Giving a Critique of the Usefulness of Spreadsheet Modelling in Financial Accounting and Reporting

Giving a Critique of the Usefulness of Spreadsheet Modelling in Financial Accounting and Reporting Essay example
Masters
Essay
Finance & Accounting
Pages 6 (1506 words)
Download 0
GIVING A CRITIQUE OF THE USEFULNESS OF SPREADSHEET MODELLING IN FINANCIAL ACCOUNTING AND REPORTING Table of Contents Table of Contents 2 Spreadsheet modelling 4 Uses of Spreadsheets 4 Five Categories of Spreadsheet Analysis 6 Base-Case Analysis 6 What-If Analysis 6 Breakeven Analysis 7 Optimisation Analysis 7 Simulation and Risk Analysis 7 Spreadsheet Errors 8 Spreadsheets Modelling leading to Financial Crisis 9 Security and Control of Spreadsheets 9 Alternative to use of Spreadsheet Modelling 10 References 12 Spreadsheet modelling A spreadsheet is nothing but a blank table which is composed of number of boxes formed by equally spaced horizontal and vertical lines…

Introduction

Computer spreadsheets are very much beneficial in manipulating large volume of data very easily and in quickly (Moutinho, et al., 1994, p.26-27). Spreadsheets are very much useful in modelling situations in financial accounting and helps in various decision making processes. Uses of Spreadsheets Spreadsheets are argued to be most frequently used by most of the organisations all over the world. There are many tailor-made tools available in spreadsheets which perform specific business processes (Baker, et al., n.d.). There is an increased popularity in the use of spreadsheets in business concerns. It is so because of spreadsheets being an end user computing platform. The information systems department takes long time to complete the analysis and reporting. Moreover, spreadsheets are easy to use powerful software to do business analysis (Fisher, n.d.). Spreadsheets are used by many companies to assist in the management of information related to critical business procedures. ...
Download paper
Not exactly what you need?

Related papers

Advanced Financial Reporting - Prevalence of Creative Accounting
This report will be evaluating the reasons that give rise to creative accounting by organizations; the grounds for the nativity of this practice will also be discussed. The evaluation of the efforts made by existing standards and accounting practices in controlling and reducing aggressive accounting will be catered in the report. The levels of success achieved by regulatory bodies will also be…
Financial Accounting and Reporting
The formation of the bank was done in cooperation by Unit Trust of India, General Insurance Corporation of India, Life Insurance Corporation of India and also four other Public Sector Undertaking (PSU) companies of insurance namely The New India Assurance Company Ltd., United India Insurance Company Ltd., National Insurance Company Ltd. and The Oriental Insurance Company Ltd. (Axis Bank, 2007).…
Financial Modelling Report
In addition, regression analysis will be conducted to especially find out the patterns of the regression equations and the p-value. This will help support the null hypothesis that the predictors play some role in the stock return. A number of theories will be put forward to try and explain the results of the study. MN7024-Financial Modelling Introduction Return on stock is influenced by various…
Financial Modelling
This paper models an approach for estimation of the probability of default (PD) using publicly available information. It borrows from past research to develop an analytical approach and explore the provided data sample. Regulators are conventionally not the single constituency of individuals interested in PD estimate properties. Typically, PDs are products of credit asset pricings, from bonds,…
Assignment Financial Accounting and Reporting
The creditors assess the ability of a company to repay their loan. Hence, ratios pertaining to leverage and cash flows are essential for the company’s creditors and bondholders. Existing and potential Shareholders: Existing shareholders need the financial accounts to assess the long term viability of their investment whereas potential shareholders also require financial information to decide the…
Financial Accounting and Reporting
4. Customers Customers use financial information to assess the financial position of a company and its ability to supply goods or services stably for a long period. 5. Employees Employees need to know the profitability of their company, its ability to remunerate them in the long term and to ensure their job security (Elliott, 2008). LEGAL REQUIREMENTS ON ACCOUNTS PREPARATION The accounts must be…