Analyzing data to determine best and worst-case scenarios

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1. Accountants are counted on to provide management with analyzing data to determine best and worst-case scenarios. As future planning becomes more complex, these what-if analyses can increase in complexity and usefulness. Identify and discuss at least three types of what-if analyses that an accountant should be able to perform to measure a firm's performance over a period. Be sure to include the type of data that will be needed to support this analysis.

2. We know that tables can be used to make data easy to understand and analyze. Identify and discuss at least three types of accounting data that is better presented in a table for analysis and discuss what analysis could be performed. Justify your response.

3. Logical functions, such as the IF and IFS functions, provide accountants with a lot of power to ensure that accurate and correct data is processed in Excel. Identify and discuss at least three types of accounting worksheets that will benefit from using logical functions like the IF function. Explain why these worksheets would benefit from the use of logical functions. Justify your response.

4. Charts are flexible visual aids and an invaluable resource in Excel. While accountants use them to illustrate key data such as financial statement analysis, they have many other accounting-related uses. Identify and discuss at least three ways accountants could use charts with a focus on providing benefit to the reader. Justify your response.

Reference no: EM132900865

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