Finance - Technology

Question 1

What are the features of a spreadsheet ?

Answer 1

1. Formulae
2. Charts
3. Templates
4. ’ What if ‘ function
5. Documents

Question 2

What are the advantages of using formulae ?

Answer 2

1. reduces calc errors (auto sum)
2. info can be updated quickly

Question 3

What are the advantages of using charts ?

Answer 3

1. Info is easier to understand

Question 4

What are the advantages of using Templates ?

Answer 4

1. Creates professional documents

Question 5

What are the advantages of using ‘ What if ‘ function ?

Answer 5

1. helps managers make decisions

Question 6

What are the advantages of using documents ?

Answer 6

1. Can be edited by multiple employees if shared on a shared server/ cloud

Question 7

How could the finance department use emails ?

Answer 7

1. Send information and attachments to various people, including staff, suppliers, and customers
2. Reminding customers when payment is due

Question 8

How could the finance department use PowerPoint ?

Answer 8

1. Presenting financial info to staff
2. display financial data to shareholder

Question 9

How could the finance department use Accounting software ?

Answer 9

1. Specialist software can process finance info quickly, eg, Sage
2. Reports can be produced using templates to ensure consistency
3. HMRC calculate Tax

Question 10

How could the finance department use websites/ apps ?

Answer 10

1. Online banking apps check balance
2. customers can gain account info including outstanding balance
3. pay suppliers online payment system

Question 11

How could the finance department use Spreadsheets ?

Answer 11

1. formulae - perform calculations
2. Chart - display info
3. Templates - create income statements/ cash budgets