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    02 Laboratory Exercise 1

    Uploaded by

    Nhate Tan
    This document provides instructions for creating a statement of financial position in Microsoft Excel. It describes the objectives, equipment needed, and basic principles of a statement of financial position. It then lists detailed procedures for setting up the statement, including formatting cells, entering account titles, using functions like SUBTOTAL and SUM to calculate totals, and creating hyperlinks between the statement and a home sheet. The final section provides a rubric for scoring the completed statement based on neatness, use of formulas, labeling, and meeting all requirements.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    02 Laboratory Exercise 1

    Uploaded by

    Nhate Tan
    643 views3 pages
    This document provides instructions for creating a statement of financial position in Microsoft Excel. It describes the objectives, equipment needed, and basic principles of a statement of financial position. It then lists detailed procedures for setting up the statement, including formatting cells, entering account titles, using functions like SUBTOTAL and SUM to calculate totals, and creating hyperlinks between the statement and a home sheet. The final section provides a rubric for scoring the completed statement based on neatness, use of formulas, labeling, and meeting all requirements.

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    This document provides instructions for creating a statement of financial position in Microsoft Excel. It describes the objectives, equipment needed, and basic principles of a statement of financial position. It then lists detailed procedures for setting up the statement, including formatting cells, entering account titles, using functions like SUBTOTAL and SUM to calculate totals, and creating hyperlinks between the statement and a home sheet. The final section provides a rubric for scoring the completed statement based on neatness, use of formulas, labeling, and meeting all requirements.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    643 views3 pages

    02 Laboratory Exercise 1

    Uploaded by

    Nhate Tan
    This document provides instructions for creating a statement of financial position in Microsoft Excel. It describes the objectives, equipment needed, and basic principles of a statement of financial position. It then lists detailed procedures for setting up the statement, including formatting cells, entering account titles, using functions like SUBTOTAL and SUM to calculate totals, and creating hyperlinks between the statement and a home sheet. The final section provides a rubric for scoring the completed statement based on neatness, use of formulas, labeling, and meeting all requirements.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    BMSH2003

    Statement of Financial Position in MS Excel

    Objectives:

    At the end of the exercise, the students will be able to:


    • Create a statement of financial position using the built-in features and functions of MS Excel.

    Equipment:
    • Computer with MS Excel

    Basic Principle/s:
    A statement of financial position, conventionally called a balance sheet, reports the financial position of an
    entity at a particular date. It is a summary of an entity’s economic resources (assets), economic obligations
    (liabilities), and equity, and their relationships to each other at a moment in time. Because of this, it is
    generally described as a detailed expression of the basic accounting equation: Assets = Liabilities + Equity.

    Procedures:

    1. Using your 01 Laboratory Exercise 1, create a statement of financial position.


    2. Create a new sheet in the file and rename it ‘SFP-Report Form’.
    a. Select cells A1-B1, merge, and type ‘Chan Accounting Firm’.
    b. Select cells A2-B2, merge, and type ‘Statement of Financial Position’.
    c. Select cells A3-B3, merge, and type ‘December 31, 20CY’.
    d. Select and merge cells A4-B4, type ‘Current Assets’.
    e. Select and merge cells A11-B11, type ‘Non-current Assets’.
    f. Select and merge cells A17-B17, type ‘Current Liabilities’.
    g. Select and merge cells A23-B23, type ‘Owner’s Equity’.
    h. Key in all the account titles under each classification: Assets, Liabilities, and Owner’s
    Equity. You have the option to type in each account titles, or, use a formula to import each
    account title from the trial balance
    NOTE: Cell references may vary depending on the location of each information you wanted
    to import from another sheet.
    i. For each classification, allocate a cell for each total.
    j. Use the SUBTOTAL function rather than SUM to compute for the totals.
    k. Use the SUM function to compute the total assets and total liabilities and equity.

    3. Create another sheet and rename it “SFP – Account Form”.


    a. Select cells A1-E1, merge, and type ‘Chan Accounting Firm’.
    b. Select cells A2-E2, merge, and type ‘Statement of Financial Position’.
    c. Select cells A3-3, merge, and type ‘December 31, 20CY’.
    d. Select and merge cells A4-B4, type ‘Current Assets’.
    e. Select and merge cells A11-B11, type ‘Non-current Assets’.
    f. Select and merge cells D4-E4, type ‘Current Liabilities’.
    g. Select and merge cells D10-E10, type ‘Owner’s Equity’.
    h. Key in all the account titles under each classification: Assets, Liabilities, and Owner’s
    Equity.
    i. For each classification, allocate a cell for each total. Use the SUBTOTAL function rather
    than SUM to compute for the totals.

    02 Laboratory Exercise 1 *Property of STI


    Page 1 of 3
    BMSH2003

    j. Use the SUM function to compute the total assets and total liabilities and equity.

    4. Afterward, design your statement of financial position as desired. You may use any font style and
    font size provided that it is presentable.

    COMPANY NAME
    Statement of Financial Position
    DATE
    Current Assets

    Non-current Assets

    Current Liabilities

    Owner's Equity

    Figure 1. SFP - report form

    02 Laboratory Exercise 1 *Property of STI


    Page 2 of 3
    BMSH2003

    COMPANY NAME
    Statement of Financial Position
    DATE
    Current Assets Current Liabilities

    Owner's Equity
    Non-current Assets

    Figure 2. SFP - account form

    5. Create an SFP button on the Home Sheet, and hyperlink it to the SFP sheets.

    Figure 3. Hyperlinks for the statement of financial position

    6. Copy and paste the hyperlink for the Home sheet.

    7. Save the file by clicking the Save button or pressing Ctrl + S.

    Rubric for scoring:


    CRITERIA PERFORMANCE INDICATORS POINTS
    Neatness and The spreadsheet has exceptional formatting, and the information is well-
    20
    Organization organized.
    The spreadsheet formulas are well-developed and will correctly determine the
    Formulas 30
    needed information.
    Titles, Labels, and
    The spreadsheet contains clearly labeled rows and columns. 10
    Headings
    The spreadsheet meets all the requirements to interpret the result of the
    Content 40
    operation.
    TOTAL 100

    02 Laboratory Exercise 1 *Property of STI


    Page 3 of 3

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