BMSH2003

Statement of Financial Position in MS Excel

Objectives:

At the end of the exercise, the students will be able to:

• Create a statement of financial position using the built-in features and functions of MS Excel.

Equipment:
• Computer with MS Excel

Basic Principle/s:
A statement of financial position, conventionally called a balance sheet, reports the financial position of an
entity at a particular date. It is a summary of an entity’s economic resources (assets), economic obligations
(liabilities), and equity, and their relationships to each other at a moment in time. Because of this, it is
generally described as a detailed expression of the basic accounting equation: Assets = Liabilities + Equity.

Procedures:

1. Using your 01 Laboratory Exercise 1, create a statement of financial position.

2. Create a new sheet in the file and rename it ‘SFP-Report Form’.
a. Select cells A1-B1, merge, and type ‘Chan Accounting Firm’.
b. Select cells A2-B2, merge, and type ‘Statement of Financial Position’.
c. Select cells A3-B3, merge, and type ‘December 31, 20CY’.
d. Select and merge cells A4-B4, type ‘Current Assets’.
e. Select and merge cells A11-B11, type ‘Non-current Assets’.
f. Select and merge cells A17-B17, type ‘Current Liabilities’.
g. Select and merge cells A23-B23, type ‘Owner’s Equity’.
h. Key in all the account titles under each classification: Assets, Liabilities, and Owner’s
Equity. You have the option to type in each account titles, or, use a formula to import each
account title from the trial balance
NOTE: Cell references may vary depending on the location of each information you wanted
to import from another sheet.
i. For each classification, allocate a cell for each total.
j. Use the SUBTOTAL function rather than SUM to compute for the totals.
k. Use the SUM function to compute the total assets and total liabilities and equity.

3. Create another sheet and rename it “SFP – Account Form”.

a. Select cells A1-E1, merge, and type ‘Chan Accounting Firm’.
b. Select cells A2-E2, merge, and type ‘Statement of Financial Position’.
c. Select cells A3-3, merge, and type ‘December 31, 20CY’.
d. Select and merge cells A4-B4, type ‘Current Assets’.
e. Select and merge cells A11-B11, type ‘Non-current Assets’.
f. Select and merge cells D4-E4, type ‘Current Liabilities’.
g. Select and merge cells D10-E10, type ‘Owner’s Equity’.
h. Key in all the account titles under each classification: Assets, Liabilities, and Owner’s
Equity.
i. For each classification, allocate a cell for each total. Use the SUBTOTAL function rather
than SUM to compute for the totals.

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j. Use the SUM function to compute the total assets and total liabilities and equity.

4. Afterward, design your statement of financial position as desired. You may use any font style and
font size provided that it is presentable.

COMPANY NAME
Statement of Financial Position
DATE
Current Assets

Non-current Assets

Current Liabilities

Owner's Equity

Figure 1. SFP - report form

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COMPANY NAME
Statement of Financial Position
DATE
Current Assets Current Liabilities

Owner's Equity
Non-current Assets

Figure 2. SFP - account form

5. Create an SFP button on the Home Sheet, and hyperlink it to the SFP sheets.

Figure 3. Hyperlinks for the statement of financial position

6. Copy and paste the hyperlink for the Home sheet.

7. Save the file by clicking the Save button or pressing Ctrl + S.

Rubric for scoring:

CRITERIA PERFORMANCE INDICATORS POINTS
Neatness and The spreadsheet has exceptional formatting, and the information is well-
20
Organization organized.
The spreadsheet formulas are well-developed and will correctly determine the
Formulas 30
needed information.
Titles, Labels, and
The spreadsheet contains clearly labeled rows and columns. 10
Headings
The spreadsheet meets all the requirements to interpret the result of the
Content 40
operation.
TOTAL 100

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