Income statement o revenue costs net income ocosts

Income Statement
o Revenue – Costs = Net Income
o Costs should be broken down into Variable and Fixed Costs
 Variable Costs – associated with each item
 Fixed Costs – associated with overall production
o Net Income – Taxes = Net Profit
 Taxes are also a cost
 EBIT – Earnings Before Interest & Taxes
 Worksheet Grouping – if you want to edit multiple worksheets of similar format at the same time
o Hold CTRL and click the sheet tabs of the sheets you want to group
o To ungroup, right click one of the sheet tabs and click Ungroup Sheets or click any sheet
tab outside the group.
 3D References
o Excel worksheet has two dimensions (column and row). You can refer to a cell in a
worksheet by using its column and row identifiers such as B11 (column B, row 11)
o If you have several worksheets in your Excel file, the worksheet (name) can be used as
the third dimension – Imagine stacking one worksheet behind the other thus making a
data cube
o Single Cell in Another Sheet: ‘Worksheet Name’!D6
o Same Cell in Multiple Sheets: SUM(‘Quarter 1:Quarter 4’!E6)
Lecture VIII – Information Quality & Collaborative Consumption
 Collaborative Consumption
o Collaborative consumption and sharing economy are terms used to describe the
appearance of new marketplaces where excess capacity in goods and services can be
shared using information technology.
o Key to making collaborative consumption work is “trust” and “efficiency”
o Information technology empowers individuals and organizations to share their excess
inventory (or time)
o Note that the premise for the success of all such marketplaces is good quality information
o “…one thing is for certain – collaborative consumption is a disruptive trend, and one that
will continue to shake things up this year. Trend watchers around the world are naming
the movement as one of the top trends to watch this year, and we look forward to seeing
how it is integrated into business strategy thinking by incumbent and new players alike.”
o We are seeing a classic “creative destruction” happening – destroy value to create new
value. Look at t he impact of ‘on - demand’ ridesharing platforms such as Lyft, Uber &
Sidecar – two thirds of the ‘traditional’ taxi industry’s revenue has been lost in less than 3
years.
o Economists would call the underlying motive “Coincidence of Wants”
o 20 th Century Hyper-Consumption to 21 st Century Collaborative Consumption

Svac 10
 Renewed belief in importance of community
 Removes the middleman, back to peer-to-peer
 Focus on working together, collaborators
o The phenomena has huge commercial implications
o This is creating an economy of “What is mine, is yours”
 Social Networking vs. Service Networking
o Social Networking Platform: a platform to build social networks or social relations
among people who share interests, activities, backgrounds, or real-live connections
o Online Communities: service where the services provided are group-centered: sharing of
ideas, pictures, events, etc. (Dropbox)
