Using Excel for Accounting: Corporate Recordkeeping

Name: Using Excel for Accounting: Corporate Recordkeeping
Author: Bob Akbar

Learn about International Accounting Standards and trusted sources for Corporate Recordkeeping

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Course: On-Demand

Hello, my name is Bob Akbar, and in these lessons for corporate record keeping, we will cover International Accounting Standards, Templates and Statements, and Trusted Sources. In this lesson, we will learn about International Accounting Standards. International Accounting Standards are set that we have a set acceptable method of displaying different things, such as: What is an income? What is an expense? What is goodwill? What is non-tangible assets? These are all issues that we need to have standardized if we are going to be able to do business between different corporations, and if people are going to invest into corporations so they can understand what these corporations are reporting. As you can see, we are on the ifrs.org website, and I've gone through the Issued Standards, which is right here. And you can see, they have everything you need to navigate the different sites, the different standards they may have, any questions that you may have you would be able to find in here. There is also updates that come out, and you can see what they're thinking and what they are changing. So we're going to go to the Updates here. And here it is. They have them listed by the year. What has changed in the industry where they decided the standards need to be updated. And here's some of the updates from 2022. And if you notice here, they have Goodwill and Impairment. That is something that we have been talking about on our accounting reportings. And here it is, Goodwill and Impairments. And you notice, they're working on identifying intangible assets acquired in a business combination. So what is an intangible asset, right? Is it simply your brand name? How about your brand reputation? How much is that worth? And they're also going down to the presentation of total equity, excluding goodwill. So, goodwill is an issue that we will see come up. There's some of the new things they're discussing as of late 2022, going to 2023. And as you can see, once again, we are here, they decided to change the project to business combination, disclosures, goodwill, and impairments. Right there, goodwill again. One of those topics that is coming up, and it is being revised. So, before you start putting these things down on your reporting sheets, there is a statement that your corporation has as far as what they consider to be intangible assets or goodwill and how they evaluate it. Please check with them, as well as checking with the International Accounting Standards. Thanks for watching, stay tuned for the next lesson where we will discuss Templates and Statements.

Intermediate Provider : Bob Akbar 3 Lessons · 14m in Arabic, German, English, Spanish, French, Portuguese, Chinese

Course Description

In these lessons, we will explore Corporate Recordkeeping with Excel. We will discuss International Accounting Standards, and how these can help us create and interpret financial statements. We will look at the different sources available for information on International Accounting Standards, and how you can tell which ones to trust. We will also explore other ways we can standardize accounting in Excel, such as templates, where the required fields are predefined, tables are drawn, links are made, and the primary headings are already listed. Templates are an excellent way to save time and increase accuracy when generating accounting statements, and one of the most useful accounting tools featured in Excel. These lessons will also discuss trusted sources for financial information, and how you can evaluate any new sources you come across.

In the world of corporate recordkeeping, how can you be sure that you can trust the sources of your financial information? And how can you be sure that you are generating the proper reports? In this course, we will explore International Accounting Standards and trusted sources for learning more about these, as well as how to download and use templates to save time and increase accuracy.

What You'll Learn

Understand International Accounting Standards and how they help create and interpret financial statements
Evaluate and identify trusted sources of financial information
Use accounting templates with predefined fields, tables, links, and headings to save time
Promote efficiency and accuracy when generating accounting statements in Excel
Assess new sources of financial information to determine which ones to trust

Key Takeaways

International Accounting Standards help you create and interpret financial statements and standardize accounting in Excel.
Templates predefine required fields, draw tables, make links, and list primary headings, saving time and increasing accuracy when generating accounting statements.
Multiple sources exist for information on International Accounting Standards, and you need to evaluate which ones to trust.
Templates are one of the most useful accounting tools featured in Excel for corporate recordkeeping.
Knowing how to evaluate new financial information sources helps ensure you generate the proper reports.

Frequently Asked Questions

What does this course cover?

This course explores corporate recordkeeping with Excel, including International Accounting Standards, trusted sources for financial information, and how to download and use templates to save time and increase accuracy.

What will I learn to do with accounting templates?

You will learn to use templates where required fields are predefined, tables are drawn, links are made, and primary headings are already listed, helping you save time and increase accuracy when generating accounting statements.

How does the course address trusted sources?

The course discusses trusted sources for financial information, the different sources available for information on International Accounting Standards, and how you can evaluate any new sources you come across to tell which ones to trust.

What topics are covered in the lessons?

The lessons cover International Accounting Standards, Templates and Statements, and Trusted Sources.

What skills does this course help build?

It supports skills in record keeping, accounting, accounting methods, accounting records, bookkeeping, and corporate accounting.