Power BI for Financial Analytics — Lesson 1: Financial Data Preparation and Modeling

Lesson Overview

This lesson develops practical understanding of Financial Data Preparation and Modeling within the Power BI for Financial Analytics learning path.

Learners connect the key concepts to a realistic financial reporting, modeling, and analytics with Power BI scenario and document the decisions, evidence, risks, and improvement opportunities identified during the activity.

Learning Objectives

• Explain the purpose and role of financial data preparation and modeling.
• Apply the lesson concepts to a practical financial reporting, modeling, and analytics with Power BI requirement.
• Recognize security, governance, operational, and quality considerations.
• Validate the result and recommend appropriate next steps.

Topics Covered

• chart-of-accounts structures
• ledger and budget data
• calendar and fiscal models
• data reconciliation

Hands-On Activity

1. Review the scenario, stakeholders, current process, requirements, and expected outcome.
2. Prepare the required Microsoft environment, design, query, report, script, or configuration.
3. Complete the guided implementation and record important decisions and dependencies.
4. Test the outcome using functional, security, data-quality, and operational checks.
5. Document issues, corrective actions, evidence, and an improvement recommendation.

Validation Checklist

• The solution or analysis matches the documented requirement.
• Configuration, calculations, queries, scripts, or workflows produce the expected result.
• Security, access, governance, data quality, and operational impacts are reviewed.
• Errors and limitations are documented with clear corrective actions.
• The final output includes reusable notes and practical next steps.

Lesson Outcome

After completing this lesson, learners can explain, apply, and validate financial data preparation and modeling in a realistic workplace scenario.