Microsoft Excel has
been such a popular software package that it has developed into a business
essential that is setting the standards in accounting and is considered
essential in any level of business.
History and development
The original version of Excel wasn't much more
than a basic spreadsheet package capable of storing figures and performing some
basic calculations. Whereas the latest version includes various far reaching
features allowing different calculations and projections to be made and
illustrated in imaginative and easy to follow graphics.
The success of Excel can be measured by the
number of books and publications available that explain how to get the most out
of Excel with the financial analysis tool being one of the most important
recent additions to the system.
By combining a range of functions, Excel has
become much more than a software package to record results on. By linking
different aspects of a business the knock on effect of changes in figures can
be anticipated allowing a business to use Excel to plan future strategies.
This functionality has made Excel essential at
every level of management allowing predictions to be made with a degree of
With a package that can be used across almost
all industries, customization is an essential element of Excel. This allows
individual companies to tailor Excel to their precise needs but also ensures
that users have a general grasp of the package and can quickly come to terms
with how other businesses are applying the package.
With Microsoft's commitment to improvement and
new technology becoming available, further enhancements of the package can be
anticipated to ensure that Excel remains an essential part of all business
accounting and planning.