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Course: Advanced Excel Skills: Formulas, Modeling, Power Query, Dashboards, VBA

Advanced Excel Skills: Formulas, Modeling, Power Query, Dashboards, VBA

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  • Certificate on Completion
  • Access on Android and iOS App
About this Course

This Course will teach you how to prepare efficient Excel model with advanced (powerful) formulas and function, Power Query /Pivot Tables and Excel VBA (all templates are available for download). Fully Dynamic Excel dashboard either with just Excel Formulas or next level Dashboard with Power Query and Pivot tables (no formulas used, refresh the dashboard with new data with just two clicks)

While this course will be utmost helpful to Accounting professionals, Auditors, business professionals, anyone can enroll in the course to learn:

  • Advanced Formulas and function and how to work with mega formulas 
  • Using Power Query (Get and Transform) to automate multiple sheets into an insightful summary report (Pivot Tables Report)Using Excel VBA to control input and reduce errors, automate entire workflow saving precious time.

We will go through the specific example of Prepaid Expenditure in this course, details are given below: 

Prepaid Expenses are everywhere! The most common type of prepaid expenditures is Mobile Phone prepaid vouchers/data plans and Insurances.

Accounting for Prepaid Expenses is fairly straightforward (and easy).

Prepaid Expenditure Accounting activity is routine and critical for any Accountant. The accountant needs to accurately maintain the 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 a great tool for this task

I will teach you the basics of Prepaid expense accounting with a simple example (Accounting Journal entries) 

I will teach you hands-on techniques to maintain a robust prepaid expenses schedule from which you can derive accurately:

  •   The 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 a 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.

Techniques learned in this course can be easily applied in preparing various other Excel Models in your business.

Basic knowledge
  • Basics of Double Entry Accounting System
  • Basics of Microsoft Excel (also basics of Pivot Tables)
  • A Computer with Microsoft Excel Installed (preferably: 2007 or later versions)
What you will learn
  • Formulas and Functions to prepare Accounting Schedules (such as prepaid exps) and many other models
  • Advanced Formulas, Tips and Techniques in Microsoft Excel for Accountants
  • How to leverage awesome data transformation tool called Power Query (Get & Transform)
  • How to Manage Prepaid Expenses accounting professional way (any other amortization schedule)
  • Forecast and Budget Prepaid Expenses and its impact on three Financial Statements
  • Maintaining utmost accuracy while closing month end books (Accountants) for Prepaid Exps
  • Dynamic Data Visualization and Dashboard Preparation using Formulas and Functions
  • Dynamic Dashboards and Data Visualization with Power Query (Next level Data modeling tricks)
Curriculum
Lectures quantity: 56
Common duration: 04:05:03
Course Introduction
  • Introduction to the course and Outline  

    Introduction and course outline! 

  • Minimum Requirements  

    What are the minimum requirements for this course..

  • Prepaid Expenses Introduction  

    What is prepayments in simplest terms, with practical examples (from our day to day life) 

Prepaid Expenses Models (Complete Resources Download)
  • Month End Date Prepaid Expenses amortization Calculation  

    Download Month End Date prepaid expenditure model here!

  • Exact Prepaid Expenses Payment Date Calculation  

    Download model for Exact date prepaid amortization models here

Accounting for Prepaid Expenses
  • Prepaid Expenses (Prepayments) Accounting Definition  

    Technical definition of Prepayments and Prepaid Expenses 

  • Prepaid Expense Example (How Accounting works for Prepayments)  

    Practical example of prepaid accounting, Accounting journal entries as well Impact on Balance Sheet and Income statement (Monthly/Yearly) 

  • Advantages and Disadvantages of Prepaid Expenses  

    What are the major benefits of Prepaid Accounting and prepaid expenses and similarly what the major disadvantages of having high prepaid expenses in books of account (or in Business as general) 

Excel Formulas Detailed (Intro to three Excel Models)
  • Intro to PRO Excel Models and Formulas  

    What are the three types of Excel Models? What are the Functions will be used in preparing these PRO Excel Models? 

  • Date Function  

    Complete Introduction to Date Function in Microsoft Excel with practical example ! 

  • EOMONTH Function  

    EOMONTH Function is very useful Function, especially in all kinds of Business Modeling and Financial Modeling ! 

  • DATEVALUE Function  

    Quite useful Function while Excel Modeling, it converts texts showing in Date format (but not actual excel date), generally used to convert dates which comes in reports from software and other application (text or csv files) 

  • IF Function  

    The IF function is one of the most popular functions in Excel, and it allows you to make logical comparisons between a value and what you expect

  • IFS Function (Office 365 Version Only)  

    The New Excel IFS Function is far more easier to read, write and understand. This video gives you complete introduction to IFS Function and how it works. Please note that IFS function is exclusive to Office365 subscribers for Excel 2016. 

  • VLOOKUP Function  

    VLOOKUP is a Function to lookup and retrieve data from a specific column in table. VLOOKUP supports approximate and exact matching, and wildcards (* ?) for partial matches. The "V" stands for "vertical". Lookup values must appear in the first column of the table, with lookup columns to the right.

  • MATCH Function  

    The MATCH function searches for a specified item in a range of cells, and then returns the relative position of that item in the range. For example, if the range A1:A3 contains the values 5, 25, and 38, then the formula =MATCH(25,A1:A3,0) returns the number 2, because 25 is the second item in the range.

    We will use this function to have dynamic column_index in VLOOKUP Function

  • INDIRECT Function  

    Returns the reference specified by a text string. References are immediately evaluated to display their contents. Use INDIRECT when you want to change the reference to a cell within a formula without changing the formula itself. We will be using this function to create dynamic table_array in VLOOKUP Function

  • NAMED Ranges (Name Manager)  

    By using names, you can make your formulas much easier to understand and maintain. You can define a name for a cell range, function, constant, or table. Once you adopt the practice of using names in your workbook, you can easily update, audit, and manage these names.

    We will be using Named Ranges with Indirect function to make Vlookup Function dynamic 

  • Advanced Version of VLOOKUP Function (All other formulas combined)  

    All formulas : Match, Indirect, Named ranges comes to gather to make VLOOKUP more powerful function specially in dashboards and reporting 

Formula based Prepaid Expenses Model (Schedule)
  • Introduction to Model and Control Panel Tab (Important Sheet Tab)  

    Control panel Tab is most important tab in the model, you have to update key inputs in this tab/sheet which will affect entire model's period and calculations 

  • Formula Based Prepaid Expenses Model - Deep Dive (Part 1)  

    Deep dive into model preparation, understating various dates function and how to automate date changes in model

  • Formula Based Prepaid Expenses Model - Deep Dive (Part 2)  

    Writing most important function of the model, IF or NESTED IF function. 

  • Formula Based Prepaid Expenses Model - Deep Dive (Part 3)  

    Model Finalisation and how to expand model to include more kinds of Prepaid Expenses 

  • IFS Function - Month End date Prepayment calculation  

    In this Bonus Video, We will be using IFS function which is only available if you have Office365 Office 2016, to calculate prepayment amortization when we are assuming Month end date calculation for prepayment exps amortization. 

  • Prepaid Expenses - Closing Balance Summary Tab (Formula Based Summary)  

    In this lecture we will go through step by step exercise of preparing dynamic Prepaid Expense closing balances summary sheet. This is important to analyse data and summaries all prepaid expenses each month. We will use DYNAMIC VLOOKUP Function in combination with MATCH, INDIRECT and NAMED RANGES. 

    This Dynamic VLOOKUP Function is quite powerful formula which you can also use in all kinds of Summary Reports and Dashboards 

  • Protecting Formulas Cells and Fields in the Model  

    We will be using Excel's building Sheet Protection tool to protect all formula fields/cells in entire model (sheet). This will ensure that user can not accidentally delete any of our core formulas and break the model. We have to keep data inputs field/cells unlocked for key data inputs for the prepaid amortisation calculation. 

Calculate Prepaid Expenses Amortisation from Exact Start date (Prepayment date)
  • Exact Date Prepaid Amorisation calculation Intro  

    Brief Introduction about Exact date prepaid exps amortisation calculation. 

  • Formulas update and Model Changes for Exact Prepaid Exps Calculation  

    Changes in existing Formula Based Model that we have prepared in Section 4, We have to update our main prepaid exps amortisation formula and some other formulas to have model calculate exact prepaid exps calculation 

  • Formulas Update for Exact Date Prepaid Exps Amortisation (Part 1)  

    Wiring formulas especially main IF (Nested IF) function to calculate exact Prepaid Exps 

  • Formulas Update for Exact Date Prepaid Exps Amortisation (Part 2)  
  • Formulas Update for Exact Date Prepaid Exps Amortisation (Part 3)  
  • Formulas Update for Exact Date Prepaid Exps Amortisation (Part 4)  
  • IFS Function - Exact Date Prepayments Amortisation  

    In this bonus video, I will be showing you how to use IFS function instead of complex Nested IF formula for Exact Prepayment date amortization calculations. 

  • Data Validation Controls (Enhancing Data Input Controls with Protection)  

    I will show you how to use data validations to make sure your key inputs cells are not filed up with accidental text or other kind of inputs (basically anything other than Date format) also we have to ensure that date input in Column C should be as per month end in Column

Prepaid Expenses Summary with Power Query and Pivot Table
  • Power Query and Pivot Table Prepayment Summary Table Intro  

    Brief Introduction to Power Query and Pivot Table Prepaid Summary Model 

  • What is Power Query and Some Awesome Resources for Power Query learning  

    What is Power Query (aka Get & Transform)? This slide show will give you introduction to Power Query AddIn and its capabilities, I highly suggest you go through the Books which I have linked here, they are best way to get started with an amazing data transformation journey ! 

  • Power Query and Pivot Table Summary - Deep Dive (Part 1)  
  • Power Query and Pivot Table Summary - Deep Dive (Part 2)  
  • Power Query and Pivot Table Summary - Deep Dive (Part 3)  
  • Power Query and Pivot Table Summary - Deep Dive (Part 4)  
  • Using Array Formulas to Add Formula Proection  

    Power Query does not work with sheets with protection as the source file. So in this scenario, we will have to unprotect all individual prepaid expense sheets but in that case, there is change of accidental data errors due to inputs and formula corruption especially our main amortisation IF formula

    We can use Array formulas instead, in this lecture I will show you how to write the (update existing) formula. Array formulas will provide some form of protection if not complete protection. 

Advanced VBA Prepaid Expenses Amortisation Model
  • Changing Macros Security in Excel  

    Before you start using Advanced VBA Excel Model for Prepaid Expenses, you will have to update your Macro security settings : 


    Open any workbook (blank) 

    Go to File >> Options 

    You will see Excel Options Window

    Go at the bottom and select >> Trust Centre 

    On the right-hand side of the window select >>> Trust Centre Settings

    Select Macro Settings from the options

    Select second option >>> Disable all options with notifications

  • Complete Walkthrough - Advanced VBA Prepaid Expenses Amortisation Model  

    VBA Coding enhances a lot of features in our existing Formula Based model, Let's go through the lecture and understand how VBA Coding works and you model becomes like a mini program! 

BONUS: Dynamic Dashboard for Divisional Profit and Loss statements (Easy way)
  • Dynamic Dashboard Overview  

    This lectures shows you overview of the dynamic dashboard which we will be preparing in this section...

  • Importing Profit and Loss Statements Source Files and creating YTD P&L Sheets  

    In this lecture, we will be importing source files/workbooks/worksheets: Divisional Profit and Loss statements for Division A,B and C into mail dashboard workbook, creating YTD versions of Divisional worksheets for three divisions....

  • Creating Dynamic Data Validation  

    In this lecture, we will create dynamic data validation, which will change according to Financial Year input in a cell... 

  • Creating Named Ranges for Dynamic Table Arrays (to be used in VLOOKUP Function)  

    Lets create Named Ranges which are important for creating complete Dynamic Table arrays, this will be used along with INDIRECT function in VLOOKUP function.... 

  • Dynamic Date Column Headings for each Divisional PL Table  

    Lets create dynamic column headings with help of year input cell from Dashboard sheet using Date Function and EOMONTH function for all Divisional PL Sheets including YTD PL

  • Dynamic Month and YTD Dashboard tables headings (PRO TIP)  

    For first part of our Dashboard which are tables for Month and YTD data, we will create Dynamic headings with Text function along with & Joins (very useful trick) 

  • Dynamic VLOOKUP Formula - Preparing First section of the Dashboard  

    Lets write our main formula: Vlookup function along with Named ranges and Match function to dynamically pull data from Divisional PL Month and YTD Tables which are in different worksheet... 

  • Creating Rolling Dashboard with Dynamic VLOOKUP Function  

    Now lets create Second part of dashboard : Rolling monthly Dashboard with help of VLOOKUP function using Match and Indirect/Named Ranges, also adding IF Function to show data according to Date view selection

  • IMPORTANT : Error Checking for your reports/Dashboard (PRO TIP)  

    This is a PRO TIP and I use it all the time in preparing various financial or data modeling reports. Specially useful in Financial reports like Profit and loss/Income statements. In kind of error checks reinforces the confidence in our data and overall reporting/Dashboard accuracy... MUST use tip

  • Data Prep for Visualization: AREA Charts (Awesome trick using #NA Function)  

    Now lets prepare data for Area charts visualization, also we will preparing separate tables/sections for these charts. Most importantly we will be using nifty trick using NA() function to avoid chart drop to zero for non data section...... MUST WATCH lecture

  • Visualization: AREA Charts for Month - Revenue, Gross Profit and Net Profit  

    Lets visualize monthly performace of each division with help of nice and clean Area charts.... using nifty trick of NA() to show data up to selected time period only....

  • Visualization: DONUT Charts : Revenue, Gross Profit and Net Profit (Part 1)  

    Lets prepare Dynamic Donut charts showing share of Revenue, Gross Profit and Net Profit for each division.

  • Visualization: DONUT Charts: Revenue, Gross Profit and Net Profit (Part 2)  

    Continuing with our Donut Charts preparation, in this lecture we will be adding dynamic chart labels to add professional look and easy readability for the audience 

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