![]() ![]() Therefore, it is very much important for accounting professionals to have mastery of Microsoft Excel to carry out their tasks successfully. Almost all the activities relating to Financial Accounting, such as, preparing Journal, Ledgers, Schedules, Trial Balance, Income Statement, Balance Sheet, Cash Flow Statement or other tables can be performed with the help of excel in an easy and efficient manner. If he has proficiency in excel, he can make his assigned tasks easier while producing the results efficiently. It depends on an accountant’s knowledge and understanding about MS Excel. Just right after you insert the formula and copying it to the required rows or columns, you can get the results successfully. In doing so, you need to take great pains if you do the task manually, but the same task can be accomplished within a few minutes. ![]() Just to give an example, there are times when you need to compute depreciation of required number of years for fixed assets that may be innumerable. In this way, excel will produce the intended results in the required number of cells in an accurate manner.Įxcel is well suited and capable for supporting the accounting professionals in performing their accounting related calculations as well as making Financial or Journal entries. Subsequently, the formulas can be copied and pasted. Microsoft Excel can perform calculations or computations much faster, the only thing that is required to insert, in the particular cells, are the correct formulas that are needed for the number of rows and columns in case of payrolls or various schedules. There are some basic functions and formulas that one needs to know and understand well in the beginning, so that the various tasks, that are supposed to be carried out in Financial Accounting process, can be performed quickly and accurately. ![]() It is a spreadsheet software application having rows and columns by which you can make use of various computations or calculations. A lot of tasks can be accomplished by using Excel efficiently. Microsoft Excel has a great application in Financial Accounting. ![]()
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