Description

Excel Financial Case Information

1)      Using any professional/detailed Excel budget template or create your own! – create a professional personal budget.  It must be professional and based on 12 months!!  This means…. you will have 13 worksheets…one for each of the 12 months, and an overall/annual budget with an analysis!  Make sure you have actual and budgeted data in your Excel file.

2)      Go to https://www.wikihow.com/Make-a-Personal-Budget-on-Excel for help on how to create a personal budget using an Excel template. You may create your own but it must be complete and include all the required components.  Note: Do not download information from this site since you may be charged for it.  Every student gets a free Excel program download see below (#3).

3)      For a free download of Microsoft office go to https://daytonastate.edu/help/   

Scroll down the web page to find the download link!

4)      Submit your completed personal budget which must include income and expense categories for 12 months as well as an actual vs. budget analysis to the Assignment link – Excel Financial Case

·         Your analysis must include corrective action…why did you have a negative income/expense variance, how will you correct it for the next year, etc.

·         Late work is not accepted in this course so make sure to submit before the deadline!

·         Your computer clock may not be the same as the College’s computer clock so do not wait until the last minute to submit

·         Make sure to check your submission prior to the deadline to verify it is the correct file, not corrupted, and meets the requirements of the assignment.

·         Remember your budget must include an analysis of why there was a variance from budgeted income and expenses to actual income and expenses.

·         Post discussion questions and/or read other posts for clarification on this assignment.  There is a designated discussion forum for this assignment.

RECAP:

All of your work must be submitted to the Assignments link/folder labeled Excel Financial Case in our Falcon online course by the deadline to receive a grade on this assignment.

·         You will submit your completed professional personal budget using an Excel template or an Excel file you create which must include and complete and thorough income and expenses for 12 months (each month & annual/overall budget-13 worksheets) with actual and budgeted information.  Also, make sure you have an analysis of your budget versus actual results and why there was a difference!

Formatting for your document must include professional formatting, formulas where appropriate, as well as tables, graphs, and/or charts

Example Analysis:

Below is the specific format you will use to identify, explain, and correct the unfavorable variances:

Example:  Budget for gas was $500 and actual gas cost was $700, the unfavorable variance of $200 is due to an increase in the cost of gasoline.  

Identify Variance) The expense category for gas was unfavorable by $200. 

Explain Variance) This variance is due to an increase in gas prices from $3.48 to $3.60 per gallon.

Corrective Action) I (our household) will limit unnecessary trips which would require me to use more gasoline in my car in the upcoming year.

The analysis is the point of the assignment; therefore, no analysis or weak analysis will negatively affect your grade on this assignment!