Financial modelling: automating month end
Closing month end can be an arduous and time consuming process, involving a long check list of processes including downloads, cuts, pastes, a load of rekeying and a few ‘quick fixes’ too for those who make use of Excel to facilitate the process. You only need to have a couple of errors found on review to have to repeat much of the original work. At least there is a three week gap before next month.
Time invested in automating as much of this procedure as possible provides a great return in both team efficiency and accuracy. In this webinar, John Tennent demonstrates a few essential functions of Excel and then shows how they can be used to build a ‘bridge’ file between an accounting system and a management accounts pack. Finally the structure of the management accounts pack is shown which allows instant results to be produced.
The webinar compares and contrasts this approach to that presented by Glen Feechan in the Excel Community publication, ‘Automating Management Accounts Production in Excel: A Simple Approach’, published at the end of 2013.
Presenter: John Tennent, Corporate Edge Ltd
Moderator: Richard Anning, Head of IT Faculty
Date of webinar: 26 February 2015