Digital technologies EXCEL as a tool for harmonizing accounting and economic control with the needs of the business environment

Abstract

Abstract. In modern conditions of a market economy, enterprises face numerous challenges associated with rapid changes in the external environment, increased competition, globalization of economic processes and technological innovations. This necessitates the need for rapid adoption of effective management decisions based on high-quality and flexible analytics. At the same time, the digitalization of business contributes to the widespread implementation of data processing tools, among which Microsoft Excel occupies a special place due to its accessibility, functional versatility and integrative potential. However, in practice, its limited and unstructured application in economic control and business management systems is observed. Accordingly, the lack of a methodologically sound approach to using Excel as a management analytics tool complicates the transformation of available data into relevant management information, which hinders the development of an effective economic control system and making informed decisions regarding business management. Purpose. The purpose of the article is to substantiate the feasibility and determine the possibilities of using MS Excel as a tool for harmonizing the accounting and economic control system with the current needs of the modern business environment, taking into account the features of digital transformation, the complexity of financial transactions, and the requirements for flexibility, efficiency, and integration of accounting processes. Methods. In the process of research, a number of general scientific methods were used, which ensured logical consistency, scientific validity and comprehensiveness of the problem analysis. The analysis method was used for structural dissection of Excel's functional capabilities in the field of accounting, financial and management accounting in order to study their content, functions and practical application in detail. The synthesis method allowed combining the obtained results into a single conceptual model of using Excel as a universal tool for accounting, analysis and control in the conditions of digital transformation. In addition, the comparison method has been used to assess the advantages and limitations of Excel compared to specialized automated accounting systems and ERP solutions. The empirical approach was used to generalize the practical capabilities and modern trends in the development of Excel, taking into account the implementation of artificial intelligence and Python programming. Results. According to the conducted research, the possibilities of using Microsoft Excel as a universal tool for accounting and analytical support of business, combining the functions of accounting, financial and management accounting, were highlighted. It was established that Excel can be an effective means of harmonizing heterogeneous information, adapted to the needs of a dynamic business environment and the conditions of digital transformation. The key analytical capabilities of Excel has been insolated, including automation of calculations, flexible reporting settings, construction of graphic visualizations, as well as the integration of artificial intelligence and Python programming for in-depth analysis and forecasting. The study substantiated the role of Excel as a tool that contributes to increasing the efficiency of economic control and making managerial decisions, especially in small and medium-sized enterprises, where investments in complex automated systems are impractical. Conclusions. It has been established that Microsoft Excel is a universal and extremely powerful tool for harmonizing business analytics, accounting and management accounting with the needs of the business environment and the need for economic control due to its flexibility, ease of development and wide functionality. It provides opportunities not only for recording and systematizing financial and economic indicators, but also for their in-depth analysis, forecasting and visual visualization, which is important for timely and well-founded management decision-making. The conclusions obtained have theoretical significance for the development of accounting and analytical approaches in the digital age and practical significance for increasing the efficiency of management and control in business.