The importance of statistical analysis in accounting research

Abstract

In recent years, the use of statistical analysis in academia and enterprises has been developing. Generally, students, professors, workers, and users are usually exposed to statistical analysis at some point. Sometimes, it is difficult to perform this type of analysis. Few people have theoretical knowledge to understand statistical analysis clearly, sometimes even the results given. Often, academic institutions or companies require users to provide reports but do not have time to explore or understand the results or tasks required for optimal data preparation. The statistical methods involved in conducting a study include planning, designing, collecting data, analyzing, deriving meaningful explanations and reporting the study results. The statistical analysis gives meaning to meaningless numbers, thus making life lifeless. Only by using appropriate statistical tests can the results and inferences be accurate. In this work, we provide a statistical overview of some accounting research conducted in various countries to reveal the importance of statistical analysis in completing accounting and finance research.