Building Financial Accuracy into Spreadsheets

TL;DR

This paper discusses the limitations of current spreadsheet financial functions in accounting education, highlighting issues caused by regional differences and user interface design, and proposes integrated guidance improvements.

Contribution

It introduces suggestions for enhancing spreadsheet prompts and help screens to better support financial practice and user understanding.

Findings

Identification of problems with existing financial functions

Proposals for integrated guidance in spreadsheet tools

Potential improvements in teaching accounting with spreadsheets

Abstract

Students learning how to apply spreadsheets to accounting problems are not always well served by the built-in financial functions. Problems can arise because of differences between UK and US practice, through anomalies in the functions themselves, and because the promptings of Wizards' engender an attitude of filling in the blanks on the screen, and hoping for the best. Some examples of these problems are described, and suggestions are presented for ways of improving the situation. Principally, it is suggested that spreadsheet prompts and 'Help' screens should offer integrated guidance, covering some aspects of financial practice, as well as matters of spreadsheet technique.