Week 9 Lab

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Temple University *

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4501

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Accounting

Date

Apr 3, 2024

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docx

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7

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Lab 6-2 (Tableau track)
Lab 6-2 Objective Questions (LO 6-1, 6-3) OQ1. Look at the Benford visual in the top-left corner of your dashboard. Which digit appears much greater than its expected value? The leading digit 1 appears much greater than its expected value. OQ2. Click the bar for the leading digit 4 to filter the transactions. What is the grand total of all transactions that begin with a 4 (rounded to the nearest dollar)? The grand total is $2,071,610. OQ3. Hover over the individuals in the Benford Average visualization (you could also create a new visualization to show the Benford average and Purchase Order count by user). What is the name of the individual with the smallest Benford Average who also has more than 10 transactions? L Bybee.
OQ4. Hover over the individuals in the Benford Average visualization. What is the average Benford Expected value for the person (round to two decimal places) with the smallest Benford Average who also has more than 10 transactions? It’s 0.08. OQ5. Hover over the individuals in the Benford Average visualization. Click the bar for the first individual with more than 10 transactions to filter the dashboard. What digit do most of that individual's transactions begin with? Digit 9. Lab 6-2 Analysis Questions (LO 6-1, 6-3) AQ1. What does calculating the Benford Average tell us about individuals? It tells us if the dataset is regular or not and hence to see if it's fraudulent. AQ2. What can we learn by looking at an individual's transactions through the lens of Benford's law? We can learn that any data irregularities indicate fraud. AQ3. As an auditor, why would we be concerned with a high volume of transactions that exceed the Benford Expected value? It's because a high volume of transactions that exceed the Benford Expected value is likely to be fraud. That's why auditors need to apply other methods to identify it.
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Lab 6-3 (Microsoft track)
Lab 6-3 Objective Questions (LO 6-1, 6-2) OQl. How many duplicate records did you locate? I located 2 duplicate records. OQ2. What is (are) the invoice number(s) of the duplicate payments? The invoice reference number is 4022595. OQ3. How much money could the company recover from the supplier from these duplicate transactions? $732.04. OQ4. What data items do you need to combine to be able to find duplicate payments? Payment ID, payment date, prepared by, payment amount and invoice reference. Lab 6-3 Analysis Questions (LO 6-1, 6-2) AQ1. Before computerization or Data Analytics, how would companies find that they had made duplicate payments? Companies would look at each transaction one by one and manually find duplicates.
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AQ2. What data items do you need to be able to find duplicate payments? Payment date, payment amount and invoice reference. AQ3. Would the date of the duplicate payments usually be the same or different? The dates of the duplicate payments are usually different.