Management Accounts Preparation 2025

About Course

This course provides a complete walkthrough of the management account preapration process, taking you from raw data to a finished, professional report. In this hands-on course, you will learn how to:

Distinguish between management account (for internal decisions) and financial statement (for external reporting).
Map a trial balance to efficiently structure your financial statements.
Prepare the core financial reports: the Income Statement, Statement of Financial Position ( $SOFP$ ), and Statement of Cash Flows ( $SOCF$ ).
Master essential MS Excel functions to automate and streamline your work.
Design a dynamic, interactive dashboard to visualize performance and support effective business management.

This course is designed to equip you with a complete, end-to-end skill set in management accounting. We provide you with the theory, the practical tools, and the hands-on experience needed to translate raw numbers into high-impact business intelligence. Whether you are starting your career or looking to upgrade your skills, this program will give you the confidence to handle any management reporting task.
By the end of this course, you will be able to:
Understand the core concepts of management accounting and its purpose.
Apply key MS Excel functions like data validation, VLOOKUP(), TEXT(), Custom Format, etc help analyze and prepare financial data.
Build the three primary financial statements: Income Statement, Statement of Financial Position (SOFP), and Statement of Cash Flows (SOCF).
Analyze financial performance and position using the reports you create.
Communicate your findings effectively by creating insightful notes and visualizations.
Design a dynamic dashboard from scratch that allows for interactive analysis and supports high-level decision-making.

Course Content

Course Overview

Introduction

04:40
Course Objective

03:18
Course expectation

12:02
Difference between management account and financial statement

22:14
Question on Interest coverage ratio

02:12
Solution to question on Interest coverage ratio

10:17
Skill set required in preparation of a management account

07:29
Data required for preparation of the management accounts

06:05
Explanation of terminologies

14:22
Question and Answer on data required in preparation of management accounts

04:43
Importance of preparing monthly management accounts

05:22
Component of a management account

11:56
Importance of management Accounts

07:25
Steps in preparing a management account and mapping of a trial balance

11:31
Mapping of a trial balance

05:34
Question and Answer on mapping a trial balance

19:41
Linking of trial balance to 3 primary financial statements

12:01
Linking of Trial balance to 3 Primary financial statements II

19:06
Illustrating the link between TB, FS Mapping and Income statement

07:09
Linking the Trial balance to FS Mapping

19:50
Critical balances for different industries

10:09

MS Excel for Management Account

Introduction to MS Excel functions and features

07:07
Question and answer on MS Excel functions and features

01:38
Reviewing of a management account

12:07
Question and Answer on Management account review

10:46
Reviewing of a management account II

03:47
Reviewing of a Management account III

08:52
Deciding an appropriate comparative

06:04
Deciding an appropriate comparative Q&A

10:28
Introduction to Cell referencing

07:43
Introduction to Cell referencing II

03:23
Question and answer on Cell referencing

08:42
Relative referencing

04:55
Question and answer on relative referencing

07:08
Mixed referencing

03:56
Mixed referencing Illustration

08:46
Question and Answer on Mixed referencing

05:39
Introduction to Functions

09:09
Illustration on IF function

04:58
Question and Answer on IF function

02:56
Understanding Year To Date (YTD)

10:13
Understanding Year To Date II

07:35
Understanding Year To Date from GL perspective

21:53
IF Function in Monthly Extraction

03:59
Monthly Data Validation List

05:01
Yearly Data Validation List

01:26
DATE and EOMONTH Function for deriving reporting period

05:32
Question and answer on DATE and EOMONTH

09:08
Custom Format for Positive numbers

11:05
Question and Answer on postive number custom format

05:37
Custom Format for negative numbers

04:49
Custom Format without currency or symbols

07:31
TEXT function for creating reporting period

05:24
Question and Answer on TEXT function

09:01
Using VLOOKUP function for searching in a trial balance

11:15
VLOOKUP function II

08:09
Question and answer on VLOOKUP Function

11:47
XLOOKUP Function

03:42
Application of SUMIFS Function on the Trial balance

09:12
Application of SUMIFS function II

14:56
Question and answer on SUMIFS Function

05:38
Using PIVOT features on Trial balance

07:57
PIVOT Features II

05:30
Question and Answer on PIVOT features

18:47
Question and Answer on PIVOT Features II

06:57

Case Study

Introduction to Case study

06:06
Question and Answer on Adjusted Trial balance

04:30
Creating Initial and Data Validation Sheet

05:26
Creating Reporting period and Comparative period on Data Validation Sheet

06:20
Question and Answer on reporting and comparative period

27:01
Naming of Cell

27:01
Question and Answer on naming of cell

13:30
Creating the cover page

05:39
Question and Answer on creating the cover page

10:20
Creating multiple similar sheets

04:38
Question and Answer on creating multiple sheets

15:09
Creating Table of Content with Hyperlink

06:33
Question and Answer on Creating Table of Content

04:27
Creating Table of Content II

10:37
Importing the Trial balance

16:02
Questions and Answers on creating Monthly and YTD Trial balance

22:54

Creating the Monthly Trial Balance and FS Mapping

Overview of Template Creation

02:54
Creating the monthly trial balance structure

06:35
Question and Answer on creating the monthly Trial balance

08:25
Populating the Monthly Trial balance

09:53
Populating the Monthly trial balance II

23:19
Understanding FS Mapping and using AI for Industry context

16:20
Questions on using CRAFT prompt in Gemini

11:34
Creating Income statement and SOFP structure

15:50
Questions and Answer on creating Income statement and SOFP structure

24:35
Creating the notes structure

05:51
Illustrating linking of TB to 3 primary financial statements

05:28
Creating the FS Mapping

15:09
Creating the FS Mapping II

04:51
Creating the FS Mapping III

05:01
Question and Answer on Creating the FS Mapping

19:59
Populating the FS Mapping with VLOOKUP

13:38
Question and Answer on populating the FS Mapping

08:59
Illustration on FS Mapping populating YTD

07:41
Populating the FS Mapping for monthly TB using VLOOKUP

10:07
Question and Answer on Populating FS Mapping for Monthly TB

06:19

Creating the Notes, IS and SOFP

Adding a new GL and error handling for a GL that is not present

07:03
Recap on mapping the FS

08:35
Populating the FS Mapping Sheet

07:36
Question and Answer on populating the FS Mapping

03:45
Populating the Notes I

09:30
Question and Answer on populating the Notes II

04:16
Deriving Year to Date from monthly Figures

11:07
Question and Answer on populating Notes

06:55
Populating Notes for cost of sales

05:32
Question and Answer on populating the Notes III

10:18
Number formatting for Notes

05:16
Populating Notes for OPEx, Depreciation and other lines

11:44
Question and Answer on populating the Notes IV

15:12
Populating the Notes for SOFP item I

12:35
Populating the Notes for SOFP item II

05:44
Creating the Income Statement (Year to Date)

06:10
Question and Answer on Creating IS YTD

06:36
Creating the Income statement II

01:53
Creating the SOFP

06:41
Question and answer on creating the SOFP

09:42

Creating Comparatives, Variance Analysis and SOCF

Recap on IS and SOFP

38:12
Adding Comparative Figures and Variances

11:56
Question and Answer on comparative budget and variance amount

05:37
IF error for variance % and adding commentary to IS variances

08:39
Adding budget comparatives and using custom format for variance percentage

10:03
Question and Answer on custom format for variance in percentage

19:33
Creating Monthly Income Statement

15:12
Question and Answer on creating monthly Income statement

13:18
Creating TB, FS Mapping and Note for comparative SOFP

07:22
Question and Answer on TB, FS Mapping and Note for comparative SOFP

16:53
Adding comparative Variance figure and variance percentage for SOFP

07:23
Questions on Comaparative SOFP

15:50
Question and Answer on Comparative SOFP and retained earnings

01:01
Creating the monthly retained earnings

01:35
Creating the monthly SOFP from the notes

15:03
Question and Answer on Monthly SOFP creation

01:39
Understanding the fundamentals of SOCF preparation

14:37
Questions and Answer on SOCF fundamentals

06:00
Question and Answer on retained earnings monthly Calculation

02:35
Industry specific Income statement and SOFP Templates

07:15
Financial ratios for Income Statement

07:55
Question and Answer on Income statement financial ratios

02:16
Financial ratios for SOFP

04:08
Question Answer on financial ratio for SOFP

03:30
Statement of Cashflow Overview

07:24
Creating the Statement of Cash flow

07:08
Understanding SOFP movemments and its implications on SOCF

09:08
Question and Answer on SOFP movements and its implication on SOCF

08:13
Operating activities in SOCF

19:34
Understanding the Operating activities

11:55
Financing and Investing activities and their movements

12:41
Question and Answer on SOCF preparation

13:19

Creation of Dashboard and KPIs

Introduction to dashboard and KPIs

06:55
Identifying and Formatting the KPIs

06:16
Question and Answer on Intro to Dashboard and KPIs

06:05
Formatting KPIs in box

04:05
Populating KPI and Formatting

01:39
Populating box with KPI data

05:40
Creating Pivot Table from sales data for charts

05:47
Question and Answer on Pivot and Chart creation

01:49
Formatting numbers and creating sales chart

11:05
Question and answer on creating Pivot Table

05:54
Financial ratios on dashboard

09:48
Walkthrough of final management account template

05:43
Question and Answer on sales chart

03:25
Assessment
Final case study assessment

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About Course

What Will You Learn?

Course Content

Course Overview

Introduction

Course Objective

Course expectation

Difference between management account and financial statement

Question on Interest coverage ratio

Solution to question on Interest coverage ratio

Skill set required in preparation of a management account

Data required for preparation of the management accounts

Explanation of terminologies

Question and Answer on data required in preparation of management accounts

Importance of preparing monthly management accounts

Component of a management account

Importance of management Accounts

Steps in preparing a management account and mapping of a trial balance

Mapping of a trial balance

Question and Answer on mapping a trial balance

Linking of trial balance to 3 primary financial statements

Linking of Trial balance to 3 Primary financial statements II

Illustrating the link between TB, FS Mapping and Income statement

Linking the Trial balance to FS Mapping

Critical balances for different industries

MS Excel for Management Account

Introduction to MS Excel functions and features

Question and answer on MS Excel functions and features

Reviewing of a management account

Question and Answer on Management account review

Reviewing of a management account II

Reviewing of a Management account III

Deciding an appropriate comparative

Deciding an appropriate comparative Q&A

Introduction to Cell referencing

Introduction to Cell referencing II

Question and answer on Cell referencing

Relative referencing

Question and answer on relative referencing

Mixed referencing

Mixed referencing Illustration

Question and Answer on Mixed referencing

Introduction to Functions

Illustration on IF function

Question and Answer on IF function

Understanding Year To Date (YTD)

Understanding Year To Date II

Understanding Year To Date from GL perspective

IF Function in Monthly Extraction

Monthly Data Validation List

Yearly Data Validation List

DATE and EOMONTH Function for deriving reporting period

Question and answer on DATE and EOMONTH

Custom Format for Positive numbers

Question and Answer on postive number custom format

Custom Format for negative numbers

Custom Format without currency or symbols

TEXT function for creating reporting period

Question and Answer on TEXT function

Using VLOOKUP function for searching in a trial balance

VLOOKUP function II

Question and answer on VLOOKUP Function

XLOOKUP Function

Application of SUMIFS Function on the Trial balance

Application of SUMIFS function II

Question and answer on SUMIFS Function

Using PIVOT features on Trial balance

PIVOT Features II

Question and Answer on PIVOT features

Question and Answer on PIVOT Features II

Case Study

Introduction to Case study

Question and Answer on Adjusted Trial balance

Creating Initial and Data Validation Sheet

Creating Reporting period and Comparative period on Data Validation Sheet

Question and Answer on reporting and comparative period

Naming of Cell

Question and Answer on naming of cell

Creating the cover page

Question and Answer on creating the cover page