Accounting Equation Using Excel-Analyzing Form Transactions

Accounting Equation Using Excel-Analyzing Form Transactions - Printable Version

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Accounting Equation Using Excel-Analyzing Form Transactions - AD-TEAM - 01-15-2025

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Accounting Equation Using Excel-Analyzing Form Transactions
Published 1/2025
MP4 | Video: h264, 1920x1080 | Audio: AAC, 44.1 KHz
Language: English | Size: 5.28 GB | Duration: 6h 27m

Breaking Down Transactions and Mastering the Accounting Equation with Practical Tools

[b]What you'll learn[/b]

xplain the purpose and function of key accounting forms such as bills, checks, and expense entries, and their impact on the accounting equation.

Break down financial transactions and evaluate their effects on subledgers, including Accounts Receivable, Accounts Payable, and Inventory.

Use Excel to replicate and record financial transactions in the accounting equation format.

Design Excel templates that simulate the functionality of accounting software for transaction recording and reporting.

Assess the accuracy of financial records by reconciling subledgers and identifying discrepancies in transaction flows.

Integrate knowledge of transaction impacts to produce comprehensive financial summaries and reports for decision-making.

Identify common financial forms and their corresponding roles in the accounting cycle.

[b]Requirements[/b]

Basic Understanding of Accounting Concepts: Familiarity with foundational accounting principles, such as the accounting equation (Assets = Liabilities + Equity), is recommended but not mandatory. Beginners are welcome, as foundational concepts will be reviewed.

Basic Excel Skills: Participants should have a working knowledge of Excel, including entering data, using basic formulas, and navigating spreadsheets. No advanced skills are required, as all Excel tools used will be taught during the course.

Access to a Computer: A computer with Microsoft Excel or a compatible spreadsheet application installed (such as Google Sheets) is required for hands-on exercises and practical applications.

Interest in Financial Processes: A desire to understand and analyze financial transactions and their impact on accounting records is essential for getting the most out of this course.

[b]Description[/b]

This comprehensive course dives into the fundamentals of the accounting cycle, with a specialized focus on the real-world application of financial forms and transactions often entered into accounting software like QuickBooks. Participants will explore the purpose and function of key forms such as bills, checks, and expense entries, dissecting how each affects the accounting equation and core subledgers, including Accounts Receivable, Accounts Payable, and Inventory.Through step-by-step instruction, learners will gain hands-on experience replicating and analyzing these transactions using Excel. You will learn how to post data in the accounting equation format, trace the flow of transactions through subledgers, and reconcile the effects on overall financial reporting. The course emphasizes not just the "how" but the "why," enabling participants to connect software automation to foundational accounting principles.Practical exercises include creating and customizing Excel templates to simulate key accounting processes, developing skills in error detection, automating routine calculations, and building summaries for management reporting. Whether you're a small business owner, an aspiring accountant, or a professional looking to sharpen your financial skills, this course equips you with the knowledge and tools to confidently navigate and analyze the accounting cycle.By the end of the course, participants will have the ability to independently manage transaction flows, understand their implications for financial reporting, and optimize their use of accounting software for accurate and efficient financial management.

Overview

Section 1: Setup Worksheet

Lecture 1 1025 Create Worksheet

Lecture 2 1028 Create Workseet Part 2

Section 2: Excel-Vendor Cycle, Purchases Cycle, or Accounts Payable Cycle Transactions

Lecture 3 1180 Bills Form

Lecture 4 1200 Pay Bills Form - Check

Lecture 5 1260 Check Form

Lecture 6 1280 Void Check Prior Period Adjustment

Section 3: Excel-Customer Cycle, Sales Cycle, or Accounts Receivable Cycle Transactions

Lecture 7 1340 Invoice Form

Lecture 8 1360 Receive Payment Form

Lecture 9 1380 Deposit Form

Lecture 10 1400 Sales Receipts Form

Lecture 11 1420 Credit Memo Form

Section 4: Excel-Employee Cycle - Payroll Cycle Transactions

Lecture 12 1520 Pay Employees Form

Small Business Owners: Entrepreneurs and small business owners who want to better understand their financial transactions and how they impact their accounting records.,Aspiring Accountants: Students and individuals starting their journey in accounting or finance, seeking practical, hands-on experience to complement theoretical learning.,Accounting Professionals: Entry-level accounting professionals looking to enhance their technical skills in transaction analysis, Excel-based reporting, and understanding software logic.,QuickBooks Users: Individuals using QuickBooks or similar accounting software who want to understand the mechanics behind automated processes and improve their efficiency.,Financial Managers and Analysts: Professionals responsible for preparing or analyzing financial reports who want to deepen their understanding of transaction flows and their impact on subledgers and financial statements.,Non-Financial Professionals: Individuals in roles such as office management, project coordination, or operations who interact with financial records and want to gain a better grasp of basic accounting processes.

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