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Accounting Paper

Accounting

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Accounting

Online forms

Online forms could be created using different ways. The different methods are determined by the version of Windows being used. Some forms do not need any windows version. There are available websites, which have provided instructions for the users and after the form is created, the user downloads it from the website. According to Kimmel, Weygandt & Kieso (2011), online forms are designed according to their purpose or in accordance to the individual’s preference. After creation, they are distributed to the required outlets. Online forms are preferable due to their convenience and simplicity in creating.

When using word to create an online form, the most common method is using a table. The tool bar has all the options to help the user in forming a table of his or her choice. It is also possible to create a form on a blank word document without using a table. An individual is required to arrange the entries on the blank document and leave out the spaces for filling. A large number of forms underline the space for the answer, especially if it is an open answer.

Managing long documents

Long documents may be difficult to handle if they are not approached systematically. The first step in managing long document is creating an outline. It will assist in directions of where every item has been placed. The outline should be made after the document has been divided into simpler part and their headings are put in the outline. The long document can also be split if this is possible. It is advisable to have one part not more than twenty pages (Deshmukh, 2006). When working on the documents do it separately on the split parts. This will be easier compared to handling the document as a whole. Individuals who handle long documents are advised to have a back up for them, in case the original document is lost or damaged.

Financial tools and functions

Excel contains financial tools and functions, which assist in keeping financial record as well as analyzing them. For example, excel has tools for creating financial charts, auditing tools for a worksheet and financial functions among others. Apart from recording and analyzing, it is possible for these tools and functions to detect and correct any mistakes. To access the formulas and functions, one has to click “insert” option on the toolbar and choose “function”. All formulas and functions will be listed for the user to choose (Deshmukh, 2006).

Financial functions and tools in excel have simplified keeping financial records for companies and organizations. It has increased accuracy and saves time when carrying out calculations and making other analysis. It has played a role in making financial activities digital. Excel has converters and all the formulas required by users to carryout their work on financial records. Unlike the traditional methods of financial tools, it is possible to store records in soft copies and adjust them accordingly.

What- if analysis and external data source

What-if function is a basic tool of analyzing records in excel. It enables the user to view various scenarios without changing the values of his or her records. It is mostly used by business people to speculate or predict certain situations of their business’ financial situation (Deshmukh, 2006). This function is on excel’s toolbar where there is a slot of filling in the figures to have the different scenarios. No changes are made on the original accurate figures. Connecting data to an outside source has several benefits. The user can go through it without copying in another place. By doing this he or she saves time since copying is wastage of time. If the external source is updated, the user can always update his or her data according to the external data source (Kimmel, Weygandt & Kieso, 2011).

References

Deshmukh, A. (2006). Digital accounting: The effects of the Internet and ERP on accounting. Hershey, PA: IRM Press.

Kimmel, P. D., Weygandt, J. J., & Kieso, D. E. (2011). Accounting: Tools for business decision making. Hoboken, N.J: Wiley.

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