Course content
In today's data-driven business environment, the role of accountants has evolved from mere financial record-keepers to strategic advisors who leverage data and analytics to drive decision-making and enhance organizational performance. The "Data and Analytics in Management Accounting" course is designed to equip students with the essential skills and knowledge to harness the power of data analytics in the realm of accounting. By the end of this course, students will have the skills and knowledge necessary to leverage business analytics techniques to enhance accounting practices, support decision-making, and add significant value to organizations in a data-driven world.
Contents:
The rise of analytics as a discipline.
Data driven decision making including common decision biases
The role of analytics in accounting.
The role of accountants in data-driven decision-making processes.
How analytics can add value to financial reporting, auditing, and management accounting.
Data Acquisition and Preparation including:
a. Acquire data from various sources, including financial systems, databases, and external data providers.
b. Clean, transform, and prepare data for analysis to ensure accuracy and relevance.
Working with descriptive analytics including:
a. The basics of descriptive statistics to summarize and visualize financial data.
b. Data visualization tools to communicate financial insights effectively.
Working with predictive analytics in accounting:
a. Predictive modelling techniques such as regression analysis and time series forecasting.
b. Predictive analytics to financial forecasting, risk assessment, and budgeting.
See course description in course catalogue