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Set up chart of accounts

Set up chart of accounts. Set up 12-month timeline. Input beginning balances. Input change for the month. Input changes for all 12 months. Total the change for the year. Set up the ending balance. Build the Income Statement. Balance Sheet. Income Statement. Integrate the statements.

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Set up chart of accounts

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  1. Set up chart of accounts

  2. Set up 12-month timeline

  3. Input beginning balances

  4. Input change for the month

  5. Input changes for all 12 months

  6. Total the change for the year

  7. Set up the ending balance

  8. Build the Income Statement Balance Sheet Income Statement

  9. Integrate the statements Depreciation/amortization • Others Linkages: • Interest income • Interest expense • Deferred tax • Bonus • Work-in-progress Stockholders’ Equity Net Earnings (Loss)

  10. Integrate cash flow “plug” Balance Sheet Cash Total Assets Total Liabilities Equity Income Statement Profit (Loss) Cash Flow Circular Reference

  11. Cash Flow Equation + Net Earnings (Loss) - Change in Total Assets + Change in Cash + Change in Total Liabilities + Change in Equity: stock & retained earnings

  12. Extend timeline back & forward Last Year Current Year Next Year Balance Sheet Balance Sheet Balance Sheet Income Statement Income Statement Income Statement Cash Flow Cash Flow Cash Flow

  13. Input actuals up to current month Last Year Current Year Next Year Input actuals Input actuals

  14. Input actuals for month closed Last Year Current Year Next Year Input actuals Input actuals

  15. Project ahead Last Year Current Year Next Year Project ahead

  16. Set up charts Last Year Current Year Next Year

  17. Setup Instrument Panel

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