I undertook a tutorial from https://corporatefinanceinstitute as I wanted to grow my knowledge of using Excel to organize and sort data advanced two-dimensional Pivot tables. While using the Pivot Table, it is important to appreciate its role data presentation especially with the details on the types of items, the sum of data within each column, and the averages within the columns. By using the Pivot Table, it is possible to convert data in a large table into smaller sortable tables, which are easy for analysis, interpretation, and drawing of conclusions (Corporate Finance Institute, n.d). This is important to accountants when they want to know the most sales made, or the most performing branches, or the hardworking sales representatives just to mention a few relevant examples in this field. The following screen grab shows a condensed table attained using a pivot table in Excel.
The tutorial started first with the emphasis on organizing the data within the Excel sheet in a way that it would be easy to handle using the Pivot Tables functions. While practicing with it, I realized that it was important to organize them properly lest the pivoting process would not yield the desired results. The categorization at the top row for the data in the subsequent columns was important (Corporate Finance Institute, n.d).
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The next step involves inserting the pivot, which is possible only after selecting the data within the table. Pivot tables are unique in accounting and other operations because of the ease to extract data from the Excel. Upon deployment, it is to check Barnes’ data from February 2016 and even the totals for the same year with a mouse click (Imarticus Learning, 2017).
One of the most important things relates to deciding where you will place the table when the dialog box pops up. In my case, I opted to have a new independent worksheet altogether although I could have opted to work within the already existing sheet. In this tutorial, I also appreciated the drag and drop options that were available while I was setting up the fields using tick boxes. This was important in deciding on the items to appear in the pivot table that I was preparing. This process helped me in preparing a basic pivot table but I had to go ahead and sort the information using the various options as the data could permit. As the tutorial would show, I had to use the used additional sort options where I could not find the sorting parameters that I wanted (Corporate Finance Institute, n.d). The drop-down menus within the new tables were invaluable in data sorting and interpretation. I was also able to try the data filtering option just as a way of enhancing my data sorting process. I achieved this by using the “channel” category in the options available from the box appearing just above the pivot table.
I also learned the importance of grouping the data into categories such as dates, currency, and numeric values among others because it enhances the interpretation of data during sorting. To do this, one can right click on the right column within the table and upon selection of the “group” or “Grouping,” the values to be selected will pop up. Select appropriately just I would choose Months or Currency in my case (Imarticus Learning, 2017). However, it is impossible to group data if the original table contains a value that does not fall into the category selected. For instance, if the currency’s table contained a “word” value instead of “numeric” value, a ‘Cannot Group that Selection’ error will occur. All you have to do is correct the original table and repopulate or refresh the pivot table. Lastly, I realized that it is important to add or delete values in the pivot table with ease. Just as I was rectifying the group selection problem, I did not have to create a new table. Instead, I made changes in the original table and refreshed the already pivot table (Corporate Finance Institute, n.d).
Lessons Learned While Taking the Tutorial
The tutorial consisted of four segments presented in YouTube from a website redirection. The series was short and simple regarding language, visual impression, and instructions. They were elaborate including the basic details required pivot table preparation. It involved opening an Excel sheet, entering details in each cell, and the insertion of pivot tables including the subsequent sorting process of data. This is important to accountants because it is a time-saving feature. Moreover, it helps in identifying parameters that aid in distinguishing the data and drawing conclusions (Kimmel, Weygandt, & Kieso, 2010).
References
Corporate Finance Institute. (n.d). Excel Pivot Table Guide: Step by step tutorial. Corporate Finance Institute . https://corporatefinanceinstitute.com/resources/excel/study/pivot-table-guide/
Imarticus Learning. (2017). Microsoft Excel Tutorials | Advanced Excel - Pivot Tables
Kimmel, P. D., Weygandt, J. J., & Kieso, D. E. (2010). Financial accounting: tools for business decision making. John Wiley & Sons.
