Data Analytics ACL Assignment 12 Acctg 431 Fall 2016 Task Pe

Data Analytics Acl Assignment 12 Acctg 431 Fall 20161task Per

Perform Data Analytics analysis using ACL to solve the following questions from your textbook: • 7-39 (Payroll), 8-41 (Inventory), 10-37 (Purchase), 12-36 (Purchase), 16-38 (Sales). Submission must be in hard copy. In the header please specify “ACCTG431, Fall 2016, Section, Name and RedID). All pages must be numbered. Due date is December 16, 2016, at 3 pm. Early submission (fifty percent bonus point) is accepted before December 6. Use ACL software to analyze data files, which can be downloaded from the provided links. Instructions for self-study and data access are included. Specific questions involve analyzing payroll transactions, inventory valuation, purchase transactions, and sales and collection cycles using ACL commands such as Total Fields, Sorting, and Filtering.

Paper For Above instruction

The purpose of this assignment is to utilize ACL (Audit Command Language) software to perform data analytics on provided datasets, answering specific questions aligned with accounting and auditing processes. These exercises strengthen analytical skills, facilitate understanding of internal controls, and promote efficient data review techniques vital for auditors and accountants.

First, the payroll analysis (Question 7-39) revolves around identifying the number of distinct pay periods and verifying data consistency. Using ACL, you can import the payroll dataset and analyze transaction dates to determine the count of unique pay periods, thereby assessing if the payroll system is correctly segmented and processed. Additionally, comparing total net pay amounts in the dataset against calculated totals can reveal discrepancies. This process involves creating filters or computed fields to isolate and validate data accuracy. Auditors often perform such tasks to detect anomalies or data entry errors impacting payroll integrity.

The inventory valuation question (Question 8-41) emphasizes analyzing inventory data to assess valuation methods and correctness. In ACL, importing inventory tables allows auditors to examine inventory quantities and unit costs. The "Total Fields" command can sum invoice amounts, enabling audit of aggregate inventory values. Filters can isolate inventory items with specific characteristics, such as salvage or obsolete items, ensuring inventory valuation aligns with accounting standards. This process supports inventory verification by confirming that recorded inventory values match physical counts or valuation reports.

The procurement analysis (Questions 10-37 and 12-36) involves scrutinizing purchase transactions and vendor activity. ACL can help identify purchase over certain thresholds, such as Pcard purchases exceeding $1,000, to validate managerial review procedures. The software's filtering capabilities facilitate pinpointing transactions above the threshold and analyzing vendor data to identify those with the highest transaction volumes. Sorting features enable auditors to order data, making subsequent reviews more effective. For example, finding the vendor with the largest total purchase amount assists in vendor management audits, while filtering transactions within specific ranges offers insights into procurement patterns and potential anomalies.

The sales and collection cycle evaluation (Question 16-38) focuses on analyzing sales transactions and revenue collection data to assess completeness, timing, and accuracy of sales. Importing sales data into ACL enables auditors to perform total invoice amount calculations, identify outstanding receivables, and review customer-specific transactions. Using sorting and filtering tools, auditors can detect unusual customer activity, such as an unexpectedly high number of transactions within narrow ranges. Analyzing these transactions helps identify potential revenue recognition issues or fraudulent activity. Internal control reviews involve ensuring that sales over certain thresholds are properly authorized and documented.

Throughout these analyses, ACL commands such as "Total Fields," "Quick Sort," and "Filters" are critical for efficient data examination. The software simplifies complex data review tasks that would otherwise be cumbersome with manual methods like spreadsheets or paper documentation. By automating totals and enabling targeted queries, ACL enhances audit accuracy and efficiency.

In conclusion, this assignment demonstrates the application of ACL for targeted data analysis tasks in an accounting context. It underscores the importance of data analytics in auditing and accounting practices by illustrating how these tools facilitate error detection, internal control evaluation, and process efficiency. Mastery of ACL commands and techniques empowers auditors and accountants to perform more effective reviews, ultimately contributing to the integrity of financial reporting and operational processes.

References

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