Automating Financial Statements

Level: Intermediate

Available Durations:

  • 90 minutes
  • 100 minutes
  • 120 minutes
This topic is best presented in 90 minutes or more.

Description:

In this session, Excel expert David Ringstrom, CPA, shows you step-by-step how to create dynamic accounting reports for any month of the year on just one worksheet. While Excel users often build worksheets for each month of the year, such worksheets can be cumbersome to revise. As an alternative, David explains how to use Excel functions, including VLOOKUP, OFFSET, and SUM, to quickly create accounting reports that allow you to switch to any reporting period with only two mouse clicks. He also outlines how to export data from your accounting package, improve the integrity of your spreadsheets, incorporate Check Figures and Alarms into you work, and more.

David demonstrates every technique at least twice: first, on a PowerPoint slide with numbered steps, and second, in the Office 365 version of Excel. David draws your attention to any differences in the older versions of Excel (2019, 2016, 2013, and earlier) during the presentation as well as in his detailed handouts. David also provides an Excel workbook that includes most of the examples he uses during the webcast.

Office 365 is a subscription-based product that provides new-feature updates as often as monthly. Conversely, the perpetual licensed versions of Excel have feature sets that don’t change. Perpetual licensed versions have year numbers, such as Excel 2019, Excel 2016, and so on.

Topics/Areas Typically Covered:

  • Modifying queries that return data from other sources into an Excel worksheet.
  • Consolidating financial statement exports from two or more entities into a single list by way of a Union query within Microsoft Query.
  • Creating an in-cell list by way of Excel’s Data Validation feature.
  • Animating the extraction of data for a given month or year to date by way of the OFFSET function.
  • Discovering how to incorporate Check Figures and Alarms into your work.
  • Determining if your version of Excel 2016 and later is perpetually licensed or part of the Office 365 platform, which periodically adds new features to Excel.
  • Using the Query Wizard within Microsoft Query to choose the relevant columns from your accounting report export.
  • Adding a refinement to the SUMIFS function to allow the report to consolidate numbers or display departmental values.
  • Using the SUMIFS function to sum values for a single account or a range of account numbers.
  • Exploring the nuances of data exported from accounting programs, such as extraneous worksheets, blank columns, and extraneous rows.

Learning Objectives/Why You Should Attend:

  • Define how to create accounting reports for any month of the year on a single worksheet.
  • Apply Conditional Formatting to draw attention to reports that don’t balance to the source data.
  • State how to export data from an accounting package to create a “set-and-forget” link to accounting data in Excel.

Target Industries:

  • Accounting and Finance
  • Business
  • Excel Users
  • Consulting
  • IT
  • Auditing
  • Human Resources
  • Marketing
  • Sales
  • Government
  • Tax

Target Job Title:

  • Accountants
  • CPAs
  • CFOs
  • Controllers
  • Income Tax Preparers
  • Enrolled Agents
  • Financial Consultants
  • IT Professionals
  • Auditors
  • Human Resource Personnel
  • Bookkeepers
  • Excel Users
  • Marketers
  • Government Personnel

About the Instructor:

David H. Ringstrom, CPA, is an author and nationally recognized instructor who teaches scores of webinars each year. His Excel courses are based on over 25 years of consulting and teaching experience. David’s mantra is “Either you work Excel, or it works you,” so he focuses on what he sees users don’t, but should, know about Microsoft Excel. His goal is to empower you to use Excel more effectively. To learn more about David, you can view his LinkedIn profile and follow him on Facebook or Twitter (@excelwriter).

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