Why Does an Accountant Use a Spreadsheet?
Last Updated Apr 5, 2020 11:44:52 PM ET
An accountant uses a spreadsheet to carry out complex calculations quickly through the use of cell functions. This is particularly helpful if the data in a column continually change because it saves time. If a formula is already plugged in with cell numbers, the final figure updates automatically.
Besides calculating basic financial data, accountants use spreadsheets to make forecasts based on predicted data. They can plus in different numbers to see how costs or revenue change based on new data. Also, accountants use spreadsheets to show data visually. Charts and graphs are more useful for presentations than tables of data. Finally, accountants use spreadsheets for databases, such as customer lists and relevant contact information.
More From Reference
How Do You Apply for Social Security Benefits?
How Did the VW Beetle Become an Emblem of the '60s?
We Explain the Complicated History of Myanmar and Aung San Suu Kyi
Financing the Future: Setting Up Savings Plans for Grandchildren
Responsible Retirement: What's the Maximum Amount You Can Contribute to a 401(k)?
10 Small Business Grants for Women Entrepreneurs