Utilize processes for obtaining budget data and collaborating with others when using Excel, including Shared and Merged Workbooks, Excel’s Audit Trail, controlling and validating data input, and collaborating with others

Apply various Excel techniques for interacting with the accounting system, such as Office Data Connections, Open Database Connectivity, importing text files, and linking Internet-based data into budgeting and forecasting models

Identify situations in which various Excel techniques are appropriately implemented, such as using Data Tables for sensitivity analysis, working with Excel’s Goal Seek feature, using Solver to maximize scarce resources, working with Scenario Manager, forecasting with Regression Analysis, and analyzing risk with Monte Carlo simulations

Implement various Excel functions – including NPV, IRR, XNPV, and XIRR – in capital budgeting situations and identify different methods by which Excel computes depreciation

Compare and contrast Excel with other applications used for budgeting and forecasting activities and describe conditions in which you should use other solutions to reduce the dependency on Excel as a budgeting and forecasting solution