The first statement we'll build is a simple balance sheet. The balance sheet is critical because it shows us what the business owns, what it owes, and what it is worth. Our final result should look similar to the following screenshot:
Tip
This is a final reminder that we will use the simplest elements first and adopt some alternate, although still simple, methods to make the reports easier to use and consume as we progress through this chapter.
Let's begin building our balance sheet with some general report information using basic Excel:
Open a blank Excel workbook and save it as
FinancialStatements.xlsx.In cell D3, enter
Fabrikam, Inc. which is the name of our sample company.In cell D4, enter
Balance Sheet - Compared to Last Year. This is the name of the report. We will compare our current year to the previous year for a user defined fiscal period.Highlight cells D3 and D4, increase the font size to 16, and make the text bold. Report headers are usually bigger and bolder...