ACG 5075 Keiser University Accounting for Decision Makers Paper

Week 1 Discussion (initial post due by Wednesday)

Review the short video above.

This week you were introduced to managerial accounting and cost methods. Discuss the differences between fixed, mixed, and variable costs by providing two examples of each type of cost as they relate to a company you have worked for in the past, currently, work for, or plan to work for in the future. Why do you think it is important for managers of this organization to understand the differences in these costs (be sure to provide a specific related example)?

*Please review the video on Understanding Scholarly Journal Articles and 10 Type of Plagiarism, then review the Example of a Substantive Post to use as a guide for all of your posts.

Understanding Scholarly Journal Articles: https://www.youtube.com/watch?v=oKUnsz1a01A

10 Type of Plagiarism: https://www.youtube.com/watch?v=EF5eFeJMplA

Students must make a minimum of three substantive (several paragraphs per post) contributions on three separate days of the learning week to the discussion topic.  Post your initial response to the discussion question early in the learning week (no later than Wednesday), and then respond to a minimum of two other posts.  Initial posts must contain 3 scholarly sources (using the KU Library), one of which may be the textbook.  The discussion exercise closes on Sunday.

Keiser University Library link: https://keiseruniversity.libguides.com/c.php?g=759268&p=5444887

Example of a Substantive Post (Please review before you post your discussion)

 FYI: A general guide we use to explain what a substantive post is:

A      post that comprises at least 3 detailed and      related paragraphs

Ideas      and opinions are backed up by scholarly sources found at the KU library

Sources      and citations are in APA format

Big data refers to extremely large and complex data sets that can be described according to four characteristics known as the four Vs: volume, variety, velocity, and veracity (Gepp, Linnenluecke, O’Neill, & Smith, 2018). Some businesses use big data in order to identify common bottlenecks, understand customer behavior, and improve performance (Tang & Karim, 2017). Big data has also been adopted in accounting practice to adjust inventory and to measure intangibles (Tang & Karim, 2017). In addition, with the availability of different types of tools such as predictive models, data layering, and visualizations, big data can be used effectively in the audit field (Prem & Marthandan, 2018). In fact, these big data techniques help auditors to assess the company’s financial condition and to improve the audit evidence.

There are also big data techniques for forecasting financial distress that help auditors to improve the going concern evaluations. For instance, the incorporation of big data models should help auditors to avoid the cost of issuing an unmodified opinion prior to bankruptcy (Gepp, Linnenluecke, O’Neill, & Smith, 2018). On the other hand, internal auditors can also use big data models for forecasting financial distress that focus on longer periods. These models when combined with the opinion of the internal audit team could provide useful information for senior management and the Board of Directors (Gepp, Linnenluecke, O’Neill, & Smith, 2018).

Big data can also improve the quality of audit evidence. In fact, the use of big data can provide a population-based audit generating more relevant audit evidence. For instance, an auditor can conduct an extensive examination to a client’s complete records of accounts receivables in order to reduce the bias from sampling (Tang & Karim, 2017). The high volume of data allows auditors to stratify the accounts by transaction amount, date, and location. Auditors also can compare the stratified groups in order to find patterns and to obtain useful information (Tang & Karim, 2017). In addition, big data such as GPS data can provide auditors with more solid verification about shipping information.

                                                                       References

Gepp, A., Linnenluecke, M. K., O’Neill, T.J. & Smith, T. (2018). Big data techniques in auditing research and practice: Current trends and future opportunities. Journal of Accounting Literature, 40, 102-115. doi:http://dx.doi.org/10.1016/j.acclit.2017.05.003

Prem, L. J., & Marthandan, G. (2018). The hype of big data analytics and auditors. Emerging Markets Journal, 8(2), 1-4. doi:http://dx.doi.org/10.5195/emaj.2018.153

Tang, J., & Karim, K. E. (2017). BIG DATA in business analytics: Implications for the audit profession: Certified public accountant. The CPA Journal, 87(6), 34-39. Retrieved from https://search.proquest.com/docview/2213054542?acc…

Accounting for Decision Makers ACG5075G1-108292022

1st Online Assignment (due at the end of the week)

Attached Files:

• Week 1      Template.docx Week 1 Template.docx – Alternative Formats (19.44      KB)

Please click on the link above to upload your completed assignment.

• Paper Information:

For this paper you will be using the template as a guide to assist you. Write a 2-page paper that discusses the differences between accounting and bookkeeping