Data Analytics in the fields of Accounting and Finance.pptx

This presentation aims to give insights and further information regarding data analytics in the fields of accounting and finance

1. Prepared By: Charles Ethan Chua Accounting and Finance Analytics

2. Analytics in the field of finance and accounting This aims to discern patterns in customer spending, identify market behavior, anticipate trends, and predict reactions. Involves managing, analyzing, and mining multiple streams of data.

3. They both aim to Be more strategic Boost value and credibility of a business’ finance function Paint a picture Present easy to interpret visualizations for easier understanding and heavier impact See into the future Provide insights Put pieces together Combination of internal and external data

4. What is Accounting Analytics? Importance and uses Monitoring and Improving business performance Improving client experience Identifying and managing risks Cash-flow analysis

5. What is Finance Analytics? Uncovers accurate, actionable, and realistic insights across departments Prediction and planning Immediate response on marketing shifts and trends Error and redundancy reduction Importance and uses

6. Importance of finance analytics Horizontal Analysis Multi-company Comparison Industry Comparison

7. Types of Financial Analysis Horizontal analysis Side-by-side comparison Aims to determine major shifts in data Multi-company Comparison Comparison of financial ratios of two organizations Must be of the same industry sector Aims to find financial related strengths and weaknesses

8. Types of Financial Analysis Industry Comparison Contrasts the results of a specific business and the average results of an entire industry. Aims to determine any unusual results in comparison to the industry’s average.

9. Financial Analytics Process

10. They both aim to Focus FA: Decision making and overall strategy AA: Ensures transparency, anomaly detection and fraud Purpose Fa: Strategy AA: Integrity Methods and techniques FA: Predictive modeling AA: ratio and variance analysis Data sources FA: External Data AA: Internal Data

11. They both aim to users FA: Analysts, investment professionals AA: Auditors, accountants Time horizon Fa: short- and long-term financial performance AA: historical data and accuracy

12. Thank you!!