Q. Separation of data and report areas (5 marks) Why should accounting spreadsheet reports be designed...

Q. Separation of data and report areas
Why should accounting spreadsheet reports be designed with a completely separate data entry area and a separate report area? Paste a simple spreadsheet example showing normal and formula views.

Expert Solution

It is financial modelling best practice to keep your input data and reports in different tabs so that

Mistakes in one file do not affect the other
Ease of data entry updation and review-it is easier to understand a spreadsheet with clearly labelled input and output tabs
Also when you have to add data for new reporting periods you can just modify one tab and update the report range.

All Excel formulas begin with an equal sign (=).
After the equal symbol, you enter either a calculation or function. For example, to add up values in cells B1 through B5, you can either:
- Type the entire equation: =B1+B2+B3+B4+B5
- Use the SUM function: =SUM(B1:B5)
Press the Enter key to complete the formula. Done!

ekkarill92 answered 1 year ago

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