Data Analytics For Accounting
19th Edition
ISBN: 9781260375190
Author: RICHARDSON, Vernon J., Teeter, Ryan, Terrell, Katie
Publisher: Mcgraw-hill Education,
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Question
Chapter 4, Problem 3DQ
To determine
Identify the situations in which it would be important to communicate the extreme observations and outliers to a reader. Identify any particular accounts on the balance sheet or income statement.
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What would be the advantages of reviewing a balance sheet in addition to the P&L?
Perform the Reperformance or Recalculation procedures to check the mathematical accuracy of the Balance Sheet. What issue did you find? What is the next step? Create a Corrected version of the Balance Sheet.
Where can the data of a Balance Sheet be useful?
Chapter 4 Solutions
Data Analytics For Accounting
Ch. 4 - Prob. 1MCQCh. 4 - In the late 1960s, Ed Altman developed a model to...Ch. 4 - Justin Zobel suggests that revising your writing...Ch. 4 - Prob. 4MCQCh. 4 - The Fahrenheit scale of temperature measurement...Ch. 4 - _______ data would be considered the least...Ch. 4 - ________ data would be considered the most...Ch. 4 - Prob. 8MCQCh. 4 - Exhibit 4-8 gives chart suggestions for what data...Ch. 4 - Prob. 10MCQ
Ch. 4 - Prob. 1DQCh. 4 - Prob. 2DQCh. 4 - Prob. 3DQCh. 4 - Prob. 4DQCh. 4 - Prob. 5DQCh. 4 - Based on the data from datavizcatalogue.com, how...Ch. 4 - Prob. 7DQCh. 4 - Prob. 8DQCh. 4 - Prob. 9DQCh. 4 - Prob. 1PCh. 4 - Prob. 2PCh. 4 - Prob. 3PCh. 4 - According to Exhibit 4-8, which is the best chart...Ch. 4 - Prob. 5PCh. 4 - Prob. 6PCh. 4 - Prob. 7P
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Similar questions
- Which one of the following is not one of the perspectives of the Balance scorecard? Select one: a. Financial b. Customer c. Breakeven calculation d. Internal processarrow_forwardTrue or false: Studying the relationship of financial information with another information, whether financial or non-financial, is an example of an analytical procedure.arrow_forwardBriefly describe how mean-per-unit estimation, ratio estimation, and difference estimation areused to provide an estimate of the recorded account balance or class of transactionsarrow_forward
- What is probably the greatest single reason conventional financial statements are inadequate for analysis? a. Accrual accounting b. Historical cost c. Matching rule d. Going concern conceptarrow_forwardHow can judgment and estimation affect information reported in the financial statements?arrow_forwardWhy does balance of payments contain an account called statistical discrepancy?arrow_forward
- What does the purpose of compare financial statement?arrow_forwardIn a common-size analysis, the auditor compares account balances with a single line item. In a balance sheet, this line item is generally current assets. O total equity. O total liabilities. O total assets.arrow_forwardDetermine the missing values below to produce a valid balance sheet.arrow_forward
- How would you fill out a financial impact statement for this data?arrow_forwardWhat like would like help understanding the structure of balance sheets and income statements.arrow_forwardI need to draft an analysis using vertical analysis and horizontal analysis of the income statement and the balance sheet. I don't know how to calculate vertical or horizontal analysis.arrow_forward
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