Oriel Hafsa May 1, 2021 Spreadsheet
Processing the financial documents related to a business enterprise basically means they need to be listed. For taxation and financial control purposes the invoices also need to be added up and analyzed. The most basic method would be to simply make a list of the sales income and a second list of the purchase expenses. Using a manual method of listing the information falls short of the analysis required and is more time consuming that using a little technology to both ensure the summation is accurate and the analysis simplified. Listing the sales and expenses of a small business on spreadsheets is no more difficult then a manual paper system and has tremendous advantages in automating and ensuring accuracy.
Spreadsheet: A table of rows and columns, free for the entry of data, or formulae for calculating actions on those data. Each row or column is said to contain many ‘cells‘ and these cells serve as ‘homes‘ for every shred of information. Many spreadsheet applications nowadays have functionality above and beyond the traditional, offering a variety of charts, look-up tables, databases and more functionality than can be mentioned here.
By their nature, large spreadsheets are difficult for a third party to comprehend as their inherent flexibility for editing allows users to generate a complex web of cell references which are arduous to audit. Panko (2000), Paine, (2003), and Scanlan et al (2006) examine this problem. Worse still, there is a tendency for the spreadsheet author to misguidedly compound the problem by expending a considerable amount of effort into hiding the detail behind an elaborate and visually attractive ‘front end‘. Should the author of such an application leave the organization, it is commonly abandoned as colleagues are reluctant to master its complexity and often refuse to take ownership of it, as they are busy with their main work. Paine states that spreadsheets have almost no features for building applications out of parts that can be developed and tested independently.
Spreadsheets are computer applications that provide you with a virtual way of creating accounting worksheets. They are often used for calculating numbers and organizing data. You can also use them for charting and displaying the graphical interpretation of data. There are many electronic spreadsheets today so you can use them to start the comparison process.
A consideration which influences my research into End-User Programming and Modelling is that organizations should not use proprietary or closed standards for their information. Systems should be designed with the assumption that information, which represents the primary system asset, may eventually need to be migrated to another software tool or environment. Open use of information was the priority for the DATUM project. This project is explained in ‘DATUM Project: Cost Estimating Environment for Support of Aerospace Design Decision Making‘ (Scanlan et al, 2006). Therefore a requirement of this research is that open standard semantic languages are used to represent information, to be used both as input and output of the models. These languages are based on eXtensible Markup Language (XML). These same open standard languages can be used for developing the program code of models.
Small businesses can also benefit from professionally produced bookkeeping spreadsheets that have been specifically arranged not just to produce a list of income and expenses but also in a way that analyze that information in the way the small business requires it. There are two main requirements of the way the financial records are analyzed being to produce a financial profit and loss account for the business on a periodic basis but also to provide the totals of the categories required for taxation purposes.