Class 7
Transaction Analytics: Identifying Unusual Activity
Description
This class introduces techniques for identifying transactions with unusual amounts, timing, characteristics, or other attributes. Identifying unusual transactions is important because exceptions can help accountants focus attention on activities that may require additional explanation or investigation.
Motivation
How can we identify transactions that deserve additional attention?
Review
The prior class used transaction data to understand normal patterns of business activity. This class extends transaction analytics by identifying observations that differ from those patterns, while emphasizing that unusual activity is not necessarily incorrect activity.