In the first two weeks of this program, I have gained an extensive amount of knowledge that will help my future endeavors into the business world. This knowledge was only further enhanced by the teaching of a graduate of this college, Will Weber ’11, came into our LABB program to put us through a Financial Bootcamp.
As part of his class, we learned about the mechanics of Microsoft Excel and how to create an income statement, balance sheet, and cash flow. During this Microsoft Excel crash course, we learned many formulas, shortcuts, and other helpful tips that will allow us to work much faster on our own Excel projects in the future. During the process of learning about Excel, Will Weber we formulated the income statement, balance sheet, and cash flow for a shoe store inside a mall through the use of the formulas and referencing other cells. He emphasized the importance of connecting information so that it was significantly easier and quicker to change information. By referencing cells, we were able to make a change to one value and have Excel automatically make changes to all the other information for us.
By creating the statements involved in forming a budget, I was able to form my own financials for the restaurant business plan. As I was worked on forming the income statement, balance sheet, and cash flow, I found the shortcuts and tips that Will Weber gave us very helpful. The insight he provided about his own job and how he uses Excel was beneficial in that it showed us how this information could be used in the real world on a daily basis.
Prior to this week, I was not very sure as to how Excel played a role in the business world, but now I realize that it plays a crucial role in almost every business. As I have began to work in Excel and create financial documents, I have found that it is interesting how every number relates to another number and have found enjoyment in changing individual values to see as to how they change the values in the entire spreadsheet. I would like to thank Will Weber ’11 for putting us through his Financial Bootcamp and taking time from his schedule to educate myself and my fellow Wabash men. I would also like to extend a special thanks to the Lilly Endowment for making this opportunity possible for both myself and everyone else involved in this program.