Technology- Finance

Question 1

What are examples of technology in finance?

Answer 1

• Spreadsheets
• Presentations
• E-mail
• Internet banking
• Accounting software and apps

Question 2

Spreadsheets:

Answer 2

These can be used to prepare financial statements (ensured accuracy, formula can be replicated, charts can be generated and its easy to follow trends over a number of years)

Question 3

Presentation software:

Answer 3

This is software used to engage audiences when presenting information e.g. colourful graphs

Question 4

Email:

Answer 4

This is used to circulate financial information quickly

Question 5

Internet banking:

Answer 5

This is used to make payments and check you balance quickly

Question 6

Accounting software:

Answer 6

This is used to keep track of payments and income to send invoices to customers

Question 7

Technology development marks:

Answer 7

• Calculations are accurate
• Formula can be replicated
• Charts can be easily generated
• Mistakes are minimised
• Fewer staff reduce costs
• Can be linked to accounts
• Can work with more thanone person so changes smade in real time
• Password protected