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level: Technology

Questions and Answers List

level questions: Technology

QuestionAnswer
what types of technology can be used in the finance departmentspreadsheets, databases, word processing, email, online banking, EPOS
what are spreadsheets used for in the finance departmentcan be used to prepare financial documents such as income statements and cash budgets
what are the advantages of using spreadsheetsformula can be used to ensure calculations are performed accurately graphs can be generated so information can be interpreted more easily IF statements can be used to predict profit/loss in different scenarios
what are databases used for in the finance departmentcan be used to store customer banking information for invoicing
what is word processing used for in the finance departmentcan type up an invoice to send to customers can prepare financial reports for showing board of directors
what is email used for in the finance departmentcan contact suppliers to negotiate a better deal for cost of raw materials
what is online banking used for in financecan send electronic payments to suppliers
what is EPOS used for in the finance departmentelectronic point of sale (EPOS - Barcode scanning) can automatically update the financial records as products are scanned at the checkout (eg. sales totals, break even point)