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  #341  
Old 09-02-2017, 07:16 AM
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Originally Posted by ActSciMan View Post
Speaking of the YYYY-MM-DD format, I like when people run a report monthly and they put it in a new folder each month and they type the date like "Jan 2017", "Feb 2017", Mar 2017", so that when you look at the folder, it's not in any way organized by order of when the report was run. Just do 2017-01, 2017-02, 2017-03 and then it's perfect.
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  #342  
Old 10-26-2017, 03:47 PM
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http://www.ksby.com/story/36685143/s...er-human-error


Quote:
SLO County budget surplus now a deficit after 'human error'

An $8 million mistake. That's what San Luis Obispo County found in next year's general budget forecast.

"It was human error. The $8 million was overlooked, unfortunately," said County Budget Director Emily Jackson.

Earlier this month, the county projected a surplus in the budget of $3-5 million. However, after discovering an oversight, that surplus is now a deficit of $2.8-4.8 million.

"It's common, it's human, everyone does that. I'm glad I'm not responsible for it though," said Bobby Gallow, San Luis Obispo resident.

The county says recently approved salary increases were "inadvertently omitted in the calculations." Basically, someone forgot to include those numbers in the spreadsheet.

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  #343  
Old 10-26-2017, 09:51 PM
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auto formatting can GO TO HELL!
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  #344  
Old 10-27-2017, 12:42 AM
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Originally Posted by ActSciMan View Post
Speaking of the YYYY-MM-DD format, I like when people run a report monthly and they put it in a new folder each month and they type the date like "Jan 2017", "Feb 2017", Mar 2017", so that when you look at the folder, it's not in any way organized by order of when the report was run. Just do 2017-01, 2017-02, 2017-03 and then it's perfect.
You organize your folders by name, ActSciMan?
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  #345  
Old 11-09-2017, 06:59 AM
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https://www.fin24.com/Economy/Eskom/...ifies-20171108

Quote:

Eskom made R1.5bn spreadsheet error in Optimum fine - Daniels

Suspended Eskom head of legal Suzanne Daniels said Eskom’s board tender committee recommended she settle about R200m lower than what the calculations showed regarding the Optimum fine.

The struggling Optimum mine was bought by Tegeta Exploration & Resources, a company owned by the Gupta family and President Jacob Zuma's son Duduzane, after it went into business rescue.

The original fine had been R2.2bn (which saw the firm go into business rescue), but when Daniels met with a committee to discuss this, they discovered there had been an error in the spreadsheet.

“I was shocked at the answer,” she said. “There was an error in the spreadsheet. At that point, I was beyond furious. We have gone out in the media to say it was R2.2bn.”

“The final analysis of the claim showed the fine should have been R722m. I was quite pleased to hear Mr Marsden (Optimum business rescue practitioner) estimated it to be around R700m.”

“I was quite perturbed as there was reputational issue and risks for Eskom.”

She took this new information to the tender board committee. Here, board member Pat Naidoo said she should settle at no less than R500m, according to Daniels.

She was not happy with this, as it should have been around R700m. She said she eventually settled with Optimum (and Tegeta) at R577. R248m had already been paid, so Optimum owed the balance to paid over duration of contract, which ends next year, she said.

Suspended Eskom chief financial officer Anoj Singh told media in July 2017 that the fine was reduced because of a problem with the coal crusher.

Eskom struck a deal with Tegeta on the fine in March during arbitration. However, the power utility refused to disclose the details of the agreement, citing a confidentiality agreement. "Eskom went into this process with legal opinion saying it should settle this claim," said Singh.

He said the underlying nature that gave rise to the claim was that Eskom was disputing coal quality from the mine. The poor quality was because of a change in sampling equipment in 2010, said Singh.

"The change meant it was different than the original sampling equipment. The new design had a crusher, which increased the reject coal put in the plant. It gave a false positive of quantity of reject coal. This was the outcome of investigations over three to four years," he explained.

"We realised the contract was punitive and poor quality coal was being delivered. That is why the amount ramped up so quickly. When we realised the crusher was the problem, we understood that we had sufficient information that the crusher was causing this.

"That is why we went into settlement. The contract manager said the claim should be R700m. This was then discounted to R255.4m."
R1.5bn = $23m
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  #346  
Old 01-30-2018, 04:05 PM
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Is there anything worse than a macro built by recording a macro and copying and pasting it over and over and over again?

Spoiler:
to add salt to the wound, doing something that can be done faster and quicker with a simple formula....
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  #347  
Old 01-30-2018, 05:11 PM
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Let's build a macro to build more macros like that.
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I should keep these four permanently.
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JMO is right
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And def agree w/ JMO.
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This. And everything else JMO wrote.
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  #348  
Old 02-01-2018, 07:32 PM
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Quote:
Originally Posted by whisper View Post


Is there anything worse than a macro built by recording a macro and copying and pasting it over and over and over again?

Spoiler:
to add salt to the wound, doing something that can be done faster and quicker with a simple formula....
well, if a solution already exists...
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  #349  
Old 03-26-2018, 05:54 AM
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https://www.theguardian.com/business...nancial-errors

Quote:
Conviviality seeks 50m in rights issue after financial errors
UK drinks retailer saw its shares suspended after shock profit warning over arithmetic mistake
Spoiler:
Conviviality, owner of the Bargain Booze and Wine Rack chains, is seeking to raise more than 50m in an emergency rights issue next week after a series of catastrophic financial errors that have resulted in the suspension of its shares.

On Friday the drinks retailer, which also operates the wholesaler Matthew Clark, told the City it was considering asking shareholders to inject fresh funds into the business. Investors were receptive to bailing out the company, a well-placed source told the Guardian, with the company looking to raise at least 50m.

Shares in the company, run by its chief executive, Diana Hunter, were suspended on Wednesday after two profit warnings in the space of a week wiped more than 60% off its stock market value.


Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDesk
The shares were suspended at 101p after a precipitous fall that began last week when it blamed a shock profit warning on an arithmetic error made by a member of its finance team.

At that time the retailer said profits would be 20% lower than the 70m expected by the City, with 5.2m of the 14m hole that had opened up in its forecast down to a spreadsheet error, while the remainder was a reflection of weakening profit margins.

Quick guide
The state of UK retail's ill-health

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Conviviality is a major player in the UK drinks industry, with sales of 1.6bn in 2017. It supplies more than 700 off-licences – a mix of company-run and franchise stores. Its wholesale arm, which includes the Matthew Clark and Bibendum businesses, is the market leader with 23,000 pubs and restaurant customers including the JD Wetherspoon chain.

The blow to management credibility dealt by last week’s profit alert was compounded by this week’s admission that it had not budgeted for a 30m tax bill that falls due at the end of March and as a result was in urgent talks with its banks about funding.


The tale of woe means Conviviality now has a market value of just 185.5m compared with 567.3m before the first unscheduled trading update. It has also cancelled its interim dividend to save 8.2m.

In a statement Conviviality said it had asked accountants from PwC to lead a “review of the business and its future finding requirements” and that its customers and suppliers “remain supportive” of the company.

It also added: “The company has engaged with HM Revenues and Customs regarding the 30m payment due on the 29 March 2018. HMRC has been receptive to our needs and these discussions continue.”
https://www.theguardian.com/business...alt-bankruptcy
Quote:
Bargain Booze owner Conviviality must raise 125m to halt bankruptcy
Firm issues third profits warning; says it will meet investors to raise funds via a share placing
Spoiler:
Bargain Booze’s owner, Conviviality, has made clear it is likely to go bust unless it can raise 125m, as it issued its third profits warning in a month.

The company, in a stock exchange announcement, said it was holding meetings with investors to raise 125m via a share placing that would help it pay a 30m tax bill due at the end of the month, fund overdue payments to creditors and repay a 30m loan.

Conviviality said it was also looking at alternative sources of funding and if it was unable to raise the funds required it was “unlikely to be able to trade on a going-concern basis”.

Shares in the company, which also owns the wholesaler Matthew Clark, were suspended at 101p last week after two profit warnings in the space of a week wiped more than 60% off its stock market value.

The company blamed the first shock profit warning on a spreadsheet arithmetic error made by a member of its finance team and weakening profit margins, and then admitted it had not budgeted for the 30m tax bill due this month.

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  #350  
Old 04-09-2018, 09:22 AM
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Spreadsheet horror stories page has been updated:
http://www.eusprig.org/horror-stories.htm
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