ACCOUNTING DATA ANALYTICS | | COMPLETE QUESTIONS AND ANSWERS | 100% RATED
CORRECT | 2025-2026 LATEST UPDATE
How does data analytics affect financial reporting? -Better estimates
- Identify risks and opportunities through analysis of internet services
How does data analytics affect Tax? - Tax strategy/planning
- understanding tax consequences of international transactions, investment, mergers
Identify the questions Understand the business problems that need to be addressed
Master the Data Know what data are available and how they relate to the problem
(ETL, Data prep, scrubbing, data validation, completeness)
Perform the test plan Select an appropriate model to find a target variable
Address and refine results Identify issues w/ analysis, ask questions, explore data, rerun
analysis
Communicate insights Communicate effectively using clear language and visualizations
Track outcomes Follow up on the results, how frequently should analysis be done, what are
the trends,
What data analytics skills do accountants need? - Articulate business problems
- Communicate with data scientists
, - Draw conclusions
- Present results
- Develop an analytics mindset
Accountants need to be comfortable with: - Data scrubbing/prep
- Data quality
- Descriptive data analytics
- Data analysis through data manipulation
- Define and address problems through statistical analysis
- Data visualization and data reporting
What are the four types of attributes: Primary Key: unique identifiers
Foreign Key: attributes that point to a primary key in another table
Composite Key: combination of two foreign keys
Descriptive attributes: everything else
Relational databasese ensure data is: - Complete
- Not redundant
- Follow business rules
- Aid communication
A Target is: an expected attribute that we want to evaluate. (Fraud score, Interest rate)
A class is: A manually assigned category applied to a record based on an event.
(Accept/Reject)
CORRECT | 2025-2026 LATEST UPDATE
How does data analytics affect financial reporting? -Better estimates
- Identify risks and opportunities through analysis of internet services
How does data analytics affect Tax? - Tax strategy/planning
- understanding tax consequences of international transactions, investment, mergers
Identify the questions Understand the business problems that need to be addressed
Master the Data Know what data are available and how they relate to the problem
(ETL, Data prep, scrubbing, data validation, completeness)
Perform the test plan Select an appropriate model to find a target variable
Address and refine results Identify issues w/ analysis, ask questions, explore data, rerun
analysis
Communicate insights Communicate effectively using clear language and visualizations
Track outcomes Follow up on the results, how frequently should analysis be done, what are
the trends,
What data analytics skills do accountants need? - Articulate business problems
- Communicate with data scientists
, - Draw conclusions
- Present results
- Develop an analytics mindset
Accountants need to be comfortable with: - Data scrubbing/prep
- Data quality
- Descriptive data analytics
- Data analysis through data manipulation
- Define and address problems through statistical analysis
- Data visualization and data reporting
What are the four types of attributes: Primary Key: unique identifiers
Foreign Key: attributes that point to a primary key in another table
Composite Key: combination of two foreign keys
Descriptive attributes: everything else
Relational databasese ensure data is: - Complete
- Not redundant
- Follow business rules
- Aid communication
A Target is: an expected attribute that we want to evaluate. (Fraud score, Interest rate)
A class is: A manually assigned category applied to a record based on an event.
(Accept/Reject)
