INF 103 Week 3 Assignment Using Microsoft Excel (Personal Vs Actual)
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Using Microsoft Excel.
As indicated in the guidance for Week 3 Excel can be used for many purposes. For example, Excel can be used to develop and track
your personal income and expenses against a monthly budget. Assume a family has developed a monthly budget and desires to compare actual expenses for July to their budget.
Before we begin, for income and savings we use the formula (Actual – Budget) and for costs or expenses we use the formula (Budget – Actual).
We do this because we are trying to determine whether the difference or variance is better or worse. It is better to earn a higher salary but it is worse to spend more than budget.
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