Computer Software and Applications
Basic to intermediate knowledge of Excel.

Course Description

Excel Time Value of Money Functions for CPAs uses practical examples to provide an overall understanding of time value of money concepts and to illustrate time value of money functions in Microsoft Excel. The course covers present and future values of both single sums and annuities as well as computing the rate, periodic payment, and number of periods in accounting and financial planning scenarios. Also included is the creation of an amortization table, Excel CUMIPMT and CUMPRINC functions, capital budgeting, and the use of data tables. Step by step instructions are provided; however the course does not include exercise files as the examples are simple and easy to recreate.


Joseph Helstrom, CPA

Joseph Helstrom, CPA, is a partner at CFO Resources, LLC, a company focused on training and courseware for CPAs. He’s also the owner of Mill Creek Publishing LLC. Joe has over 30 years of experience as a CPA in both public accounting and industry, with extensive experience in financial reporting and analysis, treasury, tax, information technology, legal and regulatory matters, and strategic planning.

After graduation from Butler University with a degree in accounting, Joe got his start at Ernst & Young. Subsequent to that, he has served for several different companies as a chief financial officer; director of treasury and tax; controller; and manager of financial planning, reporting, and analysis.

Joe and his wife, Patricia McCarthy, produce self-study courses for Western CPE and have published articles in Missouri and Texas CPA society publications titled “Incorporating Excel Arrays into Your Audit Plan.”

Course Specifics

Computer Software and Applications
Jan 11, 2018
Basic to intermediate knowledge of Excel.
Excel 2007 and higher.

Compliance Information

Qualifies for CA Fraud: No

Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Identify time value of money concepts and Excel's sign convention.
  • Recognize the components and function arguments of Excel time value of money functions.
  • Calculate the present value of a single sum, the future value of a single sum, the present value of annuities, and the future value of annuities.
  • Calculate rate, number of periods, and payment.
  • Calculate the cumulative interest payment for a time period and the cumulative principal paid for a period.
  • Calculate internal rate of return and net present value.
  • Recognize the use of data tables to analyze and calculate alternatives.

Table of Contents

Learning Objectives

Time Value of Money Concepts

Understanding Excel Time Value of Money Functions

Present Value of a Single Sum

Future Value of a Single Sum

New Single Sum Functions

Present Value of Annuities

Future Value of Annuities

Computing the Periodic Payment

Computing the Rate

Computing Number of Periods


Annuities Due

Evaluating Uneven Cash Flows—Capital Budgeting

Using Data Tables

Review Questions

Review Question Answers and Rationales



Qualified Assessment

Answer Sheet

Course Evaluation

Choose Your Preferred Format

Online Access

Get immediate access to a robust collection of learning and reference materials, allowing you to dive deep into the information you need. Our self-study materials are authored by top-quality, industry experts who focus on helping you grasp concepts quickly using real-life examples. Download your CPE to any device, and take it with you so you can learn when and wherever you want. Complete your CPE with an online exam, and enjoy instant grading with the option to print your certificate immediately upon passing.

online access
Hard Copy

Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.

hard copy
Self-Study Video

Experience high-quality instruction with our Self-Study Videos, available to you 24/7. With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. Unlike a live course or webcast, you can complete the course on your own time, playing and pausing as needed. Self-Study Videos allow you to complete your CPE requirements on your own time.

hard copy

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