Utilize a spreadsheet and calculator alongside you during the process
In the world of business, accuracy and precision are paramount, and this extends to financial reporting. Even when numbers seem to be correct at first glance, SEC financial filings require a thorough check for accuracy (1).
Business operations can be unpredictable, and one such uncertainty is customer payments. Sometimes, companies may experience a sudden slowdown in payments from customers (2). In such situations, having the right tools to analyse data can make all the difference.
Enter spreadsheets, powerful tools that can be used to build models for analysing data, such as running totals of product category sales. They are indispensable in business work, where financial references play a crucial role (3). Whether it's on a desktop, laptop, tablet, or through cloud services like Google Sheets, spreadsheets are easily accessible (4).
For journalists specialising in economic reporting, the most common spreadsheet programs in use are Microsoft Excel and Google Sheets (5). These tools serve not only as organisational aids but also as tools to interrogate a company's fiscal performance, complementing the information provided by corporate officials (6).
Moreover, spreadsheets can help in downloading and analysing a company's financials, and calculating additional metrics like expense categories as a percentage of revenue (7). This level of detail can help in developing industry benchmarks and identifying where a company deviates from the norm (8).
Comparing things that a company doesn't publicly disclose is a powerful technique for business reporters (9). By analysing multiple leading companies' financials in a beat, insights can be gained that might otherwise remain hidden.
In the realm of technology and science, calculators with scientific capabilities are essential (10). These tools, when equipped with financial functions, can simplify business work significantly (11).
Interestingly, major companies may spend less on Research and Development over time as a percentage of revenue (12). This trend, when observed, can have significant implications for the company's future growth and innovation.
In conclusion, spreadsheets and calculators are invaluable tools in the world of business. They provide a means to delve deeper into a company's financial performance, enabling more informed decisions and insights. Whether you're a business professional or a journalist, these tools are essential for navigating the complexities of the financial world.
