Sweet Pete's, a local bakery, is in need of your help. So far owner Pete has been
Question:
Sweet Pete's, a local bakery, is in need of your help. So far owner Pete has been keeping his books, stock, etc. in a manual ledger, but spilling a cup of coffee on it by accident made him realize he can do better! That's where you come inyou need to help him analyze exactly what his business needs when it comes to data and data management. Help him figure this out and draw up a short organizational chart that covers the sort of improvements using Excel for his finances could bring him. Also, mention the principles of data analysis to Pete and explain them to help him understand how you came up with the plan that you did?
In order to make this easier to understand, create a mock-spreadsheet for Pete as well, one that details his incoming and outgoing finances. Account for money moving with appropriate fields of data, and be sure to use a binary field to track whether it's an incoming or outgoing amount, use data fields to track and order the payments, and add at least five entries that may be common for a bakery (think about bulk orders for food that would bring money in or purchases of ingredients that would cost money, along with rent, etc.).
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson