Excel

Question 1

What is a spreadsheet?

Answer 1

A spreadsheet is an electronic way of creating and defining a table with rows and columns

Question 2

What can spreadsheet data be used as input to? - What can be done with inputs to excel

Answer 2

numerical functions e.g. sum
graphical routines e.g. charts, graphs
statistical analysis e.g. averages
management science algorithms

Question 3

Give five advantages of the electronic spreadsheet over tables on paper

Answer 3

Clarity and Presentation
Ease of correction
Speed - ex: changes automatically update other parts of table
Flexibility
Complexity - because of ease of use more complex models can be made than those that could be attempted on paper.

Question 4

What are the three basic types of information entered to create a properly structure spreadsheet

Answer 4

Value information
Label information
Formula information

Question 5

Explain label information in a spreadsheet

Answer 5

Text entries allow the user interpret the numeric information. Figures without a description are meaningless to the user.

Question 6

Explain formula information in a spreadsheet

Answer 6

A formula is a mathematical expression which makes a calculation, usually involving some spreadsheet cells.

Question 7

Give shortcut for the following movement of active cells:
1. Move to Top of worksheet
2. Move to end of worksheet (last data cell)

Answer 7

1. Ctrl + Home
2. Ctrl + End

Question 8

Give shortcut for the following movement of active cells:
1. Move to end of row
2. Move to end of column

Answer 8

1. Ctrl + right arrow key
2. Ctrl + down arrow key

Question 9

What are points of good practice for excel sheets in describing things

Answer 9

Put human readable labels on everything
Format the spreadsheet for readability
Use appropriate numeric formats
Include an ‘About’ or ‘Welcome’ sheet to document the spreadsheet
Keep formulae simple

Question 10

What are some principles of spreadsheet modelling with formulae

Answer 10

Use separate areas of the spreadsheet where data and formulas are stored.
Never include constant numbers in formulas
Always define the units to be used consistently through the model
Don’t use complex or ambiguous formulas, rather break them up or use brackets.

Question 11

What are four components of a financial forecast model

Answer 11

Base Data
Periodic Changes
Sales Price and Costs Analysis
calculated.
Financial Forecasts