2016 0921 IMA MO-Stand-Out (Handout)

16th Annual Heartland Regional Council of the IMA Educational ConferenceSeptember 21, 2016

MS Excel: How to Stand Out as an Accounting Professional

PRESENTATIONhttp://bit.ly/stand-out-pres

EXCEL WORKBOOKhttp://bit.ly/stand-out-excel

Handouts

• Overview – So How Do You Set Yourself Apart?▫ Data & analytics!

• Data Analysis – Excel “Hot” Areas of Knowledge▫ Tables▫ LOOKUP functions▫ Pivot Tables▫ Automation with macros▫ Reporting User Navigation / Interface Dynamic

Topics

• This is NOT a “how to” session• Rather, focus on how these concepts CONNECT – &

why they’re meaningful.• We will work from a basic data set (sales data from

Apple, Inc.)▫ Get data▫ Manipulate & structure data▫ Analysis of the data as we start to shape what we want to

see▫ Basic presentation of the data▫ Lastly, ideas on how to automate key tasks to simplify for

others (and YOU!)

How we will do this…

The Start…Data

The “End-Game”

Information & Insight –dynamic, agile

DATA

Again…

Technological Change - Drivers

• Social•Mobile• Information (Analytics)• Cloud

9

Technological Change - Drivers

• Social•Mobile• Information (Analytics)• Cloud

CORRIGAN KRAUSE

10

Analytics Overview

11

http://www2.deloitte.com/us/en/pages/deloitte-analytics/articles/analytics-trends-2015.html

Analytics were one of the fastest growing technology trends in 2014 and momentum is continuing to build, according to Deloitte Analytics' recent report, Analytics Trends 2015: A Below-the-Surface Look.

"Put simply, analytics is becoming both the air that we breathe —and the ocean in which we swim," the report says.

CORRIGAN KRAUSE

Analytics Overview

12

“Today, we recognize skills in data analytics, information management, and programming languages as more valuable than ever, along with the leadership skills that enable students to effectively lead, communicate, and collaborate,” stated Mike Fenlon, US and Global Talent Leader at PwC. “Tomorrow, we can only imagine how technology will continue to transform our work and the workplace.

CORRIGAN KRAUSE

Analytics Overview

Business analytics skills high on CFO wish list“CFOs see the business analytics skillset, including business intelligence and data mining, as a prerequisite for their accounting and finance staff. As the quantity of data available to companies grows*, proficiency in this area is becoming more and more sought after.”

CGMA Magazine, October 2014http://www.cgma.org/magazine/news/pages/201411034.aspx

* AND availability of cost-effective, robust analytical tools to manage data

CORRIGAN KRAUSE

13

• As far as expected Excel knowledge, what are 2-3 core Excel skills you expect every accountant should have command of?

• How has the need for data analytics skills changed in your organization over the last 5 years?

So…I polled my network…

• “LOOKUP functions, Basic Pivot Tables, writing clear formulas (using range names, etc), and proper structure”

• “Data structure and use of table format, Pivot Tables, VLookup function; data first thinking”

• “I think the main one for me here is being able to take data that is derived from our mainframe systems and be able to drop it in excel spreadsheets to manipulate, sort, summarize, etc.”

• “Basic logic statements like IF(), data manipulation LOOKUPs, MATCH, Pivot Tables, Pivot graphs”

So…I polled my network…

• “Regarding Excel knowledge. Pivot tables are a must. So much so that my latest hire, as I was narrowing down candidates, I gave them a laptop with a data table and asked them to build a pivot table. It wasn’t critical what they analyzed, but I needed to see that they were comfortable navigating a data set and creating analysis with pivot tables.”

So…I polled my network…

• As far as expected Excel knowledge, what are 2-3 core Excel skills you expect every accountant should have command of?

• How has the need for data analytics skills changed in your organization over the last 5 years?

So…I polled my network…

• “Much more of a focus on data - understanding manufacturing variances, inventory drivers, and MRP buying suggestions.”

• “We have had an increasing demand for data analytics. We have funded a “skunk works” group within our FP&A department of 8 analysts…We seek to inform our business decision making (the art) with as much science as possible, and this group is constantly providing ad hoc analysis on how our stores…”

So…I polled my network…

• “A ton. We are getting exponentially more data out of the POS system and we are choking on how to present it visually/effectively and keep it current.”

• “5 years is ages ago…times are moving so fast and the ability to manipulate large data sets, to glean meaningful insight, is critically important. And this is not simply executing with the tools (Excel), but developing the ability to independently think big picture. Must commit to developing in this manner as fabric of a professional.”

So…I polled my network…

So, Why Excel?

• “No single tool is as universally holstered in the tool belts of digital analysts as Microsoft Excel. While it’s neither an advanced BI tool nor the most robust data visualization platform on the market, it is a robust, multi-purpose data extraction, data exploration, and data visualization environment.”

20

http://analyticsdemystified.com/excel-tips/announcing-excel-excel-digital-analysts-5112016-chicago/

• Excel Tables (Data Structure)• LOOKUP Functions - VLOOKUP, HLOOKUP – (Data

Structure)• Pivot Tables (Data Analysis) • Visual Basic – Macros (Automation)• Basic Reporting Introduction (Presentation)

Excel Skills – Five Topics

REVIEW INDEX PAGE

Spreadsheet Review

• Foundation of data structure for analysis purposes• Benefits of Excel Tables:▫ “Excel Tables: Overlooked, Yet Awesome”▫ “Want to become a Data God? Learn Excel Data

Tables”

Excel Data Tables (Data Structure)

• Automatic data filters and sort options• Formulas “Structured” references vs cell references• Auto-fill formulas • No need to freeze headers to keep column

references• Dynamic range (updates as new records are added)• Auto expansion of table as data is added• Auto summing and calculations on table totals

Key Features of Excel Data Tables

• Everyone needs to look things up…• Enables easy dataset “expansion” in Tables• Useful for creating dynamic reporting formats

• VLOOKUP Syntax

LOOKUP Functions (Data Structure)

• HLOOKUP Syntax

• Lookup_value – “what do you want me to look for?”• Table_array – “where do you want me to look?”• Index_num – “what column or row (VLOOKUP or

HLOOKUP) do you want me to get value from?”• Range_lookup – “do you want an EXACT match

(false) or APPROXIMATE match (true)?

LOOKUP Functions (Data Structure)

• Here are a couple of videos to help!▫ “Excel Lookup Series #1: VLOOKUP Function 1st

Example” (07:57)

▫ “VLOOKUP Function Beginner to Advanced 26 Examples: How To Use Excel VLOOKUP Function” (1:08:02)

LOOKUP Functions (Data Structure)

Source: ExcelIsFun YouTube channel

Pivot Tables (Data Analysis)

http://bit.ly/2cO7cy1

• Do not be intimidated by macros!• Ask yourself…▫ What do I do repeatedly?▫ What processes take time that might be able to be

automated?▫ IF others are going to use this file, how can I help them

by reducing steps required to use?• I don’t understand VBA…GOOGLE IT!• BUT, be careful of over-automation…

Basic Macros Introduction

ONE Macro to Get You Started!

http://bit.ly/2cOkivf

Print Active Sheet to PDF

• Presentation is CRITICAL – great detail with lousy presentation = perceived lousy work

• Pivot Tables are not presentation “worthy”▫ But they are great for providing data to the reports

• Thus, use pivot tables as data sources via use of LOOKUP functions

• Consider dynamic reporting (user driven updating)• Visualizations• Mobile!

Reporting (Presentation)

• Search the web▫ “Don Tomoff, Invenio Advisors”

• Flipboard magazines -https://flipboard.com/@dtomoff

Find Don…

Thank you!