ACB2420 Accounting Information Systems Tutorial 8
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ACB2420 Accounting Information Systems
Tutorial 8 – Data Analytics & PivotTables, PivotCharts and Slicers for FM – Suggested Solutions
Part 1: Group Activity
(Adapted from Romney et.al. (2020) Chapter Quiz pp.203)
Use the following image to answer questions (1) through (7).
1. In column 3, which of the following problems do you find?
A. Data consistency error
B. Data imputation error
C. Data contradiction error
D. Violated attribute dependencies
2. In column 5, which of the following problems do you find?
A. Data pivoting error
B. Violated attribute dependencies
C. Data consistency error
D. Cryptic values
3. In column 7, row 1, which of the following problems do you find?
A. Data consistency error
B. Data parsing error
C. Data threshold violation
D. Misfielded data values
4. In row 8 and row 9, which of the following problems do you find?
A. Data contradiction error
B. Data concatenation error
C. Data aggregation error
D. Duplicate values
5. In column 2, row 7, which of the following problems do you find?
A. Data threshold error
B. Data entry error
C. Violated attribute dependencies
D. Dichotomous variable problem
6. Column 4, row 12, is most likely an example of which of the following?
A. Data imputation
B. Crytic data value
C. Violated attribute dependencies
D. Listing the date in serial date format
7. Which of the following could be used to catch the problems listed in the image?
A. Visual inspection
B. Basic statistical tests
C. Auditing a sample
D. All of the above
Exercise 2 (Adapted from Romney et.al. (2020) DQ7.3 p.237)
In what circumstances is data visualisation better than using text explanations and tables of numeric data? In what situations is it worse? Justify your reasoning.
As discussed in the chapter, data visualisation can help individuals process data faster, is easier to use, and supports how most people learn. Data visualisation is useful for quickly gaining an understanding of data and a topic and communicating the results to others. Data visualization can be less useful when someone might interpret the information in a different way than intended or when a process is very complex and has much nuance. In these cases, it can be superior to use text explanations or numeric data.
Part 2: PivotTables, PivotCharts and Slicer for FM
(Self Exploration)
Part 3: Questions to complete at home (Good revision questions for your final exam)
Exercise 1 (Adapted from Romney et.al. (2020) DQ6.2 pp.204)
Fill in the table below by discussing a business scenario that would be harmed if data did not have the data attribute.
|
Attribute |
Problematic Business Scenario |
|
Accurate |
When companies prepare financial statements, if the underlying data is not accurate the company can be forced to restate their financial statements. This can cause the company’s share price to drop significantly and can lead to job loss for executives, the auditor, and others. |
|
Complete |
When filing tax forms, if a CPA does not include all the necessary data in the tax forms the individual/business can face significant fines from the government. |
|
Consistent |
Multinational companies collect cash in many currencies. Before making calculations, it is important to make sure that all amounts are consistent in that they are denominated in the same currency. |
|
Timely |
When making decisions about pricing products, having timely performance data about past product sales and current inventory levels is very important to avoid stock outs and carrying too much inventory. |
|
Valid |
Auditors rely on their tests of company data. If the data is not valid, they are not able to come to an appropriate conclusion and issue a proper audit report. |
Exercise 2 (Adapted from Romney et.al. (2020) DQ7.1 pp.237)
Fill in the table below by describing one analytic for each analytic type that the business
function could perform
|
|
Descriptive |
Diagnostic |
Predictive |
Prescriptive |
|
Accounting and Finance |
Accounting ratios such as gross margin or return on investment |
Examine which factors increase overhead |
Predict bad debt expense |
Automatically calculate foreign currency exposure and execute hedging contracts to cover the exposure |
|
Information Technology |
Compute number of cyber attacks against computer system |
Examine factors that increase time to resolve IT issues |
Predict the life of servers so they can plan for replacement. |
Predict website traffic and automatically allocate more bandwidth to high traffic websites |
2023-02-20
Data Analytics & PivotTables, PivotCharts and Slicers for FM