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Week One - However it would have taken me at least five...

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I found Microsoft Excel to be an excellent accounting tool. It is very valuable as far as formatting and formulas are concerned, but as I just had to redo one of the exercises because of the human error factor, I can attest to the fact that it is only as good as the input made by the operator. As with all computer applications, “Garbage In Garbage Out” definitely applies. I simply mistakenly dragged my mouse over a cell containing a formula and moved the contents of that cell. As a result, the final calculation of my spreadsheet was wrong. This kind of error would not have happened had I been doing the calculations the “old fashioned” way with pen and paper.
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Unformatted text preview: However, it would have taken me at least five times as long to set up the financial statement and much longer to do even a little “dressing up” or formatting by hand. There are many functions built in to Excel to assist in minimizing accounting errors including all of the calculating formulas, spell check and AutoCorrect functions. However, a good accountant will understand nothing is perfect, and mistakes will occur, so prepare for them. The best way to avoid submitting work containing a mistake is to double-check your calculations a second time using a trusty ‘ole calculator....
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