A. Data analytics is the process of identifying, measuring, and communicating financial information about an economic entity to various user groups within the legal, economic, political, and social environment. This definition contains four major elements: Financial information; Economic entity; User groups; and Legal, economic, political, and social environment. In financial reporting, we can use data analytics to improve the quality of our annual reports. Auditors are using it to increase the quality and accuracy of the tax returns. Tax professionals are using it to provide more sophisticated audit planning documents.\ B. Data analytics is the process of analyzing large data sets in order to draw useful conclusions. It involves converting raw data into useful knowledge. Data analytics is playing an increasingly important role in the accounting profession. In financial reporting, we can use data analytics to improve the quality of our estimates and valuations. Auditors are using it to increase the quality and accuracy of the audit. Tax professionals are using it to provide more sophisticated tax planning advice.\ C. Data analytics is the process of small data sets in order to draw useful conclusions. It involves converting processed data into useful knowledge. Data analytics is playing an increasingly in inportant role in the accounting profession. In financial reporting, we can use data analytics to provide guidance to individuals and other entities in making investment and credit decisions. Investors use financial information to determine a company's ability to generate earnings and cash flow, as well as to make an assessment of the potential risks and returns of their investments.\ D. Data analytics is a multidisciplinary field focused on finding actionable insights from large sets of raw and structured data. The field primarily fixates on unearthing answers to the things we don't know. In financial reporting, experts use several different techniques to obtain answers, incorporating computer science, predictive analytics, statistics, and machine learning to parse through massive datasets in an effort to establish solutions to problems that haven't been thought of yet. These solutions significantly impact the financial statements.\ Ask my instructor

and how it can be used in financial reporting. OA. Data analytics is the process of identifying, measuring, and communicating financial information about an economic entity to various user groups within the legal, economic, political, and social environment. This definition contains four major elements: Financial information; Economic entity; User groups; and Legal, economic, political, and social environment. In financial reporting, we can use data analytics to improve the quality of our annual reports. Auditors are using it to increase the quality and accuracy of the tax returns. Tax professionals are using it to provide more sophisticated audit planning documents. OB. Data analytics is the process of analyzing large data sets in order to draw useful conclusions. It involves converting raw data into useful knowledge. Data analytics is playing an increasingly important role in the accounting profession. In financial reporting, we can use data analytics to improve the quality of our estimates and valuations. Auditors are using it to increase the quality and accuracy of the audit. Tax professionals are using it to provide more sophisticated tax planning advice. OC. Data analytics is the process of small data sets in order to draw useful conclusions. It involves converting processed data into useful knowledge. Data analytics is playing an increasingly important role in the accounting profession. In financial reporting, we can use data analytics to provide guidance to individuals and other entities in making investment and credit decisions. Investors use financial information to determine a company's ability to generate earnings and cash flow, as well as to make an assessment of the potential risks and returns of their investments. OD. Data analytics is a multidisciplinary field focused on finding actionable insights from large sets of raw and structured data. The field primarily fixates on unearthing answers to the things we don't know. In financial reporting, experts use several different techniques to obtain answers, incorporating computer science, predictive analytics, statistics, and machine learning to parse through massive datasets in an effort to establish solutions to problems that haven't been thought of yet. These solutions significantly impact the financial statements. Ask my instructor Clear all