Statistics and accounting are two cogs of the same wheel. Accountants are frequently required to call upon their statistical skills to perform audits. Without statistics, it’s easy for accountants to make errors since company records often consist of extremely large data sets.
Employers who hire accountants expect them to have a solid background in statistics since they are required to use data analysis for various reasons such as market research, corporate finance, and management analysis. Statistics also help accountants identify areas of investment where the company can reap the best returns, also called forecast consumption.
It’s customary for employers to ask accounting graduates if they know statistics since they’re required to make the biggest financial decisions for the company.