In this video, learn why Excel should be used for business budgeting when there are lots of tools around.
- [Instructor] Now you may be wondering why use Excel…for business budgeting when there are so many tools…available.…Well I like to use Excel as it's both powerful…and flexible, making it ideal for designing…and building business budgets, but what exactly do we mean…by flexible?…Well let's take a quick tour of Excel and step…through its more commonly used features.…Make sure Excel is open and on a blank new workbook.…At the top of the screen, what you'll notice are menus…and ribbons.…If the ribbons aren't visible like they aren't in this case,…let's right click on one of the menus and simply click…Collapse this Ribbon and that will make the ribbon…visible all the time.…
Let's make sure at this point that auto save is on.…If it isn't, then simply click on the radial button here…and that will toggle between off and on.…And that will mean that any changes you made…to the workbook will be saved automatically.…Now let's go ahead and change the sheet name.…I'm just going to double click over sheet one and type in…expense plan and then hit Enter on the keyboard.…
- Identify why it is a good idea to use Excel when creating a business budget.
- Examine the importance of revenue drivers when putting together a business budget.
- Recognize how to calculate staff costs when creating a business budget.
- Explore the elements of preparing a concise report.
- Break down the fundamentals of enhanced reporting.
- Determine the best ways to utilize efficient updates.