Accounting for Prepaid Expenses with Advanced Excel Modeling

Course details

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 straight forward (and easy).

Prepaid Accounting activity is routine and critical for any Accountant. Accountant needs to accurately maintain 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 great tool for this task

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

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

•    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:

1. IF Function (nested IF), Date Functions, Lookup and Match Function, Named Ranges, Data validation, Array Formulas and much more
2. How to combine above functions to create powerful formulas
3. Use of Power Query (Get and Transform) and Pivot Tables
4. Excel VBA

At end of the course, you will have 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