SOLUTION MANUAL for Data Analytics for Accounting,
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3rd Edition by Vernon Richardson, Chapters 1 - 9
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1
,TABLE OF CONTENTS
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Chapter 1: Data Analytics for Accounting and Identifying the Questions
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Chapter 2: Mastering the Data
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Chapter 3: Performing the Test Plan and Analyzing the Results
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Chapter 4: Communicating Results and Visualizations
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Chapter 5: The Modern Accounting Environment
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Chapter 6: Audit Data Analytics
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Chapter 7: Managerial Analytics
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Chapter 8: Financial Statement Analytics
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Chapter 9: Tax Analytics
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2
,Solutions Manual – Chapter 1
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Solutions jto jMultiple jChoice jQuestions
1. (LO j1-1) jBig jData jis joften jdescribed jby jthe jfour jVs, jor
a. volume, jvelocity, jveracity, jand jvariability.
b. volume, jvelocity, jveracity, jand jvariety.
c. volume, jvolatility, jveracity, jand jvariability.
d. variability, jvelocity, jveracity, jand jvariety.
Answer: jb
2. LO j1-4) jWhich jdata japproach jattempts jto jassign jeach junit jin ja jpopulation jinto ja jsmall jset jofjclasses
j(or jgroups) jwhere jthe junit jbest jfits?
a. Regression
b. Similarity jmatching
c. Co-occurrence jgrouping
d. Classification
Answer: jd
3. (LO j1-4) jWhich jdata japproach jattempts jto jidentify jsimilar jindividuals jbased jon jdata jknownjabout
jthem?
a. Classification
b. Regression
c. Similarity jmatching
d. Data jreduction
Answer: jc
4. (LO j1-4) jWhich jdata japproach jattempts jto jpredict jconnections jbetween jtwo jdata jitems?
a. Profiling
b. Classification
c. Link jprediction
d. Regression
3
, Answer: jc
5. (LO j1-6) jWhich jof jthese jterms jis jdefined jas jbeing ja jcentral jrepository jof jdescriptions jfor jall jofjthe jdata
jattributes jof jthe jdataset?
a. Big jData
b. Data jwarehouse
c. Data jdictionary
d. Data jAnalytics
Answer: jc
6. (LO j1-5) jWhich jskills jwere jnot jemphasized jthat janalytic-minded jaccountants jshould jhave?
a. Developed jan janalytics jmindset
b. Data jscrubbing jand jdata jpreparation
c. Classification jof jtest japproaches
d. Statistical jdata janalysis jcompetency
Answer: jc
7. (LO j1-5) jIn jwhich jareas jwere jskills jnot jemphasized jfor janalytic-minded jaccountants?
a. Data jquality
b. Descriptive jdata janalysis
c. Data jvisualization jand jdata jreporting
d. Data jand jsystems janalysis jand jdesign
Answer: jd
8. (LO j1-4) jThe jIMPACT jcycle jincludes jall jexcept jthe jfollowing jsteps:
a. perform jtest jplan.
b. visualize jthe jdata.
c. master jthe jdata.
d. track joutcomes.
Answer: jb
9. (LO j1-4) jThe jIMPACT jcycle jspecifically jincludes jall jexcept jthe jfollowing jsteps:
a. data jpreparation.
b. communicate jinsights.
c. address jand jrefine jresults.
d. perform jtest jplan.
4
j j j j j j
3rd Edition by Vernon Richardson, Chapters 1 - 9
j j j j j j j j j j
1
,TABLE OF CONTENTS
j j
Chapter 1: Data Analytics for Accounting and Identifying the Questions
j j j j j j j j j
Chapter 2: Mastering the Data
j j j j
Chapter 3: Performing the Test Plan and Analyzing the Results
j j j j j j j j j
Chapter 4: Communicating Results and Visualizations
j j j j j
Chapter 5: The Modern Accounting Environment
j j j j j
Chapter 6: Audit Data Analytics
j j j j
Chapter 7: Managerial Analytics
j j j
Chapter 8: Financial Statement Analytics
j j j j
Chapter 9: Tax Analytics
j j j
2
,Solutions Manual – Chapter 1
j j j j
Solutions jto jMultiple jChoice jQuestions
1. (LO j1-1) jBig jData jis joften jdescribed jby jthe jfour jVs, jor
a. volume, jvelocity, jveracity, jand jvariability.
b. volume, jvelocity, jveracity, jand jvariety.
c. volume, jvolatility, jveracity, jand jvariability.
d. variability, jvelocity, jveracity, jand jvariety.
Answer: jb
2. LO j1-4) jWhich jdata japproach jattempts jto jassign jeach junit jin ja jpopulation jinto ja jsmall jset jofjclasses
j(or jgroups) jwhere jthe junit jbest jfits?
a. Regression
b. Similarity jmatching
c. Co-occurrence jgrouping
d. Classification
Answer: jd
3. (LO j1-4) jWhich jdata japproach jattempts jto jidentify jsimilar jindividuals jbased jon jdata jknownjabout
jthem?
a. Classification
b. Regression
c. Similarity jmatching
d. Data jreduction
Answer: jc
4. (LO j1-4) jWhich jdata japproach jattempts jto jpredict jconnections jbetween jtwo jdata jitems?
a. Profiling
b. Classification
c. Link jprediction
d. Regression
3
, Answer: jc
5. (LO j1-6) jWhich jof jthese jterms jis jdefined jas jbeing ja jcentral jrepository jof jdescriptions jfor jall jofjthe jdata
jattributes jof jthe jdataset?
a. Big jData
b. Data jwarehouse
c. Data jdictionary
d. Data jAnalytics
Answer: jc
6. (LO j1-5) jWhich jskills jwere jnot jemphasized jthat janalytic-minded jaccountants jshould jhave?
a. Developed jan janalytics jmindset
b. Data jscrubbing jand jdata jpreparation
c. Classification jof jtest japproaches
d. Statistical jdata janalysis jcompetency
Answer: jc
7. (LO j1-5) jIn jwhich jareas jwere jskills jnot jemphasized jfor janalytic-minded jaccountants?
a. Data jquality
b. Descriptive jdata janalysis
c. Data jvisualization jand jdata jreporting
d. Data jand jsystems janalysis jand jdesign
Answer: jd
8. (LO j1-4) jThe jIMPACT jcycle jincludes jall jexcept jthe jfollowing jsteps:
a. perform jtest jplan.
b. visualize jthe jdata.
c. master jthe jdata.
d. track joutcomes.
Answer: jb
9. (LO j1-4) jThe jIMPACT jcycle jspecifically jincludes jall jexcept jthe jfollowing jsteps:
a. data jpreparation.
b. communicate jinsights.
c. address jand jrefine jresults.
d. perform jtest jplan.
4
