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ACCA Applied Knowledge · Management Accounting · Spreadsheets

A company's budget workbook is used by five managers. Which combination of controls best reduces the risk of unauthorised or accidental changes to formulas while still allowing managers to enter their own forecasts?

The best approach is to lock and password-protect the formula cells, leaving only the designated input cells unlocked for managers, and to keep backups with version control. This prevents accidental overwriting of formulas while still permitting forecasts to be entered and the model to recalculate.

  1. ALock and protect formula cells with a password, leaving only the designated input cells unlocked, and keep version-controlled backupsCorrect
  2. BHide all worksheets and give all managers the password to every cell
  3. CConvert all formulas to typed values after calculation so they cannot be changed
  4. DPlace inputs and formulas in the same cells so that managers see every calculation

Explanation

Protecting the sheet with only input cells unlocked prevents accidental overwriting of formulas, and backups with version control allow recovery. Converting formulas to values destroys the model's ability to update. Giving everyone full access or mixing inputs and formulas increases risk.

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