会计数据分析 Solutions_Manual Chapter_1_EOC_SM_Updated.docx

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会计数据分析 Solutions_Manual Chapter_1_EOC_SM_Updated.docx

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SolutionsManual–Chapter1

SolutionstoDiscussionQuestions

Dataanalyticsisdefinedastheprocessofevaluatingdata?withthepurposeofdrawingconclusionstoaddressbusinessquestions.Indeed,effectiveDataAnalyticsprovidesawaytosearchthroughlargestructuredandunstructureddatatoidentifyunknownpatternsorrelationships.

Auniversitymightlearnfromtheanalyzingthedemographicsofitscurrentsetofstudentsinordertoattractitsfuturestudentrecruits.Didtheycomefromcitiesorhighschoolsthatwerecloseby?Weretheirparentsalumnioftheuniversity?DidtheyscorehighoncertainpartsoftheACT?Werethoseofferedascholarshipmorelikelytoattend,etc.?Wassocialmediaeffectiveinattractingstudents?Byanalyzingthistypeofdata,previouslyunknownpatternswillemergethatwillmakerecruitingstudentsmoreeffective.

Therearemanypotentialanswers.Forexample,Monsantomayusemathematicalandstatisticalmodelstoplotoutthebesttimestoplantbothmaleandfemaleplansandwheretoplantthemtomaximizeyield.(/article/3221621/analytics/6-data-analytics-success-stories-an-inside-look.html#tk.cio_rs)

Therearemanypotentialanswers.Accountantsmightusedataanalyticstolearnmoreabouttheirallowancefordoubtfulaccountsbylearningwhichcustomerspayordonotpaytheirreceivablebalancesonatimelybasis.Thiswillhelpmakeamoreaccuratebalanceofnetreceivables.

Therearemanypotentialanswers.Forexample,dataanalyticsassociatedwithfinancialreportingmayhelpaccountantsdetermineifanyoftheirinventoryobsolete?Itmayalsohelpthecompanybenchmarkonthefinancialstatementsandfinancialreportingofothersimilarcompaniesandunderstandtheiraccountingpracticestohelpinfertheirown.

Theimpactcyclesuggestsanorderof1)IdentifyingtheQuestions;2)MasteringtheData;3)Performingthetestplan;4)Addressingandrefiningresults;5)Communicatinginsightsand