Spreadsheet Modelling for Accounting
Report on 23rd FSC workshop held 22 December 2021-on campus
The Department of Commerce, SSMRV College organized the 23rd Faculty Study Circle – A Workshop on “Spreadsheet Modeling for Accounting” on 22nd December 2021. Venue: Business Lab, 2nd Floor, SSMRV College Campus. The Speaker for the day was Dr. V. Rajesh Kumar.
Mrs. Ume Salma, Co-Ordinator – Faculty Study Circle, Assistant Professor, Department of Commerce welcomed the dignitaries and participants. Dr.S.Anil kumar, Principal, SSMRV College spoke about the importance of spreadsheets in Accounting, he addressed the gathering and motivated the Faculty with his inspirational words.
Mrs. Shakeela M K, Member-FSC team, Assistant Professor, Department of Commerce, SSMRV College introduced the resource person, Dr. V. Rajesh Kumar, renowned author of many Commerce and Management books and Founder-Vittam Pravina Gurushala, Finance Expert Academy.
About the Talk:
Addressing the attendees, Dr. V. Rajesh Kumar spoke on the importance of preparation of accounting statement and the need to be well versed in reading accounting statement, a key skill necessary in the industry today.
He explained that the data in the spreadsheet is reusable and storable, making Excel more flexible than an accounting calculator for performing simple calculations and summations. Additionally, we can create charts and graphs from the spreadsheet data, creating a media-rich user experience and different views of the same data. It can also use add-ons to mine the data and create models and financial forecasts.
Dr. V. Rajesh Kumar explained that the Workshop was designed to address the learning requirements for academicians and students – who are engaged in or interested to learn the nuances of essential spreadsheet modeling for Accounting. It provides conceptual and practical insights on the basic and advanced excel tools useful for accounting modeling such as data table, pivot tables, goal seek, solver, and array functions. In addition, it covers application areas in accounting namely, Accounting Statement forecasting,
It is used to estimate how future scenarios will impact the performance and financial position of a business. While each income statement is unique to every company, there are many common line items that you will see over and over again. This model is usually constructed on an electronic spreadsheet, using summary-level revenues and expenses, and employing formulas that change the results of the model when certain variables are altered.
The session was followed by an interactive question and answer session with the Participants.
The Programme lasted from 2:30 PM to 4:30 PM.
Attendees/ Presence: Around 60 Participants including Faculty from this Institution and other Institutions within Bangalore attended and benefited from this Workshop. The intake of participants had to be restricted to 60 participants due to COVID protocol, whereas the registration was around 100 participants across Bangalore.
Outcome of the Event: Participants are expected to better appreciate the importance of preparing and recording Accounting statements accurately. Participants are expected to have acquired an understanding of how the pivot tables can be framed and how the financial position and performance are determined when variables are entered.
Registration Link : https://forms.gle/a1npxfcS71iEazRd7