f4 RRRR
Solution Manual
f4 f4
for Data and Analytics in Accounting An Integrated Approach 1e Ann C.
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
f4 Dzuranin, Guido Geerts, Margarita Lenk
f4 f4 f4 f4
Prose1 Stuvia
f4
,https://www.stuvia.com/user/Prose1
CHAPTER 1 f4
DATA AND ANALYTICS IN THE ACCOUNTING
f4 f4 f4 f4 f4
PROFESSION f4
Learning Objectives: f4
LO 1.1: Summarize how advances in data and technology are impacting accounting professionals.
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
LO 1.2: Describe the stages of the data analysis process.
f4 f4 f 4 f4 f4 f4 f4 f4 f4 f4
LO 1.3: Identify the skills necessary to perform data analysis.
f4 f 4 f4 f4 f4 f4 f4 f4 f4
LO 1.4: Explain how to apply a data analytics mindset during the data analysis process.
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
ANSWERS TO MULTIPLE CHOICE QUESTIONS f4 f4 f4 f4
LO f41.2, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f42 f4min, f4AACSB: f4Knowledge, f4AICPA f4FC:
1. f 4 A f 4 Leverage f4 Technology f 4 to f 4 Develop f4and f4 Enhance f4 Functional f4 Competencies
LO f 4 1.1, f 4 BT: f 4 K, f 4 Difficulty: f 4 Easy, f 4 TOT: f 4 2 f 4 min, f 4 AACSB:
f 4 Knowledge, f 4 AICPA f 4 FC: f 4 Leverage f4Technology f4to f4Develop f4and
f4Enhance f4Functional f4Competencies
7. f 4 D
LO f41.2, f4BT: f4C, f4Difficulty: f4Medium, f4TOT: f43 f4min, f4AACSB: f4Analytic, f4AICPA f4FC:
2. f 4 C f 4 Leverage f4 Technology f 4 to f 4 Develop f4 and f4 Enhance f4 Functional f4 Competencies
LO f41.1, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f42 f4min, f4AACSB: f4Knowledge, f4AICPA
f4FC: f 4 Leverage f4 Technology f4 to f 4 Develop f4 and f4 Enhance f4 Functional
8. f 4 C
f4 Competencies
LO f41.2, f4BT: f4C, f4Difficulty: f4Medium, f4TOT: f43 f4min, f4AACSB: f4Analytic, f4AICPA f4FC:
f 4 Leverage f4 Technology f 4 to f 4 Develop f4and f4 Enhance f4 Functional f4 Competencies
3. f 4 C
LO f41.2, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f42 f4min, f4AACSB: f4Knowledge, f4AICPA 9. f 4 A
f4FC: f 4 Leverage f4 Technology f4 to f 4 Develop f4and f4 Enhance f4 Functional
LO f41.3, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f42 f4min, f4AACSB: f4Knowledge, f4AICPA
f4 Competencies
f4FC: f 4 Leverage f4 Technology f 4 to f4 Develop f4and f4 Enhance f4 Functional
f4 Competencies
4. f 4 B
LO f41 f42, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f42 f4min, f4AACSB: f4Knowledge, f4AICPA 10.D
f4FC: f 4 Leverage f4 Technology f4 to f 4 Develop f4 and f4 Enhance f4 Functional
LO f41.3, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f42 f4min, f4AACSB: f4Knowledge, f4AICPA f4FC:
f4 Competencies
f 4 Leverage f4 Technology f 4 to f4 Develop f4 and f4 Enhance f4 Functional f 4 Competencies
5. f 4 B 11.B
LO f41.2, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f42 f4min, f4AACSB: f4Knowledge, f4AICPA
f4FC: f 4 Leverage f4 Technology f4 to f 4 Develop f4 and f4 Enhance f4 Functional
f4 Competencies
6. f 4 f 4 C
https://www.stuvia.com/user/Prose
1-1
, LO f41.3, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f42 f4min, f4AACSB: f4Knowledge, f4AICPA
f4FC: f 4 Leverage f4 Technology f 4 to f4 Develop f4and f4 Enhance f4 Functional
14.A
f4 Competencies
LO f41.4, f4BT: f4C, f4Difficulty: f4Medium, f4TOT: f43 f4min, f4AACSB: f4Analytic, f4AICPA f4FC:
f 4 Leverage f4 Technology f 4 to f 4 Develop f4and f4 Enhance f4 Functional f4 Competencies
12.A
LO f41.4, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f42 f4min, f4AACSB: f4Knowledge, f4AICPA
15.B
f4FC: f 4 Leverage f4 Technology f 4 to f4 Develop f4and f4 Enhance f4 Functional
LO f41.4, f4BT: f4C, f4Difficulty: f4Medium, f4TOT: f43 f4min, f4AACSB: f4Analytic, f4AICPA f4FC:
f 4 Leverage f4 Technology f 4 to f 4 Develop f4 and f4 Enhance f4 Functional f4 Competencies
f4 Competencies
13.D
LO f41.4, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f42 f4min, f4AACSB: f4Knowledge, f4AICPA
f4FC: f 4 Leverage f4 Technology f 4 to f4 Develop f4and f4 Enhance f4 Functional
f4 Competencies
ANSWERS TO REVIEW QUESTIONS f4 f4 f4
1. Both the CPA exam and the CMA exam have added data analytic content to their exams. This is in
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
response to what new professionals need to know as they enter the accounting profession. The
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
CPA Exam Evolution is a strong indication of how the accounting profession is changing. The new CPA
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
exam will have more technology and data analytics questions in the Core exam, as well as the
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
Discipline exams.
f4 f4
LO f41.1, f4BT: f4K, f4Difficulty: f4Easy,f4TOT: f46f4min, f4AACSB: f4Knowledge, f4AICPA f4FC: f4Leverage f4Technology f4to f4Develop f4and f4Enhance f4Functional f4Competencies
2.
Changes Accounting Practice Area f4 f4
1. Ability to use entire data sets to identify
f4 f4 f4 f4 f4 f4 f4 f4 ANS: a. Auditing, c. Managerial accounting
f4 f4 f4 f4 f4
exceptions, anomalies, and outliers
f4 f4 f4 f4
2. Automation of manual processes
f4 f4 f4 f4 ANS: a., b., c., d. (All areas)
f4 f4 f4 f4 f 4 f4
3. Automation of journal entries
f4 f4 f4 f4 ANS: b. Financial accounting
f 4 f4 f4
4. Risk identification
f 4 f4 ANS:. a. Auditing, c. Managerial accounting
f 4 f4 f4 f4 f4
5. Forecasting
f4 ANS: b. Financial accounting, c. Managerial
f4 f4 f4 f4 f4
accounting
f4
6. Compliance reporting
f4 f4 ANS: d. Tax accounting
f4 f4 f4
LO f41.1, f4BT: f4C,f4Difficulty: f4Medium, f4TOT: f48 f4min, f4AACSB: f4Analytic, f4AICPA f4FC: f4Leverage f4Technology f4to f4Develop f4and f4Enhance f4Functional f4Competencies
3. Data are raw facts and figures. Technology helps covert that data into information. Information is
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
the knowledge gained from analyzing the data.
f4 f4 f4 f4 f4 f4 f4
LO f41.1, f4BT: f4C,f4Difficulty: f4Medium, f4TOT: f46 f4min, f4AACSB: f4Analytic, f4AICPA f4FC: f4Leverage f4Technology f4to f4Develop f4and f4Enhance f4Functional f4Competencies
4.
Purpose Method
1-2
, 1. Understanding what is happening currently
f4 f4 f4 f4 f4 ANS: a. Descriptive f4 f4
and what has happened in the past.
f4 f4 f4 f4 f4 f4 f4
2. Understanding what should happen to meet
f4 f4 f4 f4 f4 f4 ANS: d. Prescriptive f4 f4
our goals and objectives.
f4 f4 f4 f4
3. Understanding what might happen in the
f4 f4 f4 f4 f4 f4 ANS: c. Prescriptive f4 f4
future.
f4
4. Understanding why something happened.
f4 f4 f4 f4 ANS: b. Diagnostic f4 f4
LO f41.2, f4BT: f4C,f4Difficulty: f4Medium, f4TOT: f46 f4min, f4AACSB: f4Analytic, f4AICPA f4FC: f4Leverage f4Technology f4to f4Develop f4and f4Enhance f4Functional f4Competencies
5. The first step is to identify the motivation for the analysis. The motivation for a project is the why
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
the analysis is being performed. It is important to understand the reason for the analysis before
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
beginning the analysis.
f4 f4 f4
The second step is to set an objective. In other words, “What is the goal of the analysis?” This step will
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
help articulate the goal and specific questions that will be analyzed.
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
The third step is to develop a strategy. In this step, we determine the data and analysis methods
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
necessary to achieve the project’s goal.
f4 f4 f4 f4 f4 f4
LO f41.2, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f48 f4min, f4AACSB: f4Knowledge, f4AICPA f4FC: f4Leverage f4Technology f4to f4Develop f4and f4Enhance f4Functional f4Competencies
6. Extracting is the process in which data is retrieved from a source. This could involve downloading
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
an Excel file or extracting data from a database or a data warehouse.
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
Transforming the data occurs when data is cleaned, restructured, and/or integrated prior to using it for
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
analysis.
f4
Loading data is the process of importing transformed data into the software used to perform analyses.
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
LO f41.2, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f48 f4min, f4AACSB: f4Knowledge, f4AICPA f4FC: f4Leverage f4Technology f4to f4Develop f4and f4Enhance f4Functional f4Competencies
7.
Example Data Analysis Process Stage
f4 f4 f4
1. Develop a model to calculate contribution
f4 f4 f4 f4 f4 f4 ANS: b. Analyze f4 f4
margin.
f4
2. Get data from a database.
f4 f4 f4 f4 f4 ANS: b. Analyze f4 f4
3. Upload data into analysis software.
f4 f4 f4 f4 f4 ANS:b. Analyze f4
4. Determine the objective of the analysis.
f4 f4 f4 f4 f4 f4 ANS: a. Plan f4 f4
5. Create a forecast of net income.
f4 f4 f4 f4 f4 f4 ANS: b. Analyze f4 f4
6. Identify the data needed for analysis.
f4 f4 f4 f4 f4 f4 ANS: a. Plan f4 f4
7. Identify relationships within the data.
f4 f4 f4 f4 f4 ANS: b. Analyze f4 f4
8. Create a visualization to show the results of
f4 f4 f4 f4 f4 f4 f4 f4 ANS: c. Report f4 f4
the analyses.
f4 f4
9. Identify sales patterns.
f4 f4 f4 ANS: b. Analyze f4 f4
1-3
Solution Manual
f4 f4
for Data and Analytics in Accounting An Integrated Approach 1e Ann C.
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
f4 Dzuranin, Guido Geerts, Margarita Lenk
f4 f4 f4 f4
Prose1 Stuvia
f4
,https://www.stuvia.com/user/Prose1
CHAPTER 1 f4
DATA AND ANALYTICS IN THE ACCOUNTING
f4 f4 f4 f4 f4
PROFESSION f4
Learning Objectives: f4
LO 1.1: Summarize how advances in data and technology are impacting accounting professionals.
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
LO 1.2: Describe the stages of the data analysis process.
f4 f4 f 4 f4 f4 f4 f4 f4 f4 f4
LO 1.3: Identify the skills necessary to perform data analysis.
f4 f 4 f4 f4 f4 f4 f4 f4 f4
LO 1.4: Explain how to apply a data analytics mindset during the data analysis process.
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
ANSWERS TO MULTIPLE CHOICE QUESTIONS f4 f4 f4 f4
LO f41.2, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f42 f4min, f4AACSB: f4Knowledge, f4AICPA f4FC:
1. f 4 A f 4 Leverage f4 Technology f 4 to f 4 Develop f4and f4 Enhance f4 Functional f4 Competencies
LO f 4 1.1, f 4 BT: f 4 K, f 4 Difficulty: f 4 Easy, f 4 TOT: f 4 2 f 4 min, f 4 AACSB:
f 4 Knowledge, f 4 AICPA f 4 FC: f 4 Leverage f4Technology f4to f4Develop f4and
f4Enhance f4Functional f4Competencies
7. f 4 D
LO f41.2, f4BT: f4C, f4Difficulty: f4Medium, f4TOT: f43 f4min, f4AACSB: f4Analytic, f4AICPA f4FC:
2. f 4 C f 4 Leverage f4 Technology f 4 to f 4 Develop f4 and f4 Enhance f4 Functional f4 Competencies
LO f41.1, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f42 f4min, f4AACSB: f4Knowledge, f4AICPA
f4FC: f 4 Leverage f4 Technology f4 to f 4 Develop f4 and f4 Enhance f4 Functional
8. f 4 C
f4 Competencies
LO f41.2, f4BT: f4C, f4Difficulty: f4Medium, f4TOT: f43 f4min, f4AACSB: f4Analytic, f4AICPA f4FC:
f 4 Leverage f4 Technology f 4 to f 4 Develop f4and f4 Enhance f4 Functional f4 Competencies
3. f 4 C
LO f41.2, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f42 f4min, f4AACSB: f4Knowledge, f4AICPA 9. f 4 A
f4FC: f 4 Leverage f4 Technology f4 to f 4 Develop f4and f4 Enhance f4 Functional
LO f41.3, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f42 f4min, f4AACSB: f4Knowledge, f4AICPA
f4 Competencies
f4FC: f 4 Leverage f4 Technology f 4 to f4 Develop f4and f4 Enhance f4 Functional
f4 Competencies
4. f 4 B
LO f41 f42, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f42 f4min, f4AACSB: f4Knowledge, f4AICPA 10.D
f4FC: f 4 Leverage f4 Technology f4 to f 4 Develop f4 and f4 Enhance f4 Functional
LO f41.3, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f42 f4min, f4AACSB: f4Knowledge, f4AICPA f4FC:
f4 Competencies
f 4 Leverage f4 Technology f 4 to f4 Develop f4 and f4 Enhance f4 Functional f 4 Competencies
5. f 4 B 11.B
LO f41.2, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f42 f4min, f4AACSB: f4Knowledge, f4AICPA
f4FC: f 4 Leverage f4 Technology f4 to f 4 Develop f4 and f4 Enhance f4 Functional
f4 Competencies
6. f 4 f 4 C
https://www.stuvia.com/user/Prose
1-1
, LO f41.3, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f42 f4min, f4AACSB: f4Knowledge, f4AICPA
f4FC: f 4 Leverage f4 Technology f 4 to f4 Develop f4and f4 Enhance f4 Functional
14.A
f4 Competencies
LO f41.4, f4BT: f4C, f4Difficulty: f4Medium, f4TOT: f43 f4min, f4AACSB: f4Analytic, f4AICPA f4FC:
f 4 Leverage f4 Technology f 4 to f 4 Develop f4and f4 Enhance f4 Functional f4 Competencies
12.A
LO f41.4, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f42 f4min, f4AACSB: f4Knowledge, f4AICPA
15.B
f4FC: f 4 Leverage f4 Technology f 4 to f4 Develop f4and f4 Enhance f4 Functional
LO f41.4, f4BT: f4C, f4Difficulty: f4Medium, f4TOT: f43 f4min, f4AACSB: f4Analytic, f4AICPA f4FC:
f 4 Leverage f4 Technology f 4 to f 4 Develop f4 and f4 Enhance f4 Functional f4 Competencies
f4 Competencies
13.D
LO f41.4, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f42 f4min, f4AACSB: f4Knowledge, f4AICPA
f4FC: f 4 Leverage f4 Technology f 4 to f4 Develop f4and f4 Enhance f4 Functional
f4 Competencies
ANSWERS TO REVIEW QUESTIONS f4 f4 f4
1. Both the CPA exam and the CMA exam have added data analytic content to their exams. This is in
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
response to what new professionals need to know as they enter the accounting profession. The
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
CPA Exam Evolution is a strong indication of how the accounting profession is changing. The new CPA
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
exam will have more technology and data analytics questions in the Core exam, as well as the
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
Discipline exams.
f4 f4
LO f41.1, f4BT: f4K, f4Difficulty: f4Easy,f4TOT: f46f4min, f4AACSB: f4Knowledge, f4AICPA f4FC: f4Leverage f4Technology f4to f4Develop f4and f4Enhance f4Functional f4Competencies
2.
Changes Accounting Practice Area f4 f4
1. Ability to use entire data sets to identify
f4 f4 f4 f4 f4 f4 f4 f4 ANS: a. Auditing, c. Managerial accounting
f4 f4 f4 f4 f4
exceptions, anomalies, and outliers
f4 f4 f4 f4
2. Automation of manual processes
f4 f4 f4 f4 ANS: a., b., c., d. (All areas)
f4 f4 f4 f4 f 4 f4
3. Automation of journal entries
f4 f4 f4 f4 ANS: b. Financial accounting
f 4 f4 f4
4. Risk identification
f 4 f4 ANS:. a. Auditing, c. Managerial accounting
f 4 f4 f4 f4 f4
5. Forecasting
f4 ANS: b. Financial accounting, c. Managerial
f4 f4 f4 f4 f4
accounting
f4
6. Compliance reporting
f4 f4 ANS: d. Tax accounting
f4 f4 f4
LO f41.1, f4BT: f4C,f4Difficulty: f4Medium, f4TOT: f48 f4min, f4AACSB: f4Analytic, f4AICPA f4FC: f4Leverage f4Technology f4to f4Develop f4and f4Enhance f4Functional f4Competencies
3. Data are raw facts and figures. Technology helps covert that data into information. Information is
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
the knowledge gained from analyzing the data.
f4 f4 f4 f4 f4 f4 f4
LO f41.1, f4BT: f4C,f4Difficulty: f4Medium, f4TOT: f46 f4min, f4AACSB: f4Analytic, f4AICPA f4FC: f4Leverage f4Technology f4to f4Develop f4and f4Enhance f4Functional f4Competencies
4.
Purpose Method
1-2
, 1. Understanding what is happening currently
f4 f4 f4 f4 f4 ANS: a. Descriptive f4 f4
and what has happened in the past.
f4 f4 f4 f4 f4 f4 f4
2. Understanding what should happen to meet
f4 f4 f4 f4 f4 f4 ANS: d. Prescriptive f4 f4
our goals and objectives.
f4 f4 f4 f4
3. Understanding what might happen in the
f4 f4 f4 f4 f4 f4 ANS: c. Prescriptive f4 f4
future.
f4
4. Understanding why something happened.
f4 f4 f4 f4 ANS: b. Diagnostic f4 f4
LO f41.2, f4BT: f4C,f4Difficulty: f4Medium, f4TOT: f46 f4min, f4AACSB: f4Analytic, f4AICPA f4FC: f4Leverage f4Technology f4to f4Develop f4and f4Enhance f4Functional f4Competencies
5. The first step is to identify the motivation for the analysis. The motivation for a project is the why
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
the analysis is being performed. It is important to understand the reason for the analysis before
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
beginning the analysis.
f4 f4 f4
The second step is to set an objective. In other words, “What is the goal of the analysis?” This step will
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
help articulate the goal and specific questions that will be analyzed.
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
The third step is to develop a strategy. In this step, we determine the data and analysis methods
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
necessary to achieve the project’s goal.
f4 f4 f4 f4 f4 f4
LO f41.2, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f48 f4min, f4AACSB: f4Knowledge, f4AICPA f4FC: f4Leverage f4Technology f4to f4Develop f4and f4Enhance f4Functional f4Competencies
6. Extracting is the process in which data is retrieved from a source. This could involve downloading
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
an Excel file or extracting data from a database or a data warehouse.
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
Transforming the data occurs when data is cleaned, restructured, and/or integrated prior to using it for
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
analysis.
f4
Loading data is the process of importing transformed data into the software used to perform analyses.
f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4 f4
LO f41.2, f4BT: f4K, f4Difficulty: f4Easy, f4TOT: f48 f4min, f4AACSB: f4Knowledge, f4AICPA f4FC: f4Leverage f4Technology f4to f4Develop f4and f4Enhance f4Functional f4Competencies
7.
Example Data Analysis Process Stage
f4 f4 f4
1. Develop a model to calculate contribution
f4 f4 f4 f4 f4 f4 ANS: b. Analyze f4 f4
margin.
f4
2. Get data from a database.
f4 f4 f4 f4 f4 ANS: b. Analyze f4 f4
3. Upload data into analysis software.
f4 f4 f4 f4 f4 ANS:b. Analyze f4
4. Determine the objective of the analysis.
f4 f4 f4 f4 f4 f4 ANS: a. Plan f4 f4
5. Create a forecast of net income.
f4 f4 f4 f4 f4 f4 ANS: b. Analyze f4 f4
6. Identify the data needed for analysis.
f4 f4 f4 f4 f4 f4 ANS: a. Plan f4 f4
7. Identify relationships within the data.
f4 f4 f4 f4 f4 ANS: b. Analyze f4 f4
8. Create a visualization to show the results of
f4 f4 f4 f4 f4 f4 f4 f4 ANS: c. Report f4 f4
the analyses.
f4 f4
9. Identify sales patterns.
f4 f4 f4 ANS: b. Analyze f4 f4
1-3
