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Giving a Critique of the Usefulness of Spreadsheet Modelling in Financial Accounting and Reporting - Essay Example
Author : lefflerstan
Finance & Accounting
Pages 6 (1506 words)
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…
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. ...