Mastering Excel: Optimizing Financial Statements
October 19, 2020 - CA USCompliance4All
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Overview: This webcast presented by Excel expert David H. Ringstrom, CPA, teaches you how to create dynamic financial statements for any month of the year on a single worksheet. Excel users often build worksheets for each month of the year, which end up being cumbersome to revise. As an alternative, David shows you how to use Excel functions-including VLOOKUP, OFFSET, and SUMIF-to quickly create financial statements that allow you to toggle to any reporting period with only a couple of mouse clicks. He also demonstrates effective ways you can export data from your accounting package, thereby allowing you to create a "set-and-forget" link to your Excel data. David demonstrates every technique at least twice: first, on a PowerPoint slide with numbered steps, and second, in the subscription-based Microsoft 365 version of Excel (formerly known as Office 365). 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. Microsoft 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. Areas Covered in the Session: Creating an in-cell list by way of Excel's Data Validation feature Consolidating financial statement exports from two or more entities into a single list by way of a Union query within Microsoft Query Consolidating financial statement exports from two or more entities into a single list by way of a Union query within Microsoft Query Creating self-updating financial spreadsheets by using PowerQuery/Get & Transform in Excel 2010 and later to pull data via automated queries that also overcome common issues in exported reports Consolidating financial statement exports from two or more entities into a single list by way of a Union query within Microsoft Query Using the SUMIFS function to sum values for a single account or a range of account numbers Creating self-updating financial spreadsheets by using PowerQuery/Get & Transform in Excel 2010 and later to pull data via automated queries that also overcome common issues in exported reports Automating the extraction of data for a given month or year to date by way of the OFFSET function Creating self-updating financial spreadsheets by using PowerQuery/Get & Transform in Excel 2010 and later to pull data via automated queries that also overcome common issues in exported reports Automating the extraction of data for a given month or year to date by way of the OFFSET function Creating self-updating financial spreadsheets by using PowerQuery/Get & Transform in Excel 2010 and later to pull data via automated queries that also overcome common issues in exported reports Creating an in-cell list by way of Excel's Data Validation feature Learning Objectives: Define how to create accounting reports for any month of the year on a single worksheet Apply a variety of Excel functions focused on helping you use Excel far more effectively State how to export data from an accounting package to create a “set-and-forget” link to accounting data in Excel Who Will Benefit: Practitioners who may benefit from learning how to create monthly financial statements in Excel more effectively