An audit test designed to provide evidence of the completeness, accuracy, and validity of accounting records and financial statements.
An annual basis is a statistical technique whereby figures covering a period of less than a year are extended to cover a 12-month period. The procedure, called annualizing, must take seasonal variations (if any) into account to be accurate.
Computer-Assisted Mass Appraisal (CAMA) refers to proprietary software used to make fast valuations of one or more real properties. This software ranges from simple tools that apply a fixed percentage increase to property values, to highly sophisticated systems that utilize complex statistical techniques to compare and consider other properties.
The process of extracting useful knowledge from the huge volumes of data kept in modern computer databases using sophisticated algorithms and statistical techniques.
Regression analysis is a statistical technique used to establish the relationship between a dependent variable and one or more independent variables. It is widely used in various fields to predict future values and measure the significance of different factors.
