UEL Training To Get The Most Out Of Today Check in & Check out form provided for each session Participate, ask questions, speak so everyone in the classroom can hear you Turn your phones into silent m[.]
To Get The Most Out Of Today…… Turn your phones into silent mode and clear other distractions away from your training area Participate, ask questions, speak so everyone in the classroom can hear you Camera is not allowed during training sessions for any purposes Any violation will be reported Check-in & Check-out form provided for each session MOU 2022- KPMG and UEL Ho Chi Minh City — Oct 2022 Objectives On completion of sessions, you should be able to: ✓ Understand the concept of data, dataset and database; ✓ Explain the role of data analysis and practical data analysis processes in auditing; ✓ Widen understanding of data analytics tools; ✓ Improve technical skills in data processing with Microsoft Excel (version 2016 or higher); ✓ Perform General Ledger & Trial Balance reconciliation; ✓ Understand the concept of Master Lead Sheet; ✓ Apply Power Query, Power Pivot & slicers in data processing; and ✓ Get familiar with applications of data analysis in auditing © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved Document Classification: KPMG Confidential Table of Contents Introduction Session Session 1 Data, dataset & database Power Query Data analysis & data processing Power Pivot Data analytics tools Slicers Microsoft Excel & basic functions Journal Entry Testing ("JET") Quiz session Sales Analysis Quiz session Assessment Session General Ledger ("GL") Trial Balance ("TB") GL & TB Reconciliation Master Leadsheet (”MLS”) Relationship between MLS, TB, GL & working papers Fixed Asset (“FA”) working paper Quiz session Exercise (Homework) © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved Document Classification: KPMG Confidential Interesting facts about data ✓ The worldwide data volume doubles ✓ Every human created about 1.7 MB of data per second University, 2021) ✓ every two years (Forbes, 2018) (Northeastern of all data in the world created in the last two years (Forbes, 2018) ✓ It would take ~ over 150 million years to internet at 100 Mbps (~12 Mb/s) all the data from the ✓ Between 2020 & 2024, unique/replicated data ratio from 1:9 to 1:10 (Statista, 2021) is projected to change ✓ Only 0.5% of all data is ever analyzed and used (IDC, 2020) ✓ Over 80% of the data generated is unstructured (CIO, 2019) ✓ Data analytics top benefits: 25% faster innovation cycles; 17% improved business efficiencies/higher productivity; 13% more effective R&D; and 12% product/service (Chicago Analytics Group) © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved Document Classification: KPMG Confidential Structured & unstructured database © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved Document Classification: KPMG Confidential © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved Document Classification: KPMG Confidential Data Inflation Unit Size How large it is Bit (b) or The smallest piece of computer information or storage 1/8 of a character Byte (B) bits The basic unit of computing One byte can store one character (e.g ‘A’, ‘$’, ‘x’) Kilobyte (KB) 1,000, or 210, bytes One page of typed text is 2KB Megabyte (MB) 1,000KB, or 220, bytes An MP3 song is about 4MB Gigabytes (GB) 1,000MB, or 230, bytes A two-hour film can be compressed into 1-2GB A 1GB text file contains over billion characters Terabyte (TB) 1,000GB, or 240, bytes Common storage capacity of laptop’s hard drive in 2022 Petabyte (PB) 1,000TB, or 250, bytes The movie Avatar needs about PB of storage to render all graphics Exabyte (EB) 1,000PB, or 260, bytes If one Gigabyte is the size of the Earth, an Exabyte is the size of the Sun Zettabyte (ZB) 1,000EB, or 270, bytes Current data era ~80 ZB of data created by 2022 (IDC’s Data Age 2025 study) Yottabyte (YB) 1,000ZB, or 280, bytes 1YB of data will be generated annually worldwide (Huawei) © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved Document Classification: KPMG Confidential © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved Document Classification: KPMG Confidential I ➢ What is Data? — facts or information, especially when examined and used to find out things or to make decisions (Oxford Learner’s Dictionaries, 2022) — collection of raw facts or figures (Librarianship Studies & Information Technology, 2019) — individual facts, statistics, or items (OECD Glossary of Statistical Terms, 2018) — set of values of qualitative or quantitative variables about one or more persons or objects (Australian Bureau of Statistics, 2013) Example: 09052022 BP © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved Document Classification: KPMG Confidential 10 I I ✓ © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved Document Classification: KPMG Confidential 29 I I ✓ Slicers provide buttons that you can click to filter tables or Pivot Tables In addition to quick filtering, slicers also indicate the current filtering state, which makes it easy to understand what exactly is currently displayed ✓ Slicer components: A slicer header indicates the category of the items in the slicer A filtering button that is not selected indicates that the item is not included in the filter A filtering button that is selected indicates that the item is included in the filter A Clear Filter button removes the filter by selecting all items in the slicer A scroll bar enables scrolling when there are more items than are currently visible in the slicer Border moving and resizing controls allow you to change the size and location of the slicer © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved Document Classification: KPMG Confidential 30 I I ✓ ✓ An audit procedure to obtain audit evidence that the journal entries and other adjustments: • are not materially misstated due to fraud; • are appropriately supported; • reflect the underlying events, conditions or transactions; and • are recorded in the proper accounting period consistent with the financial reporting framework Practice @ KPMG: Interview with clients to identify high risk routines/criteria Obtain General Ledger & Trial Balance Data processing Perform Completeness Test Identify high risk Journal Entries Perform test of details and documentation © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved Document Classification: KPMG Confidential 31 I I For a company operating in Food & Beverage industry, what sales trend could be when: Company reduce selling price by 10% leading to the increase of sale volumn by 20% Company lost some contracts with current suppliers One of three storehouses of company is damaged due to natural disaster New entrants are easily to join the market A minor change of current products meet consumers’ expectation The city is locked down due to covid-19 pandemic Tet holiday is approaching © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved Document Classification: KPMG Confidential 32 I I ✓ An in-depth analysis in sales performance of a business to identify any abnormal points for further testing in several aspects © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved Document Classification: KPMG Confidential 33 I I ABC is a company operating in the field of importing and distributing consumer products of international companies in Vietnam market Company’s product category includes Cake, Candy, Butter, Milk, Cheese, Convenience foods, Food supplement, Beverage, Spices & Ingredients… Based on below charts on Sales of the company in the current year 2020 and prior year 2019, you - as an auditor - must perform preliminary analysis to identify whether any abnormal features on sales performance You may use your own reasonable assumptions to support your analysis © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved Document Classification: KPMG Confidential 34 I I Some questions you could consider for preliminary analysis: How is the sales trend during the period? (Increase, decrease, fluctuate, bottom, peak…) What factors could affect on this trends? (quality, price, cost…) How business & industry factors could affect company's operation? (trade war, pandemic, disease, policies, seasonality, demands … © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved Document Classification: KPMG Confidential 35 I I ✓ Quiz session with 10 question in a MS Form ✓ An opportunity to quick check your understandings about the whole training ✓ Try to it by yourself © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved Document Classification: KPMG Confidential 36 I I ✓ Recall the content of all sessions ✓ An opportunity to practice, improve your technical and analytical skill © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved Document Classification: KPMG Confidential 37 Reference https://www.cio.com/article/220347/ai-unleashes-the-power-of-unstructured-data.html https://www.huawei.com/minisite/giv/Files/whitepaper_en_2018.pdf https://financesonline.com/how-much-data-is-created-every-day/ https://blog.neosit.com/en/10-mind-blowing-facts-about-big-data https://firstsiteguide.com/big-data-stats/ https://www.sigmacomputing.com/blog/top-20-big-data-statistics/ https://www.datacamp.com/blog/25-interesting-facts-about-data-science https://techjury.net/blog/big-data-statistics/#gref https://www.import.io/wp-content/uploads/2017/04/Seagate-WP-DataAge2025-March2017.pdf https://www.networkworld.com/article/3325397/idc-expect-175-zettabytes-of-dataworldwide-by-2025.html https://www.techtarget.com/searchstorage/definition/yottabyte#:~:text=A%20yottabyte%20 is%20the%20largest,or%20a%20million%20trillion%20megabytes https://www.digitalinformationworld.com/2019/04/chart-global-data-creation-forecasts.html https://www-file.huawei.com/-/media/CORP2020/pdf/giv/Intelligent_World_2030_en.pdf https://www.dataversity.net/only-0-5-of-all-data-is-currently-analyzed/ © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved Document Classification: KPMG Confidential 38 Reference (continued) https://www.cio.com/article/220347/ai-unleashes-the-power-of-unstructured-data.html Catherine Chiang, In the Machine Learning Era, Unstructured Data Management is More Important Than Ever, Igneous, July 31, 2018 https://hrcak.srce.hr/file/394317 https://www.datapine.com/blog/data-analysis-methods-and-techniques/ https://firstsiteguide.com/big-data-stats/ https://www.scidev.net/global/features/big-data-for-development-facts-and-figures/ https://firstsiteguide.com/big-data-stats/ https://www.raconteur.net/infographics/a-day-in-data/ http://products.abc-clio.com/ODLIS/odlis_d https://www.datatelling.eu/what-is-data-storytelling/ https://www.pinterest.com/pin/339107046944473473/ https://irishtechnews.ie/seven-reasons-why-excel-is-still-used-by-half-a-billion-peopleworldwide/#:~:text=Excel%20is%20used%20by%20an,Microsoft's%20most%20important %20consumer%20product%20 https://docs.microsoft.com/en-us/deployoffice/compat/office-file-format-reference © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved Document Classification: KPMG Confidential 39 Reference (continued) https://irishtechnews.ie/seven-reasons-why-excel-is-still-used-by-half-a-billion-peopleworldwide/#:~:text=Excel%20is%20used%20by%20an,Microsoft's%20most%20important %20consumer%20product%20 https://exceed.hr/blog/power-query-powerful-excel-feature-you-should-start-using-rightaway/ https://p3adaptive.com/2017/05/dax-first-power-query-second/ https://powerquery.microsoft.com/en-us/ https://support.microsoft.com/en-us/office/power-pivot-overview-and-learning-f90019587901-4caa-ad80-028a6d2432ed https://support.microsoft.com/en-us/office/create-a-data-model-in-excel-87e7a54c-87dc488e-9410-5c75dbcb0f7b https://support.microsoft.com/en-us/office/power-pivot-overview-and-learning-f90019587901-4caa-ad80-028a6d2432ed https://slideplayer.com/slide/7556938/ https://lawtomated.com/structured-data-vs-unstructured-data-what-are-they-and-why-care/ http://digilib.k.utb.cz/bitstream/handle/10563/49919/bohunick%C3%BD_2021_dp.pdf?seq uence=-1&isAllowed=y © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved Document Classification: KPMG Confidential 40 Q&A Survey Thank you kpmg.com/socialmedia The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future No one should act on such information without appropriate professional advice after a thorough examination of the particular situation © 2022 KPMG Limited, KPMG Tax and Advisory Limited, KPMG Law Limited, KPMG Services Company Limited, all Vietnamese one member limited liability companies and member firms of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee All rights reserved The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization Document Classification: KPMG Confidential