ACC 430 Milestone Two Evaluation Checklist

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School

Southern New Hampshire University *

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Course

430

Subject

Accounting

Date

Feb 20, 2024

Type

docx

Pages

4

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Bryan Levin Acc 430 11/16/23 5-1 Milestone Two: Evaluation Checklist This report that we will be going over and continue in our exploration into the analysis of two different software systems, Microsoft Excel Power Query/Power BI and Tableau. We have lab data sets performed with both software's, we will explore anomalies and problems that have been discovered within the data analysis for each software. We are also going to investigate quantitative methods that are utilized with each software for data analysis. The report will include a summary conclusion that is determined through the data analysis of each software, along with recommendations to assist the company in deciding with software to go with. Types of problems and anomalies During the analysis of data with each software, we explored different problems and anomalies. A problem or anomaly that was discovered in the labs performed were duplicate payments. The cause of duplicate payments is when there is a lack of attention to invoices received from suppliers. When a supplier sends multiple copies of the same invoice, one needs to check the invoice number and that it has not been paid yet. Both software's showed within the labs performed that there was a strong representation of duplicate payments. Microsoft Excel Power Query/Power BI allowed the ability filter specific data types and create net columns for the Slainte payment sheet and create a new formula for the column to filter our duplicate payments. With Tableau there was a similar process. It was possible to convert each data set
being analyzed into dimensions. I was able to create a calculated field for duplicate payments that shows a clear presentation of the duplicate payments. Another problem and anomaly that I investigated was evaluating the job costs of different jobs that within the company. To be able to do this we need to look at the actual costs, budgeted costs, and favorable costs related to direct material, direct labor, overhead and profits. By performing this analysis, it helps the company see the variances in different cost components that can possibly affect the company's profitability. While performing each lab in the software's, it had been discovered that both software's allow one to calculate the actual costs and budgeted costs and to be able to create a strong visualization for favorable and unfavorable costs that are associated with each job performed within the company. Quantitative methods and applications Quantitative methods are another area that is important to take into account. Looking at everything from a quantitative perspective, you look at correlations, performance, and problem areas within the company. Utilizing these functions within the company, doing functions such as regression analysis can be used to predict how the company is performing or to make sure that the company is heading into a direct into that executive management is hoping to obtain. We can also use profiling as another thing that a company can do as well, this would help the company investigate specific data sets that will make it that much easier to locate any possible outliers within the company. After that data can be used to see how or if it is affecting the company in any possible way. Both Microsoft Excel Power Query/Power BI and Tableau can be used in this particular scenario. We can investigate clustering as an alternative method.
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