Auditing and Balancing a 3-Statement Model

Overview

This session concludes the PivotTable discussion by examining various ways to present report values; discussing the subtly of properly sorting a recurring-use PivotTable; and covering numerous filtering options, including slicers. Next you’ll explore the look-up function designed specifically to retrieve values from PivotTables. The session concludes by transitioning to data acquisition techniques, and you’ll retrieve data from perhaps the largest external data source of all’the Internet. This is part 9 of a 10-part series Module 1: Fundamental Features Module 2: Fundamental Functions, Concepts, Techniques Module 3: Six Critical Excel Functions Module 4: Handling Errors and Comparing Lists Module 5: Date and Text Functions Module 6: Time-Saving Techniques Module 7: Introduction to PivotTables Module 8: PivotTable vs. Formula-Based Reports Module 9: PivotTable Wrap-Up and Web Data Module 10: Getting, Preparing and Summarizing Data

Highlights

• Review Excel's formula auditing and error checking tools.
• Identify the most common errors and sources of imbalance in a 3-statement model.
• Apply techniques to ensure consistency and accuracy across financial models, including checking for column alignment, row differences, and proper referencing.
• Reconcile changes in balance sheet accounts with corresponding cash flow statement entries to identify and resolve discrepancies effectively.

Objectives

• Determine the underlying causes of imbalances within a three-statement financial model using Excel's formula auditing and error-checking tools.
• Identifythe most common errors and sources of inconsistency in linking the income statement, balance sheet, and cash flow statement.
• Recognize effective techniques and error checks that ensure accuracy, alignment, and reconciliation across financial statements.

Preparation

Attendees should have a basic understanding of accounting fundamentals and Excel.

Notice

This is a self-study/on demand course offered by a 3rd party vendor and will NOT be accessible in the My Upcoming CPE section of the ISCPA website. Course access information will be emailed directly to you by CalCPA. The course expires one year from the purchase date. Format = Online Self-Study.