Technology (Finance) Flashcards
What are Spreadsheets?
Can be used to prepare financial documents such as Income Statements and Cash Budgets.
What are the advantages of Spreadsheets?
Formulae can be used to ensure calculations are performed accurately.
Graphs can be generated so information can be interpreted more easily.
IF Statements can be used to predict profit/loss in different scenarios.
What are Databases used for?
Can be used to store customer banking information for invoicing.
What are Word Processing used for?
Can type up an invoice to send to customers.
Can prepare financial reports for showing Board of Directors.
What are E-mails used for?
Can contact suppliers to negotiate a better deal for cost of raw materials.
What are Online Banking used for?
Can send electronic payments to suppliers.
What are EPOS (Electronic Point of Sale) used for?
Can automatically update financial records as products are scanned at the checkout (eg sales totals, break-even point).
