Question

EA8-C1 Discuss Worksheet Protection Protection can be used at multiple levels to protect workbooks, worksheets, and individual cells. In the case of the bond amortization schedule, this protection ensures that users adjust only certain cells and cannot inadvertently alter elements that should remain static. However, a bond amortization schedule is not the only worksheet for which protection is appropriate. Depending on factors such as the frequency with which a worksheet is disseminated and the number of users with access to the file, various levels of protection can be beneficial for many of the accounting-related spreadsheets. Write a paragraph of at least five sentences to identify four types of accounting worksheets (other than the bond amortization schedule) within which some level of protection would be appropriate. Write a second paragraph of at least eight sentences to discuss why that protec- tion is appropriate and what level of protection you would implement for each

Answer 1

There are various types of accounting worksheets which can be briefly classified into general, detailed and audit worksheets.When you protect a worksheet, you are preventing the user from changing values in cells and making other changes to the worksheet.The prevention described could be as simple as putting a password to it to as complex and logical by accessing restricted modification to it.General worksheets could be a simple journal, ledger to trial balance maintained it.Detailed being depreciation schedules and other projected estimates for future years and stuff. whereas audit related worksheet could contain any schedules and computations relating to audit risk and other assessments.

there is a difference between worsheet protection and workbook protection wherein in the later you protect the entire workbook by enabling encryption, passwords and mark as final where no editing is possible and former you have an option to protect the cells, column and rows locking them individually as weel.

Depreciation schedule can be given restricted access to the users where they could modify only the cells relating to thier domain as in entering the cost of the asset whereas the rates cannot be altered given in the schedules pertaining to the Act which regulates the companies thereby ensuring proper rates and fairness in computations.

Audit worksheet given to the client as a sample can be locked with no editing possible at all to ensure that the client cannot modify, alter or tamper with the data given thereby ensuring the integrity of the data.

Whereas accounting worksheets like trail balance that have a references to other pages within the worksheet which in itself work as control where you try to modify one cell which again as reference to the other sheets which helps you find the inconsistency showing the cells as ERROR