Today, organizations create and collect massive amounts of data, and accounting professionals are using analytics to provide data-driven insights and recommendations to stakeholders. Understanding how to identify accounting and auditing questions, use data to answer those questions, and communicate insights to decision-makers provides an opportunity for accountants to be trusted business advisors.
This course will prepare you to think critically about how to leverage accounting data to make decisions mainly in the financial accounting and auditing contexts. You will develop an analytics mindset through hands-on assignments and projects using common accounting analytics software applications adopted in practice. These assignments involve manipulating and transforming raw data into workable data sets, using data visualization and other tools to analyze these data sets for decision-making purposes, and communicating the results of the analyses. The course will also expose you to practitioner and academic perspectives on analytics through a combination of readings, class discussions, and practitioner presentations.
After completing this course, you should be able to:
- Ask and answer the “right” questions using an analytics mindset;
- Make data-driven decisions, particularly in the context of auditing;
- Explain how data analytics can be used in accounting and auditing to find patterns, errors, and anomalies and provide insights useful to decision making;
- Understand the role and purpose of data analytics in the accounting profession; and
- Use multiple software tools to manage data, perform and interpret analyses, and communicate the results to decision-makers.