{"title":"Incorporating Data Analytics in Management Accounting: A Teaching Case on Cost Estimation","authors":"James W. Hesford, Mina Pizzini, Michael J. Turner","doi":"10.2308/issues-2022-064","DOIUrl":null,"url":null,"abstract":"ABSTRACT Management accounting tools are based on the idea that total costs are composed of fixed and variable components. Textbooks usually teach five methods to identify fixed and variables costs, including two that are outdated (scatterplot and high-low). Account analysis and industrial engineering are sometimes useful, but regression is best for its objectivity. Despite its importance, few cases address cost estimation using regression. This case requires students to use regression analysis to estimate a cost function from 108 monthly observations of unit-level data from a hotel chain. Although the case is intended for use with R or Python, instructors can also use Excel. Students learn how to address important data and model specification issues, including outliers, autocorrelation, and inflation. Students are excited to acquire relevant tools and skills they can apply to future work projects.","PeriodicalId":1,"journal":{"name":"Accounts of Chemical Research","volume":null,"pages":null},"PeriodicalIF":16.4000,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Accounts of Chemical Research","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2308/issues-2022-064","RegionNum":1,"RegionCategory":"化学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"CHEMISTRY, MULTIDISCIPLINARY","Score":null,"Total":0}
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Abstract
ABSTRACT Management accounting tools are based on the idea that total costs are composed of fixed and variable components. Textbooks usually teach five methods to identify fixed and variables costs, including two that are outdated (scatterplot and high-low). Account analysis and industrial engineering are sometimes useful, but regression is best for its objectivity. Despite its importance, few cases address cost estimation using regression. This case requires students to use regression analysis to estimate a cost function from 108 monthly observations of unit-level data from a hotel chain. Although the case is intended for use with R or Python, instructors can also use Excel. Students learn how to address important data and model specification issues, including outliers, autocorrelation, and inflation. Students are excited to acquire relevant tools and skills they can apply to future work projects.
期刊介绍：
Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance.
Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.
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