Accounting Assignment Help Samples
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Accounting Assignment Solution
Q1. Naming cells in spreadsheets
Naming the cell references makes it simpler to understand the purpose and functionality of the cell. When a cell name is used, anyone who views the sheet can understand its purpose and work on it. It also makes the spreadsheet more readable and user friendly.
Sample spreadsheet for Sales less expenses
The above sheet is shown using cell reference with names below:
Q2 Negative numbers
Displaying negative numbers in parentheses makes it easier for accountants and readers of the financial statements to read it easily. This makes it similar to how books are typically maintained in which in most cases red ink is used to show negative figures. It makes negative numbers easily identifiable as well.
Here is a spreadsheet snapshot that shows how negative numbers can be displayed in red and in brackets for clarity:
Q3 Separation of data and report areas
In accounting and financial books maintenance, data entry and reporting is always kept separate. This can be for multiple purposes:
For clarity – when it is in two separate places, there is no confusion since both parts are well spaced out.
The users who make the data entry and those who view the reports can be different. Hence keeping them separately in different areas makes entry of the records easier.
Generally, the reports parts are fully protected as there is no data entry required in the reports. But in data entry area, some cells are protected but most are open for entry. Keeping them in separate spreadsheets will help to protect the reports part separately as selection will be simpler.
Q4 IF functions
The ‘IF’ function of Microsoft Excel helps to create complex formulae to make calculations.
“You can build a logical formula using an IF function. A logical formula makes calculations based on criteria that you create, called stated conditions”(Wermers & Eisner Reding, 2007)