MathildaRock
  • Home
  • TAILORED SERVICES
  • Insights Blog
  • About
    • MY SPECIALITIES
    • Qualifications
    • PRESENTING
    • TRAINING
  • Contact

insights blog

INSIGHTS BLOG

The power of financial data analysis

8/1/2021

1 Comment

 
There’s a difference between data and information. Data is a collection of individual facts, information is the arrangement or sequence of the facts.

In accounting, data can be represented by the individual transactions, and information as the resulting reporting of those transactions as a group leading to a total.
​
Businesses and organisations have a lot of financial data, but not all of it is converted into information. 
Statutory financial reporting requires the data to be organised into certain categories, in particular ways. Each transaction is recorded in a way so as to meet those categories and to provide the reports needed.

But that data can also be used for non-statutory reporting.

The beauty of data analysis is that data can be re-organised into information that is extra to the usual reports and can give management more specific insights into their business performance.

Do you have data in your financial accounts that can be used in other ways? That can be used to provide information about your business that the standard reports don’t tell you? That can be used to help identify specific aspects of your business performance?

I suspect you do. And I can help you find it. Contact me to find out more.
CONTACT US TODAY!
1 Comment
skills in business management link
1/24/2025 10:09:02 pm

One of the most valuable skills in business management is adaptability. In today’s fast-paced environment, being able to pivot quickly and adjust to market changes can make or break a company.

Reply



Leave a Reply.

    INSIGHTS BLOG

    BUSINESS GUIDANCE

    News, opinions, information and first-hand experiences.

    Categories

    All
    Accountants
    Bookkeeping
    Budgeting
    Business
    Cash
    Cashflow
    Data Analysis
    Double Entry Bookkeeping
    Financial Accounting
    Graduates
    Literacy
    Management
    Management Accounting
    Myob
    Numbers
    Numeracy
    Processes
    Profit And Loss
    Reporting
    Statistics
    Xero

    RSS Feed

Powered by Create your own unique website with customizable templates.
  • Home
  • TAILORED SERVICES
  • Insights Blog
  • About
    • MY SPECIALITIES
    • Qualifications
    • PRESENTING
    • TRAINING
  • Contact