Question

Consider the following scenario: "You are an assistant to the accounting manager for a small company that sells sports equipment online. The manager needs an analysis of sales by product to be presented at Friday’s managers’ meeting and asks you to gather and summarize the data." How can you use Excel to complete this assignment? What information do you need to produce an accurate, useful analysis? What questions might you ask the accounting manager before starting on the assignment?

Answer 1

Answer:

1. Microsoft Excel helps data analysis through different spreadsheet queries and operations options.

2. Input data to the analysis of sales by product is required for the development of formula and extracting results.

3. The information of data source and frequency of report is required to start the work.

Explanation:

1. Microsoft Excel tool can be used to calculate the results of equipment. Obtained results can be displayed in charts and graphs from the excel.

2. Information like the quantity of sold items, remaining items are required to produce accurate, useful analysis.

Before starting assignment accounting manager will be asked the following questions.

1) Where does the input data come from?

2) Is analysis required on a daily basis or once for all provided data?

3) Is Summary is in the form of tabular data, Graphical data, or Both?