Book Image

Managing Data Integrity for Finance

By : Jane Sarah Lat
Book Image

Managing Data Integrity for Finance

By: Jane Sarah Lat

Overview of this book

Data integrity management plays a critical role in the success and effectiveness of organizations trying to use financial and operational data to make business decisions. Unfortunately, there is a big gap between the analysis and management of finance data along with the proper implementation of complex data systems across various organizations. The first part of this book covers the important concepts for data quality and data integrity relevant to finance, data, and tech professionals. The second part then focuses on having you use several data tools and platforms to manage and resolve data integrity issues on financial data. The last part of this the book covers intermediate and advanced solutions, including managed cloud-based ledger databases, database locks, and artificial intelligence, to manage the integrity of financial data in systems and databases. After finishing this hands-on book, you will be able to solve various data integrity issues experienced by organizations globally.
Table of Contents (16 chapters)
1
Part 1: Foundational Concepts for Data Quality and Data Integrity for Finance
5
Part 2: Pragmatic Solutions to Manage Financial Data Quality and Data Integrity
10
Part 3: Modern Strategies to Manage the Data Integrity of Finance Systems

Interpreting financial reports

In Chapter 1, Recognizing the Importance of Data Integrity in Finance, we covered the most common types of financial statements: the balance sheet, income statement, and cash flow statement. In this section, we will build on these concepts and discuss how they are interpreted. I recommend going back to the basic concepts we discussed in that chapter to help familiarize yourselves with these topics further.

Financial statement analysis is a skill that business professionals and leaders need to equip themselves with. Understanding what these financial reports are and how to read them effectively will help you better understand what impacts a business’s key drivers and how to make better decisions based on the data.

Here are the types of analysis that can be done to further understand the financial reports that we will cover in this chapter:

  • Horizontal or trend analysis
  • Vertical analysis
  • Competitor and industry analysis
  • Cash...