Answered: How do accountants use data analytics…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter1: Accounting As A Tool For Managers

Section: Chapter Questions

Problem 5Q: How do the subject matter of reports and the verification of reports differ between financial...

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How do accountants use data analytics to help address business problems in the following areas:
Auditing, Tax, Managerial Accounting, Financial reporting?

Process of recording, summarizing, and analyzing financial information to prepare financial statements, and making them available to stakeholders, thereby enabling them to make an informed decision about the company. Financial reporting is an extension of financial accounting that deals with the presentation of financial information in accordance with the requirements of prescribed accounting standards.

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