Accounting Equation & Excel - Bank Reconciliation

Accounting Equation & Excel - Bank Reconciliation free download

Mastering Financial Accuracy: Excel-Based Accounting and Bank Reconciliation

This course is designed to provide students with a comprehensive understanding of accounting processes through the practical application of Microsoft Excel. At the outset, students are introduced to a detailed data file containing two months of financial transactions formatted in the accounting equation framework. This file serves as the foundation for the course, allowing students to explore the structure and logic of financial records while learning how to use Excel for organizing and managing accounting data efficiently.

Building on this initial dataset, the course shifts its focus to the General Ledger of the cash account. Students will analyze and reconcile the cash account by comparing the General Ledger entries against a simulated bank statement for the first and second months. The reconciliation process will teach students how to identify and resolve common discrepancies, such as timing differences, data entry errors, and unrecorded transactions. Additionally, students will learn how to make appropriate adjustments in Excel to bring the cash account into alignment with the bank statement, ensuring accurate and balanced financial records.

Throughout the course, students will gain an in-depth understanding of key accounting principles, including the double-entry system, transaction categorization, and the critical importance of reconciliation in maintaining financial accuracy. The course also emphasizes Excel skills tailored for accounting purposes, such as creating formulas, utilizing functions, managing large datasets, and producing clear financial summaries and reports.

By the end of the course, students will have developed a robust skill set that combines theoretical accounting knowledge with practical, Excel-based applications. This course prepares learners to confidently handle real-world financial tasks, whether in professional accounting roles or personal financial management. It also lays the groundwork for more advanced accounting and financial analysis studies.