ACCOUNTING INFORMATION SYSTEMS SPRING 2024 TERM PROJECT USING DATA ANALYSIS
ACCOUNTING INFORMATION SYSTEMS SPRING 2024 TERM PROJECT USING DATA ANALYSIS
PART ONE
UNDERSTAND the QUESTION
DETERMINE the SCOPE of the QUESTION (Single Company OR Economy as a Whole) – BRIEF ONE PARAGRAPH DESCRIPTION
BASED ON #2, Identify and ListWHAT DATA is NEEDED and AVAILABLE. D
IDENTIFY and LIST WHERE THE DATA IS LOCATED
DETERMINE and LIST HOW TO EXTRACT DATA
What are Advantages/Disadvantages? (Descriptive Analytics)
What are the root causes of the results? (Diagnostic Analytics)
What will be the result? What is the probability, is it forecastable? (Predictive Analytics)
What should you do, based on what you expect will happen? How do you optimize our performance based on potential constraints?” (Prescriptive Analytics)
PART TWO
QUESTION- Should we outsource Customer Servive Whatever your conclusion it must be substantiated be specific, detailed data analysis….financial data AND non-financial.
List areas of concern. Identify the Relevant Accounting Question and the appropriate tools that were used in your analysis
We will be using the second part of the textbook for the rest of the course. There is valuable guidance provided in the textbook.
PART THREE
REQUIRED – The AMPS model, Document work steps, Detailed Data Analysis:
AMPS: Ask the Question – Match one of the accounting questions and appropriate procedures with the question being asked above.
Four Types/Themes of Accounting Questions:
AMPS: Master the Data –
What data (financial & non financial) do you need to answer/address the question?
Identify data sources and analytical tools that will be used
PART FOUR
AMPS: Perform the Analysis-
Descriptive analytics are procedures that summarize existing data to determine what has happened in the past.
Diagnostic analytics are procedures that explore the current data to determine why something has happened the way it has, typically comparing the data to a benchmark.
Predictive analytics are procedures used to generate a model that can be used to determine what is likely to happen in the future.
Prescriptive analytics are procedures that model data to enable recommendations for what should be done in the future.
Spreadsheets – Basic Formula and functions
References – how to connect other data in the spreadsheet
Macros – how to automate processes that are repetitive
Pivot Tables – often a very functional tool for many types of summarizations and also serves as a way to help organize the data
Query – Used to access the data needed for analysis
Using VLOOKUP in Excel to retrieve data from different databases
Understand how SQL might be used to access specific data from large datasets
State your conclusion. What is the best way to communicate what you have found in your data analysis?
Static Visualizations
Reports
Graphs
Tables
Diagrams/Flowcarts
PART FIVE
AMPS: Share the Story-
Identify your Data Sources
Aprox. 4 – 5 pages.
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