Definition

Worksheet

A worksheet is a multiple-column form that companies use in the adjustment process and in preparing financial statements. As its name suggests, the worksheet is a working tool. It is not a permanent accounting record; it is neither a journal nor a part of the general ledger. The worksheet is merely a device used in preparing adjusting entries and the financial statements. Companies generally computerize worksheets using an electronic spreadsheet program such as Excel.

Share it:  Cite

More from this Section

  • Cash budget
    The cash budget is a projection of anticipated cash flows. Because cash is so vital, this ...
  • Accounting system
    Accounting system is an organized approach to gathering, recording, analyzing, summarizing, ...
  • Job Order Cost System
    Under a job order cost system, the company assigns costs to each job or to each batch ...
  • Cost accounting
    Cost accounting involves the measuring, recording, and reporting of product costs. From ...
  • Bookkeeping
    Bookkeeping is a part of accounting process that involves only the recording of economic ...