Solution Manual for Data and Analytics in Accounting An Integrated Approach 1e Ann C. Dzuranin, Guido Geerts, Margarita Lenk

Solution Manual for Data and Analytics in Accounting An Integrated Approach 1e Ann C. Dzuranin, Guido Geerts, Margarita Lenk-1. Both the CPA exam and the CMA exam have added data analytic content to their exams. This is in response to what new professionals need to know as they enter the accounting profession. The CPA Exam Evolution is a strong indication of how the accounting profession is changing. The new CPA exam will have more technology and data analytics questions in the Core exam, as well as the Discipline exams.The first step is to identify the motivation for the analysis. The motivation for a project is the why the analysis is being performed. It is important to understand the reason for the analysis before beginning the analysis. The second step is to set an objective. In other words, “What is the goal of the analysis?” This step will help articulate the goal and specific questions that will be analyzed. The third step is to develop a strategy. In this step, we determine the data and analysis methods necessary to achieve the project’s goal. LO 1.2, BT: K, Difficulty: Easy, TOT: 8 min, AACSB: Knowledge, AICPA FC: Leverage Technology to Develop and Enhance Functional Competencies 6. Extracting is the process in which data is retrieved from a source. This could involve downloading an Excel file or extracting data from a database or a data warehouse. Transforming the data occurs when data is cleaned, restructured, and/or integrated prior to using it for analysis. Loading data is the process of importing transformed data into the software used to perform analyses