AS Business - Unit 2 Task 4 - Investigating Business
Unit 2 Task 4
There are many different types of software that a company can use to their advantage.
My company can make a massive use of spread sheets, for this I will use Microsoft Excel as this is the software that easily available. With this software I will be able create many things including a Cash Flow diagram (Appendix 1). This will allow me to then work out efficiently the costs of the business, the income of the business and the cash flow throughout the months. This software will also allow me to have formulas to make sure that the totals are correct, due to using the of the if I was to decide that I wanted to pay lower wages or found a supplier with lower prices I could change the figures in my spread sheet and the formula would then change the totals automatically. The formulas that I have used is the ‘SUM’ function to add up the totals and also then used them to add up my Net Cash Flow and my opening and closing bank balances (Appendix 2). This piece of software is very useful as it means I will have no calculations to do myself and will reduce the possibility of mistakes. It also makes the figures and all of my profits/losses and costs very clear, easy to understand and interpret. The disadvantages are that if you do not have some experience in using excel it can be hard to understand and mistakes can be made, even with experience in using it.
Word processors is a very big part of any business and I will be using Microsoft word, this is again to do with how easy it is to get Microsoft products and they are not highly priced. Microsoft word will allow me to type letters to inform current customers of offers or any things that they will need to know. Any mistakes that are made are easily corrected and will still look neat and professional; this is different to if all letters were hand written. The differences to hand writing all of the letters by hand is that firstly the speed, it will be much quicker to do this especially if I wanted to create a
There are many different types of software that a company can use to their advantage.
My company can make a massive use of spread sheets, for this I will use Microsoft Excel as this is the software that easily available. With this software I will be able create many things including a Cash Flow diagram (Appendix 1). This will allow me to then work out efficiently the costs of the business, the income of the business and the cash flow throughout the months. This software will also allow me to have formulas to make sure that the totals are correct, due to using the of the if I was to decide that I wanted to pay lower wages or found a supplier with lower prices I could change the figures in my spread sheet and the formula would then change the totals automatically. The formulas that I have used is the ‘SUM’ function to add up the totals and also then used them to add up my Net Cash Flow and my opening and closing bank balances (Appendix 2). This piece of software is very useful as it means I will have no calculations to do myself and will reduce the possibility of mistakes. It also makes the figures and all of my profits/losses and costs very clear, easy to understand and interpret. The disadvantages are that if you do not have some experience in using excel it can be hard to understand and mistakes can be made, even with experience in using it.
Word processors is a very big part of any business and I will be using Microsoft word, this is again to do with how easy it is to get Microsoft products and they are not highly priced. Microsoft word will allow me to type letters to inform current customers of offers or any things that they will need to know. Any mistakes that are made are easily corrected and will still look neat and professional; this is different to if all letters were hand written. The differences to hand writing all of the letters by hand is that firstly the speed, it will be much quicker to do this especially if I wanted to create a