In the ever-evolving landscape of accounting, traditional methods of financial analysis are being augmented and, in some cases, replaced by cutting-edge technologies and techniques. Accounting data analytics is at the forefront of this transformation, offering a powerful set of tools and methodologies that enable professionals to extract valuable insights from vast troves of financial data. Making a career in this demanding field will help you stand out in the crowd.
Importance of Accounting Data Analysis
By scrutinizing vast volumes of financial data, accounting data analysis helps identify trends, anomalies, and opportunities that might otherwise remain hidden. This information enables informed decision-making, risk management, and strategic planning. Furthermore, it enhances transparency and accountability, as stakeholders can rely on data-driven evidence for evaluating a company’s financial integrity. A 2020 survey by software vendor Sage found that 44% of accounting firms were using advanced and predictive analytics that leverage big data, or planned to do so in the next 12 months.
As an analyst or developer, if you are curious about this highly in-demand technology and looking for the Best Accounting Data Analysis Courses to teach yourself, then you have come to the right place.
Table of Content
- 1 Best Analytics Courses, Certification, Tutorials, Training, Classes Online
- 1.1 Introduction to Accounting Data Analytics and Visualization [Coursera]
- 1.2 Graduate Certificate in Accounting Data Analytics [Coursera]
- 1.3 Accounting Data Analytics Specialization [Coursera]
- 1.4 Accounting Data Analytics with Python [Coursera]
- 1.5 The Hong Kong Polytechnic University: Data Analytics in Accounting and Finance [edX]
- 2 FAQ
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Best Analytics Courses, Certification, Tutorials, Training, Classes Online
- Best for Beginner Introduction to Accounting Data Analytics and Visualization [Coursera]
- Best for Professional Graduate Certificate in Accounting Data Analytics [Coursera]
- Best for Intermediate Accounting Data Analytics Specialization [Coursera]
- Best for Python Accounting Data Analytics with Python [Coursera]
Introduction to Accounting Data Analytics and Visualization [Coursera]
This visualization and accounting data analytics course online is an introductory-level course focusing on building foundational skills in data analysis, data visualization, accounting, and statistical methods. The course explores the historical connection between accounting and analytical thinking and introduces learners to tools like Excel and Tableau for data analysis and visualization.
Course Instructor
This accounting data analytics class is instructed by Ronald Guymon. Affiliated with the University of Illinois at Urbana-Champaign, Ronald brings extensive expertise in the fields of accounting, data analytics, and financial analysis to guide learners through this course.
What you’ll learn
This course includes 9 modules which are divided into:
- Introduction to Accountancy Analytics: This initial module serves as the course’s introduction, offering students a comprehensive orientation to the learning environment, instructors, and peers.
- Accounting Analysis and an Analytics Mindset: The second module, students dive into the significance of empirical inquiry within decision-making processes.
- Data and its Properties: This module delves into the specific characteristics of data that render it valuable for effective decision-making.
- Data Visualization 1: In this module, students dive into the fundamental principles that underlie data visualizations.
- Data Visualization 2: This module introduces students to the powerful world of Tableau.
- Analytic Tools in Excel 1: In the first part of the analytic tools series, students embark on a mini-case study that revolves around the FACT model, with a particular focus on the ‘C’ – calculations.
- Analytic Tools in Excel 2: This module builds upon the previous section’s foundation by introducing advanced concepts in regression analysis.
- Automation in Excel: The final module, focuses on automation in Excel. Students learn practical tasks, such as combining dataframes, creating histograms, and performing k-means clustering.
Pros & Cons
Pros
- Comprehensive Learning
- Historical Context
- Focus on Communication
- Hands-On Projects
Cons
- Limited Focus on Advanced Tools
- Lack of Interactivity
Key Highlights & Learning Objectives
- Learners will gain a solid foundational understanding of key concepts, including data analysis, data visualization, accounting principles, and statistical methods.
- Explore the historical connection between accounting and analytical thinking, understanding how data analysis has always been integral to the accounting profession.
- Delve into practical tools such as Excel and Tableau, learning how to use them effectively for data analysis and visualization in the context of accounting.
- With a flexible schedule, learners can study at their own pace, accommodating various commitments and ensuring a comfortable learning experience.
- The course comprises 20 video lectures, numerous articles and supplementary resources, 20 quizzes, 8 assessments, and provides a certificate of completion.
Who is it for?
This online accounting data analytics course is best suited for individuals who are seeking to embark on a journey into the world of data analytics and visualization within the context of accounting. It is particularly well-suited for beginners with little to no prior experience in these fields, providing a solid foundation for those looking to enhance their skills and knowledge.
Rating: 4.8/5
Students Enrolled: 55,902
Duration: 20 hours
Graduate Certificate in Accounting Data Analytics [Coursera]
The Coursera Graduate Certificate in Accounting Data Analytics certification offers a comprehensive and highly practical education in the field of accounting data analytics. Over the course, you’ll delve into essential topics such as data preparation, machine learning, predictive analytics, and business data modeling.
Course Instructor
The accounting data analytics certification is taught by a distinguished team of instructors including Ron Guymon, Jessen Hobson, Doug Laney, Linden Lu, Unnati Narang, and Frank Nekrasz, each bringing extensive expertise to the field of accounting and data analytics.
What you’ll learn
This certification includes the following courses:
- ACCY 569 – Data Driven Decisions in Accounting: In ACCY 569, students delve into the world of data-driven decisions in accounting.
- ACCY 576 – Data Preparation for Accounting: ACCY 576 is all about building a strong foundation in data preparation, particularly in the realm of accounting.
- ACCY 577 – Machine Learning for Accounting: Machine learning takes center stage in ACCY 577. This course introduces students to a range of machine learning algorithms and their applications in solving accounting problems.
- ACCY 578 – Accounting Analytics Applications: In ACCY 578, students dive into the practical realm of accounting analytics applications. This course provides in-depth knowledge regarding the roles, methods, and implications of business and data analytics in accounting.
- MBA 563 – Data Toolkit: Business Data Modeling & Predictive Analytics: MBA 563 broadens the scope beyond accounting and focuses on data analysis in the broader business context.
- MBA 564 – Data Analytics Applications in Business: Building on the foundation laid by previous courses, MBA 564 extends the application of data analytics to various business areas, including marketing, finance, supply chain, and accounting.
- MBA 565 – Infonomics: The final course, MBA 565, takes a unique perspective on information as a corporate asset.
Pros & Cons
Pros
- Career Advancement
- Stackable Credits
- CPA Qualification
Cons
- Time Commitment
Key Highlights & Learning Objectives
- In today’s business landscape, data-driven decision-making is crucial. This program equips students with the skills needed to excel in roles that require data analysis, including auditing, finance management, business analysis, and tax advisory.
- Graduates of this program are well-prepared to address the evolving challenges in their current roles and unlock new career opportunities. The skills learned here are highly marketable and in demand.
- This course includes over 30 video lectures, more than 50 articles, a diverse set of supplementary resources, 10 quizzes, and a certificate of completion upon completion.
Who is it for?
This accounting data analytics certification course is tailored for accounting professionals aiming to maintain a competitive edge in the modern data-centric business landscape. In essence, this program accommodates a wide range of learners, enabling them to thrive in their professional journeys by leveraging the capabilities of data analytics within the realms of accounting and business.
Rating: 4.9/5
Duration: 6-10 months
Accounting Data Analytics Specialization [Coursera]
Designed for accounting professionals, this online accounting data analytics course is a thorough program aimed at arming participants with state-of-the-art data analytics abilities. Emphasizing Python programming, statistical analysis, and the utilization of data visualization tools, learners gain practical, hands-on experience in harnessing data for informed decision-making.
Course Instructor
The authors of this online accounting data analytics classes, Linden Lu and Ronald Guymon, are esteemed educators from the University of Illinois at Urbana-Champaign. With extensive expertise in data analytics, they bring a wealth of knowledge to this program, guiding learners through the intricate world of accounting and data analysis.
What You’ll learn
Here’s an overview of the four courses included in the Accounting Data Analytics Specialization:
- Introduction to Accounting Data Analytics and Visualization: In this foundational course, students bridge the historical connection between accounting and analytics. It explores how analytical thinking has always been intrinsic to accounting and how it has evolved in the era of big data analytics.
- Accounting Data Analytics with Python: This course delves into the world of Python programming for data analytics.
- Machine Learning for Accounting with Python: This course introduces various machine learning algorithms, demonstrates how to apply them using Python in Jupyter Notebook, and emphasizes model evaluation and optimization.
- Data Analytics in Accounting Capstone: This capstone course is the culmination of the specialization, where students apply their acquired knowledge and skills to a real-world problem.
Pros & Cons
Pros
- University Recognition
- Practical Application
- Capstone Project
Cons
- Time Commitment
Key Highlights & Learning Objectives
- The specialization comprises four meticulously designed courses that cover a wide range of data analytics skills essential for accountants, including data preparation, visualization, analysis, and machine learning.
- The program places a strong emphasis on Python programming, enabling learners to leverage this versatile language for data analysis and machine learning.
- The capstone project offers a practical opportunity to tackle a real-world problem, demonstrating the practical application of data analytics skills in accounting.
- This comprehensive Accounting Data Analytics Specialization includes over 100 instructional videos, numerous supplementary articles and resources, and a certificate of completion.
Who is it for?
This accounting data analytics course online is ideal for financial experts aiming to harness the power of data analytics to gain deeper insights into financial transactions, trends, and forecasts. Additionally, business analysts and finance students can greatly benefit from this program, enhancing their career prospects by acquiring practical data analysis and machine learning skills tailored to the accounting domain.
Rating: 4.6/5
Students Enrolled: 38,363
Duration: 4 months at 10 hr/week
Accounting Data Analytics with Python [Coursera]
This accounting data analytics online course, provides a comprehensive introduction to leveraging Python for data analytics in the accounting field. With a focus on practical applications, the course covers essential skills, including descriptive statistics, data visualization, and regression analysis.
Course Instructor
This online accounting data analytics class is instructed by Ronald Guymon and Linden Lu, both esteemed faculty members at the University of Illinois at Urbana-Champaign, bringing their extensive expertise to guide learners through the world of Accounting Data Analytics with Python.
Pros & Cons
Pros
- Python Proficiency
- No Previous Experience Required
Cons
- May Not Cover Advanced Topics
Key Highlights & Learning Objectives
- This course equips learners with essential Python programming skills, making it accessible to individuals with no prior coding experience.
- Students will become proficient in using Pandas dataframes and NumPy for data manipulation and analysis.
- Gain insights into working with relational databases using Python, a valuable skill in the accounting field.
- The skills acquired in this course are highly relevant in the data-driven landscape of accounting and finance.
- This course includes a total of 104 resources, consisting of 104 videos, 19 readings, 5 quizzes, and upon successful completion, you can earn a shareable career certificate.
Who is it for?
This accounting data analytics course with certification is best suited for individuals who are looking to bridge the gap between accounting and data analytics, making it an ideal choice for accounting professionals, finance experts, or students in these fields, with limited programming experience, offering a solid introduction to Python and data analytics concepts.
Rating: 4.3/5
Students Enrolled: 41,382
Duration: 42 hours
The Hong Kong Polytechnic University: Data Analytics in Accounting and Finance [edX]
The edX Data Analytics in Accounting and Finance course is a comprehensive exploration of the data analytics process applied specifically to the realms of accounting and finance. In a world increasingly driven by data, this self-paced course equips learners with the essential skills and mindset needed for data-driven decision-making in these fields.
Course Instructor
This accounting data analytics training instructors include Jingran Zhao, an Assistant Professor at The Hong Kong Polytechnic University, Jeffrey Ng, a Professor who also played a role in course development, and Yangyang Fan, an Assistant Professor at the same institution, collectively bringing a wealth of expertise in data analytics, finance, and accounting to this educational offering.
Pros & Cons
Pros
- Practical Application
- Structured Framework
- No Prerequisites
Cons
- Lack of Personalized Feedback
Key Highlights & Learning Objectives
- The course takes an interdisciplinary approach, bridging the worlds of data analytics, finance, and accounting to provide a holistic understanding of how data can drive decisions in these fields.
- Participants gain hands-on experience using popular tools like Excel and Tableau to apply data science and analytics to real accounting and finance datasets.
- The course introduces a structured framework (QDAR) that helps learners ask the right questions, understand data types, conduct analyses, and effectively communicate results.
- This course includes a series of video lectures, supplementary articles and resources, interactive assignments and quizzes, and a certificate of completion upon successful completion.
Who is it for?
This accounting data analytics course with certificate is best suited for professionals and individuals alike in accounting and finance who want to enhance their data analytics skills. With no required prerequisites, this course offers a practical, hands-on approach for individuals interested in mastering the art of data analytics within the context of accounting and finance.
Rating: 4.7/5
Students Enrolled: 24,682
Duration: 3 months, 12 hours/week
FAQ
What is data analytics in accounting?
Data analytics in accounting is a process that involves the systematic analysis of financial data to extract meaningful insights, patterns, and trends. It utilizes various techniques and tools to examine large datasets, uncover relevant information, and make data-driven decisions in the field of accounting.
Does accounting require data analytics?
No, traditional accounting doesn’t require data analytics, but it greatly enhances efficiency, accuracy, fraud detection, compliance, and strategic decision-making in the field. It’s increasingly valuable in modern accounting practices.
What is an example of accounting analytics?
An example of accounting analytics might involve analyzing a company’s sales data over the past year. By using data analytics tools, accountants can identify which products or services generated the most revenue, the peak sales periods, and any factors that influenced sales fluctuations. This information can inform pricing strategies, inventory management, and sales forecasting.
How is data analytics used in financial accounting?
Data analytics plays a crucial role in financial accounting by helping organizations make informed decisions, improve financial reporting, and enhance overall financial management. Here are some ways data analytics is used in financial accounting:
Financial Reporting and Analysis: Data analytics tools can process and analyze large volumes of financial data to produce financial statements, including income statements, balance sheets, and cash flow statements.
It helps identify trends, anomalies, and variances in financial data, enabling businesses to make better-informed decisions.
Auditing and Compliance: Data analytics can be used to automate audit processes, making them more efficient and accurate. It helps auditors identify high-risk areas for further examination.
Ensures compliance with regulatory standards and accounting principles, reducing the likelihood of errors or fraud.
Predictive Modeling: Financial analysts use predictive analytics to forecast future financial performance based on historical data and various economic indicators.
This aids in budgeting, financial planning, and investment decisions.
Fraud Detection: Data analytics can be employed to detect and prevent financial fraud by identifying unusual or suspicious patterns in transactions.
It can be particularly useful in identifying unauthorized transactions, embezzlement, or other fraudulent activities.
Cost Analysis and Cost Reduction: Data analytics can help analyze cost structures and identify areas where cost reductions can be made.
It helps in optimizing expenses and improving profitability.
Risk Management: By analyzing data on various financial instruments and portfolios, data analytics can help assess and mitigate risks associated with investments.
It can also be used to monitor credit risk and manage exposure to financial derivatives.
Performance Measurement: Data analytics tools can assess the performance of various financial assets, projects, or business units.
Key performance indicators (KPIs) and metrics are used to evaluate the effectiveness of financial strategies and investments.
Customer Segmentation: Financial institutions use data analytics to segment their customers based on their financial behavior and needs.
This helps in targeting specific customer groups with tailored financial products and services.
Tax Planning: Data analytics can help businesses optimize their tax strategies by analyzing tax codes, deductions, and exemptions.
It ensures compliance with tax regulations while minimizing tax liabilities.
Portfolio Management: In investment and asset management, data analytics is used to optimize investment portfolios, identify attractive opportunities, and rebalance portfolios to achieve financial goals.
Cash Flow Management: Data analytics helps in forecasting cash flows, optimizing cash management, and ensuring sufficient liquidity to meet financial obligations.
In summary, data analytics in financial accounting enhances decision-making, improves financial reporting, ensures compliance, and aids in risk management and fraud detection. It enables businesses to better understand their financial performance, reduce costs, and make informed financial decisions.
