Spreadsheets Flashcards
What are the uses of spreadsheets?
Can be used to prepare cash budgets.
Can be used to prepare inventory record cards.
Can be used to prepare overhead analysis statements.
What are the benefits of using spreadsheets?
Calculations, with the use of formulae, are more accurate than manual.
Can show the effects of ‘What if’ scenarios and use this technique for forecasting.
Can use templates with formulae already inserted.
Calculations are updated automatically provided formulae have been inserted.
Worksheets can be linked together with information easily being transferred from one to another.
Information can be converted to graphs/charts for presentation purposes.
What are the costs of using spreadsheets?
Initial cost to buy equipment/software.
Installation costs.
Maintenance and repair costs.
Staff training costs.
Cost of updating equipment/software.
Time lost due to breakdowns/hackers/ crashes/updates/viruses etc.
