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Drive business success with data analytics

Journal of Accountancy, 2021-06, Vol.231 (5), p.37-51

Copyright American Institute of Certified Public Accountants Jun 2021 ;ISSN: 0021-8448 ;EISSN: 1945-0729

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  • Title:
    Drive business success with data analytics
  • Author: Geerts, Guido
  • Subjects: Big Data ; Business intelligence software ; Business models ; Data analysis ; Data warehouses ; Enterprise resource planning ; Internet ; Radio frequency identification
  • Is Part Of: Journal of Accountancy, 2021-06, Vol.231 (5), p.37-51
  • Description: CPAs and finance professionals rely mainly on their enterprise resource planning (ERP) systems and other accounting software as their primary data sources. A great example is radio frequency identification (RFID) tags, which you can use to track inventory items and update your records in real time. * All the data that businesses collect from their social media pages can be easily analyzed. * Drones are excellent tools for collecting data through observations, such as assessing difficult-to-reach crops and buildings, and they have become increasingly popular with auditors performing inventory work. Sorting through thousands of contracts, such software can automatically generate payment schedules, check compliance with policies and regulations, identify best practices, perform risk assessment as part of internal and external audits, and assess negotiating power by identifying all contracts across the company with the same vendor. * Web scrapers, such as Mozenda, allow you to turn the internet into your personal database. Among the many connectors that are especially relevant for accountants and finance professionals are: * Excel * Text/CSV * PDF * Access database * MySQL database * Microsoft Exchange Online * Dynamics 365 (online) * QuickBooks Online (Beta) * Web Profiling, cleaning, and transforming data Profiling aims at detecting issues with data and data structures.
  • Publisher: New York: American Institute of Certified Public Accountants
  • Language: English
  • Identifier: ISSN: 0021-8448
    EISSN: 1945-0729
  • Source: ProQuest Databases
    Alma/SFX Local Collection
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