Research and discuss the topics of data analysis and data visualization as it relates to the...

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Research and discuss the topics of data analysis and data visualization as it relates to the accounting profession. How do they impact and enhance financial statement analysis?

Research and discuss the topic of Sustainability and Corporate Social Responsibility. How can this reported information affect or enhance financial statement analysis. Should this type of reporting be required? Why or why not/

need at least 1 reference apa formatted. do not waste space on a intro or conclusion. its not necessary. just answer the 2 questions

Tanmoy · Accepted Answer

Data analysis and data visualization:
Accounting is related to critical thinking. As described by Luca Pacioli, it was the importance of maths and the business transactions used for evaluating the data (Tushar Rathod, 2017). With the help of data analytics, the accountants are able to uncover valuable information of businesses. This can be done with the help of the financials, recognizing the process which can augment the efficiency and efficient risk management. The accountants are able to add value to their businesses based on the decisions made by them for their clients. Hence, to enhance the collaboration with the business leaders, the organizations along with the accountants needs to create a strong facility based on data analytics which can act as an instrument for expansion. 
Data visualization is a process which consists of visual representation of data which ranges from a single chart to interactive dashboard. Through this process the users are able to reduce the time required to process the data and access valuable information (Tableau; 2003).
Impact on Financial Statement Analysis:
Data analytics is used in analysis of financial statement of companies in various ways. These methods can be by edifying goals of the company, planning for a financial policy and analysis of the economic trend of a company. Thus, based on the historical data of the company the present and future financial health of the organization is evaluated (Phocas Software; 2020).

Research and discuss the topics of data analysis and data visualization as it relates to the accounting profession. How do they impact and enhance financial statement analysis? Research and discuss...

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