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You can do any sort of calculation you want in Excel. It is much more powerful than any calculator. It can do anything from very basic arithmetic right up to very complex calculations. It has a lot of specialised functions for use in different types of industries and different areas of mathematics. It can do a lot of other things too, that are not maths related, like graphics.

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What does mathematics have to do with accounting?

Quite a bit. You need arithemetic, some algebraic and boolean skills especially in working on computers in Accounting. I will say I haven't found a use for calculus in Accounting.