I cameacross an informative and comprehensively written article on the mistakes wemade while using the spread sheets that was written by “PricewaterhouseCoopers(PWC)” under the title of “Spreadsheet Mistakes”. It states that the use ofspreadsheets is a common practice in any business entity and this use does notlimit to accounting and finance functions only.
Almost every business divisionuses these sheets to record and present the required information. The use ofthese spreadsheets provides an impressive help and support to the staff but italso has its issues that need to be bear in mind. At first the use of thesespreadsheets are practically for the small businesses only as your businessgrows you need to have a developed system that not just record your businessinformation but also present this recorded information in multiple aspect tomany users, a function that lacks in excel spreadsheets. Further the more thebusiness depends on spreadsheets, the more are the chances for errors and mostof time these are human errors that distorts the information. The other issueis the risk of unauthorized access to these sheets, if are not protectedproperly. The ease to change the information in spread sheets further increasethe chance to lose your information to any unauthorized person.
These all factors hashelped me to look at the use of spreadsheets with a different prospect as thesesheets are easy to use but are also open to any manipulations that distorts thedata stored in these sheets. So I will try to implement the standard procedureslike the provision of proper training before the use to these sheets andcontrol the unauthorized access to these sheets through the use of passwords (PWC, 2016).