click "Finish" to close the Financial Wizard. Click "Continue" for the skill to begin processing.
The analysis of your income statement will likely take several minutes. You can navigate away from the page while AI Skills analyzes your income statement. To download the output to a word document, select the "Download" button at the top or bottom of the output.
PLEASE NOTE: This content has been generated by NIC MAP Vision's Automations Platform and is only intended to be a first draft. It must be reviewed by a trained professional to ensure accuracy and compliance with all applicable laws and regulations.