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Homework answers / question archive / ACC555 Data Analytics  Practice Lab Problems-Chapter 8  Problem 1: Required information NOTE: Throughout this lab, every time a screenshot is requested, use your computer's screenshot tool, and paste each screenshot to the same Word document

ACC555 Data Analytics  Practice Lab Problems-Chapter 8  Problem 1: Required information NOTE: Throughout this lab, every time a screenshot is requested, use your computer's screenshot tool, and paste each screenshot to the same Word document

Accounting

ACC555 Data Analytics  Practice Lab Problems-Chapter 8

 Problem 1:

Required information

NOTE: Throughout this lab, every time a screenshot is requested, use your computer's screenshot tool, and paste each screenshot to the same Word document. Label each screenshot in accordance to the step in the lab. This document with all of the screenshots included should be uploaded through Connect as a Word or PDF document when you have reached the final step of the lab.

In this lab, you will:

1. Identify questions related to the income statement.

2. Analyze a list of calculated financial ratios for a selection of companies.

3. Create a dynamic spreadsheet that pulls in XBRL data.

4. Create formulas to identify the companies based on the ratios.

Refer to Chapter 8 pages 314 through 317 for instructions and steps for each of the lab parts. After completing Lab parts 1 through 4, complete the following requirements.

Software needed

Data

The data used in this analysis are XBRL-tagged data from Fortune 100 companies. The data are pulled from FinDynamics, which in turn pulls the data from the SEC.

Required:

a. What was the revenue for 2016?

b. Which year had the highest net income?

c. Each of the values that you created in Lab Parts 1 through 3 show the values as a percentage of revenue. Input the percentages for the values shown in the table below. (Enter your percentage answers rounded to two decimal places.)

Problem 2:

Upload the Word or PDF document containing your Lab screenshots using the button below.

Problem 3:

Using the skills learned from your prior financial accounting classes, your ability to extract information from XBRL, and your knowledge of common-sized financial statements, match the company names of Lab Exhibit 8.2A to their corresponding ratios in each column of Lab Exhibit 8.2B.

Problem 4:

Upload the Word or PDF document containing your Lab screenshots using the button below.

Problem 5:

Required information

NOTE: Throughout this lab, every time a screenshot is requested, use your computer's screenshot tool, and paste each screenshot to the same Word document. Label each screenshot in accordance to the step in the lab. This document with all of the screenshots included should be uploaded through Connect as a Word or PDF document when you have reached the final step of the lab.

In this lab, you will:

1. Identify questions related to XBRL tags and taxonomy.

2. Analyze tags and then do more in-depth querying.

Refer to Chapter 8 pages 323 through 325 for instructions and steps for each of the lab parts. After completing Lab parts 1 through 5, complete the following requirements.

Software needed

  • Microsoft Access

Data

We have provided a subset of the XBRL database in the Access database file XBRL.accdb. We have used the Arelle open-source XBRL platform to build our subset, which in turn pulls the data from the SEC.

Required:

a. How many large accelerated filers were there in March?

b. How many records returned for the "cash" query?

Problem 6:

Upload the Word or PDF document containing your Lab screenshots using the button below.

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