Math for Business Operations

Applied Accounting with Excel

UNIT02 - Lesson 1

Launch & Explore: CFO's Month-End Challenge

45 minutes
Lesson Overview

Lesson Focus

Introduction to month-end closing problems through authentic business perspective

Key Unit Objectives

Enduring Understandings:

  • Automation reduces human error and increases efficiency in financial processes
  • GAAP compliance requires systematic tracking of accruals, deferrals, and adjusting entries
  • User interface design determines the usability and adoption of financial tools
  • Time savings through automation creates competitive advantage for businesses

Lesson Activities

Activity 1: CFO Vlog: The Real Cost of Slow Closes
8 minutes

Watch CFO video explaining how slow month-end processes impact business operations

Details:

  • Students watch 5-minute CFO vlog about month-end closing challenges
  • Video covers: time costs, accuracy issues, staff burnout, investor relations impact
  • Students identify specific problems mentioned and their business consequences
The Business Case for Automation

Month-end delays have cascading business impacts

  • Delayed financial reporting affects investor confidence
  • Staff overtime costs increase operational expenses
  • Late closes delay strategic decision-making
  • Manual processes introduce human error risks
Video: CFO Confessions: Why Our Month-End Takes Forever (5 minutes)

A real CFO explains how their 2-day month-end close process creates bottlenecks, delays financial reporting, and frustrates the entire finance team. Learn about the hidden costs of manual processes.

Activity 2: Shoebox Receipt Challenge
15 minutes

Hands-on simulation of manual receipt sorting and processing

Details:

  • Teams receive pile of mock receipts (50+ items) to sort and categorize
  • Time themselves completing manual sorting and data entry
  • Calculate accuracy rate and identify pain points in manual process
  • Discuss how this scales with business growth and monthly volume
Activity 3: Team Formation & Automation Focus Selection
12 minutes

Form collaborative teams and choose specific automation challenge

Details:

  • Present the essential question and unit challenge
  • Form teams of 2-3 students for collaborative problem-solving
  • Teams choose which adjusting entry type to automate first (accrual, deferral, depreciation, or closing)
  • Initial brainstorming: What would 2-hour close time require?
Student Choice Pathways

Teams select their automation focus area

  • Accrual Specialists: Focus on revenue/expense accruals
  • Deferral Experts: Automate prepaid and deferred revenue
  • Depreciation Team: Streamline fixed asset calculations
  • Closing Masters: Perfect the closing entry process
Activity 4: Sprint Planning & Success Criteria
10 minutes

Establish team goals and success metrics for the unit

Details:

  • Teams define what success looks like for their chosen automation area
  • Establish time benchmarks: current manual time vs. 2-hour target
  • Identify potential roadblocks and resources needed
  • Preview the Innovation Fair demonstration format
Required Materials
  • CFO vlog video (5 minutes) with viewing guide
  • Mock receipt packets (50+ receipts per team)
  • Stopwatches for timing manual processes
  • Team formation materials and choice cards
  • Sprint planning templates
Differentiation Strategies

For Struggling Students

  • • Step-by-Step Macro Guides: Visual walkthroughs for macro recorder usage
  • • Pre-built Templates: Partial VBA code with clear modification instructions
  • • Simplified Scenarios: Focus on one adjusting entry type before expanding
  • • Peer Support: Pair with students strong in Excel automation skills

For Advanced Students

  • • Advanced VBA Functions: Error handling routines and user input validation
  • • Cross-Sheet Integration: Link multiple workbooks for comprehensive systems
  • • Custom Functions: Write UDF (User Defined Functions) for complex calculations
  • • Mentoring Role: Support other teams with technical troubleshooting

For English Language Learners

  • • Visual Interface Design: Use icons and graphics to supplement text instructions
  • • Technical Vocabulary Support: Accounting and Excel terms with visual definitions
  • • Collaborative Documentation: Partner with native speakers for user instruction writing
  • • Multiple Demonstration Formats: Video tutorials with visual emphasis over verbal explanation