Test Bank for Data Analytics for Accounting 3rd Edition By Vernon Richardson, Ryan A. Teeter & Katie L. Terrell All Chapter 1-9 Q&A Verified| Grade A+ ISBN 9781260288407

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TESTBANKSPROF

Test Bank for Data Analytics for Accounting 3rd Edition

By Vernon Richardson, Ryan A. Teeter & Katie L. Terrell

All Chapter 1-9 Q&A Verified| Grade A+

ISBN 9781260288407




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, THIS DOCUMENT BELONGS TO
TESTBANKSPROF

TABLE OF CONTENTS
Chapter 01: Data Analytics for Accounting and Identifying the Questions ................... 3
Chapter 02: Mastering the Data .................................................................................. 23
Chapter 03: Performing the Test Plan and Analyzing the Results .............................. 51
Chapter 04: Communicating Results and Visualizations ............................................ 82
Chapter 05: The Modern Accounting Environment .................................................. 107
Chapter 06: Audit Data Analytics .............................................................................. 134
Chapter 07: Managerial Analytics ............................................................................. 158
Chapter 08: Financial Statement Analytics ............................................................... 185
Chapter 09: Tax Analytics ......................................................................................... 216




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Chapter 01: Data Analytics for Accounting and Identifying the Questions
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) Data analytics is the process of evaluating data with the purpose of drawing
conclusions to address business questions.
⊚ true
⊚ false




2) The process of data analytics aims to transform raw information into data to
create value.
⊚ true
⊚ false




3) Data analytics has the potential to transform the manner in which companies run
their businesses, however it is not practical in the near future.
⊚ true
⊚ false




4) Auditors can use social media to hear what customers are saying about a
company and compare this to inventory obsolescence and other estimates.
⊚ true
⊚ false




5) Data analytics allows auditors to glean insights that are beneficial to the client,
without breeching independence.
⊚ true
⊚ false




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6) The predictive analytics is an important aspect of data analytics for auditors, but
is not applicable for tax accountants.
⊚ true
⊚ false




7) The I in IMPACT Cycle represents Identify the Question.
⊚ true
⊚ false




8) The M in IMPACT Cycle represents Master the Data.
⊚ true
⊚ false




9) The P in IMPACT Cycle represents Predict the Results.
⊚ true
⊚ false




10) The A in IMPACT Cycle represents Analyze the Data.
⊚ true
⊚ false




11) The C in IMPACT Cycle represents Continuously Track.
⊚ true
⊚ false




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