ACT_580_Critical_Thinking_Module_6

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Colorado State University, Global Campus *

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Business

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Jun 19, 2024

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1 Module 6 Critical Thinking Erin Mazzola Colorado State University Global ACT580: Accounting Capstone Dr. Wendy Achilles May 26, 2024

2 Analytics Mindset – TechWear TechWear is a startup firm that makes high-end, technologically advanced sportswear (CSU, 2024). It's interesting to note that this apparel is highly technologically advanced, with RFID chips incorporated in the items enabling GPS monitoring capabilities. It is possible to track the user's heart rate, sweat rate, calories burnt, and exercise efficiency. This project's goal is to evaluate the risk of cash sales relative to accounts receivable. TechWear supplies big distribution facilities with their goods. The critical thinking submission now contains an Excel document with information about the data and results that have been completed and submitted. Part I Questions Data on sales and cash received is included in TechWear's Excel spreadsheet. To complete the case study, this paper must respond to three questions from Part One. They are listed in the following order: 1. Verify the balance of the accounts receivable in the amount of $684,491.19 2. Validate the information for the 15 approved customers 3. Verify that the 230 sales that were transacted during 2015 are accurate without duplicates or additional invoices (CSU, 2024). According to TechWear's statistics, the company was operational from March 5, 2015, till December 31, 2015. In the Excel spreadsheet, an extraction, transformation, and load (ETL) are employed for analysis. By balancing the accounts receivable balance, the spreadsheet data examination reveals that the proper amount of $684,491.19 exists. The 15 clients are accurately mentioned, although

3 one business (ValueChoice) has changed its spelling. With properly numbered ranges and no duplicates, 230 sales were completed. The information has been ready for examination to address the Part II queries that the TechWear spreadsheet provides answers for. Conclusion To evaluate the risk associated with TechWear's order-to-cash function, accounts receivable was segregated. After confirming there were no duplicate clients, the consumers were sorted. In Excel, duplicates may be eliminated. To evaluate the risk and provide a profile for analysis, patterns, and trends are identified. Since analytics is the foundation of all business decisions, this is significant. Current payments are visible, and Part II's aging of receivables might reveal which businesses provide a higher payment risk. It is now possible to assess the client base and accounts receivable. Although cash payments are preferred, the sector must deal with accounts receivable. For further information, please see the attached Excel file.

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4 References CSU-Global. (2022). Module 6: Critical Thinking. Retrieved from CSU Global: https://csuglobal.instructure.com/courses/89967/assignments/1781882

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