Question

Charts are flexible visual aids and an invaluable resource in Excel. While accountants use them to illustrate key data such as financial statement analysis, they have many other accounting-related uses. Identify and discuss at least three (3) ways accountants could use charts with a focus on providing benefit to the reader. Justify your response.

Answer 1

Yes, Charts in excel helps in visualisation of data it interpret the data, composition of data, data population and trends in data. Classification and categorization of data.

Accountant with the help of different chart type can interpret the data as follows:

- WIth the use of histogram Accountant can show the difference between Actual and Target Sale, it helps to determine the when target sale is acheived trhough actual sale .

- Second through bullet chart it shows the single target by using qualitative and quantitative data. It is represented in single bar only, where quality is defined against each range of data acheived.

- Funnel chart helps to elaborate the purchase process or a process being held at a level within the organisation. as a name suggest it will appear as funnel in shape where requisition is taking more time, then next process is supposed o be take less time but if next process is taking more time, then accountant need to check the flaws with in the process at such level where funnel posyition got struck.