Data analysis and Financial Accounting: Online Tutorial
07th April, 2016
Data analysis is the process of examination of raw data using statistical and logical techniques to appraise the data. Accurate data analysis is critical in ensuring data integrity in qualitative research. Raw data requires being analyzing, inspecting, cleaning and transforming into information that is useful in the tabulation of the wrapping up of the research. Data analysis is a significant statistical tool where it is divided into descriptive statistics, groping data analysis and confirmatory analysis of data. The analysis is conducted on data so as to filter it and effectively renovate it to information that is relevant to users.
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Financial accounting is a branch of accounting that keeps track of financial transactions. Using the given guidelines, transactions are recorded, summarized and presented in the financial report or financial statements such as the income statement or a balance sheet. Companies issue financial statements on a regular basis as they are a record incentive for the company's stakeholders.
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