Question

Q1. What software other than Excel may work to perform substantive tests on data? Would it make the task easier or more difficult?

Q2. How can pivot tables be used to analyze data? What are some very useful formulas and shortcuts you have found to make tasks easier in Excel?

Answer 1

Q1. What software other than Excel may work to perform substantive tests on data? Would it make the task easier or more difficult?
Ans. Computer-assisted audit techniques (CAAT) is a software that performs substantive tests of data better than excel. It is more comfortable as compared to excel since it consists of many features that excel doesn't support like Parallel simulation, mapping, snapshot embedded audit module, etc.

Q2. How can pivot tables be used to analyze data? What are some very useful formulas and shortcuts you have found to make tasks easier in Excel?
Ans. A pivot table can be used by adjusting the field tables. The formula for creating a pivot table is Alt>N>V>T, then change the field tables in the order we want for proper filtration of data as per our data requirements. We can use one more formula in excel by typing '= pivot' for creating a pivot sheet.

Some shortcuts that are used frequently in excel while using a pivot are:

1. For refreshing current pivot table: ALT+F5

2. Selecting entire pivot table: CTRL+A

3. Create Pivot chart on new sheet: Select a Cell in pivot table and press F11

4. Group selected Pivot table items: ALT+SHIFT+RIGHT ARROW