Accounting Analytics Stream

Background

Q: What is Data Analytics?

A: Businesses are now surrounded by data. In this contemporary business world, companies need to know how to evaluate data with the purpose of drawing conclusions to address business problems. Through this process, being known as data analytics, companies utilises technologies, systems, statistics and databases to solve problems and create value.
Q: Why does analytics matter to accountants?

A: Accountancy practitioners are surfing the opportunities of digital change. Management is urging to use data to conduct financial forecasts and projections and assess business risks in order to make long-term business decisions1. Internal and external auditors also need to embrace technology which enhances the quality and accuracy of audit2.
Q: What do CEOs think about Data Analytics1 ?

Aims and Learning Outcomes

Q: Why are we offering the Accounting Analytics (AA) Stream?

A: Organisations are currently facing problems in translating a deluge of data into better decision making due to a shortage of skilled talent to handle data1. While it is crucial to have data scientists and programmers to help corporations move towards artificial intelligence, it is equally important to have a team of business specialists who are capable of understanding data analytics and building a robust system to manage data.

The AA Stream does not aim to train students to become data scientists who are responsible for the hard-core data analytics or machine learning. Instead, the AA Stream focusses on the development of an analytics mindset emphasising the skills, tools and hands-on practice with cases.
1 22nd Annual Global CEO Survey, conducted by PwC in late 2018, with over 1,300 CEO in more than 90 territories
2 Audit 2020: A Focus on Change, conducted by Forbes and KPMG

Curriculum

Required (6 units)
ACCT4242 Accounting Data Analytics for Business
ACCT4243 Data Visualization in Accounting (new course)

Elective (6 units, choose any two)
ACCT4213 Financial Statement Analysis and Valuation
ACCT4232 Forensic Accounting and Audit Analytics (new course)
DSME2021 Applied Econometrics for Business Decisions
DSME4020 Decision Modeling and Analytics
DSME4070 Business Data and Database Management
DSME4110 Economic Analytics
DSME4260 Business Processes Analytics

Students will declare the Accounting Analytics Stream at the last term of study when they are able to complete the coursework of the Stream.