Question

Microsoft Excel has been the spreadsheet tool of choice, but there are other options. When evaluating...

Microsoft Excel has been the spreadsheet tool of choice, but there are other options. When evaluating Excel, IDEA, and other spreadsheet or data analytic tools, what are the benefits and limitations? How might you, as an auditor, decide which tool is the best for the task? If you choose an alternative to Excel, how would you “sell” the idea to others in your organization who may not know there are other options?
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Microsoft Excel is the most used spreadsheet software around the world. The spreadsheets present tables arranged in rows and columns and are used to calculate basic and complex mathematical operations and functions.

Disadvantages of Using Spreadsheets for Reinsurance Programmes

  • Collaboration is Limited. ...
  • Lack of controls, vulnerable to fraud. ...
  • No log of change. ...
  • Not prepared for disaster. ...
  • Susceptible to costly human errors. ...
  • Difficult to troubleshoot or test. ...
  • Regulatory compliance challenges. ...
  • Hard to manage data security

Spreadsheets have their advantages as well – they are an excellent tool that allows us to carry out extensive analysis. But for the easy retrieval and updating of data, efficiency, data consistency, data integrity, speed, and security, relational databases are definitely the structure to opt for

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
(3)       A Breakeven Analysis is a powerful management tool, and one that is critical in planning, decision-making,...
(3)       A Breakeven Analysis is a powerful management tool, and one that is critical in planning, decision-making, and expense control. It can be invaluable in determining whether to buy or lease, expand into a new area, build a new plant, and many other such considerations.            T                F (4)       According to the segmentation process, a market segment should be: a.Measurable. b.Differentiable. c.Accessible. d.Substantial. e.ALL OF THE ABOVE. f.NONE OF THE ABOVE. (5)       What specifically is a break-even analysis and...
Analysis and Report - "The Science of Cool" During this lesson, you've learned about the variety...
Analysis and Report - "The Science of Cool" During this lesson, you've learned about the variety of research methodologies that a psychologist scientist may choose to use in answering a research question. Now it's your turn to think carefully and creatively through a research question and choose an appropriate method. The research question:   What is the concept of "Cool"? Can we identify people who are "cool"? Are there benefits (or effects) to being a "cool" person (i.e. what might cool...
Como Tool and Die was a second-tier component supplier to the auto industry. Its largest customer...
Como Tool and Die was a second-tier component supplier to the auto industry. Its largest customer was Ford Motor Company. Como had a reputation for delivering a quality product. During the 1980s and the early 1990s, Como’s business grew because of its commitment to quality. Emphasis was on manufacturing operations, and few attempts were made to use project management. All work was controlled by line managers who, more often than not, were overburdened with work. The culture at Como underwent...
Como Tool and Die was a second-tier component supplier to the auto industry. Its largest customer...
Como Tool and Die was a second-tier component supplier to the auto industry. Its largest customer was Ford Motor Company. Como had a reputation for delivering a quality product. During the 1980s and the early 1990s, Como’s business grew because of its commitment to quality. Emphasis was on manufacturing operations, and few attempts were made to use project management. All work was controlled by line managers who, more often than not, were overburdened with work. The culture at Como underwent...
The project has been performing as planned, and the team members have been exhibiting increasing levels...
The project has been performing as planned, and the team members have been exhibiting increasing levels of trust between each other. The sponsor and the buyer have been satisfied with the delivery of business value, and user acceptance testing results are positive. A technical expert consulting with the team has expressed concerns that the team is not in agreement on the best way to deliver to the next review. If the project manager wants to support the team in reaching...
Case Study Big Data Stewart Clegg Radically changing your business due to disruptive innovation requires a...
Case Study Big Data Stewart Clegg Radically changing your business due to disruptive innovation requires a different approach. When dealing with disruptive innovation, the alignment and/or realignment of an organization’s assets might not be enough to sustain competitive advantage. When newcomers use the latest technology to disrupt an entire industry, the incumbents will need to take drastic measures to change their organization. The emergence of strategies driven by Big Data means a transition to a data-driven, information-centric organization consisting of...
Instructions: The assignment is based on the mini case below. The instructions relating to the assignment...
Instructions: The assignment is based on the mini case below. The instructions relating to the assignment are at the end of the case. The Case Mike Chang and Joan Brown are facing an important decision. After having discussed different financial scenarios into the wee hours of the morning, the two computer engineers felt it was time to finalize their cash flow projections and move to the next stage – decide which of two possible projects they should undertake. Both had...
Rosa Lee and Scott Bradshaw are facing an important decision. After having discussed different financial scenarios...
Rosa Lee and Scott Bradshaw are facing an important decision. After having discussed different financial scenarios into the wee hours of the morning, the two computer engineers felt it was time to finalize their cash flow projections and move to the next stage – decide which of two possible projects they should undertake. Both had a bachelor degree in engineering and had put in several years as maintenance engineers in a large chip manufacturing company. About six months ago, they...
Read the case and answer the following Multiple choice questions. There are 5 questions total, where...
Read the case and answer the following Multiple choice questions. There are 5 questions total, where some of them might have more than one correct answers. You can choose more than one options where you think is suitable for the above question. PERFORMANCE MANAGEMENT Project Manager Oliver Caine skimmed his notes as he waited for Ben Robins to come to the meeting room. He hoped Ben would arrive soon, as he wanted to get the con-versation finished quickly. Ben walked...
This case assignment draws from the Business Information Systems and the Systems Acquisition and Development modules...
This case assignment draws from the Business Information Systems and the Systems Acquisition and Development modules (Chapters 5 to 8). Its purpose is to provide you with experience in analyzing organizational information systems, making recommendations to improve these systems, and formulating a plan to execute on your recommendations. 1. Recommend one of your alternatives that is the best solution to the main issue and justify your recommendation. Your justification should be based on the key decision criteria and you must...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT