From the course: Excel for Accountants

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Financial statement links in Excel

Financial statement links in Excel - Microsoft Excel Tutorial

From the course: Excel for Accountants

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Financial statement links in Excel

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- [Instructor] Income statements are critical for the firm, but accountants also need to be able to create a balance sheet, and this requires preparing asset and liability entries in Excel. Let's take a look. I'm in the 03 05 Begin Excel file. Now, what we have here is a basic balance sheet. We've got assets, liabilities, and equity entries that have been put together by the company, but the balance sheet's not quite finished, so we need to go through and make some modifications. In particular, we need to start by calculating our total assets. To do this, we're going to sum up our short-term current assets, plus all of the long-term entries for the firm. So this will include the property, plant, and equipment net of any accumulated depreciation, plus our goodwill and intangibles, and our long-term investments, and then other assets. When we do that, we can go through and extend this across the full five-year period. And the nice feature about this is that if we have an error of some…

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