If Statement (function) - Accounts Systems Process - Accounting Assignment

Internal Code: MAS6617

Accounting Assignment:

1) Why replace cell references with names? Create a simple spreadsheet and paste Net Profit = Sales fewer Expenses. Show normal and formula views. 2) Why do accountants display negative numbers in brackets? 3) Why should an accountant design spreadsheets with a completely separate data entry area and a separate report area? 4) What is an IF; statement (function)? Reference a YouTube video explaining IF functions. 5) Explain the essential differences between perpetual and periodic inventory systems. Give your own examples of products/situations suited to each. 6) Write a business report critically evaluating spreadsheets as a tool for accounting.