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November 20, 2024

FASB Codification System

Topic 2: Using the FASB Codification System (link in Getting Started) research and select an area where you feel a standardized Excel input form would be helpful to track the necessary data needed to meet the standard for financial reporting (you may select any area you feel is appropriate ex. leases, fixed assets, foreign exchange, etc). This form could be used by your audit clients or staff so be sure to identify who will be using the form. Be sure the form design promotes the use of data analysis techniques later.

· Review the video in Topic 1 and once you have established the information you would like to track, create an input form in Excel based on the steps in the video. As part of your discussion explain the specific reason, related to the standard, why you selected the particular fields, the overall design of your form as it relates to helping your clients or staff meet the standard you selected, and how it would improve the preparation of financial statements and/or footnotes to minimize the risk of material misstatement. Upload a copy of your Excel file with at least 5 entries for others to view and comment. Be sure to note the specific FASB standard you used so others can find it easily in the FASB Codification System (ex. ASC 908-330-25-1).

(164) How to create Data entry form in Microsoft Excel – YouTube

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