As More and More Data Is Available,some Would Argue That

question 13

Essay

As more and more data is available,some would argue that the role of accounting is changing. While accountants don't need to become data scientists,they must develop a base level skill set.Whether they are the Director of Tax for Hewlett Packard or their external auditor,which basic skills are needed by an analytic-minded accountant?

---

Definitions:

Retail Store

A business establishment that sells goods or services directly to consumers, primarily for personal or household consumption.

Depreciation

The systematic allocation of the cost of a tangible asset over its estimated useful life, recognizing the decrease in value over time.

Allocation Bases

Criteria or metrics used to distribute overhead costs to different departments or products in a company, ensuring accurate cost accounting.

Drilling Department

A division within a manufacturing or mining operation dedicated to the process of drilling, such as creating holes in the earth's surface or in materials.