In accounting, how does Big Data Analytics contribute to transforming financial reporting and analysis, particularly through techniques such as data mining, predictive modeling, and machine learning? a) By solely relying on traditional spreadsheet - based reporting methods. b) By enabling deeper insights and decision support through advanced data analysis techniques. c) By decreasing reliance on data - driver decision-making processes. d) By neglecting the importance of data quality and accuracy in financial reporting.

Q: Reputation of outcomes can play a role in the financial viability of an organization. Can you…

A: The financial growth and development of a corporation is an important objective and goal for a…

Q: A process that create a financial position that offsets the risk of an ongoing business process is…

A: Transfer of risk: Transfer of risk is one the strategy for risk management. This involves transfer…

Q: What type of analytics would encompass creating Key Performance Indicators (KPI’s) from the…

A: Introduction: Customers are driven by key performance indicators (KPIs), which are used by…

Q: Using accounting software is better than preparing reports manually because it is O A. less…

A: For the purpose of keeping and maintaining accounting records, two type of systems will be followed.…

Q: A. It is claimed that, despite the challenges, engaging with and utilising Big Data is crucial for…

A: Big data analytics assists businesses in harnessing their data and identifying new opportunities. As…

Q: Which of the following are correct regarding why management uses internal controls? (Check all that…

A: The objective of this question is to identify the correct reasons why management uses internal…

Q: The ultimate goal of the financial system in a market economy is to make the price of financial…

A: Financial system: Financial system is a structure or a system concerned with money and finance for…

Q: business analytics

A: Business analytics can be defined as the breakdown of past information so that future decisions can…

Q: Accounting profit may include income or expenses that are not included in the taxable profit, and…

A: Accounting profit means the profit calculated by the entity after deducting all the expenses (except…

Q: Describe some of the motives and mistakes made by the financial engineers?

A: Motives of financial engineers are discussed as follows: Financial engineers use quantitative…

Q: Which TWO of the following can big data analytics be used for? To ensure decisions are based on data…

A: Data Analytics is an activity of processing raw data and extracting useful information for the…

Q: Explain why signaling is so important to management relations with investors.

A: It is an indicator by the company through a price changes in the dividend that can provide insight…

Q: What are some important ratios to analyze in financial statements? Which measures are important and…

A: Some of the important ratios to analyze financial statements are as shown below:   - Current ratio -…

Q: planning

A: Planning, budgeting & financial forecasting plays an important role in any organization to take…

Q: Is the WACC set by investors or by managers and how (with theoretical concepts)?  Please provide…

A: The Weighted average cost of capital (WACC), which includes common stock, preferred stock, bonds,…

Q: Define and explain the agency problem in terms of differences in ability to diversify risk by…

A: Agency problem occurs when there is a conflict of interest when manager is in dilemma to serve the…

Computerized Accounting System

The Computerized Accounting System is generally a system of maintaining accounts using computers. In this method of accounting system, the accounting transactions are processed through the use of hardware and software to generate the reports such as journals, ledgers, trial balance, trading account, P/L accounts, balance and other reports.