Beginner: Financial Statements question
First and foremost thank you to anyone that can help me out a bit with the position I am in. I have been trying to brush up on my financial modelling / valuation to get a jump start on a summer internship. I went to my school library to pull some financials of a company off the Bloomberg. I made sure I selected as reported financial statements but when I download them to excel the line items Bloomberg gives me does not match the line items on the companies financial statements. For example Amortization will have 4 separate lines on the actual statements from the companies websites but only 1 line on the excel file Bloomberg gives me. This leaves me to attempt to reconcile how Bloomberg consolidates these line items year to year which is starting to get frustrating. Why doesn't Bloomberg give you an excel file exactly like the financial statements you download off the website. Do I need to input the line items manually?
I assume there must be some way around this considering the cost of a Bloomberg membership! Let me know If I am missing anything here or should be taking a different approach, thanks in advance.
This is fairly common. As I understand, whereas each company within an industry can provide varying degrees of granularity within its statements, Bloomberg attempts to compile them into a uniform template. Obviously the downside is you don't necessarily get the same level of detail when you export from Bloomberg, but you are more easily able to compare financial statements of multiple companies. In practice, the type of analysis you're conducting should determine which you use, ie do you get sufficient return on effort when you manually enter data into a model vs an excel dump. For your purposes, I'd think the Bloomberg data would be perfectly fine.
Does it make more sense for me to just input them manually from the company website. I've been trying to reconcile this Cashflow statement for days with no luck.
Sure. Or, don't bother reconciling the BB data with the company statements? I'm sure the BB data still arrives at the same Beginning/Ending cash balances, so the different nomenclature shouldn't matter all that much, no?
Fair enough, thank you for the insight. Any recommendations to improve consolidation of financial statements?
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