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Checklist: Disclosure Studio - Finalize MD&A (Management Discussion and Analysis) in your ACFR Report

Before You Begin... 

Ensure all lines are captured for statement preparation

  • Open MDFM → Admin → Dimensions → MD&A.
  • Assess whether new line items are required and, if so, add them to the MDFM dimensions.
  • Copy any formulas from previous lines for any new lines added. 
  • Perform a final check to avoid errors and enter rounding entries, if needed. 
    • Note: Rounding Entries can not be done on the top of formulas. To avoid any reconciliation errors, please complete all rounding entries in the Government Wide Statements

4 Steps to Finalizing the MD&A in your ACFR Report

Step 1: Import MD&A Statements

The backbone of the MD&A is the statements. These statements will be created in the MDFM as tables that you can import into your ACFR.

To import your MD&A Statements: 

  1. Navigate to your MD&A
  2. Click on the blue plus sign and select Table.
  3. Select MDFM
  4. Find your MD&A Statement and import that the Net Position table. 
  5. Format your table using the formatting options in the table block. 
  6. Repeat steps 1-5 for the Change in Net Position table. 

 Resources: 

Step 2: Write the Text

After importing your tables, you will want to write your narrative for the MD&A statements. This can copied and pasted from your previous ACFR into Disclosure Studio. Or you can insert text blocks to start from scratch. 

If you have never completed a MD&A before, you can review GASB 103's requirements for the MD&A. 

Resources: 

Step 3: Add Report Variables and Linked Numbers

To save you time, you can insert Report Variables into your MD&A to automate all dates. To do so: 

  1. Click where you want the report variable to go. 
  2. Click Insert Variable from the toolbar and select Report Variable.
  3. Select the current fiscal year and click OK.

These steps can be repeated for all prior and future fiscal years as applicable. 

Pro-tip: You can use the keyboard shortcuts CRTL-C and CRTL-V on Windows to copy and paste the report variables anywhere in the report. Doing this will save you time. 

After you have automated all fiscal year dates, you can begin to automate the financials that appear in the narrative. Instead of having to manually type your change in net position from year to year, you can insert a linked number once, and it will be automated into perpetuity. This linked number will roll forward from year to year. To add a linked number: 

  1. Place your mouse cursor where you want the linked number to go. 
  2. Click Insert Variable from the toolbar and select Number.
  3. Select the applicable statement and table view. (We recommend utilizing the Government wide statements)
  4. Select the number you want to link, and click next. 
  5. Format the number as you see fit and then select OK to place your variable. 

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Step 4: Add MDFM Expressions

If there any calculated lines you present, such as Capital Assets, you can automate this using the MDFM Expression functionality. 

Follow this guide to learn how to utilize the MDFM Expressions

 

Resources: 

Step 5: Add Notes

Once you have completed automating your fiscal years, linked numbers, and automated calculations, we can add the finishing touches by automating your note numbering. When creating the ACFR, you will utilize Note sections so that we can automate the note number synchronization from the very inception of your reporting process. 

To link a note number:

  1. Find the applicable note, and click on the three dots. 
  2. Select Link. 
  3. Navigate back to the MD&A, and select where you want your note number to go. 
  4. Type "Note" and click "Select Variable". 
  5. Select Note Variable from the list. 

Resources: 

Need Additional Resources?

Feel free to search our Support Center or review resources on this specific module: Disclosure Studio



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