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Mind Map of Problem Solving with Excel

Data and analytics have played a critical role by helping organizations to make better and faster decisions. Using data and analytics is not limited to only high-technology industries, but whatever industry you operate in, data and analytics can and will add value to organizations. Nowadays, data and analytics are impacting business by enabling new products and services, disrupting existing markets and increasing efficiency. Hence, solving problems using an analytical approach makes a professional to be outstanding among others today. Also, there is increasing demand for people who can understand business problems, known as domain knowledge and then apply analytics to help the organization. There are many complex data and analytics tools available for solving business problems . However, Excel is still the most popular tool because of its ease to use and versatility. Let it be validating data, cleansing data, building mathematical or statistical models or more advanced dashboards
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Mind Map of Ratio Analysis and Forecasting

 What is the value of financial information and financial analysis? The goal of financial analysis is to evaluate the degree to which a company ’ s financial information captures its underlying business reality. In other words, financial analyses use to assess the performance of a company in the context of goals and strategy. Financial analysis is a valuable activity. It is not only determines the competitive advantage of a company, but also identifies red flags or potential fraud of financial statement. However, the results from analysis only let us draw conclusions about how a company has developed thus far. The figures and ratios that we obtain do give us an overview, but figures are not everything. Financial data and non-financial data need to be interacted to forecast events, optimise operations and determine strategy . Therefore, a company's strategy and business model need to be known first in order to interpret the financial ratios and then uses the financial ratios an
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Auditing, Fraud Examination and Forensic Accounting

With so many chan ges on companies’ operations, proc esses, and controls make audit environment much more different than it was in the days before COVID-19 pandemic. In the current environment, fraud risk may be heightened for fraudulent financial reporting.  In general terms, fraud is an intentional act by one or more individuals involving the use of deception to obtain an unjust or illegal advantage. Auditing is a term many are familiar with.  Auditing includes process to plan the audit, conduct risk assessment, identify and test internal controls and then collect sufficient and appropriate audit evidence and finally report on the findings of the audit. During the audit process, a uditing of financial statements may detect symptoms of fraud. However, auditors have no responsibility to plan and perform audit procedures to detect immaterial misstatements including those caused by error and fraud.  Allegations of fraud that are often being resolved through court action suggest the
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Mind Map of Forensic Accounting and Fraud Examination (FAFE)

Imagine that you work in the accounts and finance department for your company and one of your directors is using company money for his personal expenses which claim as business expenses. Now answer these questions: What would you do? Should you report it to anyone? Who could you trust? Is this fraud? If you don't report it, are you complicit in fraud? Everyday, many businesses are victimised by fraud around the world.  Frauds can be categorised by a number of different methods, but they are usually referred to as either internal or external frauds. It also can take many shapes and can impact an organisation in many ways – not just financially. We should know how and where a company may be vulnerable and take the proper steps and controls to protect against vulnerabilities.  Forensic accounting and fraud examination (FAFE) provide tools and techniques for preventing, deterring, detecting, investigating and remediating bad acts grounded in financial gain. It determines the  who, what
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Welcome to The Words of Linda

Hi, everyone. Welcome to "The Words of Linda". I am Linda here, owner of this blog. I'm delighted to share with you about what's coming up in this blog. The whole idea of the blog is going to be a platform for me to record and keep the knowledge and skills that I think that is useful in my life and in workplace.  In this century, it's not about "what you know" that matters, it's how you use "what you know". Hence, instead of keeping it to myself, I would like to share with you the knowledge and skills here. Everyone of us has our own unique set of skills, knowledge and experience. And we know that, knowledge sharing helps deepen our knowledge and ingrains what we know. Therefore, I will be really thankful if you could share with me your thoughts after your reading. So, let's wrap up this intro with quotes below: "Gaining knowledge is the first step to wisdom. Sharing it is the first step to humanity." "Knowledge increases
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