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Importance of Excel in Financial Maths

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Submitted By jnjuki
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Importance of excel in financial mathematics
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When preparing financial records it is important to know how to make them professional for people and organizations. Most time is spent in the ledger and report preparation, it cannot be done without the good knowledge of preparing business records manually, however it is more simple to do it in Excel (Reeve, Warren, & Duchac, 2012). Most people use simple Excel functions such as add, multiply, divide and subtract to do simple financial mathematics; Excel has more advanced formulas and functions that can be used to do more in the preparation of financial accounting records. Advanced functions and formulas in excel are reliable in preparing spreadsheets and data manipulation, one is VLOOKUP it aids in information search about product information by use of a unique product id, HLOOKUP also helps to find product information, it does so vertically. Many people think that proper thinking and planning is not only what makes a business successful, but business accounting records are important. Business accounting records are used in a business to identify cash flow in a business. These Business accounting records are prepared in Excel.
There are a few simple steps involved in preparing business accounting records in Excel, first is the preparation of a ledger book, then entering the records in a spreadsheet and ensuring they are well balanced. In preparation of business reports there are a few steps were taken, first preparation of the records in an excel spreadsheet, after spreadsheet are complete a few steps are followed to create a report wizard excel, Excel skills are as well important in doing this, once the report has been prepared the reports can further be simplified by using simple Excel shortcuts to give short and easy to understand reports (Nugus, 2010).

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