Week 3 DQ3

What is the main purpose of a financial statement worksheet and its benefits? How has automation aided the preparation, accuracy, and use of the financial statement worksheet?

A worksheet is a beneficial extra that sometimes makes it easier to prepare adjusting entries and financial statements. In larger corporations worksheets are helpful when making many adjustments and when using a computer, spreadsheet columns can be set up for trail balance, adjustments, and adjusted balances - there are also useful for the computation of net income/loss on the worksheet. Worksheets can be prepared manually, in an excel spreadsheet, or purchased with programmable software. Worksheets can also be purchased as accounting software that has been preprogrammed with the specific accounts that...