Automating Excel-based Financial Statements: Dynamic Arrays (Completed)

Date: Thursday, June 13, 2024
Instructor: David H. Ringstrom
Begin Time:  9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
CPE Credit:  2 hours for CPAs

In this presentation, author and Excel expert David H. Ringstrom, CPA, will guide Excel 2021 and Excel for Microsoft 365 users through advanced techniques using Power Query to link to reports exported from an accounting program as the basis for dynamic array-based financial statements. Dynamic array formulas can spill results into additional cells, which make them well suited for creating customized and self-updating financial statements. You’ll master the following worksheet functions: FILTER, SORT, UNIQUE, CHOOSECOLS, VSTACK, and HSTACK. David will also show how to create interactivity with the Data Validation features. Join this webinar to enhance your Excel skills and streamline your financial reporting processes.

David is the author of “Exploring Microsoft Excel's Hidden Treasures: Turbocharge your Excel proficiency with expert tips, automation techniques, and overlooked features”. He demonstrates every technique at least twice: first, on a PowerPoint slide with numbered steps, and second, in the subscription-based Excel for Microsoft 365. David draws your attention to any differences in Excel 2021, 2019 or 2016 during the presentation and in his detailed handouts. The handouts include an Excel workbook with most of the examples he uses during his demonstrations.

Excel for Microsoft 365 is a subscription-based product that receives periodic feature updates. Conversely, perpetually licensed versions have year numbers in their names and do not receive any feature updates.

Topics Covered

  • Illustrating financial statements with the Waterfall chart feature
  • Stack different ranges of cells vertically or horizontally with the VSTACK and HSTACK functions
  • Troubleshooting the #SPILL! error that can arise in certain circumstances regarding dynamic array formulas in Excel 2021 and Microsoft 365
  • Creating self-updating financial spreadsheets by using Power Query pull data via automated queries that also overcome common issues in exported reports
  • Managing the external data security warning that may appear when you link external data into Excel spreadsheets
  • Sorting lists of data dynamically from elsewhere in a spreadsheet with the new SORT function
  • Building a dynamic array income statement
  • Using the SUMIFS function to sum values based on multiple criteria
  • Displaying subsets of data dynamically by way of the new FILTER worksheet function
  • Assemble a new collection of data by specifying the rows or columns to extract from another data set with the CHOOSEROWS and CHOOSECOLS functions
  • Determining whether formulas within tables use cell references or field names
  • Creating self-updating financial spreadsheets by using Power Query to pull data via automated queries that also overcome common issues in exported reports

Learning Objectives

  • Identify one of the uses of Data Validation
  • Identify the arguments that correspond to the UNIQUE function
  • Name what the SUMIFS function returns if a match cannot be found

Level
Intermediate

Instructional Method
Group: Internet-based

NASBA Field of Study
Specialized Knowledge and Applications (2 hours)

Program Prerequisites
Prior experience with Microsoft Excel is recommended.

Advance Preparation
None

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