Question

Explain the difference between a worksheet and a workbook. Describe the different between a relative reference and an absolute reference, and give an example of when you would use each. How do you control the appearance of data in a worksheet? Discuss some efficiencies of using digital resource tools like Excel to complete accounting work, over the manual approach.

Answer 1

Ans.

A Workbook is the whole excel file which contains different sheets within, which can be deleted or added as and when required.

Whereas, a worksheet is the sheet under a workbook which has numerous data, calculations or records.

For example there is an excel File named "Stock Book 2018" which has different sheets named as months of like Jan, Feb or March. Here the workbook is the excel file "Stock Book 2018" and worksheets are the different months Sheets which has the records of each month.

Relative reference are the excel formulas which changes when copied or filled to different Cells. Whereas, Absolute Reference does not change as such, the references are locked by putting $ signs before the cell references in formula.

For example if you want to lookup values from fixed set of data then Absolute Reference will be useful.

Efficiencies of using digital resource tools like Excel to complete accounting work, over the manual approach are:

• Saves Time by automation of calculations
• Formats can be saved so that the reports will have unanimity.
• Data can be saved for long time effectively
• Data can be retrieved easily
• Saves headcount cost
• Minimal paper work
• Accuracy of data and results