Data Analytics for Accounting

Estimates suggest that approximately 80 percent of enterprise data is structured.

_____ is encapsulated as the technologies, systems, practices, methodologies, databases, statistics and applications used to analyze diverse accounting and non-accounting data to give organizations the information they need to make sound and timely business decisions.

Which system would be used to track sales with each customer?

Managerial accounting systems generally compare budgeted performance to actual performance.

What would be most likely to be disclosed in an 8-K filing to the SEC?

Financial statements would generally be considered to be unstructured data.

Highlighting the difference between the data which comes from blogs and pictures as compared to financial data would be examples of which aspect of Big Data?

The SEC form which reports quarterly financial statements is called form _____.

An earnings call is 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.

According to the AMPS model, the analyst should know the question they are trying to address before considering and accessing available data.

Managerial accounting systems do not have the requirement that the cost of acquiring data be less than the value of the data.

Human resource management system (HRMS) is an information system for managing all interactions with current and potential employees.

___________ represent an interactive question-and-answer session between investors, analysts, other interested shareholders and management.

Whereas ______________ would generally be considered to unstructured data, _____________ would generally be considered to be structured data.

_____________ can be used to help evaluate the supply of the product available.

In the United Kingdom (UK), financial statements for publicly traded firms are issued twice annually. In the United States (US), financial statements for publicly traded firms are issued quarterly. The difference in timing would address which aspect of Big Data?

Economic data and analysis reports do not help accountants make better, more accurate budgets and forecasts of earnings.

Social media would generally be considered to be unstructured data.

Data with greater veracity is often more impactful, carrying more weight in analysis than data with lesser veracity in addressing accounting questions.

There is more social media data than financial statement data available.