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Define Spreadsheet

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Clarisse Ava April 19, 2021 Spreadsheet

By choosing ready-made spreadsheet solutions instead of using spreadsheet-generating programs, business owners can economize time and also reduce costs substantially. Ready-made spreadsheet solutions are available in a wide range of formats, serving for a variety of predefined purposes. They are the ideal tools for companies who lack the financial resources and / or the staff required for generating spreadsheet solutions with specific programs. At present, the most requested types of ready-made spreadsheet solutions are ”Spreadsheets for Small Business” and the subcategory ”Spreadsheets for Actors”.

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”Spreadsheets for Small Business” is a complete package of ready-made spreadsheets that optimizes and facilitates a series of business processes such as sales exec commission tracking, calculating business expenses and planning budgets. The ”Spreadsheet for Small Business” package incorporates valuable programmed spreadsheets such as ”Small Business Expense Spreadsheet” – provides accountants and tax-preparers with a complete report on relevant business expenses; ”Producer‘s Budget” – helps users to establish budgets and keep track of their spending; ”Monthly Personal Budget” – designed to track daily, weekly and monthly spending for individuals.

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Panko (2000) suggests that “Given data from recent field audits, most large spreadsheets probably contain significant errors.” The most recent audit he cites found errors in at least 86% of spreadsheets audited. In 1997 Panko reported that 90% of the spreadsheets audited in a study carried out by Coopers and Lybrand were found to have errors. In ‘Automatic Generation and Maintenance of Correct Spreadsheets?‘ Erwig et al (2006) cite a figure of 90% from Rajalingham et al (2001) ‘Classification of Spreadsheet Errors‘. ‘Given the billions of spreadsheets in use, this leaves the worlds of business and finance horribly vulnerable to programming mistakes‘ (Scanlan et al, 2006). The studies by Paine, and Panko show that the chances of any given spreadsheet cell containing an error are somewhere between 0.3 and 3%, so that a spreadsheet of only 100 cells has about a 30% chance of having one error or more. Aragones et al (2006) state – ‘Desktop spreadsheet users are very creative in their adaptations, but distributed spreadsheets have the problem of distributed, inconsistent inputs and distributed results.

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Regarded as a very effective and reliable means of data management, monitoring valuable financial data, as well as optimizing processes involving frequent data entry and manipulation, spreadsheet programs have rapidly become popular among businesses of all types and sizes. Elaborate, properly constructed spreadsheets greatly simplify a wide range of activities and processes within companies, enabling business owners to economize valuable time and effort, increase the efficiency of their business (Analysis), keep track of different tasks, manage their budget, optimize the planning of future events (Forecasting), organize and access valuable information, and optimize the completion of specific tasks. And thus, thanks to their many benefits, spreadsheet programs have come to be considered indispensable tools for businesses in today‘s competitive climate.

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In today‘s competitive climate, proper business management and organization plans are crucial for companies that strive to maintain leading positions on the market. Apart from a substantial capital, company owners have to invest lots of time and effort in order to maximize the efficiency, profitability and exposure of their business. However, companies can nowadays achieve these goals with less effort and in a cheaper way by using properly designed spreadsheets. The right spreadsheet solutions allow companies of all shapes and sizes to achieve and maintain a prominent position on the market, optimizing and accelerating a wide range of specific business processes and tasks.

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A popular category of ready-made spreadsheets mentioned earlier, is ‘Spreadsheets for Actors‘. ‘Spreadsheets for Actors‘ includes sets of programmed spreadsheets that are especially designed for professionals in the entertainment industry, from Actors to Producers. The spreadsheets under ‘Spreadsheets for Actors‘ range from facilitating the managing of budgets to keeping track of income emerging from many sources.

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