TEST BANK FOR Data and Analytics in Accounting An Integrated Approach 1st Edition by Ann C. Dzuranin, Guido Geerts, Margarita Lenk |All Chapters| Latest Version 2025 A+

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,Solution Manual for hpw hpw




Data and Analytics in Accounting An Integrated Approach 1e
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Ann C. Dzuranin, Guido Geerts, Margarita Lenk
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CHAPTER 1 hpw




DATA AND ANALYTICS IN THE ACCOUNTING
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PROFESSION hpw




Learning Objectives:hpw



LO 1.1: Summarize how advances in data and technology are impacting accounting
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professionals. LO 1.2:
hpw Describe the stages of the data analysis process.
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LO 1.3:
hpw Identify the skills necessary to perform data analysis.
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LO 1.4: Explain how to apply a data analytics mindset during the data analysis process.
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ANSWERS TO MULTIPLE CHOICE QUESTIONS hpw hpw hpw hpw




1. h p w A 5. h p w B
LO hpw1.1, h p w BT: h p w K, h p w Difficulty: h p w Easy, h p w TOT: h p w 2 hpw min,
LO hpw1.2, hpwBT: hpwK, hpwDifficulty: hpwEasy, hpwTOT: hpw2 hpwmin, hpwAACSB: hpwKnowledge, hpwAICP
h p w AACSB: h p w Knowledge, h p w AICPA h p w FC: h p w Leverage
hpwFC: h p w Leverage hpw Technology hpw to h pw Develop hpw and hpw Enhance hpw Functional
hpwTechnology hpw to hpwDevelop hpwand hpwEnhance hpwFunctional
hpw Competencies
hpwCompetencies


2. h p w C 6. h pw h pw C
LO hpw1.1, hpwBT: hpwK, hpwDifficulty: hpwEasy, hpwTOT: hpw2 hpwmin, hpwAACSB:
hpwKnowledge, hpwAICPA hpwFC: h p w Leverage hpw Technology hpw to

hpw Develop hpwand hpw Enhance hpw Functional hpw Competencies




3. h p w C
LO hpw1.2, hpwBT: hpwK, hpwDifficulty: hpwEasy, hpwTOT: hpw2 hpwmin, hpwAACSB:
hpwKnowledge, hpwAICPA hpwFC: h p w Leverage hpw Technology hpw to

h pw Develop hpwand hpw Enhance hpw Functional hpw Competencies




4. h p w B
LO hpw1 hpw2, hpwBT: hpwK, hpwDifficulty: hpwEasy, hpwTOT: hpw2 hpwmin, hpwAACSB:
hpwKnowledge, hpwAICPA hpwFC: h p w Leverage hpw Technology hpw to

hpw Develop hpwand hpw Enhance hpw Functional hpw Competencies



1-2

, LO hpw1.2, hpwBT: hpwK, hpwDifficulty: hpwEasy, hpwTOT: hpw2 hpwmin,
hpwAACSB: hpwKnowledge, hpwAICPA hpwFC: h p w Leverage

hpw Technology h p w to h pw Develop hpwand hpw Enhance

hpw Functional hpw Competencies




7. h p w D
LO hpw1.2, hpwBT: hpwC, hpwDifficulty: hpwMedium, hpwTOT: hpw3
hpwmin, hpwAACSB: hpwAnalytic, hpwAICPA hpwFC: h p w Leverage

hpw Technology hpw to hpw Develop hpwand hpw Enhance

hpw Functional hpw Competencies




8. h p w C
LO hpw1.2, hpwBT: hpwC, hpwDifficulty: hpwMedium, hpwTOT: hpw3
hpwmin, hpwAACSB: hpwAnalytic, hpwAICPA hpwFC: h p w Leverage

hpw Technology h pw to hpw Develop hpwand h pw Enhance

hpw Functional hpw Competencies




9. h p w A
LO hpw1.3, hpwBT: hpwK, hpwDifficulty: hpwEasy, hpwTOT:
hpw2 hpwmin, hpwAACSB: hpwKnowledge, hpwAICPA hpwFC:

h p w Leverage hpw Technology hp w to hpw Develop

hpw and hpw Enhance hpw Functional hpw Competencies




10.D
LO hpw1.3, hpwBT: hpwK, hpwDifficulty: hpwEasy, hpwTOT: hpw2 hpwmin,
hpwAACSB: hpwKnowledge, hpwAICPA hpwFC: h p w Leverage

hpw Technology h pw to hpw Develop hpw and hpw Enhance

hpw Functional hpw Competencies




11.B




1-3

, LO hpw1.3, hpwBT: hpwK, hpwDifficulty: hpwEasy, hpwTOT: hpw2 hpwmin, hpwAACSB:
hpwKnowledge, hpwAICPA hpwFC: h p w Leverage hpw Technology h pw to
14.A
hpw Develop hpw and hpw Enhance hpw Functional hpw Competencies
LO hpw1.4, hpwBT: hpwC, hpwDifficulty: hpwMedium, hpwTOT: hpw3 hpwmin, hpwAACSB:
hpwAnalytic, hpwAICPA hpwFC: h p w Leverage hpw Technology h pw to hpw Develop

hpwand hpw Enhance hpw Functional hpw Competencies
12.A
LO hpw1.4, hpwBT: hpwK, hpwDifficulty: hpwEasy, hpwTOT: hpw2 hpwmin, hpwAACSB:
hpwKnowledge, hpwAICPA hpwFC: h p w Leverage hpw Technology h pw to
15.B
hpw Develop hpw and hpw Enhance hpw Functional hpw Competencies
LO hpw1.4, hpwBT: hpwC, hpwDifficulty: hpwMedium, hpwTOT: hpw3 hpwmin, hpwAACSB:
hpwAnalytic, hpwAICPA hpwFC: h p w Leverage hpw Technology h pw to hpw Develop

hpw and hpw Enhance hpw Functional hpw Competencies
13.D
LO hpw1.4, hpwBT: hpwK, hpwDifficulty: hpwEasy, hpwTOT: hpw2 hpwmin, hpwAACSB:
hpwKnowledge, hpwAICPA hpwFC: h p w Leverage hpw Technology h pw to

hpw Develop hpw and hpw Enhance hpw Functional hpw Competencies




ANSWERS TO REVIEW QUESTIONS hpw hpw hpw




1. Both the CPA exam and the CMA exam
hpw hpw hpw hpw hpw hpw hpw hpw have added data analytic content to
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their exams. This is in response to what
hpw hpw hpw hpw hpw hpw hpw hpw hpw new professionals need to know as they
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enter the accounting profession. The CPA
hpw hpw hpw hpw hpw hpw hpw Exam Evolution is a strong indication of
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how the accounting profession is changing.
hpw hpw hpw hpw hpw hpw hpw The new CPA exam will have more
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technology and data analytics questions in
hpw hpw hpw hpw hpw hpw hpw the Core exam, as well as the Discipline
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exams.
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LO hpw1.1, hpwBT: hpwK, hpwDifficulty: hpwEasy, hpwTOT: hpw6 hpwmin, hpwAACSB: hpwKnowledge, hpwAICPA hpwFC: hpwLeverage hpwTechnology hpwto hpwDevelop hpwand hpwEnhance hpwFunctional hpwCompetencies



2.

Changes Accounting Practice Area hpw hpw


1. Ability to use entire data sets to
hpw hpw hpw hpw hpw hpw hpw ANS: a. Auditing, c. Managerial
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identify exceptions, anomalies, and
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outliers
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2. Automation of manual processes
hpw hpw hpw hpw ANS: a., b., c., d.
hpw (All areas)
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3. Automation of journal entries
hpw hpw hpw hpw ANS: b. Financial accounting
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4. Risk identification
h p w hpw ANS:. a. Auditing, c. Managerial
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accounting
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5. Forecasting
hpw ANS: b. Financial accounting, c.
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Managerial accounting
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6. Compliance reporting
hpw hpw ANS: d. Tax accounting
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LO hpw1.1, hpwBT: hpwC, hpwDifficulty: hpwMedium, hpwTOT: hpw8 hpwmin, hpwAACSB: hpwAnalytic, hpwAICPA hpwFC: hpwLeverage hpwTechnology hpwto hpwDevelop hpwand hpwEnhance hpwFunctional hpwCompetencies



3. Data are raw facts and figures. Technology helps covert that data into information.
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Information is the knowledge gained from analyzing the data.
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LO hpw1.1, hpwBT: hpwC, hpwDifficulty: hpwMedium, hpwTOT: hpw6 hpwmin, hpwAACSB: hpwAnalytic, hpwAICPA hpwFC: hpwLeverage hpwTechnology hpwto hpwDevelop hpwand hpwEnhance hpwFunctional hpwCompetencies




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