Lesson ProgressPhase 4 of 6
Phase 4Independent Practice
Independent Practice: Project Rehearsal: Three-Statement Workbook Audit

Complete weak spots and identify what must transfer to the project

🛠️ Phase 4: Polish and Transfer Practice
Complete and Polish the Shared Workbook

With teacher guidance, complete the remaining weak spots in your rehearsal workbook. This is not open-ended - you are practicing the structure that your project will use.

Polish Checklist

Recommendation

Ensure the executive summary states a clear recommendation with supporting numbers

Check: Can you point to one sentence that says what to do and why?

Evidence

Verify all numbers in the recommendation trace back to a source sheet

Check: Can you click any number and trace it to its origin?

Risk

Add at least one limitation or risk factor (e.g., 'based on X% growth assumption')

Check: Is there a statement that acknowledges what could go wrong?

Links

Confirm cross-sheet formulas are working (change an input, watch the output update)

Check: Does changing a growth rate update the Dashboard KPIs?

Balance

Verify the balance sheet balances (Assets = Liabilities + Equity)

Check: Is the accounting equation satisfied?

Require Both: Recommendation AND Risk

A complete project includes both a recommendation and a limitation. You cannot have one without the other.

Recommendation

"We should expand because ROI exceeds 15%..."

Risk/Limitation

"...if revenue growth stays above 10%. If growth slows to 5%, the project breaks even."

What Must Transfer to Your Project

Next lesson, your team gets its own business scenario. You must recreate these features:

  • All five sheet names and their purposes
  • The recommendation → evidence → risk structure
  • The Definition of Done checklist
  • The three-statement linking logic (income → retained earnings → cash flow)
  • The dashboard layout and KPI display
  • The peer audit criteria

Question to answer: Which feature from today's rehearsal will be hardest to recreate with your own data? Why?

Self-Assessment: Definition of Done
  • All five sheets present with correct names
  • Executive summary has one clear recommendation
  • At least one risk or limitation stated
  • Balance sheet balances (A = L + E)
  • Three statements are linked via formulas
  • Dashboard shows at least 3 KPIs with labels