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business
data analytics accounting

Questions and Answers of Data Analytics Accounting

(LO 4-5) (This problem requires Excel for PC). Replicate the steps taken in the chapter regarding obtaining data from the Web through Excel, and access Amazon’s balance sheet from the Reuter’s
(LO 4-2, 4-3) Use the ER-diagram to answer the following questions:a. Identify the primary key in each table.b. Identify the foreign keys that build the relationship between the tables.c. Relying on
(LO 4-3) Use the same ER diagram from Problem 2 to create a data dictionary. Use the following template (for some of the fields, you can just make your best guess): Table Attribute Name Primary or
(LO 5-5) Which type of question does predictive analytics address?a. What happened?b. What should we do based on what we expect will happen?c. Why did it happen?d. Will it happen in the future?
(LO 5-4) Which type of question does diagnostic analytics address?a. What happened?b. What should we do based on what we expect will happen?c. Why did it happen?d. Will it happen in the future?
(LO 5-2, LO 5-3) What type of analytics addresses questions of “What happened?”?a. Descriptive analyticsb. Diagnostic analyticsc. Predictive analyticsd. Prescriptive analytics
(LO 5-2) What type of analytics would address the question of whether a company will go bankrupt?a. Descriptive analyticsb. Diagnostic analyticsc. Predictive analyticsd. Prescriptive analytics
(LO 5-2) If we wanted to know what level of sales would be needed to break even given the current economic environment, we would call that analytics.a. Descriptiveb. Diagnosticc.
(LO 5-2, LO 5-3) What type of analytics would primarily summarize facts and compute sums, averages, counts, etc.?a. Descriptive analyticsb. Diagnostic analyticsc. Predictive analyticsd. Prescriptive
(LO 5-2, LO 5-6) What type of analytics would primarily use what-if analysis, scenario manager, and goal seek analysis?a. Descriptive analyticsb. Diagnostic analyticsc. Predictive analyticsd.
(LO 5-2, LO 5-4) What type of analytics would include Benford’s law to assess whether fraud had occurred?a. Descriptive analyticsb. Diagnostic analyticsc. Predictive analyticsd. Prescriptive
(LO 5-2, LO 5-5) What kind of analytics is generally used to forecast future sales, earnings, and cash flows from operating activities?a. Time seriesb. Classificationc. Regressiond. Benford’s law
(LO 5-5) What kind of analytics is generally used to predict whether a company’s financial statements are fraudulent?a. Time seriesb. Classificationc. Regressiond. Horizontal analytics
(LO 5-2, LO5-6) Which tool is generally associated with prescriptive analytics?a. What-if scenariob. Fuzzy matchingc. Pivot tablesd. Means, modes, medians, and counts
(LO 5-7) Which statistic tells us how many standard deviations (σ), a data point (or observation), xi, is from its population mean, µ?a. z-scoreb. normal distributionc. uniform distributiond.
(LO 5-7) Which distribution is a probability distribution where all outcomes are equally likely?a. Normal distributionb. Poisson distributionc. Level distributiond. Uniform distribution
(LO 5-7) If p-value ≤ alpha threshold, you shoulda. reject the null hypothesis (i.e. significant result).b. fail to reject the null hypothesis (i.e. not significant result).
(LO 5-7) If we run a regression where y (college completion rate) = f (factors potentially predicting college completion rate), what is the dependent variable?a. Factors potentially predicting
(LO 5-7) A t-test has more power than a t-test.a. one-tailed; two-tailedb. two-tailed; two-tailed
(LO 5-7) If the critical value for a one-tailed t-test at the α = 0.05 level is 1.645, the t-statistic needed to reject the null hypothesis of no difference would be a. greater
(LO 5-2) How does each question a decision maker might make require a different level, or type, of analytics, be it descriptive, diagnostic, predictive, or prescriptive?
(LO 5-2, LO 5-3, LO 5-6) Describe the differences between descriptive and prescriptive analytics.
(LO 5-2) Why is understanding what happened (descriptive analytics) often considered to be a prerequisite to understanding why something happened (diagnostic analytics)?
(LO 5-2, LO 5-3) Which type of analytics answers the question of how much state taxes the company paid during the previous year?
(LO 5-2, LO 5-3) Which type of analytics emphasizes totals, sums, averages, and sum totals? Defend your choice.
(LO 5-2, LO 5-5) Which type of analytics would forecast future earnings or sales? Defend your choice.
(LO 5-2, LO 5-6) Which type of analytics would optimize firm analytics based on expected changes in tax law? Defend your choice.
(LO 5-2, LO 5-4) Which type of analytics would look for violations of internal company policies? Defend your choice.
(LO 5-7) We are interested in investigating whether holiday sales returns at Target are different than nonholiday sales returns at Target. How would you describe the null and the alternate hypotheses
(LO 5-2, LO 5-3, LO 5-4, LO 5-5, LO 5-6) Select the analytics type (descriptive, diagnostic, predictive, or prescriptive) that best goes with the example accounting questions. Example Accounting
(LO 5-2, LO 5-3, LO 5-4, LO 5-5, LO 5-6) Select the analytics type (descriptive, diagnostic, predictive, or prescriptive) that best describes the analytics tools/techniques used. Analytics
(LO 5-2, LO 5-3, LO 5-4, LO 5-5, LO 5-6) Select the analytics type (descriptive, diagnostic, predictive, or prescriptive) that best describes the analytics tools/techniques used. Analytics
(LO 5-2, LO 5-3, LO 5-4, LO 5-5, LO 5-6) Select the type of Excel’s Data Analysis Toolpak statistical function that best describes the function of the tool. Data Analytics Statistical Function
(LO 5-3) As part of descriptive analytics, determine which retail company (Amazon, Walmart, Target, or Kroger) has the highest return on assets. Go to their respective websites on finance.yahoo.com
(LO 5-7) If the alpha threshold is 0.05, and the p-value on a t-test comparing one company’s ROA to the industry average ROA is 0.045, what do you conclude about the null hypothesis that the
(LO 5-7)If your IQ is 130, the average population IQ is 100, and the standard deviation is 15, what is your z-score? How many standard deviations is that above the mean? What does that suggest about
(LO 5-2, LO 5-3, LO 5-4, LO 5-5, LO 5-6) Describe specific types of questions asked in auditing that might require descriptive, diagnostic, predictive, and prescriptive analytics(one question for
(LO 5-2, LO 5-3, LO 5-4, LO 5-5, LO 5-6) Describe specific types of questions asked in tax that might require descriptive, diagnostic, predictive, and prescriptive analytics (one question for each).
(LO 5-3, LO 5-8) Download the “DJI Mavic Drone Sales Journal” dataset in Excel. Note the sales price and cost of each sale. Use the descriptive statistics tool featured in Excel’s Analysis
(LO 5-3, LO 5-8) Download the “DJI Mavic Drone Sales Journal” dataset in Excel. Note the sales price and cost of each sale. In Excel, calculate the gross margin (Sales Price –Cost) for each
(LO 5-3, LO 5-8) Download the “Skydio Drone Sales Journal” dataset in Excel. Note the sales price and cost of each sale. Use the descriptive statistics tool featured in Excel’s Analysis Toolpak
(LO 5-3, LO 5-8) Download the “SkyDio Drone Sales Journal” dataset in Excel. Note the sales price and cost of each sale. In Excel, calculate the gross margin percentage (Sales Price –
(LO 6-4) To compute the percentage change in a horizontal analysis, the computation is:a. (New – Old)/Oldb. (Old – New)/Oldc. (Old – New)/Newd. (New – Old)/New
(LO 6-4) In vertical analysis, the relevant base for accounts receivable would be which of the following?a. Sales revenueb. Total assetsc. Total stockholders’ equityd. Total credit sales
(LO 6-3) In which of the buckets would you expect the greatest amount of aged receivables to be?a. 31–60 daysb. 61–90 daysc. 1–30 daysd. 91–120 days
(LO 6-4) Which would have a higher expected profit margin (per dollar of sales) than the others?a. Jewelryb. Shampooc. Bananasd. Clothing
(LO 6-4) Which would have a higher expected asset turnover (per dollar of assets) than the others?a. Jewelryb. Real estatec. Grocery storesd. Airline transportation
(LO 6-4) In vertical analysis, the relevant base for interest expense would be which of the following?a. Sales revenueb. Total assetsc. Total expensesd. Total liabilities
(LO 6-4) The calculation for return on equity using Dupont Analysis would be as follows:a. Profit margin × Asset turnover × Financial leverageb. Profit margin × Asset turnoverc. Asset turnover ×
(LO 6-4) Which ratio includes a component to evaluate financial leverage?a. Return on assetsb. Return on equityc. Return on salesd. Return on investment
(LO 6-2) Which measure would help us evaluate what happens in the highest and lowest 10 percent of the data?a. Quintilesb. Quartilesc. Averaged. Deciles
(LO 6-2, 6-3) A is a graphical depiction of a , which reorganizes and summarizes certain data using cross-tabulations without changing the underlying spreadsheet (or data).a. pivot chart; pivot
(LO 6-1, LO 6-5) Which type of analytics generally would go first when addressing an accounting issue?a. Predictive analyticsb. Prescriptive analyticsc. Diagnostic analyticsd. Descriptive analytics
(LO 6-4) The best measure for evaluating firm efficiency in handling and using assets would be .a. asset turnoverb. return on assetsc. profit margind. return on equity
(LO 6-3) The older the accounts receivable (i.e., longer amount of time it has been outstanding), the likely it will be that they will ultimately be collected.a. moreb. less
(LO 6-2) The best way to analyze the extreme values in the sample would be to consider the .a. meanb. maximum or minimumc. moded. standard deviation
(LO 6-2) The best way to analyze the variability in the sample would be to consider the.a. meanb. maximum or minimumc. moded. standard deviation
(LO 6-3) Why is the accounts receivable aging analysis done in terms of 30-day buckets? Why is that helpful to the decision maker trying to assess the appropriate level of the Allowance for Doubtful
(LO 6-1, LO6-3, LO 6-5) The text discussed additional analysis that could be used to understand why customers are late paying their receivables, such learning more about the customers and their
(LO 6-3) In the chapter, we had an example of Amazon being one of the top six in terms of economy-wide dollar of sales increases from 2016 to 2017, but it is only in the top quartile of percentage of
(LO 6-4) Explain how the DuPont ratio analysis divides up return on equity into component parts of profitability, efficiency, and leverage. Why do you think it is useful to divide it into these parts
(LO 6-4) How do vertical and horizontal analyses complement each other in describing the performance of the company over the last relevant period?
(LO 6-2) When would the use of quartiles be more useful in describing a dataset than means or medians?
(LO 6-4) How do sparklines help the reader quickly grasp what happened? When might they be more useful than a table of figures or a bigger graph?
(LO 6-4, LO 6-5) Based on Exhibit 6.10 and the descriptive analytics reporting the return on market equity (the research work of Burgstahler and Dichev referenced in the chapter), what additional
(LO 6-5) Why is descriptive analytics usually the first step in analyzing firm performance?Give three examples of basic descriptive analyses in this chapter that might lead to diagnostic analyses to
(LO 6-2, LO 6-3, LO 6-4) Match the descriptive analytics terms (descriptive statistics, horizontal analysis, vertical analysis, DuPont analysis, histogram) to its definition. Descriptive Analytics
(LO 6-2, LO 6-3) Match the descriptive analytics tools and techniques to an example or definition. Descriptive Analytics Tools and Techniques Quartiles Deciles Pivot table Percentage change Median
(LO 6-2, LO 6-3, LO 6-4) Match the descriptive analytics tool and technique to an example or definition. Descriptive Analytics Tools and Techniques Count Pivot chart Pivot table Return on assets
(LO 6-4) Compute the DuPont ratios (profit margin, asset turnover, and financial leverage ratios) for Walmart and Target given these numbers for 2012–2020. Check your numbers to make sure that
(LO 6-4) Compute the DuPont ratios (profit margin, asset turnover, and financial leverage ratios) for Amazon and Kroger given these numbers for 2012–2020. Check your numbers to make sure that
(LO 6-3, LO 6-4) Use the following data to graph the sales revenue and net income for Walmart from 2012–2020 in Excel. Create a bar graph for sales revenue, and create a line graph for net income,
(LO 6-3, LO 6-4) Use Excel to graph the past 3–5 years of stock prices of any publicly traded company (traded on NASDAQ, NYSE, or AMEX and listed at
(LO 6-3, LO 6-4) Use Excel to graph the past 3–5 years of sales and net income of any publicly traded company (traded on NASDAQ, NYSE, or AMEX and listed at
(LO 6-2) Download the “Accounts Receivable Balances” dataset in Excel from Connect.Required:1. Using the Quartile function in Excel, calculate the minimum and maximum values and the value of the
(LO 6-2, LO 6-3, LO 6-4) Download the “Stock Returns DJIA Nasdaq SP500” dataset in Excel from Connect (Source: https://www.1stock1.com/1stock1_142.htm). Note the annual stock market returns to
(LO 6-2, LO 6-3, LO 6-4) Download the “Stock Returns DJIA Nasdaq SP500” dataset in Excel from Connect (Source: https://www.1stock1.com/1stock1_142.htm). Note the annual stock market returns to
(LO 6-2, LO 6-3) Which stock return index has a higher return on investment: S&P 500, High-Grade Corporate Bonds, or the U.S. Treasury Bond from 1975 to 2021? Download the “Stock Returns DJIA
(LO 7-2) According to Benford’s law, what is the expectation for the percentage of times that the first digit of a number is a 9?a. 5.12%b. 4.58%c. 5.80%d. 30.10%
(LO 7-2) What is an example of a cash reconciling item for an item recorded in the general ledger but not yet recorded in the bank statement?a. Bank service feeb. Interest earned on notes held by the
(LO 7-2) Which cash reconciling item could potentially affect either the bank statement or the general ledger?a. Errorb. Interest earned on notes held by the bankc. Outstanding checksd. NSF checks
(LO 7-2) Which of the following can potentially find gaps in the check numbers written?a. Fuzzy matchingb. Test of duplicatesc. Benford’s lawd. Sequence check
(LO 7-3) Diagnostic analytics which uncovers previously unknown linkages, patterns, and relationships between variables is known as which of the following?a. outlier/anomaly detectionb. regressionc.
(LO 7-3) The appropriate test to compare one sample to another sample to see if one is greater than another in some way is called a(n) .a. regressionb. two-sample t-test of a
(LO 7-3) The appropriate test to see if independent variables are related to a dependent variable is called a(n) .a. regressionb. two-sample t-test of a difference in meansc.
(LO 7-2) is used to help find vendors that might have a similar address as an employee.a. Duplicate testingb. Sequence checkc. Benford’s lawd. Fuzzy matching
(LO 7-2) In fuzzy matching, if an exact match (tolerance = 100%) is required, what is the likely consequence for finding potential matches?a. Too many potential matchesb. Only exactly matches, no
(LO 7-2) Management accounting uses variance analysis to explain what and why something happened in the cost of producing products. It is done by comparing actual outcomes to expected, or standard,
(LO 7-3) Where would the company likely get data comparing the salaries of female executives to the salaries of male executives?a. Customer relationship management systemb. Accounting systemc. Human
(LO 7-2) According to Benford’s law, which one of these first digits has a higher probability of occurrence than the first digit 3?a. 9b. 7c. 4d. 2
(LO 7-2) When is Benford’s law analysis not useful?a. Assets only recorded above a certain thresholdb. Cash disbursementsc. Earnings per shared. Large datasets
(LO 7-3) Analysis of the customer that owes the most would be an example of the diagnostic analytics of .a. performing drill-down detailed analyticsb. determining
(LO 7-3) Evaluating the relationship between sales and advertising expense would be an example of the diagnostic analytics of .a. performing drill-down detailed analyticsb.
(LO 7-2) Computing and evaluating price and quantity variances would be an example of the diagnostic analytics of .a. performing drill-down detailed analyticsb. determining
(LO 7-1) Give a few examples of how diagnostic analytics answers the question “Why did it happen?”
(LO 7-2) What kind of testing would we use to finding missing check numbers? What type of testing should be used to see if some checks were double counted?
(LO 7-2) How is management by exception similar to finding and addressing anomalies?
(LO 7-2) What are the consequences of setting the tolerances too high (100% = exact match) or too low (30% = extreme inexact match) for use in the fuzzy match analytics?What tolerance level would you
(LO 7-3) Why does the sunk cost fallacy make it difficult to abandon some investments?What type of analytics should be used to get a more rational view?
(LO 7-3) In the chapter and in Lab 7.9, we discuss the possibility of a relation between advertising expenses and sales. Would it also make sense to look at the relation between advertising expenses

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