Corporate financial statements are an important source of accounting information, and they can be presented in Excel. Accounting statements can be historical or you can produce forecasts of accounting statements.
- [Instructor] In addition to the general ledger, … the other major task corporate accountants will often face … involves preparing financial statements for the firm. … Excel is great for this task because it can embed formulas … which will dynamically change the financial statements … if you end up correcting or adjusting any of the inputs. … Let me show you what I mean. … I'm in the 03_04_Begin Excel file. … Now, what we have here are basic pieces … of financial information that we've collected from the firm. … We've got our revenues over time. … We've got our COGS, SG&A Expenses, … all of the different costs that the company's … going to report to us. … What accountants will often have to do … is to take this mass of raw data … and put it into an intelligible and digestible format … for use by corporate decision-makers. … So how do we do that? … Well, to start with, we need to go through … and determine what our Total Operating Expenses are. … This is going to include COGS, SG&A Expenses, …
- List the most common tasks and approaches faced by accountants in their daily lives.
- Determine whether transactions can be exported from Quickbooks to Excel or not.
- Outline the structure that the SUMIF function uses.
- Explain how to measure EBITDA.
- Identify at what level the General Ledger tracks expenses.
- Break down how to construct a business valuation using a cash flow analysis.