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This course will focus on period-end adjusting entries, entries needed to report financial statements accurately on an accrual basis.
Learners will know how to navigate Microsoft Excel and use a well-designed accounting worksheet, complete with a general journal, trial balance, general ledger, subsidiary ledgers for accounts receivable, accounts payable, & inventory, financial statements, and much more.
Excel is an excellent tool to learn accounting because it is much more transparent than a database program, like accounting software. QuickBooks is a typical example of accounting software.
For most new steps in our accounting practice problem, you will have access to a downloadable Excel Workbook containing at least two tabs, one with the answer, the new tasks completed, the other starting where the prior presentation left off.
We will discuss adjusting entries, how to format an adjusting entry worksheet, and how the day-to-day accounting process and the period-end adjusting entries fit together.
Next, we will enter adjusting entries and reversing entries for accrued interest, the interest we have incurred but have not yet paid.
Then we will enter adjusting entries and reversing entries related to an invoice or sales transaction originally entered after the cutoff date, month-end, but for which the work was done before the cutoff date.
After that, we will enter adjusting entries for prepaid insurance, which leads to the next adjusting entry for depreciation.
Next, we will enter adjusting entries and reversing entries related to unearned revenue. The unearned revenue entry is different from many book problems but a standard method when using accounting software.
Then we will enter a transaction to break out the short-term and long-term portion of loans according to their related amortization tables.
Finally, we will take the adjusted trial balance, a trial balance constructed after entering the adjusting entries, and create financial statements.
Everything You Need to Know About Excel Accounting 6–Adjusting Entries & Financial Statements
This course is a comprehensive and well-structured introduction to Excel Accounting 6–Adjusting Entries & Financial Statements. The instructor, Robert (Bob) Steele, is a leading expert in the field with a wealth of experience in Office Productivity to share.
The course is well-structured and easy to follow, and the instructor does a great job of explaining complex concepts in a clear and concise way.
The course is divided into sections, each of which covers a different aspect related to Microsoft. Each module contains a series of video lectures, readings, and hands-on exercises.
The instructor does a great job of explaining each topic in a clear and concise way. He/She also provides plenty of examples and exercises to help students learn the material.
One of the things I liked most about this course is that it is very practical. The instructor focuses on teaching students the skills and knowledge they need to succeed in the real world. He/She also provides students with access to a variety of resources, including templates, checklists, and cheat sheets.
Another thing I liked about this course is that it is offered on Udemy. Udemy is a great platform for taking online courses because it offers a lot of flexibility for students. Students can choose to take courses at their own pace, and they can access the course materials from anywhere with an internet connection.
Udemy also offers a variety of payment options, so students can find a plan that works for them. The course also has a very active community forum where students can ask questions and interact with each other. The instructor is also very responsive to student questions and feedback.
Overall, I highly recommend this course to anyone who is interested in learning Excel Accounting 6–Adjusting Entries & Financial Statements. It is a well-organized and informative course that will teach you the skills and knowledge you need to succeed.
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