The Excel Worksheet is a very useful and effective tool in making different financial related workbooks like balance sheets, income statements, payroll, etc. Using Excel, you can easily create these workbooks with ease. Common function like summing up a column can easily be done using the Summation function. You can use this program to make a credit card statement of account. Using this, transactions can easily be summarized in a column, and the corresponding charges could be shown on the next column.

In addition to this, transaction dates and date posted could also be shown on another columns corresponding to each transaction made within the month. Total number of payments and corresponding amounts could also be indicated in the statement. Outstanding balance from previous month/s, if any, can also be included in this workbook currently being made. Using the functions embedded in Excel, you can then add up all the charges for the month, compute for the interest charges using the RATE function under the financial category and then subtract all the payments made for the account.

You may also use this program for tracking your investments. You can easily calculate the interest earned after certain period, and even estimate the future worth of your investments. This could be done using the available financial functions in Excel. You can even graph a series of cash flows to have a more visual representation of your investments. This could be done using the Chart Wizard that easily guides you when making a graph or a chart. To summarize, there are many uses for Excel for different math applications especially for financial use.

There are many different functions available in Excel that could assist you when calculating certain things. These functions fall in different categories depending on its usage. Common financial functions like IRR (Internal Rate of Return) and FV (Future Value) are available in Excel. Help on the usage of the functions are also available. The chart wizard can be used for creating different types of graphs like bar, pie, line, etc. Excel is an all-in-one package program for different math applications.

References:

About. com. (2008). Learn Microsoft Excel: Tutorials and Tips. Retrieved on August 8, 2008 from http://netforbeginners. about. com/od/learnmsexcel/Learn_Microsoft_Excel. htm Bowles, R. Beginner’s Guide to Excel. Retrieved on August 8, 2008 from http://richardbowles. tripod. com/excel/menu. htm Vertex42. (2005). Financial Modeling with Excel Spreadsheets. Retrieved on August 8, 2008 from http://www. vertex42. com/ExcelArticles/financial-modeling. html