What you’ll learn
- Analyze the structure of an accounting equation to accurately prepare for data transition between systems.
- Enter beginning balances from a prior accounting system into a new system using Excel, ensuring alignment with established accounting principles.
- Apply Excel functions to record and organize one month of financial transactions systematically.
- Develop subledgers for accounts receivable, accounts payable, and inventory to manage detailed transaction records effectively.
- Synthesize transaction data to prepare comprehensive financial statements, including a balance sheet and an income statement.
- Evaluate the accuracy and completeness of financial statements to ensure data integrity in the new accounting system.
- Demonstrate proficiency in using Excel for accounting workflows, including managing balances, transactions, and subledgers.
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