Analysis Activities Essay Example | Topics and Well Written Essays - 500 words

Analysis Activities - Essay Example Each step is important in analysis to ensure the validity of data. Without qualitative data, analysis can be skewed. It is imperative to understand that data produces results that can be transferred in raw info. In any manner, each step should be carefully analyzed because it holds significance and raw weight to Qualitative measures. Standardization and normalization of data is truly essential for quality data. Standardization of each approach falls under best business practices. These practices allow the accumulation of best practices that are vital towards harnessing growth. This information and analysis leads to more conclusive evidence of the process itself. For instance, if the executing stage fails to fall under the scope, then it is evident for leadership to interfere and rectify that issue. Yes, it is clear that findings should be fully documented and audited for compliance. As a matter of fact, the art of auditing is one of the most pivotal elements in the field of accounting and dictates the criteria of embedding controls in an organization. The nature of auditing might seem trivial, but actually contains intricate details that an accountant must embrace. With these ever-growing challenges, the governing bodies that define auditing principles so have become stringent in their regulation. The IRS, SEC, and AICPA all have collaborated within each other to create standards that can serve as a backbone for an alignment of best business practices, which is why documentation becomes a necessity. Signoffs are essential for leadership to understand what is at stake. The executive management must make important decisions in revenue and sales that can impact bottom-line performance. For instance, many financial discrepancies can be a huge factor. Often times in a project, expectations are not met that are defined in scope and the WBS. Thus, creating contingency strategies is pivotal