Complete Solutions Manual — Data Analytics for Accounting, 3rd Edition — Vernon J. Richardson — ISBN 9781264444908 — (All Chapters Covered 1–11, Solutions Included)

Data Analytics for
Accounting 3rd Edition
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SOLUTIONS
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MANUAL
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Vernon Richardson
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Ryan Teeter
Katie Terrell
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Comprehensive Solutions Manual for Instructors
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and Students

© Vernon Richardson, Ryan Teeter & Katie Terrell.
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All rights reserved. Reproduction or distribution without permission is prohibited.
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© Successhands

, Solutions Manual for Data Analytics for Accounting (3rd Edition)
Vernon Richardson, Ryan Teeter & Katie Terrell
ISBN: 9781264444908
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Chapter 1. Data Analytics for Accounting and Identifying the Questions

Chapter 2. Mastering the Data
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Chapter 3. Performing the Test Plan and Analyzing the Results

Chapter 4. Communicating Results and Visualizations

Chapter 5. The Modern Accounting Environment
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Chapter 6. Audit Data Analytics
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Chapter 7. Managerial Analytics

Chapter 8. Financial Statement Analytics

Chapter 9. Tax Analytics
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Chapter 10. Project Chapter (Basic)

Chapter 11. Project Chapter (Advanced): Analyzing Dillard’s Data to
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Predict Sales Returns
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© Successhands

, Richardson, Teeter, Terrell – Data Analytics for Accounting, 3e



Solution Manual For
Data Analytics for Accounting, 3rd Edition Richardson
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Chapter 1-9
Solutions Manual – Chapter 1
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Solutions to Multiple Choice Questions

1. (LO 1-1) Big Data is often described by the four Vs, or

a. volume, velocity, veracity, and variability.
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b. volume, velocity, veracity, and variety.
c. volume, volatility, veracity, and variability.
d. variability, velocity, veracity, and variety.
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Answer: b

2. LO 1-4) Which data approach attempts to assign each unit in a population into a small set of
classes (or groups) where the unit best fits?
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a. Regression
b. Similarity matching
c. Co-occurrence grouping
d. Classification
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Answer: d

3. (LO 1-4) Which data approach attempts to identify similar individuals based on data known
about them?

a. Classification
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b. Regression
c. Similarity matching
d. Data reduction
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Answer: c

4. (LO 1-4) Which data approach attempts to predict connections between two data items?
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a. Profiling
b. Classification
c. Link prediction
d. Regression




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, Richardson, Teeter, Terrell – Data Analytics for Accounting, 3e



Answer: c


5. (LO 1-6) Which of these terms is defined as being a central repository of descriptions for all of
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the data attributes of the dataset?

a. Big Data
b. Data warehouse
c. Data dictionary
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d. Data Analytics

Answer: c

6. (LO 1-5) Which skills were not emphasized that analytic-minded accountants should have?
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a. Developed an analytics mindset
b. Data scrubbing and data preparation
c. Classification of test approaches
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d. Statistical data analysis competency

Answer: c

7. (LO 1-5) In which areas were skills not emphasized for analytic-minded accountants?
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a. Data quality
b. Descriptive data analysis
c. Data visualization and data reporting
d. Data and systems analysis and design
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Answer: d

8. (LO 1-4) The IMPACT cycle includes all except the following steps:

a. perform test plan.
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b. visualize the data.
c. master the data.
d. track outcomes.
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Answer: b

9. (LO 1-4) The IMPACT cycle specifically includes all except the following steps:
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a. data preparation.
b. communicate insights.
c. address and refine results.
d. perform test plan.




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