Electronic spreadsheets are a fact of life for all business professionals

Electronic spreadsheets are a fact of life for all business professionals.  It is essential that you learn how to use Excel to present accounting information.  Excel is the most powerful tool used by accountants today.  The more you learn about how it works, the more marketable your skills will be in the job market.

In order to make it more challenging, I made this assignment a group project so you could learn how to work together even remotely. I suggest making a Google Doc and working remotely to finish the project. In the end, download the Google Sheet as MS Excel or MS Word and then submit it to Canvas by the group leader of your choice. If someone is not cooperating, then let me know, and I will remove him or her from the group for lack of participation. You need to mention all active and inactive members′ names in the Word cover sheet before the memo document.

To receive full credit, you must build the spreadsheet using the Excel template provided in the Files section.

As a group of four or five, you will complete a problem as your project on a multi-page, formulated, interconnected Excel sheet, including the following tabs:

General Journal Tab
General Ledger: Asset Tab
General Ledger - Liability Tab
General Ledger: Equity Tab
Worksheet Tab
Income statement and Stock Holders’ Equity Tab
Classified Balance Sheet Tab
Post-Closing Trial Balance Tab
The Excel project of “Group X Consulting Inc.” must be submitted with a business memorandum.

A memorandum—usually known as a memo—is a document that is most commonly used for internal communication between coworkers or members of a department. In our case, the Board of Directors is concerned about this year's profitability. Each issue in a memorandum needs one paragraph, plus you should start with one introduction at the beginning and finish with one conclusion at the end of the memorandum. You do not write unnecessary information in the memorandum. You should write only about the requested issues. You need to write a memo to the board of directors about their concerns based on your prepared financial reports.