1. Benford's Law (be sure to answer all 3 parts): Part A: Briefly describe Benford's Law. Part...
Question:
1. Benford's Law (be sure to answer all 3 parts):
Part A: Briefly describe Benford's Law.
Part B: Draw a graph that exemplifies data which conforms to Benford's Law (i.e., what it should look like).
Part C: Briefly describe how auditors could utilize Benford's Law while conducting test work.
2. Assume that have just completed the extraction process on a data set. As you begin validating the data for completeness and integrity, you notice an error. Describe the steps you might take to determine the source of an error.
3. Taylor is a new staff accountant for a fortune 100 company. After hearing that she just successfully completed an Accounting Data Analytics course, her boss said, "Get me a listing of all our deadbeat customer, so I can cut off their credit." After asking clarifying questions, Taylor was able to determine that root request was "Which customer, with a credit limit over $10,000, have more than $5,000 outstanding for more than 90 days at the prior quarter's end?" Using the ETL Techniques, briefly describe the process Taylor will have to complete to answer her boss' question.
Fundamentals of Investing
ISBN: 978-0133075359
12th edition
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk