Data & Analytics / Advanced

Power of Problem-Solving through Data Analysis

KPMG MADA Program Team

July 2024

Download:

Summary

This case study material is intended for use by graduate accounting faculty aiming to leverage a comprehensive data problem in the context of an audit engagement. From defining the problem all the way to communicating insights, students will build on the foundational data analysis skills and tools learned in the classroom to analyze and draw conclusions about a hypothetical company’s inventory calculation methods. The case is intended for students with a basic understanding of Alteryx, specifically its In/Out, Join, Transform, Preparation, and Documentation tools. The case study also provides students with background on the company’s inventory calculations and inputs needed to complete the assignment. All relevant data files are included.

Content

This case study, developed by the KPMG Master of Data and Analytics Program Team, has been designed to give instructors a meaningful way to give students exposure to analyzing large datasets. Students will not be able to use traditional methods (e.g., Excel) given the size of the input files, so students will incorporate Alteryx Designer. They will encounter data integrity and relevancy considerations, and the case also touches on soft skills incoming audit professionals need, such as effective client communication.

Target Audience
The primary target audience for this case is any graduate accounting course.

Learning Objectives
The learning objectives of this data-related case study are as follows:
1. Explain concepts surrounding an audit staff’s critical thinking skills and problem-solving process.
2. Describe the various methods to obtain client and industry knowledge upon starting a new engagement.
3. Understand how to identify your data problem or objective and what relevant data attributes are required to solve for your goal.
4. Understand various methods for evaluating the completeness and accuracy of data.
5. Explain various inventory costing methods and calculations.
6. Use Alteryx to calculate the company’s ending inventory, cost of goods sold (COGS), and purchase price variance (PPV) under one or both costing methods.
7. Conclude on whether the differences in costing methods rise to the level of material and determine how to proceed.