From the course: Accounting for Non-Accountants
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Calculating and using trend analysis
From the course: Accounting for Non-Accountants
Calculating and using trend analysis
- I do a lot of hiking and backpacking. So living in Colorado is perfect for me. I started the Colorado Trail, which has 33 segments, and is nearly 500 miles in total length. I haven't finished it yet, but I sure hope to. When I'm hiking, I enjoy each and every moment. I get caught up in the segment that I'm in, the trees, the elevation gain, will there be a water source? Each mile has its own challenges. Running a business is very similar to a backpacking trip. Each day, season, project has its own challenges. When we get news of a competitive move, we have to pause and reflect on our next move. We try to stay focused on our vision and our goal, but we can be distracted by other elements around us, like the economy or a competitor. A trend analysis allows us to reflect with insights based on data for a longer period, usually five years. When performing a trend analysis, you have to decide what you want to measure. Don't…
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