Finance - Technology

Question 1

List 4 features of a spreadsheet

Answer 1

• Formulae - Used to perform calculations
• Charts - Made to display info
• Templates - Can be used to create income statements or cash budgets
• What if function - Used to help managers make decisions

Question 2

Describe 2 advantages of using a spreadsheet

Answer 2

• Can be used to record and edit numerical data
• Docs can be edited by multiple employees if saved on a shared server/cloud

Question 3

List 5 pieces of technology the finance department can use

Answer 3

• Spreadsheet
• Website
• Accounting software
• PowerPoint
• Email

Question 4

Describe a spreadsheet as a piece of technology the finance department can use

Answer 4

To record and edit numerical data

Question 5

Describe a Website as a piece of technology the finance department can use

Answer 5

Customers can gain access to their account information, including any outstanding balances using the internet

Question 6

Describe Accounting software as a piece of technology the finance department can use

Answer 6

Reports can be produced using templates to ensure consistency

Question 7

Describe PowerPoint as a piece of technology the finance department can use

Answer 7

Could be used to display financial data to shareholders at the Annual General Meeting (AGM)

Question 8

Describe Email as a piece of technology the finance department can use

Answer 8

Can be used to remind customers when payments are due