What are the 3 basic tools for financial statement analysis? Explain each. What is the importance of data analysis in the accounting process? Please help me answer these questions

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 2TP: Why is it important to learn all of this terminology when accounting is a quantitative subject?
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What are the 3 basic tools for financial statement analysis? Explain each. What is the importance of data analysis in the accounting process? Please help me answer these questions 

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