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Accounting System and Process: Doc

   

Added on  2021-06-17

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Running head: ACCOUTING SYSTEM AND PROCESS Accounting System and ProcessName of the StudentName of the UniversityAuthors NoteCourse ID
Accounting System and Process: Doc_1
ACCOUTING SYSTEM AND PROCESS1Table of ContentsAnswer to question 6:.................................................................................................................2Answer to Question 12:..............................................................................................................3Answer to question 13:...............................................................................................................3Reference List:...........................................................................................................................6
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ACCOUTING SYSTEM AND PROCESS2Answer to question 6:A computer spreadsheet can be defined as the interactive computer application toperform an organizational analysis and store the data in the tabular form. Spreadsheet arecreated as the computerized simulations of the paper based accounting worksheet. Theprograms usually function based on the data that are entered in the cells or the table (Deo,2017). Each cells in the spreadsheet may comprise of the either text data or the numeric dataalong with the results of the formula that are used in the calculating values automatically. Inaccounting the users of spreadsheet are able to adjust any form store values and monitor theimpact on the values calculated. The spreadsheet is the useful tool for what-if analysis asseveral cases can be rapidly investigated without the manual computations. Companies that are using the spreadsheet are able to track and observe the flow ofwork that assist in carrying out the functional process. The unpaid invoices, open claims, andother types of information which was earlier retained in the paper or in the manual folders.The most common general use of the spreadsheet software is to help in creation of budget,generate graph and charts for storing and sorting the data (Poole & Sky-McIlvain, 2014). Inthe accounting process spreadsheet helps in forecasting the future performance, computingthe tax, computing the basic payroll and generating charts, computing the revenues. Thespreadsheet in the accounting process acts as providing the analytical review for themanagement and help in decision making. The spreadsheet has several advantages as spreadsheets makes calculations easy.Business that implements spreadsheet perform financial calculations easily to understandwith explanatory notes in each line of computations. Spreadsheet provides range ofadvantages to the business particularly to the business users (Fraillon et al., 2014). A businesshaving the set of data that are based on numerical, financial statistics or other information’scan apply spreadsheet not only for the purpose of storing this data but also managing the dataas well. The spreadsheet provides analytical processing and presenting of data and helps inproviding complex processing in a manner that even individuals with lower technicalexperience can access. Computer spreadsheet as the tool of accounting helps in future planning in two ways.At first the accountants can analyse and visualize the data in order to provide an insight intobusiness regarding the present performance and highlighting those areas for growth andreconsiderations (Wild, 2015). Secondly spreadsheet can be used to compute the potentialimpact of changing the business model. For instance, if the management uses the presentinformation along with probable change, namely sales variations in retail context, themanagement are able to ascertain the effect of such change. Beside the advantages of spreadsheet, it also has disadvantages as well. The abilitiesof spreadsheet are deskilling. Workers are not anymore required to possess any special skillsand should compete with the inexpensive unskilled labour. Individual spreadsheets areinstalled on each of the personal computers in the office that enables the users to hoard thedata and make their forecasts without the need the cooperating with the colleagues (Schipperet al., 2017). These practices result the duplication of the data as well as the effort across theorganization. The structure of spreadsheet is such that it increases the requirement of storageover the requirement of raw data. On a conclusive note, the ability of the spreadsheet programs to exchange data withthe other applications improves the advantage of the spreadsheet and eliminates the
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