Spreadsheet modelling in practice

Article Abstract:

Accounting firms are discovering new ways to maximize the use of electronic spreadsheet packages such as Lotus 1-2-3 and Quattro Pro. At Stoy Hayward, which recently merged with Finnie and Co, Lotus 1-2-3 Version 3. 1 has been adopted, partly because of its excellent three-dimensional modelling and documentation capabilities, and partly because it permits standard macros and packaged financial models to be incorporated within the system, thereby enabling easy-to-use standard spreadsheets to be used throughout the company. At BDO Binder Hamlyn, on the other hand, Quattro Pro for Windows has been adopted, partly because of the flexible licensing arrangement that BDO was able to negotiate with Borland, and partly because of the package's outstanding features, such as convenient object inspectors and the ability to organize spreadsheets in notebooks.

Software, Information management, Accounting firms, Accounting services, Spreadsheets, Spreadsheet software, Accounting software, Stoy Hayward, BDO Binder

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Accountants on the bleeding edge

Article Abstract:

Accountants have traditionally kept their distance from sophisticated technology because of their belief that accounting systems do not require 'rocket science' as long as they are accurate, reliable and easy to use. Many believe that the risks of using sophisticated technology exceed its potential benefits. However, this thinking is undergoing revision as accountants in finance departments are increasingly compelled to provide management information to their companies' other departments. These professionals are realizing that they have to take risks if they are to analyze information rather than just collect and store them. Only those who are prepared to venture near the 'bleeding edge' of technology will be able to reap its promised rewards.

Information services, Technology, Accountants

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Want to be an information engineer?

Article Abstract:

The rapid growth of the digital economy is pushing the accounting practice to the brink of a major transformation. The globalization of business, changes in the business culture, innovations in information technology, the emergence of new types of 'digital' resources and the growing importance of intangible assets are likely to impact the type of work available in the market, the competition for that work and the performance of that work. The way accountants do their work is likely to change because of the increased efficiency due to automation, the expected shift in emphasis towards systems auditing, the emergence of new methods and forms of accounting and auditing, and the introduction of software agents in online auditing.

Analysis, Management, Information technology, Auditing, Technological innovations

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