ACC 304 Accounts Receivable Data Analytics Assignment School of Accountancy and MIS DePaul University Fall, 2020 The purpose of this assignment is to introduce accounting students to the tools available in Microsoft Excel to perform data analytics in accounting. There are two parts to the assignment. In Part I you will be using Excel to work with data. In Part II you will use the data from the Excel worksheet to answer questions. This assignment must be submitted to the Submissions folder in D2L by November 13, 2020 11:00 p.m. This assignment is worth 10% of your total grade for Acc. 304. You must submit in two separate files for this project: Part I: an Excel file with worksheet 1-5 Part II: a Word document with your answers to questions 1-10. Introduction: . Data analytics can broadly be defined as the process of examining sets of data with the goal of discovering useful information from patterns found in the data. Data analytics can be categorized into four types: descriptive, diagnostic, predictive, and prescriptive. Many accountants are already performing descriptive data analytics. Accountants can add much more value by performing predictive and prescriptive data analytics. The large accounting firms have devoted large resources to data analytics. . Being well trained in data analytics is important for future accountants. Type of Data Analytics Purpose Example Descriptive To explain what happened Sales trends for last year Diagnostic To understand why it happened Did the new advertising campaign cause sales to increase last quarter? Predictive To predict what will happen Predicting fraudulent charges based on past behaviors Prescriptive To determine what should Expand business to optimize happen sales based on predicted championship 1