Accounting Statistics - Analysis of Sampling Techniques and Methods

This assignment delves into the realm of accounting statistics, focusing on sampling techniques to create representative samples. It begins by outlining the best approach to sampling when the entire population is accessible, emphasizing the use of probability sampling methods, such as random sampling, and providing real-world examples like auditing. The assignment then addresses scenarios where subjects are difficult to find, recommending non-probability methods, such as snowball sampling, and illustrating its application. The solution provides clear explanations of each sampling method, supported by relevant examples, and references the source of information. This assignment is aimed at helping students understand the practical applications of sampling in accounting, enabling them to make informed decisions in data collection and analysis.

Running Head ACCOUNTING STATISTICS 1
Accounting Statistics
Student’s Name
Institutional Affiliation

ACCOUNTING STATISTIC S 2
Accounting Statistics
1. What is the “best” approach to sampling to produce a representative sample given that
you have access to the entire population of interest?
The use of probability sampling methods in the selection of a sample is the best way to
ensure a representative sample is chosen from a population. There are several probability
sampling methods. For instance, the simple random sampling method can be used to select a
representative sample. In random sampling, each subject or object has an equal chance of
being included in the sample (Acharya, Prakash, Saxena & Nigam,2013). The sample can,
therefore, be said to be representative considering that the traits of a well-drawn sample are
similar to the parent population in all ways. This is done using random numbers or random
numbers generator to select some entries to include.
An example of this, is when doing an audit in a big firm. Auditors will have to spend
months to examine each and even voucher issued by the finance department. When doing an
audit, using random numbers, the auditor can pick serial numbers of vouchers where audit
can be done.
2. And, when subjects (people) in your evaluation are hard to find, what might be the best
approach to sampling?
When sampling units are hard to find, non-probability methods can be used. The methods are
used when the researcher has a little budget, and require to pick a sample conveniently or using
personal judgment. One of these methods is snowball sampling. This is when the researcher uses
his or her initial respondents to refer to the next subject.
An example of this is when one is interested to conduct a sample to examine the traits of
people who go jogging in a parking every evening. Using one of the respondents, it is possible to

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get the contact of the next respondent. This is a quick and accurate way to select a sample
(Emerson, 2015).
References

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Acharya, A. S., Prakash, A., Saxena, P., & Nigam, A. (2013). Sampling: Why and how of it.
Indian Journal of Medical Specialties, 4(2), 330-333.
Emerson, R. W. (2015). Convenience sampling, random sampling, and snowball sampling: How
does sampling affect the validity of research?. Journal of Visual Impairment & Blindness,
109(2), 164-168.