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Excel Model Makeover (Part 3): Reducing Update Time from 3 hr to 3 min (Video) (Course Id 1783)

QAS / Registry
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Author : Lenny Wu, CPA, CGA, MBA
Course Length : Pages: 22 ||| Review Questions: 5 ||| Final Exam Questions: 8
CPE Credits : 1.5
IRS Credits : 0
Price : $21.95
Passing Score : 70%
Course Type: Video - NASBA QAS - NASBA Registry
Primary Subject-Field Of Study:

Computer Software & Applications - Computer Software & Applications for Course Id 1783

Description :

The course is presented in four parts.

First, the course introduces a business case of a “system updating” model that unintentionally includes all the hurdles to prevent fast update from the financial system. The model takes a staff 3+ hour to update the Excel reports for just 1 round of changes from the system, and what’s worse, system changes are twice or three times per day! So how to design the system updating model so that we can get “instant” updates from the system to the final presentation!

Next, the course will demonstrate how the author has overhauled the old model so that it:

  • Reduces the system updating time from 2 hours to 1 min, and
  • Reduces the presentation updating time from 1 hour to 2 minutes!

Third, the course explains 4 ways of reporting from a Financial System, but focuses on last 2 of them:

  • Extract “reports” from the System
  • Extract “data” from the System

Last, we demonstrate the 6 Dos and Don’ts in building system-updating and presentation-updating models. Some of the best practices are:

  • Do NOT extract “individual report” from the system, opening the can of worms of huge manual work. Rather, DO extract the complete “data” from the system for automated reporting
  • Do NOT copy/paste source data into the reporting file
  • Do NOT cleanse data manually before calculation
  • Do NOT manually key in entity name to generate report

Please Note: This course’s author is working on the providing transcripts, PDFs, and slides where applicable. Unfortunately until then we will not be able to offer them with the course but felt the course was valuable enough as it is so have chosen to include it on our site. Our sincere apologies for any inconvenience and please let us know any question using the support bubble on the bottom right of all pages on our site. 

Usage Rank : 0
Release : 2021
Version : 1.0
Prerequisites :
  • Basic Excel and Power Query knowledge
  • Example: be able to open one Excel file and connect to external data files, etc.
  • Recommended prerequisite: Power Query (Part 1): Ultimate Data Transformation
  • Experience Level : Overview
    Additional Contents : Complete, no additional material needed.
    Additional Links :
    Advance Preparation :
  • Basic Excel and Power Query knowledge
  • Example: be able to open one Excel file and connect to external data files, etc.
  • Recommended prerequisite: Power Query (Part 1): Ultimate Data Transformation
  • Delivery Method : QAS Self Study
    Intended Participants : Anyone needing Continuing Professional Education (CPE).
    Revision Date : 27-Jan-2021
    NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
    Approved Audience :

    Video - NASBA QAS - NASBA Registry - 1783

    Keywords : Computer Software & Applications, Excel, Model, Makeover, Part 3, Reducing, Update, Time, 3 hr, 3 min, Video, cpe, cpa, online course
    Learning Objectives :

    Course Learning Objectives

    After this course, you will be able to:
    • Identify 4 ways of reporting out of a financial system
    • Understand when and how to cleanse data during extracting data
    • Recognize the pros and cons of extracting tables or extracting data from a financial system
    • Master 4 best practices of building an update model based on financial system
    • Discover 2 best practices of building a dynamic presentation model based on source Excel file

    Course Contents :

    Chapter 1 - Excel Model Makeover (Part 3): Reducing Update Time from 3 hr to 3 min

    Section 1: Introduction

    Lecture 1: Introduction

    Lecture 2: Real Business Case: How to Report from the System?

    Lecture 3: Before and After of the Makeover

    Lecture 4: Instructor

    Lecture 5: How this course is compared with other similar courses?

    Lecture 6: What you will get from this course?

    Section 2: How to Report from a Financial System?

    Lecture 7: First 2 ways of Reporting from a Financial System

    Lecture 8: Extracted Report from the System

    Lecture 9: Extracted Data from the System

    Lecture 10: Reporting from Financial System Wrap-up

    Section 3: System Reporting: 4 Best Practices

    Lecture 11: Best Practice No. 1

    Lecture 12: Best Practice No. 2

    Lecture 13: Best Practice No. 3

    Lecture 14: Best Practice No. 4

    Section 4: PowerPoint update: 2 Best Practices

    Lecture 15: Best Practice No. 5

    Lecture 16: Best Practice No. 6

    Lecture 17: Before and After of the Makeover - A Revisit

    Section 5: Bonus: VBA

    Lecture 18: VBA Macro

    Section 6: Conclusion

    Lecture 19: Takeaways

    Lecture 20: Next Course & Q&A

    Chapter 1 Review Questions


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