Tax accountants use data science to quickly analyze complex taxation questions related to investment scenarios. The result: less margin of error resulting in more precise recommendations.
“A strong facility with data analytics gives them the toolset to help strengthen their partnership with business leaders.”Īuditors, both those working internally and externally, can shift from a sample-based model to employ continuous monitoring where much larger data sets are analyzed and verified. “Accountants will be increasingly expected to add value to the business decision making within their organizations and for their clients,” comments Associate Professor Wendell Gilland, who teaches Data Analytics for Accountants at UNC Kenan-Flagler Business School. Test your IQ here”.īut why is this important? And what does it have to do with accounting?Īccountants use data analytics to help businesses uncover valuable insights within their financials, identify process improvements that can increase efficiency, and better manage risk. > Are you data savvy? It’s a key component of your Business IQ. It’s very likely that you’ve heard these expressions around the office.
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