ALL ABOUT ACCOUNTING:- 3rd BLOG

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     A        *****ACCOUNTING*****

Hi freinds.,
              Today discuss 2nd fields in accounting.
  *Analysis and forecasting :-
         1.  Analysis:- the examination of the different parts or details of something.
               Analysis is the process of breaking a complex topic or substance into smaller parts in order to gain a better understanding of it. The technique has been applied in the study of mathematics and logic since before Aristotle (384–322 B.C.), though analysis as a formal concept is a relatively recent development.
      *Purpose of analysis :- 
                       A systematic examination and evaluation of data or information, by breaking it into its component parts to uncover their interrelationships. ... An examination of data and facts to uncover and understand cause-effect relationships, thus providing basis for problem solving and decision making.
     * Types of analysis :-
                          There are many types of data analysis. Some of them are more basic in nature, such as descriptive, exploratory, inferential, predictive, and causal. Some, however, are more specific, such as qualitative analysis, which looks for things like patterns and colors, and quantitative analysis, which focuses on numbers.
     * Analysis in writing:-.      
                  Organizing and Drafting Your Analysis. Write a brief thesis statement or topic sentence. Most analyses begin with a brief summary of the main points that the analysis will make. Writing your thesis first will help you stay focused as you plan out and draft the rest of your analysis.    
       
 






    

                                                                             
        2. Forecasting:-.       
                     Forecasting is a technique that uses historical data as inputs to make informed estimates that are predictive in determining the direction of future trends. Businesses utilize forecasting to determine how to allocate their budgets or plan for anticipated expenses for an upcoming period of time.       
              * Forecasting is an business :-
                          Business forecasting is a method to predict the future, where the future is narrowly defined by economic conditions. ... Its use is critical for businesses whenever the future is uncertain. The more they can focus on the probable outcome, the more success the organization has as it moves forward.
              * Purpose of forecasting:-
                          The Purpose and Need for Forecasting. Forecasting is an approach to determine what the future holds. It is an estimate of what the future will look like that every function within an organization needs in order to build their current plans. ... Decisions that are made by organizations today will affect future outcomes.
               * Importance of forecasting:-
                         Forecasting plays an important role in various fields of the concern. As in the case of production planning, management has to decide what to produce and with what resources. Thus forecasting is considered as the indispensable component of business, because it helps management to take correct decisions.
                 * Types of forecasting:-
                            There are four main types of forecasting methods that financial analysts. Perform financial forecasting, reporting, and operational metrics tracking, analyze financial data, create financial models use to predict future revenues.
        









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 So remaining three fields clear in 4th blog..
                    So wait my 4th blog....   

                                                                                
      By some helpful accounting analysis books:-
           https://www.amazon.in/gp/search/ref=as_li_qf_sp_sr_il_tl?ie=UTF8&tag=mayurthakare-21&keywords=Accounting analysis&index=aps&camp=3638&creative=24630&linkCode=xm2&linkId=9a5c97c59936ad42be9f5a06b469e404

       By some halpful accounting forecasting books:- 
            https://www.amazon.in/gp/search/ref=as_li_qf_sp_sr_il_tl?ie=UTF8&tag=mayurthakare-21&keywords=Accounting forecasting&index=aps&camp=3638&creative=24630&linkCode=xm2&linkId=2b88cfd31e6e88ea27a0e1a6091b0068

      By some calculator helpful for your business:- 
             https://www.amazon.in/gp/search/ref=as_li_qf_sp_sr_il_tl?ie=UTF8&tag=mayurthakare-21&keywords=tax calculator&index=aps&camp=3638&creative=24630&linkCode=xm2&linkId=15cb6cbc2e7643b9134221c63fb9da91








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