SOLUTION MANUAL for Data Analytics for Acounting 3rd Edition by Vernon Richardson,Chapters 1 - 9

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SOLUTION MANUAL for Data Analytics for Accounting,
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bg 3rd Editionby Vernon Richardson,Chapters 1 -9
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TABLE OF CONTENTS
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Chapter 1: Data Analytics for Accounting and Identifying the Questions
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Chapter 2: Mastering the Data
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Chapter 3: Performing the Test Plan and Analyzing the Results
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Chapter 4: Communicating Results and Visualizations
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Chapter 5: The Modern Accounting Environment
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Chapter 6: Audit Data Analytics
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Chapter 7: Managerial Analytics
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Chapter 8: Financial Statement Analytics
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Chapter 9: Tax Analytics
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Solutions Manual – Chapter 1 bg b g bg bg




Solutions b g to b g Multiple b g Choice b g Questions

1. (LO 1-1) Big Data is often described by the four Vs, or
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a. volume, velocity, veracity, and variability.
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b. volume, velocity, veracity, and variety.
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c. volume, volatility, veracity, and variability.
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d. variability, velocity, veracity, and variety. b g b g b g b g




Answer: b b g




2. LO 1-4) Which data approach attempts to assign each unit in a population into a
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small set of classes (or groups) where the unit best fits?
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a. Regression
b. Similarity matching b g




c. Co-occurrence grouping b g




d. Classification

Answer: d b g




3. (LO 1-4) Which data approach attempts to identify similar individuals based on data
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known about them?
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a. Classification
b. Regression
c. Similarity matching b g




d. Data reduction bg




Answer: c b g




4. (LO 1-4) Which data approach attempts to predict connections between two data items?
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a. Profiling
b. Classification
c. Link prediction b g




d. Regression




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Answer: c b g




5. (LO 1-6) Which of these terms is defined as being a central repository of descriptions
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for all of the data attributes of the dataset?
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a. Big Data b g




b. Data warehouse bg




c. Data dictionary bg




d. Data Analytics bg




Answer: c b g




6. (LO 1-5) Which skills were not emphasized that analytic-minded accountants should have?
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a. Developed an analytics mindset b g b g b g




b. Data scrubbing and data preparation
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c. Classification of test approaches b g b g b g




d. Statistical data analysis competencybg bg bg




Answer: c b g




7. (LO 1-5) In which areas were skills not emphasized for analytic-minded accountants?
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a. Data quality bg




b. Descriptive data analysis b g b g




c. Data visualization and data reporting
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d. Data and systems analysis and design
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Answer: d b g




8. (LO 1-4) The IMPACT cycle includes all except the following steps:
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a. perform test plan. bg bg




b. visualize the data. b g b g




c. master the data. bg bg




d. track outcomes. bg




Answer: b b g




9. (LO 1-4) The IMPACT cycle specifically includes all except the following steps:
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a. data preparation.
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b. communicate insights. b g



c. address and refine results.
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d. perform test plan. bg bg




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