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business
data analytics accounting

Questions and Answers of Data Analytics Accounting

Suppose we want to put the following data into the appropriate income statement format:Revenues 50000 Expenses Cost of Goods Sold 20000 Research and Development Expenses 10000 Selling, General, and
Write your fifth question and provide an answer based on your analysis.
Write your fourth question and provide an answer based on your analysis.
Write your third question and provide an answer based on your analysis.
Write your second question and provide an answer based on your analysis.
Write your first question and provide an answer based on your analysis.
What have you learned from completing the analyses in Question Sets 1, 2, and 3?
Brainstorm at least four other data items (e.g., economy, type of customer, etc.) that would be helpful in predicting the next year’s percentage of sales returned.
What are the drawbacks of using one year of data to forecast a future year?
Looking at your regression output, was the relationship between 2014 and 2015 percentage of sales returned significant? How can you tell?
What unforeseen factors could impact seasonality that managers would need to consider instead of solely relying on the results from their predictive analytics?
Does the R Square give you confidence that this is a strong predictive model?
What is the coefficient for 2014?
What is the R Square?
How does it help companies to rely on seasonality and past performance if those items exist in their data?
Click through each state and determine which state has the most variability in percentage of sales (do not consider “U,” which stands for undefined)?
Based on the line chart, does 2014 seem to be useful in predicting 2015’s percentage of sales returned?
Based on these line charts, does it seem more beneficial to predict percentage of sales returned on a state-bystate basis or in aggregate form?
Write your fifth question and provide an answer based on your analysis.
Write your fourth question and provide an answer based on your analysis.
Write your third question and provide an answer based on your analysis.
Write your second question and provide an answer based on your analysis.
Write your first question and provide an answer based on your analysis.
If there is at least one state that does not fit the pattern of having a higher average percentage of returned sales in January than the rest of the year, what would your next diagnostic analysis
Do you expect January to be the month with the highest average return of sales for online transactions? Why?
What is the average percentage of returned sales for Wyoming (WY) non-holiday transactions?
What is the average percentage of returned sales for Iowa (IA) holiday transactions?
What is the average percentage of returned sales for non-holiday online transactions?
Provide three insights about the percentage of returned sales that you can derive from the hypothesis test in Part 1 and/or the dashboards you created in Part 2.
What is the average percentage of returned sales for the non-holiday time period?
Microsoft Excel Only: Based on the p-values (or the tstatistic and critical values), are the returns as a percentage of sales in January significantly greater, less than, or the same as the returns
What would your recommendations be to Dillard’s regarding the differences in January returns and the rest of the year?
What additional data would be interesting to add to your diagnostic analysis about the percentage of returned sales?
If the difference is statistically significant, how would you display the results visually to Dillard’s?
Why does the statistical significance matter? Would your analysis and recommendations to Dillard’s be different if the difference is not statistically significant?
Write your fifth question and provide an answer based on your analysis.
Write your fourth question and provide an answer based on your analysis.
Write your third question and provide an answer based on your analysis.
Write your second question and provide an answer based on your analysis.
Write your first question and provide an answer based on your analysis.
Use the slicer (Excel) or the visualization filter(Tableau) to assess for seasonality in percentage of returned sales for online transactions versus in-person transactions. What changes do you
Why did this exercise have you assess average percentage of returned sales and not sum, which is the default aggregate in both Excel and Tableau?
What is the average percentage of returned sales for Oklahoma (OK)?
What is the average percentage of returned sales for inperson transactions?What is the average percentage of returned sales for online transactions?Which one has a higher average percentage of
Which month has the lowest average percentage of returned sales?
After executing these queries you can confirm whether your assumptions that you made in the thought questions were accurate. Which month has the highest average percentage of returned sales?
Do you expect percentage of returned sales to vary much across states? Why?
Do you think the trend over time of average percentage of returned sales for online transactions is similar to or different from the average percentage of returned sales for in-person transactions?
Which month do you expect average percentage of returned sales to be the highest? The lowest? Why?
Predict returned sales in future periods using predictive analytics.
Illustrate hypothesis testing using diagnostic analytics to compare and contrast sales returns around the holiday season.
Analyze returned sales to find explanatory (independent)variables using descriptive and exploratory analytics.
Write your fifth question and provide an answer based on your analysis.
Write your fourth question and provide an answer based on your analysis.
Write your third question and provide an answer based on your analysis.
Write your second question and provide an answer based on your analysis.
Write your first question and provide an answer based on your analysis.
While you still have your auditor hat on, what are some additional analyses you could perform to understand whether the purchase process is being followed or controls are functioning properly?
Why aren’t the other purchases suspicious?
How might an outlier be used to focus the auditors on high-risk transactions?
Looking at the missing orders visual, which of the invoices received warrants further investigation by the auditors?
Looking at the outliers visual, which supplier(s) had an abnormally high dollar amount of purchases?
What statistical tools can the company use to diagnose behavior that is outside of normal behavior?
What do you consider “abnormally high”? Are these suspicious?
Would management want these numbers to be higher or lower?
How about erroneous payments as a percentage of total payments?
In your opinion, what would be an appropriate benchmark for the average number of discount dollars lost as a percentage of available discount dollars?
Are there any KPIs that would be appropriate here?
What are some analyses you could perform that would provide insight into how efficiently your company is processing payments to suppliers?
What risks are present if you take too long to pay our accounts payable?
What is the current days payable outstanding KPI value? What does it mean?
Some of the accounts have a negative age. What does that mean?
What is the invoice amount of the first outstanding invoice for supplier Danbam?
How much did the company purchase from that supplier?
Which supplier did the company purchase the most from?
What is the age of the first outstanding invoice?
How much discount (in dollars) has the company forfeited from the top three suppliers?
What is the balance for accounts payable that would appear on the balance sheet?
What is the total amount of cash paid to suppliers for 2020?
Which quarter had the highest total purchases?
What are the total purchases for Q3?
Should the company adjust its policy to pay suppliers more quickly, in your opinion?
When might a large company prefer to forfeit discounts on its invoices?
Is it reasonable to have outstanding balances in Q3?Why or why not?
What would you expect to happen with outstanding balances in Q1 and Q2?
Why do you think there are still balances from the beginning of the year?
How many orders have been shipped but not yet invoiced?
Which orders were created after shipment?
How do you know some orders were created after shipment?
What types of controls would prevent the system from skipping a process or step?
Under what circumstances might a delivery take place before a sales order? Should this happen?
While you still have your auditor hat on, what are some additional analyses you could perform to understand whether the process or processes are being followed or controls are functioning properly?
Why aren’t the other shipped orders without an invoice suspicious?
Of the shipped orders without an invoice, which one is the most problematic? Why?
In your opinion, what would be an appropriate benchmark for the average number of days sales outstanding (i.e., Accounts receivable/Sales × 365)?Would management want this number higher or lower?
Write your fifth question and provide an answer based on your analysis.
Write your fourth question and provide an answer based on your analysis.
Write your third question and provide an answer based on your analysis.
Write your second question and provide an answer based on your analysis.
Write your first question and provide an answer based on your analysis.

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