next part Requirement 3. How might spreadsheet software such as Excel assist in this type of analysis? Technology, such as Excel spreadhseet software, makes it more cost-effective time-consuming to conduct financial statement analysis sensitivity or "what-if" analysis and prepare a company's annual report. master budget. If managers have a better understanding of how changes in sales volume and costs are likely to affect net income the annual report , they can maintain the same course of action react quickly and make changes if key assumptions turn out to be wrong