Mapping a Trial Balance to Create a Set of Financial Statements

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#FinancialStatements #Excel

[@ChristtheKing100]

Excellent! Well explained. Lucid, concise and Crisp.

[@MintyAnalyst]

Glad it was helpful! 😊

[@erinandeloisetv8536]

Perfect! Just what I need.

[@MintyAnalyst]

Thanks, glad it was useful :)

[@muhammadsulman6921]

Thank you! I love the video, it is very practical,the way you explain in simple way and your excel skills

[@MintyAnalyst]

Glad it was helpful, thanks :)

[@kevinken2576]

oh

[@mj-sl2wg]

Thank you so much. Please do more and more videos for us.

[@MintyAnalyst]

Thank you, I will

[@aaroacademy]

Thank you for sharing this.

[@MintyAnalyst]

Thank you for the comment, glad it was helpful 😀

[@WitchyGirl]

This is great Thank you for sharing!

[@MintyAnalyst]

Glad you enjoyed it!

[@raakhishah6565]

Awesome, you are quick fingered! Do you have a follow-up on this to cover indirect method cashflow? Thank you!

[@MintyAnalyst]

Thanks! Haven't thought of making a video on preparing a cash flow statement, will think about it ;)

[@accountechx9716]

Great video , I like this template

[@MintyAnalyst]

Glad it was helpful :)

[@imranshaikh9912]

Well explained Thanks for sharing... Please keep it up...

[@MintyAnalyst]

Thanks, I am trying to focus more on Excel tips and tutorials lately, so hopefully videos will get better and more informative :)

[@imranshaikh9912]

@@MintyAnalyst Hi please share more videos for same subject. Kindly share excel file also. Thanks

[@GrayWorm]

Hello Dobromir, Great video. Two question: Is this mapping tutorial good for both GAAP and IFRS financial statements generation? And, how can I get a copy of your excel mapping template?

[@MintyAnalyst]

Hi John, yes the concept in the video can be applied to both GAAP and IFRS. However, you will have to ensure you present everything as required by the relevant standards, as well as make any GAAP/IFRS adjustments to the final mapped numbers. The tutorial only shows how to get from a TB to a mapped FS, but you will have to make sure you are using the proper mapping for the specific case. I wouldn't say this is a template that you can just apply, it's more of a concept you need to follow. There's a link in the description of the video on where to find the Excel file, hope it helps :)

[@HabibUllah-cw7do]

Wonderful man....you beauty

[@MintyAnalyst]

Heh, thanks Habib!

[@harismuhammad1569]

Amazing video much helpful in practical life. Please make more videos on trail balance and FS with much more detail. Please also share file guide and reference .Thank you for this great videos

[@MintyAnalyst]

Hi Haris, thanks for the comment. There's a link in the video description, you can download the file from there.

[@harismuhammad1569]

@@MintyAnalystHi Dobromir thanks for reply. Please help the link is not working

[@MintyAnalyst]

@@harismuhammad1569 it is working, just checked it again: magnimetrics.com/excel-downloads/

[@harismuhammad1569]

It's working now. Thank you

[@harismuhammad1569]

Plz make some more detail video on trail balance data mapping and then making 5 financial statements

[@scotolivera8207]

Nice video, i am wondering what does the custom tab called D-tools contain

[@MintyAnalyst]

Hahah, it's a small collection of macros I've made over the years to speed up my workflow. I am cleaning it up and re-writing some of the tools to work better and plan to share it after that. You will get a link once it's ready if you are subscribed to our newsletter at magnimetrics.com/newsletter-sign-up/

[@scotolivera8207]

@@MintyAnalyst that’s what I thought, I’ve subscribed and waiting.Thanks

[@arslanthemughals]

Great Lesson. Sir I think it could be a good idea to produce a comprehensive Udemy/Skillshare course on ''TB mapping to create FS along with year end adjustments!? So we can have more firm level experience

[@MintyAnalyst]

I am working on something like that but it's still early stages, and it's hard to dedicate time to it. Will happen eventually :)

[@madhavneupane168]

Superb..❤❤

[@MintyAnalyst]

Thanks 🤗

[@vivekverma5014]

This is awesome. Can you pls share this particular file?

[@MintyAnalyst]

You can find the link for download in the video description, I just added it.

[@syedaneesdurez7197]

Amazing . Sir Pls advise I need to learn more and more and be expert in preparing TB PL and BS and would like to join the tutorials if any available. Thanks

[@MintyAnalyst]

I am always looking for new video ideas, feel free to share what you'd like to see next!

[@muhammadbilal1947]

you are great lovle

[@MintyAnalyst]

thanks 😁

[@khushbu.p4767]

Hello sir, Thanks for the video. How in case of preparing FS including Notes to accounts and then mapping?Please guide.

[@MintyAnalyst]

This is quite a bigger topic. Generally, you can place all the notes on separate sheets and then follow the same approach, just add another Column in the Trial Balance, call it "Notes Mapping" and add your mapping there for the notes. Be careful not to use the same term twice. Example: If you have notes for Hired Services and Material Expenses, you can have a line Other in both. If you use "Other" in your Notes Mapping, you will end up adding both Hired Services' Other and Material Expenses' Other, so you should name the Notes Mapping uniquely, let's say HS-Other and ME-Other in this example. If you are looking to make a full set of Financial Statements with the notes, I would suggest checking for a web course like on Udemy or something like that.

[@khushbu.p4767]

@@MintyAnalyst I am grateful for your assistance Sir.

[@MintyAnalyst]

You're welcome. If you are interested, I have a lot of financial articles on our analysis platform, magnimetrics.com Maybe something there might be helpful as well :)

[@khushbu.p4767]

@@MintyAnalyst Alright sir :)

[@PerryPahladsingh]

@@MintyAnalyst How about a column cross-reference and use that as a numbering reference ? Every line item usually has a cross reference to notes

[@tahsincetinkaya7970]

Excellent

[@MintyAnalyst]

Glad it was helpful!

[@shaikhhossain4762]

How supplier advances is asset? Advances are given for goods and services which is not accomplished yet. So it is an Unearned Revenue and would be a current liability

[@MintyAnalyst]

Hi Shaikh, thank you for the question. Advances that Clients have given to us are Unearned Revenue and presented in current liabilities. However, advances we have given to our Suppliers when we have prepaid for goods/services are Current Assets. Hope this helps.

[@abdulhameed-rd2bg]

Sir great

[@MintyAnalyst]

Thank you, glad it was helpful :)

[@allansaflor4203]

hi, awesome video, can you please share this file for our guide and reference, it will be a helpful for starter like us..thank you in advance for your help.

[@MintyAnalyst]

I just added the link in the video description

[@abdulhameed-rd2bg]

Can u upload vedio relating to proper software of accounting pls

[@MintyAnalyst]

I've never really used accounting software, only exports from the accounting system of the companies I've worked for. I would guess all software solutions in the accounting space can do proper work, as long as they are configured correctly and the users know what they're doing.

[@mahmoudalshami1557]

Hello Dobri, as you know that TB deffrenciate from company to other company so if I want to do my own by this file to link FS with TB i have to fill each item from our TB plz advise

[@MintyAnalyst]

Yes, you have to, but the beat part is that TBs don't change a lot, so once you set it up, next year/quarter/month, updating it is a breeze 😉

[@MintyAnalyst]

Yes, you have to, but the beat part is that TBs don't change a lot, so once you set it up, next year/quarter/month, updating it is a breeze 😉

[@bashudevmainali9022]

sir share this file

[@MintyAnalyst]

link in the description

[@kevinken2576]

oh

[@MintyAnalyst]

exactly ;)

[@bhavneshparikh8283]

Pl sand template

[@MintyAnalyst]

hi there, not sure what you mean...

[@bhavneshparikh8283]

Dear sir sand this sample file

[@PerryPahladsingh]

@@bhavneshparikh8283 the link is included in the video

[@mikek3409]

What’s with the music?! Great lesson though!

[@MintyAnalyst]

I honestly don't know, I guess I thought it was a good idea 3 years ago 😅