PYTHONPOWERWant to automate repetitive tasks, spend less timecrunching numbers or find data to support financialdecision making? Here is how Python programminglanguage can help.WORDS ADAM TURNERWhile learning a programming languagewas once the domain of IT specialists,today it starts in primary school. Thisis because programming unlocks thefull power of computers to perform difficult tasksand answer complex queries.Accountants already take advantage of tools likeExcel, but a simple programming language likePython can help accountants to streamline workflowsand improve data manipulation when deeper insightis needed.First released in the early 1990s, Python is ageneral-purpose programming language designedto be easy for non-technical people to learn, readand write. Its name is a nod to British comedylegends Monty Python, but it is a serious tool usedby people across a wide range of professions.BEYOND EXCELPython has greater flexibility than Excel, offeringmore efficiency, scalability and auditability. Pythonalso allows users to get more from Excel.Rival programming language R offers similarbenefits, but Python can be easier to learn.While R is better suited to creating visualisationsand statistical models, Python is a better fit foraccountants looking to work with large amountsof data and perform non-statistical tasks.38 INTHEBLACK Dec 2023/Jan 2024 SPECIAL EDITIONThe popularity of Python has amassed a strongglobal following. A wide range of free add-onsand tools for Python are available online, because itis an open source language. These can help users totackle different tasks, so they need not solve everyproblem from scratch.Employers are seeing the benefit in accountantsembracing Python. An analysis of finance andaccountancy job postings in 2016-2021 has revealedthat Python was among the technical skills that sawthe largest jump in demand, at 33 per cent.FINDING INSIGHT IN MESSY DATAIn accounting, Python’s key uses include automation,data cleansing and data analytics. This can savetime for accountants, while enhancing data-drivenbusiness insights and output accuracy, saysGhim Siong Ow, deputy head of data scienceat RSM Singapore.“In reality, data is often messy and time-consumingto process,” Ow says.“Python’s ability to read in vast datasets, in arange of formats from different sources, and tocleanse unstructured or incomplete data, freesup accountants to perform higher-value tasks.”“Python also allows accountants to automatetasks, especially those that are repetitive and involveclear logical steps. For example, when generating
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