How accounting data analytics benefits accountants? 2. Discuss the risks of analytics in relation to ethics, privacy and potential
Q: A company purchased land for $350000 cash. The real estate brokers' commission was $15000 and $61000…
A: The cost of land includes all the expenses that make the land ready to use. It includes expenses…
Q: any (LLC)? A. Complex
A: To explain the feature of LLC as,
Q: Question 4 A corporation sold 16,000 shares of its $11 par value common stock at a cash price of $10…
A: The company can raise funds by various methods. Some of them are, by way of issuing common stock,…
Q: Pation is considering a capital investment of $50,000. The equipment has a projected salvage value…
A: Calculation of after tax cash flow Discounted Cash flow Concept
Q: ars interest of 12%. sult of a settlement on December 31, 2020, Philippine National Bank ag ollowing…
A: Concept of interest bearing Note Extinguishment of Loan and interest
Q: What is the Workers' Compensation premium owing for an employer in Ontario with assessable earnings…
A: Workmen compensation is acknowledged as an insurance policy provided by an employer whereby he will…
Q: next month's sales. How many mattresses should be produced in the first quarter of 2019?
A: Production Budget The production budget calculates the number of units of products manufactured by a…
Q: 3. Enter the following in the personal accounts (i.e. the creditor and debtor accounts) only. Do not…
A: Debtors are those persons or parties which have received goods means bought goods from the company…
Q: Which is a incorrect statement below? A. Change in revaluation surplus is an OCI that will be…
A: The income statement shows the net income or net loss that is calculated by deducting the expenses…
Q: The actual information pertains to the month of June. As part of the budgeting p developed the…
A: Budgeted selling price per unit = Static budgeted sales revenue/sales units
Q: The following data were obtained regarding the operations of Kirsten Company: Sales in units P…
A: Since you have posted question with multiple sub-parts we will do the first three sub-parts asked by…
Q: The ff data were made available from a single entry set of books of PETRA Trading owned by Petra…
A: In a single entry system to compute the gross sales and net incomes the following work is needed to…
Q: Sale of land $ 194,000 Purchase of treasury stock 33,000 Issuance of common stock 116,000 Payment of…
A: Introduction: Statement of cash flows: All cash in and out flows are shown in cash flow statements.…
Q: long-term basis at the end of
A: Short-term obligation are those which mature within a period of one year. Long term obligations are…
Q: The marginal cost of a unit is its ----------. Variable Cost Absorption Cost Fixed Cost Non…
A: Marginal cost is the cost incurred to produce additional unit or to render additional service.
Q: which she settled $300,000. Income and capital beneficiaries of the trust include Wendy and her two…
A: Here asked about the settlor discretionary settlement and after the tax consequences in their after…
Q: Given the building layout for Store A, Store B, Store C, and Store D, what portion of the shared…
A: Cost refers to the amount expended by an entity as a consideration for acquisition of goods or…
Q: Which of the following statement(s) related to budgets is/are TRUE? O In preparing a master budget,…
A: A budget is prepared with a view to estimate the revenues and expenses of the firm over a particular…
Q: 18. The appropriate WACC of a firm is 6.43%. With risk-free rate of 4%, market return of 8%…
A: GIVEN The appropriate WACC of a firm is 6.43% With risk-free rate of 4 % market return of 8%…
Q: Both Lauren Jason Who is worse off in this situation? give the money in the first stage. surplus,…
A: whenever 2 person who work together do not trust or corporate with each other then the trust issue…
Q: c Inc. produces soft drinks. Mixing is the first department, and its output is measured in gallons.…
A: Solution: Equivalent units are the units which represents the % of work completed during the period.…
Q: MKD Company's quality cost report is to be based on the following data: Test and inspection of…
A: The question is related to Quality Cost. The quality cost is classified into two 1. Cost of…
Q: On March 1, 2021, Candace and Noreen formed a partnership with each contributing the following…
A: A Partnership Firm is an organisation of two or more people or organizations, who agreed to run a…
Q: not at all. Consider each situation independently. Situation Impact on audit risk In year…
A: Audit refers to reviewing and evaluating of companies accounts to determine the accuracy and…
Q: Required information Exercise 7-24 (Algo) Central Station Enterprise Fund (LO 7-5] [The following…
A: Journal entry is the primary step to record the transaction in the books of account. The nominal…
Q: Shown below is the sales forecast for Cooper Inc. for the first four months of the coming year Feb…
A: Lets understand the basics. Management calculates the cash inflow and outflow so as to understand…
Q: The seven-month demand for product X is as follows: 500; 6,000; 2,000; 1,500; 4,000; 5,500; and…
A: In this production plan per month 4000 units are…
Q: hreé products X, A company is manufacturing and Z. The following information is supplied to:…
A: The question is related to the Cost Management. The details are given regarding the same.
Q: has the following information: Sales P 480,000 Operating expenses 300,000 Net loss (60,000)
A: Cost of Sales is the difference between the sales revenue and gross margin . It is the cost of the…
Q: On June 1, 2018, Wildhorse Company and Sheffield Company merged to form Tamarisk Inc. A total of…
A: Earnings per share:- It is calculated company's net profit available for common shareholders by the…
Q: Use the following to answer questions 23 - 26 I.T Corporation was organized on January 3, firm was…
A: Retained earnings The concept of retained earnings in accounting is critical. The term refers to a…
Q: A change in the quality of materials purchased A new supplier contract Error in the accounting…
A: 1) Material price variance = Material price variance occurs when the actual price paid is more or…
Q: oodview Berhad issued RM 20 million 6% convertible loan notes on 1 January 2017. Upon maturity on 31…
A: Accounting for interest bearing Convert able Notes
Q: Part 1 On April 1, 2020. Shelter Bay Inc. has available for issue S00,000 honds due in four years…
A: Valuation of Bond
Q: Paradise Company plans the following beginning and ending inventory levels (in units) for June: June…
A: The units required to be manufactured can be calculated units sold plus the change in inventory of…
Q: On January 1, 2021, Heaven Inc. reported the following shareholders' equity: Preference share…
A: Depreciation expense is the portion of cost of the fixed assets to be written off periodically in…
Q: The following information is for Ivanhoe Company in September. 1. Cash balance per bank, September…
A: A reconciliations statement that compares the cash balance on a company's balance sheet to the…
Q: In April Leafon Landscapes' direct labor was 60% of the conversion cost. If the manufacturing…
A: Conversion cost = Direct labor + Manufacturing overhead
Q: Oak Mart, a producer of solid oak tables, reports the following data from its first year of…
A: The question is based on the concept of Cost Accounting.
Q: 1a. A machine was purchased 4 years ago for $50,00O. The depreciation amount each year was $10,000.…
A: Depreciation charging method includes: Straight-line method Declining balance method…
Q: January 1, 2017, BMB Corporation acquired machinery at a cost of ₱500,000. BMB adopted the…
A: As per IAS 8, Accounting policies, changes in Accounting estimates and errors A change in method of…
Q: Why an internal control system can only provide reasonable assurance on the achievement of an…
A: Internal Control is the process designed, implemented and maintained by those charged with…
Q: 4) The Toronto Estonian Credit union charges 7% compounded monthly on certain type of loan. The want…
A: Nominal Interest- The nominal interest rate is the stated interest rate that does not include…
Q: Determine the weighted-average number of shares outstanding as of December 31, 2021. The…
A: The question is based on the concept of Financial Accounting. Earning per share is calculated by…
Q: ted) note payable to First Bank at P8,000,000 and accrued interest On January 1, 2021, Granada…
A: Present value of the new note payable on Jan 1, 2021 = Interest payment × PV of ordinary annuity at…
Q: ements for tax exemption C. Type of for-profit business that also has a social mission D. Type of…
A: The definition of S corporation as,
Q: 2. You bought a $30,000.00 machine with $6,000.00 down payment and agreed to pay for the rest at 1%…
A: The question is based on the concept of Financial Management. Annuity refers to the amount of equal…
Q: Use the following to answer questions 6 – 12 J&TR, Inc., has two classes of stock authorized:…
A: The shareholder's equity comprises of total shares issued, retained earnings and dividend…
Q: Amanzi Company applies Overhead based on Direct Labour hours. At The beginning of the year, Amanzi…
A: Formula: Predetermined overhead rate = Estimated overhead / Estimated direct labor hours
Q: a) Php21.82 b) Php19.84 c) Php14.22 d) Php12.24 10. Heinz Inc expects to generate earnings over the…
A: The question is related to Capitalization of earnings method. Estimated Value = Average Annual…
1. How accounting data analytics benefits accountants?
2. Discuss the risks of analytics in relation to ethics, privacy and potential for errors and misuse.
Hello, can you help me out. Thank you!
Step by step
Solved in 3 steps
- Which of the following is false about accounting information systems? A. They provide reports that people analyze. B. They prevent errors and stop employees from stealing inventory. C. They are designed to gather data about the companys transactions. D. They consist of processes that involve input of data from source documents, processing, output, and storage.1. What is the relationship between accountants and AIS? 2. What are some of the improvements that you may witness from BPR in conjunction with IT systems?1. a. Why are documentation, visualization, and business process mapping important to accounting information systems auditors? b. Why should accountants be interested in AIS documentation? 2. How are data analytics tools helping accountants and auditors? 3. a. Explain why auditors’ communication skills are so important. b. Give examples of where these skills would be necessary in each phase of an audit engagement. c. In this age of high technology and computer-based information systems, why are accountants/auditors concerned about physical (human) controls?
- What is the relationship between Accounting and an Accountinginformation system? • What has happened to the relationship over the years? • What is accounting information? • Name 4 uses of Accounting Information? • Use an example to illustrate the difference between data,information, and intelligence? • Discuss security concerns related to shadow data and businessintelligence technologies. • Discuss the role of accounting professionals in thedevelopment of shadow data. System Documentation • What is system documentation? • Why is it important to know system documentation? • Explain the 4 elements that makes up the Data Flow Diagrams? • Give an example of who or when one of these documents may berequired • What are Flowcharts? • List an example of an Input/output, processing and storage Symbols • Differentiate between different types of Flowchart? • If you were a new factory employee on your first day at a vastfactory, indicate which level Flowcharts would be required and •…What is the relationship between Accounting and an Accountinginformation system? ) • What has happened to the relationship over the years? • What is accounting information? • Name 4 uses of Accounting Information? • Use an example to illustrate the difference between data,information, and intelligence? • Discuss security concerns related to shadow data and businessintelligence technologies. • Discuss the role of accounting professionals in thedevelopment of shadow data. • What is system documentation? • Why is it important to know system documentation? • Explain the 4 elements that makes up the Data Flow Diagrams? • Give an example of who or when one of these documents may berequired • What are Flowcharts? • List an example of an Input/output, processing and storage Symbols • Differentiate between different types of Flowchart? • If you were a new factory employee on your first day at a vastfactory, indicate which level Flowcharts would be required and • If you were a new…Cite one reason why there is a continued evolution of information system and how does this affect the roles of accountants or auditors of accounting information system?
- Describe how information reduces risk when you make a personal or work-related decision. What are information rules? How do they simplify the process of making decisions? What is the difference between data and information? Give one example of accounting data and one example of accounting information. List the five functions of an MIS. What are the components of a typical business report? Describe the three types of computer applications that help employees, managers, and executives make smart decisions. What purpose do audits and GAAPs serve in today’s business world? How do the major provisions of the Sarbanes-Oxley Act affect a public company’s audit procedures? What is the principal difference between a balance sheet and an income statement? How are current assets distinguished from fixed assets? Why are fixed assets depreciated on a balance sheet? How does the use of money solve the problems associated with a barter system of exchange? For a business firm, what type of activities…1) Why is it not necessary to model activities such as data entry of information about customers or suppliers, mailing invoices to customers, and recording invoices received from suppliers as events in an REA diagram? 2) How can REA diagrams help an auditor understand a client’s business processes? 3) How would accounts payable be reflected in an REA diagram? Why?What are the steps when using analytics to solve your business problems
- Consider the use of Integrated Accounting, as a computerized accounting system. Write a discussion post in which you respond to the following prompts: Under what circumstances would it be in a business’s best interest to invest in and use a computerized accounting system? Are there circumstances in which it would make sense to use a manual system? Explain your answer.Give me a conclusion paragraph about the impact of AI in AccountingControl Objectives for Information and Related Technology, Why is it important to you in your career in accounting?
