DATA ANALYTICS FOR ACCOUNTING EXAM
2026 EXAMINATION TEST
◉ What are the Four V's of Big Data? Answer: Volume, veracity,
variety, velocity.
◉ How is the role of accountants evolving? Answer: Accountants will
need to work as strategic advisors instead of performing mundane
recordkeeping.
◉ What is Bloom's Taxonomy? Answer: A hierarchical overview of
critical thinking skills, ranging from remembering to creating.
◉ Which levels of Bloom's Taxonomy are typically involved in data
analytics? Answer: Analyze, evaluate, and create.
◉ What is the AMPS Model in data analytics? Answer: Ask the
question, Master the data, Perform the analysis, Share the story.
◉ What type of analytics provides basic information about what
happened? Answer: Descriptive analytics.
,◉ What does diagnostic analytics focus on? Answer: Understanding
why something happened and identifying root causes of past results.
◉ What is predictive analytics used for? Answer: To predict future
events based on prior data.
◉ What does prescriptive analytics provide? Answer:
Recommendations for actions based on predictions.
◉ What should be considered when mastering data? Answer: Data
integrity, potential errors, missing data, bias, and ownership.
◉ What is a PivotTable used for in data analysis? Answer: To
summarize accounts receivable aging or post journal entries to a
trial balance.
◉ What is the purpose of cash flow analysis? Answer: To evaluate
capital investments or equity investments for potential investors.
◉ What type of analysis can identify unusual and potentially
fraudulent transactions? Answer: Benford's Law.
◉ What are static visualizations? Answer: Visualizations created as
one-off analyses that do not change once created.
, ◉ What are dynamic visualizations? Answer: Visualizations that
update continuously as new data becomes available.
◉ Why is visualization important in data analytics? Answer: People
prefer visuals to text, and visuals can summarize complex
information effectively.
◉ What is an example of a bar chart used in data analytics? Answer:
Comparing sales values between companies like Toyota and Tesla.
◉ What does a pie chart represent? Answer: The composition of
values, such as the proportion of sales from each division of a
company.
◉ What type of graph shows trends over time? Answer: A line graph.
◉ What is the purpose of a scatterplot? Answer: To show
relationships between two variables, such as advertising expense
and sales revenue.
◉ What is the significance of the quote, 'Your data won't speak
unless you ask it the right data analytics questions'? Answer: It
emphasizes the importance of formulating the correct questions to
extract meaningful insights from data.
2026 EXAMINATION TEST
◉ What are the Four V's of Big Data? Answer: Volume, veracity,
variety, velocity.
◉ How is the role of accountants evolving? Answer: Accountants will
need to work as strategic advisors instead of performing mundane
recordkeeping.
◉ What is Bloom's Taxonomy? Answer: A hierarchical overview of
critical thinking skills, ranging from remembering to creating.
◉ Which levels of Bloom's Taxonomy are typically involved in data
analytics? Answer: Analyze, evaluate, and create.
◉ What is the AMPS Model in data analytics? Answer: Ask the
question, Master the data, Perform the analysis, Share the story.
◉ What type of analytics provides basic information about what
happened? Answer: Descriptive analytics.
,◉ What does diagnostic analytics focus on? Answer: Understanding
why something happened and identifying root causes of past results.
◉ What is predictive analytics used for? Answer: To predict future
events based on prior data.
◉ What does prescriptive analytics provide? Answer:
Recommendations for actions based on predictions.
◉ What should be considered when mastering data? Answer: Data
integrity, potential errors, missing data, bias, and ownership.
◉ What is a PivotTable used for in data analysis? Answer: To
summarize accounts receivable aging or post journal entries to a
trial balance.
◉ What is the purpose of cash flow analysis? Answer: To evaluate
capital investments or equity investments for potential investors.
◉ What type of analysis can identify unusual and potentially
fraudulent transactions? Answer: Benford's Law.
◉ What are static visualizations? Answer: Visualizations created as
one-off analyses that do not change once created.
, ◉ What are dynamic visualizations? Answer: Visualizations that
update continuously as new data becomes available.
◉ Why is visualization important in data analytics? Answer: People
prefer visuals to text, and visuals can summarize complex
information effectively.
◉ What is an example of a bar chart used in data analytics? Answer:
Comparing sales values between companies like Toyota and Tesla.
◉ What does a pie chart represent? Answer: The composition of
values, such as the proportion of sales from each division of a
company.
◉ What type of graph shows trends over time? Answer: A line graph.
◉ What is the purpose of a scatterplot? Answer: To show
relationships between two variables, such as advertising expense
and sales revenue.
◉ What is the significance of the quote, 'Your data won't speak
unless you ask it the right data analytics questions'? Answer: It
emphasizes the importance of formulating the correct questions to
extract meaningful insights from data.
