BUSINESS ANALYTICS THE ART OF
MODELING WITH SPREADSHEETS FINAL
PAPER TESTED QUESTIONS WITH VERIFIED
ANSWERS COMPLETE STUDY SHEET
●● Accounting Data Analytics
Answer: Using technologies, systems, practices, databases, statistics,
and applications to analyze accounting and nonaccounting data for better
business decisions.
●● AMPS Model
Answer: A framework for data analytics: Ask the Question, Master the
Data, Perform the Analysis, and Share the Story.
●● Ask the Question
Answer: The first step in AMPS where the accountant identifies the
business or accounting question that needs to be answered.
●● Master the Data
Answer: The AMPS step where the accountant finds, understands,
cleans, and prepares the data before analysis.
●● Perform the Analysis
,Answer: The AMPS step where the accountant applies tools, formulas,
statistics, or models to answer the question.
●● Share the Story
Answer: The AMPS step where the accountant communicates the results
clearly to decision makers.
●● Executive Summary
Answer: A short summary of the most important findings, usually
written for managers or decision makers.
●● BLUF
Answer: Bottom Line Up Front; a communication style where the main
answer or conclusion is stated first.
●● Structured Data
Answer: Data that is organized into rows and columns, such as Excel
tables, databases, or financial statements.
●● Unstructured Data
Answer: Data without a predefined format, such as emails, PDFs, social
media posts, or audio recordings.
●● Data Completeness
,Answer: Making sure all needed records and fields are included before
analysis.
●● Data Accuracy
Answer: Making sure data is correct and free from mistakes before
analysis.
●● COUNT
Answer: An Excel function used to count the number of numeric entries
in a range.
●● SUM
Answer: An Excel function used to add values in a range.
●● Duplicate Check
Answer: A review used to find repeated records that may cause errors or
overstatement.
●● Blank Check
Answer: A review used to find missing values in a dataset.
●● Dynamic Workbook
, Answer: A formula-driven workbook that updates automatically when
inputs or data change.
●● Scenario Testing
Answer: Changing inputs in a workbook to see how the results change.
●● Formula-Driven Workbook
Answer: A workbook that uses formulas instead of hard-coded numbers
so it updates automatically.
●● PivotTable
Answer: An Excel tool that summarizes, groups, sorts, and filters large
amounts of raw data.
●● PivotChart
Answer: A chart connected to a PivotTable that visually displays
summarized data.
●● Dynamic Data Summarization
Answer: Using tools like PivotTables to quickly summarize data in
different ways.
●● Sorting
MODELING WITH SPREADSHEETS FINAL
PAPER TESTED QUESTIONS WITH VERIFIED
ANSWERS COMPLETE STUDY SHEET
●● Accounting Data Analytics
Answer: Using technologies, systems, practices, databases, statistics,
and applications to analyze accounting and nonaccounting data for better
business decisions.
●● AMPS Model
Answer: A framework for data analytics: Ask the Question, Master the
Data, Perform the Analysis, and Share the Story.
●● Ask the Question
Answer: The first step in AMPS where the accountant identifies the
business or accounting question that needs to be answered.
●● Master the Data
Answer: The AMPS step where the accountant finds, understands,
cleans, and prepares the data before analysis.
●● Perform the Analysis
,Answer: The AMPS step where the accountant applies tools, formulas,
statistics, or models to answer the question.
●● Share the Story
Answer: The AMPS step where the accountant communicates the results
clearly to decision makers.
●● Executive Summary
Answer: A short summary of the most important findings, usually
written for managers or decision makers.
●● BLUF
Answer: Bottom Line Up Front; a communication style where the main
answer or conclusion is stated first.
●● Structured Data
Answer: Data that is organized into rows and columns, such as Excel
tables, databases, or financial statements.
●● Unstructured Data
Answer: Data without a predefined format, such as emails, PDFs, social
media posts, or audio recordings.
●● Data Completeness
,Answer: Making sure all needed records and fields are included before
analysis.
●● Data Accuracy
Answer: Making sure data is correct and free from mistakes before
analysis.
●● COUNT
Answer: An Excel function used to count the number of numeric entries
in a range.
●● SUM
Answer: An Excel function used to add values in a range.
●● Duplicate Check
Answer: A review used to find repeated records that may cause errors or
overstatement.
●● Blank Check
Answer: A review used to find missing values in a dataset.
●● Dynamic Workbook
, Answer: A formula-driven workbook that updates automatically when
inputs or data change.
●● Scenario Testing
Answer: Changing inputs in a workbook to see how the results change.
●● Formula-Driven Workbook
Answer: A workbook that uses formulas instead of hard-coded numbers
so it updates automatically.
●● PivotTable
Answer: An Excel tool that summarizes, groups, sorts, and filters large
amounts of raw data.
●● PivotChart
Answer: A chart connected to a PivotTable that visually displays
summarized data.
●● Dynamic Data Summarization
Answer: Using tools like PivotTables to quickly summarize data in
different ways.
●● Sorting
