Understand the components and variations of a Financial Statement
Complete a Transactions page and Profit and Loss statement that summarizes monthly transactions.
Understand the components of a Balance Sheet.
By the end of this project, you will be able to complete a financial statement with Microsoft Excel, composed of a transactions page, profit and loss statement, and balance sheet. You will learn how to enter your business transactions and interpret the data presented in the profit and loss statement. You will also learn about the components of a balance sheet and will have a better understanding of how a financial statement can be used to help track and present financial information for your company.
In a video that plays in a split-screen with your work area, your instructor will walk you through these steps:
Log into Microsoft Excel Online and open a blank spreadsheet.
Identify the assumptions for the financial statement and create a Transactions page.
Create a Profit and Loss statement that summarizes monthly transactions.
Use the SUMIFS formula to populate the categories for the Profits and Loss with the transactions.
Understand the components of a Balance Sheet and complete the Assets section
Complete the Liabilities and Owner’s Equity sections of the Balance Sheet and perform a final balance check.
Your workspace is a cloud desktop right in your browser, no download required
In a split-screen video, your instructor guides you step-by-step
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