Throughout this semester we have been doing a lot of hands on work with Microsoft Excel. Being an accounting major I find all the work we do in excel to be very useful. By now we should all have a general understanding of accounting, and how businesses use accounting to plan their activities. In planning, a company must be sure that the financial information is both accurate and organized in order to ensure that management is making the best decision for the company.
The link above shows how excel can be used in a business. You are able to organize the data and refer to it in the decision making process. For example, let’s say you are the president of a company. As the president you make major financial decisions for the company and you rely heavily on the accounting and financing departments. Excel is an easy way to organize data such as: cash, accounts receivable, sales information, purchases, budgets, etc. This information can be helpful when deciding which programs, products, or departments to finance (or cut). This is just one way excel data can help a business.
As we previously discussed in class excel can be used to help you manage your personal finances. The use of budgets and pie charts gives you a break down of how you money is spent. You can use this information to adjust your budget in an effort to increase savings, and decrease wasteful spending. The video above shows how to make a basic budget in excel.
In summary, we see that excel can be used both in a professional setting and in a personal setting. It is important that we learn excel so that we can be competitive in a professional setting and efficient in a personal setting. We have many resources available to us (i.e Youtube, Google, etc.). Use these resources to improve you skills in excel and plan out a better future for yourself. It is very important in this economy.
I agree. Using excel has helped me to organize data for homework assignments and to help me budget my money.
ReplyDeleteBeing able to use Excel is something that will be mandatory for the corporate world. It is one of the most used computer programs out there. Over this past summer, I was a marketing intern for CenturyLink telecommunication company and most of my work was done on Excel. Just being able to use basic functions within the program say a lot and is great skill to have. I feel anyone who plans on going into the corporate world needs to have some sort of Excel experience.
ReplyDelete