Data Analytics for Accountants
Final Exam
Course Introduction
Data Analytics for Accountants explores the fundamental concepts and practical applications of data analytics within the accounting profession. This course equips students with skills to collect, analyze, and interpret large data sets to uncover trends, detect anomalies, and support evidence-based decision-making in auditing, financial reporting, and management accounting. Emphasizing industry-relevant tools such as Excel, SQL, and data visualization software, students learn how analytics enhances accuracy, efficiency, and strategic insight in a rapidly evolving business environment. Ethical considerations and real-world case studies demonstrate the transformative role of data analytics in modern accounting practices.
Recommended Textbook
Accounting Information Systems 14th Edition by Marshall B. Romney
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2238 Flashcards
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Chapter 1: Conceptual Foundations of Accounting Information Systems
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Sample Questions
Q1) Discuss the components of a supply chain.
Answer: The supply chain shows how an organization interacts with suppliers,distributors,and customers to provide value in the products it sells.The supply chain depicts the creation and sale of a product-the chain is somewhat different when a service is involved.The supply chain has five components: raw materials;manufacturer;distributor;retailer;and the consumer.Raw materials come from any number of suppliers,which in turn become part of a manufacturing process,which produces a product.The business then provides the product to distributors,who in turn sell the product to retail businesses.The product is ultimately purchased and used by consumers (who may be individuals or businesses).It is important to realize that AIS can greatly impact the traditional supply chain by creating a more efficient and timely environment in which a business can operate.More efficient operations are more effective,which in turn lowers costs,and add greater value and create improved customer satisfaction.
Q2) What is the purpose behind the five primary activities in the value chain?
Answer: The goal of the five primary activities in the value chain is to facilitate the business in providing value to its customers.The five primary activities allow the business to create,market,and deliver its products and services to its customers,as well as providing postsale support.
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Chapter 2: Overview of Transaction Processing and Enterprise Resource Planning Systems
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Sample Questions
Q1) All of the following are disadvantages of an ERP system except A)an ERP provides an integrated view of the organization's data.
B)ERP software and hardware can cost midsized companies between $10 million and $20 million dollars.
C)ERPs frequently cause organizations to change their business processes to standardized ones.
D)ERPs are relatively complex.
Answer: A
Q2) Antia Carmie is the largest collector and retailer of Japanese fans in the St.Louis area.Antia uses computer technology to provide superior customer service.The store's database system was designed to make detailed information about each Japanese fan easily accessible to her customers.Accordingly,the fan price and condition are provided for each fan,along with many pictures of each fan.In Antia's database,the price of the Japanese fans is a(n)
A)entity.
B)attribute.
C)field.
D)record.
Answer: B
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Chapter 3: Systems Documentation Techniques
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Sample Questions
Q1) Describe a system flowchart.Describe a program flowchart.How are the two interrelated?
Answer: Systems flowcharts depict the relationships among the input,processing,and output of an AIS.The program flowchart illustrates the sequence of logical operations performed by a computer in executing a program.System flowcharts identify processing areas but do not show how the processing is done.The detailed logic used by the computer to perform the processing is shown on a separate program flowchart.
Q2) A data flow diagram
A)is a graphical description of the source and destination of data that shows how data flow within an organization.
B)is a graphical description of the flow of documents and information between departments or areas of responsibility.
C)is a graphical description of the relationship among the input,processing,and output in an information system.
D)is a graphical description of the sequence of logical operations that a computer performs as it executes a program.
Answer: A
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Chapter 4: Relational Databases
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Sample Questions
Q1) Reports produced using the data dictionary could include all of the following except a list of
A)programs where a data item is used.
B)synonyms for the data items in a particular file.
C)outputs where a data element is used.
D)the schemas included in a database.
Q2) Identify the statement below that is false with regards to basic requirements of a relational database model.
A)Primary keys can be null.
B)Foreign keys,if not null,must have values that correspond to the value of a primary key in another table.
C)All non-key attributes in a table should describe a characteristic about the object identified by the primary key.
D)Every column in a row must be single-valued.
Q3) Which statement is true regarding file systems?
A)Transaction files are similar to ledgers in a manual AIS.
B)Multiple master files create problems with data consistency.
C)Transaction files are permanent.
D)Individual records are never deleted in a master file.
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Chapter 5: Computer Fraud
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Sample Questions
Q1) Most fraud perpetrators have previous criminal record;they were dishonest and disrespected members of their community.
A)True
B)False
Q2) What are the actions recommended by the Treadway Commission to reduce the possibility of fraudulent financial reporting?
Q3) One fraudulent scheme covers up a theft by creating cash through the transfer of money between banks.This is known as A)lapping.
B)misappropriation of assets.
C)kiting.
D)concealment.
Q4) The simplest and most common way to commit a computer fraud is to A)alter computer input.
B)alter computer output.
C)modify the processing.
D)corrupt the database.
Q5) What characteristics must be presented for an act to be considered fraudulent? Give an example to support your answer.
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Chapter 6: Computer Fraud and Abuse Techniques
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Sample Questions
Q1) Computer fraud perpetrators that modify programs during systems development,allowing access into the system that bypasses normal system controls are using
A)a Trojan horse.
B)a trap door.
C)the salami technique.
D)superzapping.
Q2) Which of the following websites likely poses the most fraud and security risk?
A)Your school's website
B)A file sharing website
C)A social media website
D)Your personal website
Q3) What is social engineering? Provide an example.
Q4) Using computer technology to harm another person is known as A)pharming.
B)cyber-bullying.
C)hacking.
D)vishing.
Q5) Describe at least four social engineering techniques.Provide an example for one of the techniques.
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Chapter 7: Control and Accounting Information Systems
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Sample Questions
Q1) A(n)________ measures company progress by comparing actual performance to planned performance.
A)boundary system
B)diagnostic control system
C)interactive control system
D)belief system
Q2) As a result of an internal risk assessment,Berryhill Insurance decided it was no longer profitable to provide flood insurance in the southern states.Berryhill apparently chose to ________ the risk of paying flood claims in the southern states.
A)reduce
B)share
C)avoid
D)accept
Q3) Describe the reasons organizations have not adequately protected data.
Q4) The first step of the risk assessment process is generally to
A)identify controls to reduce all risk to zero.
B)estimate the exposure from negative events.
C)identify the threats that the company currently faces.
D)estimate the risk probability of negative events occurring.
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Chapter 8: Controls for Information Security
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Sample Questions
Q1) Which of the following is not a step in an organization's incident response process?
A)Recognition.
B)Recovery.
C)Isolation.
D)Containment.
Q2) The most important element of any preventive control is
A)the people.
B)the performance.
C)the procedure(s).
D)the penalty.
Q3) The most effective method for protecting an organization from social engineering attacks is providing
A)a firewall.
B)stateful packet filtering.
C)a demilitarized zone.
D)employee awareness training.
Q4) Describe the three types of detective controls that enable organizations timely detection of intrusions and problems.
Q5) Describe the differences between virtualization and cloud computing.
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Chapter 9: Confidentiality and Privacy Controls
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Sample Questions
Q1) Which of the following is not one of the 10 internationally recognized best practices for protecting the privacy of customers' personal information?
A)Provide free credit report monitoring for customers.
B)Inform customers of the option to opt-out of data collection and use of their personal information.
C)Allow customers' browsers to decline to accept cookies.
D)Utilize controls to prevent unauthorized access to,and disclosure of,customers' information.
Q2) If an organization asks you to disclose your social security number,but fails to tell you about its privacy policies and practices,the organization has likely violated which of the Generally Accepted Privacy Principles?
A)Management.
B)Notice.
C)Choice and consent.
D)Use and retention.
Q3) The creation of a digital signature is a two-step process.
A)True
B)False
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Chapter 10: Processing Integrity and Availability Controls
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Sample Questions
Q1) Which of the following data entry controls would not be useful if you are recording the checkout of library books by members?
A)Sequence check.
B)Prompting.
C)Validity check.
D)Concurrent update control.
Q2) A ________ determines the correctness of the logical relationship between two data items.
A)range check
B)reasonableness test
C)sign check
D)size check
Q3) A ________ ensures input data will fit into the assigned field.
A)limit check
B)size check
C)range check
D)field check
Q4) The recovery point objective is inversely related to the frequency of backups.
A)True
B)False
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Chapter 11: Auditing Computer-Based Information Systems
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Sample Questions
Q1) Describe the disadvantages of test data processing.
Q2) A type of software that auditors can use to analyze program logic and detect unexecuted program code is
A)an audit log.
B)a mapping program.
C)a scanning routine.
D)program tracing.
Q3) Increasing the effectiveness of auditing software will
A)reduce detection risk.
B)reduce control risk.
C)increase detection risk.
D)increase control risk.
Q4) Strong ________ controls can partially compensate for inadequate ________ controls.
A)development;processing
B)processing;development
C)operational;internal
D)internal;operational
Q5) Describe some of the important uses of CAATs.
Q6) Explain the differences between each type of audit risk.
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Chapter 12: The Revenue Cycle: Sales to Cash Collections
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Q1) An ________ is an arrangement where a bank receives customer payments and transmits payment data to the organization.
A)e-commerce
B)electronic funds transfer (EFT)
C)electronic lockbox
D)electronic data interchange (EDI)
Q2) A picking ticket is generated by the A)shipping process.
B)sales order entry process.
C)packing process.
D)billing process.
Q3) Research suggests which of the following is key to improving total customer satisfaction?
A)price of product
B)speed of shipping
C)quality and nature of customer contact after the sale
D)quality and nature of customer contact before the sale
Q4) Shipping efficiency can often be improved by replacing RFID tags with bar codes.
A)True
B)False
Page 14
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Chapter 13: The Expenditure Cycle: Purchasing to Cash
Disbursements
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Sample Questions
Q1) An important control that can be used to reduce the risk of employee kickbacks is A)surveillance cameras.
B)job rotation.
C)off-site restrooms.
D)use of ID badges.
Q2) What is not an advantage of using disbursement vouchers?
A)Disbursement vouchers reduce the number of checks written.
B)Disbursement vouchers can be prenumbered which simplifies the tracking of all payables.
C)Disbursement vouchers facilitate separating the time of invoice approval from the time of invoice payment.
D)There are no disadvantages to using disbursement vouchers.
Q3) Vendor invoices are approved by the ________,which reports to the ________.
A)purchasing department;controller
B)accounts payable department;treasurer
C)purchasing department;treasurer
D)accounts payable department;controller
Q4) Identify possible problems associated with receiving goods and appropriate actions in response to the problems.
Page 15
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Chapter 14: The Production Cycle
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Sample Questions
Q1) Discuss the role the accountant can play in the production cycle.
Q2) "Push manufacturing" is also known as
A)manufacturing resource planning (MRP).
B)just-in-time manufacturing system (JIT).
C)the economic order quantity (EOQ)system.
D)ahead-of-time production implementation (ATPI).
Q3) What issue did Airbus encounter when using CAD software to help design the A380 Superjumbo airliner?
A)The actual A380 was heavier than the CAD model.
B)The actual A380 was not able to carry as much weight as the CAD model.
C)Design teams used different versions of the same CAD software,resulting in key information loss.
D)The CAD software was not advanced enough to help design the A380.
Q4) In activity-based costing,expenses associated with the purchase of health care insurance for employees are ________ overhead.
A)batch-related
B)product-related
C)company wide
D)expenditure-based
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Chapter 15: The Human Resources Management and Payroll Cycle
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Sample Questions
Q1) The threat of violation of employment laws relates directly to which activity?
A)Payroll processing.
B)The collection employee time data.
C)Hiring and recruiting.
D)Benefit processing.
Q2) The results of an internal audit finds that there is a problem with inaccurate time data being entered into the payroll system.What is an applicable control that can help prevent this event from occurring in the future?
A)Proper segregation of duties.
B)Automation of data collection.
C)Sound hiring procedures.
D)Review of appropriate performance metrics.
Q3) Which of the following is not classified as a voluntary deduction?
A)Pension plan contributions.
B)FICA.
C)Health insurance premiums .
D)Deductions for a charity organization
Q4) Discuss the threat of unauthorized changes to the payroll master file and its consequences.
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Q5) Identify the two types of payroll deductions and give two examples of each type.
Chapter 16: General Ledger and Reporting System
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Sample Questions
Q1) Standard XBRL taxonomies can cover most accounting situations.
A)True
B)False
Q2) The operating budget
A)compares estimated cash flows from operations with planned expenditures.
B)shows cash inflows and outflows for each capital project.
C)depicts planned revenues and expenditures for each organizational unit.
D)is used to plan for the purchase and retirement of property,plant,and equipment.
Q3) Financial statements are prepared in a certain sequence.Which statement is prepared first?
A)The adjusted trial balance.
B)The income statement.
C)The balance sheet.
D)The statement of cash flows.
Q4) Discuss the value and role of budgets as managerial reports.
Q5) Describe three threats in the general ledger and reporting system and identify corresponding controls for each threat.
Q6) How is an audit trail used in the general ledger and reporting system?
Q7) Explain the purpose of a journal voucher file.
Page 18
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Chapter 17: Database Design Using the Rea Data Model
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Sample Questions
Q1) What is Cardinalities?
Q2) Each event in an REA model will in most cases have at least one ________ agent and one ________ agent involved with the event.
A)internal;resource
B)external;entity
C)internal;employee
D)internal;external
Q3) Identify the item below that would be classified as an agent by the REA data model.
A)An IOU from a customer.
B)The customer.
C)A customer sale.
D)A loan from a vendor.
Q4) ________ includes all the activities associated with transferring data from existing systems to the new database AIS,testing the new system,and training employees how to use it.
A)Systems analysis
B)Conceptual design
C)Physical design
D)Implementation and conversion
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Chapter 18: Implementing an Rea Model in a Relational Database
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Sample Questions
Q1) Why might the same REA diagram result in different relationship cardinalities?
A)Different organizations might have different business policies.
B)Different designers might implement an REA diagram differently.
C)Different consultants might draw an REA diagram differently.
D)Errors occur in the REA diagram.
Q2) Explain where in the REA model you can find the information normally found in a journal.
Q3) Integrating separate REA diagrams into a single comprehensive enterprise-wide model of the organization requires understanding what the ________ in each separate diagram reveal about the organization's business policies and activities.
A)cardinalities
B)data
C)events
D)transactions
Q4) The primary key for M:N relationship tables
A)is a single attribute.
B)always consists of two attributes.
C)is the primary key of the most important entity linked to that relationship.
D)does not exist.Many-to-many relationship tables only use foreign keys.
Page 20
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Chapter 19: Special Topics in Rea Modeling
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Q1) Relationships between resources and agents,such as Inventory and Supplier,reflect the best practice of identifying preferred and alternative suppliers for specific inventory items.Similar relationships between resources and employees can be used to model ________ and ________.
A)cost;revenue
B)performance;behavior
C)responsibility;accountability
D)segregation of duties;internal control
Q2) The relationship between the Disburse Cash and Issue Stock events is modeled as being ________ because each stock issuance may be linked to many dividend payments and,conversely,a particular dividend payment may be related to multiple different issuances of stock.
A)1:1
B)1:N
C)M:N
D)1:M.
Q3) Describe the four main events of interest included in a typical production cycle REA diagram.
Q4) Why is cost information stored in several relational tables?
Q5) Why might an REA diagram show relationships between resources and agents?
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Chapter 20: Introduction to Systems Development and Systems Analysis
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Sample Questions
Q1) What report serves as a repository of data from which systems designers can draw information?
A)The executive steering committee report.
B)The initial investigation report.
C)The systems analysis report.
D)The systems survey report.
Q2) An information system used by an furniture maker took 48 hours to process an order received over the internet.After upgrading the system,processing time was reduced to sixty seconds.This is an example of A)productivity gains.
B)a technological change.
C)an improved business process.
D)better systems integration.
Q3) In which systems analysis step do analysts conduct an extensive study of the present system to gain a thorough understanding of how it works?
A)Feasibility study.
B)Information needs and requirements.
C)Systems analysis report.
D)Systems survey.
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Chapter 21: Ais Development Strategies
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Q1) Business Process Management views business processes as
A)strategic organizational assets.
B)a series of small tasks to be closely managed.
C)related activities that,once perfected,should be managed on an exception basis.
D)subsets of organizational strategy that should not be owned by any specific person or department.
Q2) According to your textbook,what percentage of outsourcing agreements have been described as failure or as major disappointments?
A)5% - 10%.
B)10% - 25%.
C)25% to 50%.
D)Great than 50%.
Q3) Why does Pepsi create most of the software it uses in business operations?
A)Pepsi does not trust canned software.
B)Using canned software actually cost Pepsi more than using custom software.
C)Pepsi could not find canned software sophisticated enough to meet its needs.
D)There is no canned software available in Pepsi's industry.
Q4) Describe end-user computing and the advantages and risks involved.
Q5) Describe the conditions that favor the use of prototyping.
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Chapter 22: Systems Design, implementation, and Operation
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Sample Questions
Q1) Which of the following control considerations will help ensure that all input,processing,storage,and output activities are authorized by the appropriate managers?
A)Security.
B)Accuracy.
C)Authorization.
D)Validity.
Q2) Yasin,a professional in information technology services,received an e-mail from Sabri in the Sales department.The e-mail read: "Yasin,I need you to do something for me.Query sales data for the second quarter and pull out all of the invoices that include iPhones selling with a discount.I need a count and the total amount of the discount.Thanks,Sabri." What type of report is Sabri asking Yasin to prepare?
A)Scheduled report.
B)Special-purpose analysis report.
C)Triggered exception report.
D)Demand report.
Q3) Describe the different types of documentation that should be prepared for a new system.
Q4) Describe at least four considerations during controls design.
Page 24
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