Colorado State University Global Campus Excel Spreadsheets Discussion – Assignment Help

I’m studying for my Accounting class and don’t understand how to answer this. Can you help me study?

Read Example1 and explain your take away. Add additional information. Your document should include minimum 200 words plus credible references.

Example 1:

Spreadsheets have excellent tools used to input, track, analyze, and
store data. The advantages of excel are organizing data, streamline
calculations and multiple user access. It gives a place for all
information to be neatly entered into rows, columns, and sort the
information type. Even when using big data, the raw data can be easily
converted to visual presentations such as pie charts, graphs, etc. The
streamline calculations are straightforward and reduce repetitive work.
Natter (2019), “Once a formula is written and the program has a set
command, complex calculations can easily be computed for the related
data that has been input. This allows users to ask “what if” types of
questions and to easily get the answers they need without the need to
rework the calculations.” Also, the multiple user access is handy as the
same document can be changed and shared with multiple users; however,
only one user can make changes at one time. The disadvantages are the
following:

• Lack of control and security
• Susceptible to human errors
• Difficult to troubleshoot or test
• Regulatory compliance challenges
• Hard to manage data security

As an auditor, tools such as visualization of data in different types
of graphs, charts, etc. are essential. Real-time collaboration is also
an added value, along with the advanced features like pivoting that
works best for the task is a consideration for an auditor.

If I were to sell the idea of an alternative to Excel, I would try to
explain the advantages of the choice, such as google sheets. This is a
cloud service and has similar features to Excel. In the time of cloud
services, this would be an excellent option to look into. The service
will be efficient and user-friendly and easy access.

Reference

McCormick, M. (2016). 11 Disadvantages Of Using Excel To Manage Your Pricing. BlackCurve

https://blog.blackcurve.com/11-disadvantages-of-us…

Natter, E. (2019). The advantages & disadvantages of spreadsheets. Small Business

https://smallbusiness.chron.com/advantages-disadva…