ACCT 301 EXAM 1 VERIFIED STUDY GUIDE
Amortization schedule - Answers - A schedule (or table) detailing each periodic
payment to ultimately pay off a loan/debt
AMPS model - Answers - A framework for performing data analytics, which includes Ask
the Question, Master the Data, Perform the Analysis, and Share the Story
Bloom's Taxonomy - Answers - A hierarchical view of thinking and learning skills
Dashboard - Answers - a graphical summary of various measures tracked by a
company
Data analytics - Answers - The process of evaluating data with the purpose of drawing
conclusions to address all types of questions, including accounting questions
Data integrity - Answers - The accuracy, validity, and consistency of data used and
stored over time. Truth in data, or how the data presents the truth of the underlying
transactions or events that occurred
Dynamic - Answers - characterized by constant update, change, or activity
information overload - Answers - Access or exposure to too much information to be able
to process
PivotTables - Answers - A tool that allows reorganization and summarization of certain
data using cross-tabulations without changing the underlying spreadsheet (or data).
Static - Answers - Characterized by the lack of constant update, change, or activity
Visualization - Answers - The representation of information as a graph, chart or other
image
10-K - Answers - A required annual submission to the Securities and Exchange
Commission reporting a company's financial performance.
10-Q - Answers - A required quarterly (every 3 months) submission to the Securities
and Exchange Commission reporting a company's financial performance.
8-K - Answers - A required submission to the Securities and Exchange Commission that
is used to notify investors of important events or announcements.
Accounting Data Analytics - Answers - The technologies, systems, practices,
methodologies, databases, statistics, and applications used to analyze diverse
, accounting and no accounting data to give organizations the information they need to
make sounds and timely business decisions
Audit - Answers - An assessment of the accounting principles used and significant
estimates made; it evaluates the overall financial statement presentation
Big Data - Answers - Datasets that are too large and complex for businesses' existing
systems (traditional capabilities) to capture, store, manage, and analyze.
Budgets - Answers - Financial plan used to prioritize the needs of an organization for an
upcoming time period
Customer Relationship Management (CRM) system - Answers - an information system
for managing all interactions with current and potential customers
Data ethics - Answers - The moral responsibility associated with gathering and
protecting data, and an understanding of how such responsibility affects individuals
Earnings call - Answers - A conference call between company management ( like a
CEO and CFO), analysts, investors, and the media to discuss earnings and other
financial results that generally precede the call
EDGAR - Answers - The Electronic Data Gathering, Analysis, and Retrieval system.
Automatically collects, validates, and indexes, and serves as a repository for all forms
submitted to the SEC
Financial accounting data - Answers - Any information external decision makers, such
as stockholders, banks, and suppliers, might use to help make decisions.
Financial Statements - Answers - A collection of reports that communicate a company's
financial results, financial condition, financial health, and its cash flows
Fixed assets - Answers - Property, plant, and equipment
General ledger - Answers - Provides the current balance of all asset, liability, equity,
revenue, and expense accounts, summarizing all of the company's transactions
Human resource management system (HRMS) - Answers - an information system for
managing all interactions with current and potential employees
Point-of-sale (POS) system - Answers - A computer system that records all transactions
at the point of sale (such as a cash register)
Press release - Answers - An official statement to the media from the company about a
specific matter
Amortization schedule - Answers - A schedule (or table) detailing each periodic
payment to ultimately pay off a loan/debt
AMPS model - Answers - A framework for performing data analytics, which includes Ask
the Question, Master the Data, Perform the Analysis, and Share the Story
Bloom's Taxonomy - Answers - A hierarchical view of thinking and learning skills
Dashboard - Answers - a graphical summary of various measures tracked by a
company
Data analytics - Answers - The process of evaluating data with the purpose of drawing
conclusions to address all types of questions, including accounting questions
Data integrity - Answers - The accuracy, validity, and consistency of data used and
stored over time. Truth in data, or how the data presents the truth of the underlying
transactions or events that occurred
Dynamic - Answers - characterized by constant update, change, or activity
information overload - Answers - Access or exposure to too much information to be able
to process
PivotTables - Answers - A tool that allows reorganization and summarization of certain
data using cross-tabulations without changing the underlying spreadsheet (or data).
Static - Answers - Characterized by the lack of constant update, change, or activity
Visualization - Answers - The representation of information as a graph, chart or other
image
10-K - Answers - A required annual submission to the Securities and Exchange
Commission reporting a company's financial performance.
10-Q - Answers - A required quarterly (every 3 months) submission to the Securities
and Exchange Commission reporting a company's financial performance.
8-K - Answers - A required submission to the Securities and Exchange Commission that
is used to notify investors of important events or announcements.
Accounting Data Analytics - Answers - The technologies, systems, practices,
methodologies, databases, statistics, and applications used to analyze diverse
, accounting and no accounting data to give organizations the information they need to
make sounds and timely business decisions
Audit - Answers - An assessment of the accounting principles used and significant
estimates made; it evaluates the overall financial statement presentation
Big Data - Answers - Datasets that are too large and complex for businesses' existing
systems (traditional capabilities) to capture, store, manage, and analyze.
Budgets - Answers - Financial plan used to prioritize the needs of an organization for an
upcoming time period
Customer Relationship Management (CRM) system - Answers - an information system
for managing all interactions with current and potential customers
Data ethics - Answers - The moral responsibility associated with gathering and
protecting data, and an understanding of how such responsibility affects individuals
Earnings call - Answers - A conference call between company management ( like a
CEO and CFO), analysts, investors, and the media to discuss earnings and other
financial results that generally precede the call
EDGAR - Answers - The Electronic Data Gathering, Analysis, and Retrieval system.
Automatically collects, validates, and indexes, and serves as a repository for all forms
submitted to the SEC
Financial accounting data - Answers - Any information external decision makers, such
as stockholders, banks, and suppliers, might use to help make decisions.
Financial Statements - Answers - A collection of reports that communicate a company's
financial results, financial condition, financial health, and its cash flows
Fixed assets - Answers - Property, plant, and equipment
General ledger - Answers - Provides the current balance of all asset, liability, equity,
revenue, and expense accounts, summarizing all of the company's transactions
Human resource management system (HRMS) - Answers - an information system for
managing all interactions with current and potential employees
Point-of-sale (POS) system - Answers - A computer system that records all transactions
at the point of sale (such as a cash register)
Press release - Answers - An official statement to the media from the company about a
specific matter
