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Description
Prepaid Expenses are everywhere! The most common type of prepaid expenditures is Mobile Phoneprepaid vouchers/data plans and Insurances. Accounting for Prepaid Expenses is fairly straight forward (and easy). Prepaid Accounting activity is routine and critical for any Accountant. Accountant needs to accurately maintain record of all prepaid expenses to computer accurate Profit or loss each period end (monthly/quarterly and yearly) And Therefore it is quite crucial to have a Robust Prepaid Expenses Schedule (for an Accountant/Analyst/Auditor) and Microsoft Excel is great tool for this taskI will teach you basis of Prepaid expense accounting with simple example (Accounting Journal entries)
I will teach you hands on techniques to maintain a robust prepaid expenses schedule with which you can derive accurately:
Portion of Prepaid Expenses to be charged to Income Statement/Profit and Loss statement each month
Prepaid Expenditure Balances for Monthly Balance Sheet Reviews
Forecast or Budget Prepaid Expenses for future periods
Impact on Cashflow of Business due to prepaid expenses spending (high or low)
I have used Microsoft Excel as a tool to prepare three kinds of Prepaid Expenses Schedules (Models), I will walk you through step by step process on how to prepare and maintain prepaid expenses models/schedules during this you will learn:
IF Function (nested IF), Date Functions, Lookup and Match Function, Named Ranges, Data validation, Array Formulas and much more
How to combine above functions to create powerful formulas
Use of Power Query (Get and Transform) and Pivot Tables
Excel VBA
At end of the course, you will have clear and practical understanding of how prepaid expenses accounting works and how you can use Microsoft Excel efficiently to calculate accurate prepaid expenses charge, prepaid expenses balance and Forecast Prepaid Expenses for future periods
Who is the target audience?
Any Excel enthusiast who wants to learn advanced Excel tricks
Accountants who wants to efficiently manage their Prepaid Expenses and Balance Sheet Reconcilations
Non-Accounting professional/Entrepreneurs who wants to estimate impact of Prepaid Expenses on their investment and Profit and Loss over fixed term
Analysts /Auditors who want to audit effectively for Prepaid Expenses
Business Budgets and Forecast Activities where prepaid expenses are crucial part of Balance Sheet and Income Statements
Requirements
Basics of Double Entry Accounting
Basics of Microsoft Excel (also basics of Pivot Tables)
A Computer with Microsoft Excel Installed (preferably: 2007 or later versions)
