BICS 363

Project Document

Excel Requirement

    Financial Statements

    Businesses must often prepare and maintain three essential financial statements: the balance sheet, the income statement, and the statement of retained earnings.

    In this project you are to create a workbook that includes three worksheets, one for each of the three financial statements. Your financial statements are projected (estimated) for a 3 year period starting from the begining of the current year.

    Your balance sheet must include

    1. A header indicating that this is a balance sheet
    2. Date
    3. Assets
    4. Total Current Assets
    5. Total Long Term Assets
    6. Liabilities
    7. Total Liabilities
    8. Owner's Equity
    9. Total Owner's Equity

Your income statement must include

    1. A header indicating that this is an income statement
    2. Date
    3. Revenue
    4. Expenses
    5. Total Expenses
    6. Net Income
The statement of retained earnings must include
    1. A header indicating that this is a statement of retained earnings
    2. Date
    3. Net Income
    4. Dividends
    5. Ending Balance
All worksheets must
    1. have a worksheet tab label
    2. use names in all functions and/or formulas
    3. have a logical and appealing format
    4. use formulas to access the contents of other cells on that worksheet and other worksheets;
      thus, minimizing the amount of input the user must supply and maximizing the amount
      of automatic recalculation and copying.

      Create an appropriate chart to complement the above spreadsheets.