ACC566 Acc Systems and Processes
1. Accountants often use accounting software for data management, why do they still use spreadsheets? What are the disadvantages of using spreadsheets?
In this particular part of the
assignment expert is going to discuss why the accountants tend to utilize the spreadsheets a lot. This is due to the fact of its easy functionality. Secondly when they have learned accounting they have practiced a lot on the excel spreadsheet so they hesitate to shift to the utilization of the accounting software.
Apart from the spreadsheet the accountant can utilize various other accounting software as it is attached with many disadvantages such as -
- There is always an attached risk in using the spreadsheet that the particular sheet will get corrupted or it may crash.
- Lack of user friendliness
- If the client while entering data along with the bookkeeper there is always a attached risk of formulae deletion which might change the complete calculation.
2. In designing a spreadsheet, why should the report section be completely separated from the data section?
It is the basic practice of the financial modeling concept that the report areas and the data input section should be kept separately in the different tabs of the spreadsheet due to the below mentioned reasons –
- To bring comfort in the updating, entry, and review of the data with clearly labeled tabs for input and output.
- The errors which are made in the file tab will not affect the other.
- When reporting period data is required to be added only one tab is needed to be modified it will auto update the report range.
3. Use spreadsheets to demonstrate:
• IF functions,
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Charles Sturt University
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Roll Number
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Name
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Course
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Total Fees
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Payment
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Balance
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1
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Mark
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Accounting
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4000
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2000
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=IF(F17<E17,E18-F17,0)
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2
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Veronica
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Business studies
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3000
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3000
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=IF(F18<E18,E19-F18,0)
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3
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Atul
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Computers
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5000
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4000
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=IF(F19<E19,E20-F19,0)
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4
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Aparna
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Hospitality
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2500
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3500
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=IF(F20<E20,E21-F20,0)
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5
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Archana
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Accounting
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5600
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2500
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=IF(F21<E21,E21-F21,0)
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• Negative numbers in brackets,
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Transaction data day wise
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Day
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Equity
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Liabilities
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Assets
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1
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$2,000.00
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($1,200.00)
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$3,200.00
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2
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$2,200.00
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($550.00)
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$2,750.00
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3
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$2,500.00
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($450.00)
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$2,950.00
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4
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$1,500.00
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($670.00)
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$2,170.00
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5
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$850.00
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($230.00)
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$1,080.00
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• Names to reference cells (e.g. Net Profit = Sales less Expenses).
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particulars
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average cost (in $)
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sales revenue
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40000
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Cost of goods sold
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15000
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gross profit
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=C3-C4
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indirect expenses
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12000
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net profit
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=C5-C6
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