How can you manipulate detailed financial accounting information in Excel?

As mentioned earlier, financial accounting records every transaction between an organization and third parties. While this level of detail is lost in external reporting, it is extremely useful for management accounting which relies a great deal on this detailed financial accounting information. In Chapter 2, you will learn how financial accounting and management accounting feed each other. For now, I will just introduce some Excel tools (VLOOKUP, INDEX and MATCH, pivot tables and pivot charts) which can be very useful to extract information from journal entries. Before watching the video, download this Excel file. It will allow you to reproduce the steps I will perform.

Disclaimer: for the following videos, I must apologize for two things. First, some of them had a technical issue I noticed too late: the screen “shifts” for no reason. Second, well… how do I write that… I got a bit carried away because I really love these tools. So don’t worry if it is a bit high level at some point. We will go over these tools again. Don’t hesitate to comment to give me suggestions to improve the videos, or tell where you could not follow anymore!

=VLOOKUP and format tables

=VLOOKUP and format tables in a realistic context

INDEX and MATCH in Excel

Pivot tables

Pivot charts

After watching these videos, download this Excel file. That way, you can see the end result even if you could not reach it. Don’t hesitate to play with the data!