From the course: Excel for Accountants

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Tracking business performance in Excel

Tracking business performance in Excel - Microsoft Excel Tutorial

From the course: Excel for Accountants

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Tracking business performance in Excel

- [Instructor] Accountants need to not only be able to offer summary cost and profit information, but they also need to be able to track firm performance and, in many cases, make recommendations based on that performance. And this is exactly where Excel shines. We'll take a look at doing just that in the 02_06_Begin Excel Exercise Folder. I'm here on the Monthly Budget Summary tab. And what we see is that we've taken the information about the firm and we've broken it down into a few different categories. So we have the firm's income, estimated versus actual, their personnel expenses, estimated versus actual, their operating expenses, estimated versus actual, and then we have some ratios of interest. Now, Excel is great for doing a few things. First of all, one of the key areas that accountants are often asked to deal with are accounting variances. Essentially, what do we actually spend on something or generate from a particular product versus what did we estimate we were going to do?…

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