Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

1. Introduction to Accounting

Useful Information

Financial Accounting

1. Introduction to Accounting

Useful Information

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Multiple Choice

Business analytics translates data into decisions to improve business performance through which of the following?

Random sampling and guesswork

Ignoring data trends

Descriptive, predictive, and prescriptive analysis

Manual record-keeping only

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Verified step by step guidance

Understand the concept of business analytics: Business analytics involves using data, statistical analysis, and predictive modeling to make informed decisions and improve business performance.

Learn the three types of analysis in business analytics: Descriptive analysis (summarizes historical data), predictive analysis (forecasts future outcomes based on historical data), and prescriptive analysis (provides recommendations for decision-making).

Evaluate the options provided in the question: Random sampling and guesswork, ignoring data trends, and manual record-keeping are not aligned with the principles of business analytics.

Recognize that the correct approach to improving business performance through business analytics is the use of descriptive, predictive, and prescriptive analysis.

Conclude that the correct answer is descriptive, predictive, and prescriptive analysis, as these methods are integral to translating data into actionable decisions.