ipl-logo

Microsoft Office Excel Research Paper

2092 Words9 Pages

Abstract This research is intended to elucidate the role of Microsoft Office Excel for Accountants plus the features behind its proclamation as the suitable and reliable software application for accounting processes. Also, the functions of the said accounting software towards the excellent accounting proficiency were accentuated. In order to rally reliable facts and figures, the researchers conducted a survey using stratified sampling. They had selected students in higher years under the programs of Accountancy and Accounting Technology. After garnering their responses, it is concluded that Microsoft Office Excel is indeed the best software application for Accountants as well as for the complex process of accounting. Nevertheless, this software …show more content…

Although Microsoft Excel is a powerful program, will it be enough? Considering that accounting is a process that requires meticulous execution and pinpoint data accuracy, will Microsoft Office Excel do well? Through this study, find out the pros and cons of the said software and its contribution in the world of accounting as well as to business and economic world. It is also intended to compare and contrast Microsoft Office Excel with other software like Open Office. Hence, composition of a comparative table is necessary. Also, this study intended to elucidate the part of Microsoft Office Excel towards achieving precise and accurate financial statements. This will also serve as a reference for students how to use Microsoft Office Excel for basic accounting processes. This could also serve as a guiding tool of the other researchers with regards to the topic. Moreover, this study could help the researchers themselves in the latter part of their chosen …show more content…

Forecasting business budgets can be difficult, but trend analysis in Excel is one popular method that, if done right, can simplify the process” Tech Target (2012) stated. Indeed, the basics of this software can lead to culturing of more complex features. Aside from being a number-friendly application, it can also be functional for forecasting business endeavours and future business tactical plans. According to Fransier (2011) “Excel was practically made for accountants”. Aside from being the useful tool in business world, Microsoft Office Excel had been primarily fashioned for the meticulous profession of accountants. Hence, the creation of the said software is to intentionally make the career of the accountants and other related careers better to accomplish and more comprehensive results are obtained. According to IRS publication 583, “Except in a few cases, the law does not require any specific kind of records”, indeed, the system for recordkeeping for entrepreneurs can be opted by themselves. Numerous individuals and business forms choose Microsoft Office Excel over other software with regards to the record keeping of business data.
Results and

Show More
Related

  • Document Analysis Worksheet Answers

    808 Words  | 4 Pages

    Name: Date: Document Analysis Worksheet 1. Title of the document: Answer: Mexican Americans Form La Raza Unida, 1968. 2.

    Read More

  • Hcs/531 Week 4 Health Care Paper

    1417 Words  | 6 Pages

    When being placed in the role of a manager, it is important to understand the finances of the organization and how to read and understand the recording of finances. It is also important to understand how all the different parts of the records fit together to give us the knowledge of where the business is financially. Knowing also the different responsibility centers related to financial recording and how they function is important as a manager. Once a manager understands what and where items belong on a balance sheet, they will better understand the state that the business is in. “It provides you with a picture of the financial health of your practice or organization on a certain date.”

    Read More

  • Examples Of Major Works Data Sheet

    1984 Words  | 8 Pages

    OHHS AP/Pre-AP English Name: Makayla Ortiz Per. 4 Major Works Data Sheet: Fiction (Updated 10/18/2011) Note: Cite references in MLA format, in-text, and parenthetically. Complete a Works Cited page of all references used.

    Read More

  • Homeroom Research Paper

    503 Words  | 3 Pages

    Homeroom Reflection Junior year I have grown as a student this semester by watching the mala movie. This has helped me grow as a student because it showed me how just one voice can change so much in a community. From this experience I learned how Mala was an ordinary girl but who ones spoke up for what she believed was right for her community and the people all around her. After she started to change her community on a positive way for example, have more schools so students can have an education and making sure girls were able to attend school more often. Therefore, when she spoke up for what she thought was right and changed people 's life there was some who didn 't appreciate what she was doing so decided to shot her and ended up shooting her on her forehead.

    Read More

  • Unit 5 Integration Paper

    425 Words  | 2 Pages

    One scenarios would be keeping track of your forecasting in a restaurant. In this business of the biggest things as a manager is forecasting futures sales and planning a budget based on this information. Using the skills that I have learned in Excel, I know that I could make a chart that expressed how much sales I think I would be getting and what my budget for things like labor cost, food cost, and my other costs would be. With this information so easily displayed and calculated, I could easily decide on how many people to schedule (which I could also do in Excel), how much product to order (I can keep track of my stock with Excel too). All of these things I can do in Excel to make sure that my book are kept neat and clean and that the information that I need is always a click away and would be easily understood by anyone who needed to see

    Read More

  • Being A Medical Assistant Essay

    1277 Words  | 6 Pages

    When recording financial activity of a business, “any increase in expense (debit) must be offset by a decrease in assets or an increase in liability (credit)” (Routh 464). Any expense for any office supplies decreases cash or increases accounts payable. Each account is assigned a number to enter data in a list of categories “to track the sub-accounts of assets, liabilities, income, expenses, and equity” (Routh 464). This is a way to bookkeep the charts of accounts.

    Read More

  • Wgu Audit Task

    529 Words  | 3 Pages

    Clients must keep records and books of accounts including cash book, sales ledger, purchases ledger and general ledger. Supporting documents such as invoices, bank statements, pay-in slips, cheque butts, and receipts for payments, payroll records and copies of receipts issued should be retained. A valuation of the stock in trade should be made at the end of the accounting period and the appropriate records maintained. Company should record sufficient to explain each transaction and to enable a true and fair profit & loss account and balance sheet to be prepared. At the end of the accounting period, a physical stock-take should be made to ascertain the quantity and the cost of the stock in hand or the cost of work in progress statements and

    Read More

  • Swot Analysis Of Lego A/S

    1758 Words  | 8 Pages

    INTRODUCTION Within this paper, Lego A/S is the delegated company of choice for conducting an analysis report on the business’s financial position and financial statements. To begin this paper, an overview firstly explains the Business Model which strategically describes the rationale of the business creating, delivering and capturing value, composed over nine building blocks, in a written format. Next, it continues on to the Pricing Strategy, to understand the nature of the pricing policy adopted by the business and to analyse the economic and financial environments associated with the policy adoption. A forecast and projection analysis next succeeds, to identify the projection technique deemed most appropriate for forecasting the business’s

    Read More

  • The Importance Of Accounting Memo

    1616 Words  | 7 Pages

    Analysis • This section is regarded as the most critical step in writing an effective accounting memo by bringing together the required facts of the research, any supporting authoritative literature, and an accountants overall evaluation before forming a conclusion. • Analysis includes information from relevant guidance, along with an accountant’s own words about how the guidance is applicable. • The memo should contain enough authoritative guidance that the user will not need to perform additional research in the Codification. • Make sure to utilize the concept known as the “guidance sandwich.”

    Read More

  • Essay On Pro Forma

    552 Words  | 3 Pages

    In 2002, the SEC adopted new rules and amendments to address public companies’ disclosure or release of certain financial information that is calculated and presented on the basis of methodologies other than in accordance with generally accepted accounting principles. The accrual accounting is more popular and be widely used in business world because it produces more accurate and faithful financial statements that constitute better representation of actual circumstances than its main competitors. The major weakness of accrual accounting is that there is some time issue such like the time of occurred and time of recorded would probably be different and it increases the risk of financial information and the risk of correctness. Also, the accrual accounting generally cost more to operate compared with cash accounting

    Read More

  • Ll Bean Case Study

    1854 Words  | 8 Pages

    L.L. Bean. Inc Item Forecasting and Inventory Management Executive Summary L.L.Bean, Inc. has been a trusted source for quality apparel, reliable outdoor equipment and expert advice for over 100 years. Founded in 1912 by Leon Leonwood Bean, the company began as one-man operation. With L. L.'s firm belief in keeping customers satisfied as a guiding principle, the company eventually grew to a global organization with annual sales of $1.56 billion. The company headquarters are in Freeport, Maine, just down the road from the original store.

    Read More

  • Southwest Airlines Management Accounting System

    1505 Words  | 7 Pages

    Introduction: Here in this assignment a management accounting report needs to be prepared for analyzing how management accounting can be useful in providing the managerial information for the purpose of decision making. The organization selected to make this analysis is Southwest Airline. It is a management accounting report in which starting from the background of the company, the management accounting system of the company has been analyzed and how its’ providing the information for the purpose of management decisions being evaluated. Background of the company: Southwest Airlines was shaped in 1978 with reason to serve voyaging service via air course. What's more, after consolidation southwest aircrafts persistently succeed regarding productivity, great worker and union connection and consumer loyalty.

    Read More

  • Tesco Accounting Report

    1656 Words  | 7 Pages

    However, financial performance subsists with different levels of organisation, which is concerned with measuring financial performance of organisation. These measures are categorised into four that includes profitability, gearing, liquidity or working capital, and investor ratios. However, the financial plan of organisation is associated with operating plan since financial plan involves revenue and expenses for the activities that are linked with each objective. Hence, the main reason, in monitoring financial plan is to audit the committee (Hasan, 2011).

    Read More

  • Accounting Information System Literature Review

    1372 Words  | 6 Pages

    This data can be used to preparing the accounting statement and reports. (Fontinelle, 2017).Accounting Information System is used for to produce the external stories related to the financial statement, supported through routine activities, Decision Support and Planning and Control, Implementing internal control. Accounting Information roles are classified into External Auditor, Tax Accountant, Consultant and Internal Auditor, Business Analyst, Budget analysts, Financial Analyst, controller and Accounting Clerk. It is discussing the future, and current role of Accounting Information system is analyzing by accountant responsibility and financial

    Read More

  • The Importance Of Accounting In Personal Finance

    748 Words  | 3 Pages

    Introduction Keeping record of activities and expenditures is crucial in personal finance planning and could really help in managing personal finances. This paper identify what is accounting and how does it help to manage personal finance, describes products of accounting and bookkeeping procedures that are useful in personal financial planning and how personal financial software could assist in personal financial decisions. What is accounting and how does it help you manage your personal finances?

    Read More

More about Microsoft Office Excel Research Paper

Open Document