Supplemental Prep Assignment. This assignment requires students to apply/research a selected course topic. Required Submission: Each student will be required to submit a write-up of work completed. Write-ups must be properly prepared, formatted, and submitted in accordance with instructions in the “Assignment Policies” documents posted on Blackboard. Write-ups must be submitted to Blackboard before 10:00 AM on the submission deadline date indicated on the course syllabus.Late, emailed, or hardcopy write-ups will NOT be accepted.
This assignment requires you to synthesize an understanding of spreadsheet analytics functions and their relevance for risk management.
Briefly respond to the following:
1.Data Analytics. Conduct research online to synthesize an understanding of data analytics.
a.Data Analytics. Define data analytics and explain its relevance to accounting/business practice. Hint: Search for “data analytics”.
b.Data Analytics vs. Statistics. Discuss the difference between data analytics and statistics. Which has greater significance for accounting/business practice? Explain. Hint: Search for “data analytics vs. statistics”.
c.Data Analytics & Risk Management. Discuss the relevance of data analytics to risk management (i.e., How might data analytics be utilized to support risk management processes?). Hint: Search for “data analytics and risk management”.
2.Microsoft (MS) Excel Analytics. Review commonly used analytics functions within MS Excel.
- Atomic Learning. Review commonly used spreadsheet data analytics functions within Microsoft Excel (statistical analysis, charting, conditional formatting) by completing Atomic Learning tutorials. Complete the Excel 2016 - Statistics: A. Describing Data (required), B. Comparing Variables (required), C. Tests of Significance (required), and D. Data Analysis ToolPak (required) module tutorials. Also complete Excel 2016 - Charting: B. Overview of Charts (required), C. Chart Tabs and Ribbons (required), D. Format Your Chart (required), E. Present Your Chart (required), F. Working With Sparklines (optional), and G. New Chart Types (optional) module tutorials. List the modules completed, provide a brief synopsis what you learned within each module (You do not have to provide a synopsis of each individual tutorial video), and comment on the usefulness of Excel analytics functions. Note: Atomic Learning modules are required.
- MS Excel & Risk Assessment. Identify one MS Excel function/tool that may be used to enable risk assessment. Explain how the identified function/tool facilitates the risk assessment process.
3.Risk Assessment Tools. Conduct research on risk assessment tools.
- Many professionals contend that spreadsheets such as MS Excel are inadequate tools for contemporary risk assessment purposes. Discuss. Do you agree? Explain. Hint: Search for “using spreadsheets for risk assessment” or “spreadsheet inadequacies for risk assessment.”
- Identify one alternative risk analysis software application/tool and carefully explain its use. Hint: Search for “risk assessment software” or “risk assessment tools.”