Auditing and Balancing a 3-Statement Model ON DEMAND

Overview

The three-statement financial model forms the foundation on which many other models and analyses are built, and constructing a three-statement model is a critical skill for many roles in accounting and finance. In this course, we will cover the most common errors and issues that cause a three-statement model to be out of balance. We’ll show how to correctly find and fix these issues using error-checking best practices. We’ll also build some common error checks that can be used to quickly diagnose issues.

Highlights

Review Excel’s formula auditing and error checking tools. Identify the most common errors and sources of imbalance in a 3-statement model. Apply techniques to ensure consistency and accuracy across financial models, including checking for column alignment, row differences, and proper referencing. Reconcile changes in balance sheet accounts with corresponding cash flow statement entries to identify and resolve discrepancies effectively.

Prerequisites

Attendees should have a basic understanding of accounting fundamentals and Excel.

Designed For

Professionals in accounting or finance.

Objectives

Determine the underlying causes of imbalances within a three-statement financial model using Excel’s formula auditing and error-checking tools. Identify the most common errors and sources of inconsistency in linking the income statement, balance sheet, and cash flow statement. Recognize effective techniques and error checks that ensure accuracy, alignment, and reconciliation across financial statements.

Preparation

None.

Notice

None.