cs exam 2
If a confusion matrix shows 46 TP, 6 FN, 500 TN, and 4 FP, what is the accuracy ratio?
0.98
If a confusion matrix shows 25 TP, 5 FN, 1000 TN, and 5 FP, what is the accuracy ratio?
0.99
If Home Depot has an invoice due date of 12/2/2021 and today's date is 12/31/2021, what is the number of days past due?
29
Based on SOX, what section is about corporate responsibility for financial reports?
302
Based on SOX, which section is about internal control?
404
According to estimates considered in the chapter, up to what percentage of a data analyst's time is spent cleaning (or scrubbing) the data to be ready for analysis?
90%
The process of cleaning and scrubbing the data before data analysis can take place
AMPS: Master the data
Delivering the findings to the decision maker of which firms our company should approve for credit
AMPS: Share the story
XBRL style sheets:
Add presentation elements to instance documents.
The A in the AMPS model stands for which of the following?
Ask the Question
ADS is a standard format for data files and fields typically needed to support an external audit in a given financial business process area that was developed by the AICPA. The acronym ADS stands for what three words?
Audit Data Standards
a standard format for data files and fields typically needed to support an external audit
Audit Data Standards
Datasets that are too large and complex for businesses' existing systems to handle using their traditional capabilities to capture, store, manage, and analyze these datasets
Big data
created mainly for cryptocurrency application
Bitcoin
XBRL GL can be used to combine the operations of multiple organizations
Consolidations
COBIT stands for
Control Objectives for Information and related Technology
Management establishes, with board oversight, structures, reporting lines, and appropriate authorities and responsibilities in the pursuit of objectives
Control environment
Which term is used to describe the science of examining raw data, removing excess noise from the dataset, and organizing the data with the purpose of drawing conclusions for decision making?
DAta analytics
A computer based information system that facilitates business decision-making activities
Decision support system (DSSs)
Which type of analytics would be associated with summarizing what happened in the past?
Descriptive
Process of summarizing accounts receivable by how long it has been outstanding
Descriptive analysis
Which type of analytics addresses "Why did it happen"?
Diagnostic
What type of analysis addresses questions of "Why did it happen"?
Diagnostic analysis
Process of determining how separation of duties was violated at the company
Diagnostic analytics
Which feature cannot be found in bitcoin?
Double spend
The acronym ETL, in the process of readying data for use in data analysis, refers to what three words?
Extract, transform, and load
True/FAlse: SOX requires companies to use COSO or COSO ERM as the framework in evaluating internal controls.
False
True/False: A major reason of internal controls implemented for an information system is to provide perfect assurance that the goals of each business process are achieved.
False
True/False: Backup is a preventive control.
False
True/False: ISO 27000 series are best practices for IT service management
False
True/False: SOX requires all public companies to use the COSOERM framework to meet the requirements of section 404
False
True/False: the responsibility of monitoring the effectiveness of internal controls belongs to the internal audit group
False
Ture/False: Data warehouses gather information from external databases, but not from internal databases.
False
XBRL GL offers an extensible, multinational solution that can exchange the data required by internal finance, accountant, and creditors
Flexibility
How many copies of the ledger are in a blockchain network with 4 participating nodes?
Four
The steps in business intelligence include
Gather Information, Analyze Data for Patterns, Make Decision
The ISO 27000 series are a framework for:
Information security management
What is considered a control environment factor by the COSO definition of internal control?
Integrity and ethical values
Which of the following best describes the purpose of the slicer for pivot tables?
It filters the output of the pivot table.
What chart is used to show trend over time?
Line charts
Which of the following best describes machine learning?
Machine learning is a technique where a software model is trained using data.
Provide management an d information technology governance model that helps in delivering value from IT and understanding and managing risks associated with IT
Main purpose of COBIT 2019
Improve quality of financial reporting through internal controls and corporate governance
Main purpose of COSO 2013
Expand internal controls to provide broader view on risk management to maximize the firm value
Main purpose of COSO ERM 2004
Provide a framework and guidelines for information security
Main purpose of ISO 27000 series
Manage IT infrastructure and service delivery
Main purpose of ITIL
What is not an objective of what-if analysis?
Predict future sales
What type of analysis would address the question of whether a customer will ultimately pay if credit is granted?
Predictive analysis
If we wanted to know what grade we needed to get on the final in this class based on our expected performance before the final, we would call that _____________ analysis?
Prescriptive
Which type of analytics would be associated with finding the sales amount needed to break even?
Prescriptive
metrics used to assess the performance of a model?
Recall, Accuracy, Precision
permits the representation of information using traditional summaries and through flexible links
Reporting independence
Avoiding, accepting, reducing and sharing are components of _____ in Enterprise Risk Management?
Risk Response
The organization considers the potential fraud in assessing risks to the achievement of objectives
Risk assessment
Which group required the use of XBRL by all of its members?
SEC
what body mandated that operating firms in its jurisdiction submit their financial reports using XBRL?
SEC
Any developer can create import and export routines to convert information from any system to XBRL GL format
System independence
Which of the following best describes reinforcement learning?
The model learns by trial-and-error.
True/False: A firm must establish control policies, procedures, and practices that ensure the firm's business objectives are achieved and its risk mitigation strategies are carried out.
True
True/False: COBIT (Control Objectives for Information and related Technology) is a generally accepted framework for IT governance in the U.S.
True
True/False: Corporate governance is a set of processes and policies in managing an organization with sound ethics to safeguard the interests of its stakeholders.
True
True/False: Data warehouses are often designed to facilitate decision making such as those often used in managerial accounting and facilitate management by exception, such as variance reports, trend reports, variance analysis reports, and reports that show actual performance are compared to budgeted information.
True
True/False: In a computerized environment, internal controls can be categorized as general controls and application controls.
True
True/False: Internal controls help safeguard an organization's assets.
True
True/False: Regarding IT control and governance, the COBIT framework is most commonly adopted by companies in the US
True
True/False: The main objective of the ISO 27000 series is to provide a model for establishing, implementing, operating, monitoring, maintaining, and improving information security.
True
Ture/False: Data Mining is a process of using sophisticated statistical techniques to extract and analyze data from large databases to discern patterns and trends that were not previously known.
True
What does not facilitate business decision-making activities?
UML Class Diagram
What v? Financial statement data that appears in tables
Variety
What v? data coming in at fast speeds or in real time, such as streaming videos and news feeds
Velocity
What v? data with a lot of missing observations
Veracity
What v? opinions or facts
Veracity
What v? all twitter data from 2021
Volume
What v? the massive amount of streaming data involved
Volume
Big Data is often described by the four V's, or
Volume, Velocity, Veracity and Variety
Which type of question does descriptive analysis address?
What happened?
Which type of question does prescriptive analysis address?
What should we do based on what we expect will happen?
a document containing XBRL elements
XBRL Instance document
provides the underlying technical details of what XBRL is and how it works
XBRL Specification
defines and describes each key data element
XBRL Taxonomy
Adds presentation elements to XBRL instance documents to make them more readable to people
XBRL style sheet
When we refer to smart contract in blockchain, we mean:
a piece of software code that can be executed or triggered by business activities.
Control that are designed to prevent, detect, or correct errors in transactions as they are processed through a specific subsystem are referred to as
application controls
Intelligence exhibited by machines rather than humans.
artificial intelligence
a computer-based technique for accumulating and analyzing data from databases and warehouses to support managerial decision making
business intelligence
computer based technique to analyze data
business intelligence
Summarizes data in a range, table, or external data source Users can choose subtotals and grand totals it can include multidimensional summaries by designating row and column categories users can format the numbers in the Values feild
characteristics of a pivot table
A data warehouse may include:
competitor information.
It is a table summarizing the prediction results.
confusion matrix
A selected set of organizations may run a blockchain node separately for keeping the transaction records. Administrators from the organizations establish the access rights and permissions for each participant. This type of blockchain is often called:
consortium blockchain
The organization deploys control activities through policies that establish what is expected and procedures that put policies into place
control activities
The organization holds individuals accountable for their internal control responsibilities in the pursuit of objectives
control environment
the five essential components in the COSO 2013 framework
control environment control activities monitoring activities information and communication risk assessment
A digital dashboard tracks, in a user-friendly way:
critical business processes.
A subset of the information from the data warehouses to serve a specific purpose
data mart
a subset of a data warehouse
data mart
what technique is used to analyze data for business intelligence purposes?
data mining
A graphical representation that presents information to decision makers
data visualization
a collection of information gathered from an assortment of external and operational databases to facilitate reporting for decision making and business analysis
data warehouse
XBRL stands for
eXtensible Business Reporting Language.
XBRL GL, or XBRL GLobal Ledger Taxonomy, is different from XBRL U.S GAAP because it facilitates
efficient communication within a firm
What isnt a component of COSO ERM?
external environment and internal control evaluation
True/False: ITIL is the best internal control framework for the high-tech industry
false
Access control to ensure only authorized personnel have access to a firm's network is a:
general control
the organization obtains or generates and uses relevant, quality information to support the functioning internal control
information and communication
blockchain is analogous to
ledger
Machine learning is a technique by which a software model is trained using data.
machine learning
Ben goes to his bank to wire transfer $1,000 to his sister Jennifer. The role of the bank in this transaction is best described as:
middleman.
the organization evaluated and communicates internal control deficiencies in a timely manner to those parties responsible for taking corrective action, including senior management and the board of directors, as appropriate
monitoring activities
What type of blockchain does not restrict participation in the network?
public
Under COSO ERM framework, What objective involves parties external to the organization?
reporting objectives
technologies used in blockchain
smart contracts for business rules, hashtags, cryptography
The training data contain input—output pairs
supervised learning
True/False: Internal control is a process consisting of ongoing tasks and activities
true
True/False: employees at any level of an organization play a role in internal control
true
true/false: internal controls can provide reasonable assurance only
true
The training data only include input values.
unsupervised learning
What v? unstructured and unprocessed data, such as comments in social media, emails, global positioning system measurements, etc
variety
What v? stock market data that updates every 5 seconds
velocity