3 ms·
In real financial data you'll often see departures from the Benford's law. For example, if a company has $50 expense limit for dinner, you'll find a lot of inv
by jerzyt 6y ago
In real financial data you'll often see departures from the Benford's law. For example, if a company has $50 expense limit for dinner, you'll find a lot of invoices for $49.99.
Same goes with approval limits at different management level.
Not as useful in practice as in theory.
- craydandy 6y agoI've found the same. It sounds great and applicable but could not find any practical application with real data. Even when applied to large number of real companies' journal entries, the amount of false positives is overwhelming.