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Fall 2001

ISSN 0890-913X

Volume 17, Number 1

Categories: Fall 2001

A Microsoft Excel-based Aid for Learning Cost Estimation

J. Wilson Mixon Jr., Berry College

Gary S. Robson, Berry College

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AMicrosoftExcel-basedAidforLearningCostEstimationJ.WilsonMixon,Jr.BerryCollegeGaryS.RobsonBerryCollegeGooddecisionmakingrequiresgoodinformation.Toassistmanagementinthedecisionprocess,accountantsmustprovideaccuratepredictionsoffuturecostsand/orrevenues.Instrumentalinpredicatingcostsand/orrevenuesisdevelopingreliablepredictionmodels.Costestimationistheprocessofdevelopingthesepredictionmodels.Thepredictionmodels,orcostfunctions,requireaclassificationofcostsbybehavior,i.e.,estimatesoffixedandvariablecosts.Inmanagerialandcostaccountingclasses,discussionofcostestimationprocesseshelpinunderstandinghowcostfunctionscanbecreatedforpredictingfuturecostsandrevenues.Avarietyoftechniquesareavailable,dependinguponavailabilityofpriordataandthecosts/benefitsassociatedwitheachsituation.Afewofthetechniquestypicallycoveredareaccountclassification,engineeringstudy,scatter-graph,high-low,andleastsquaresregression.Thecoveragevariesdramaticallyamongtexts,oftenplacingtheburdenofin-depthstudyontheindividualinstructors.Thisrequiresinstructorstodevelopinstructionalmaterials.Thispaperreportsaweb-basedtoolthatprovidesmaterialsrequiringnofinancialcostsandlittleornotimecoststoaccountinginstructorswhodesiremoreenrichedinquiriesintocostestimation.ThispaperdescribesaMicrosoftExceltemplatethatfacilitatessuchinquiry.Theworkbookandanaccompanyingprimerareathttp://campbell.berry.edu/faculty/grobson/costest.html.Theworkbook

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Metadata [hide]

Title	A Microsoft Excel-based Aid for Learning Cost Estimation
Authors/Creators:	J. Wilson Mixon Jr., Berry College Gary S. Robson, Berry College
Year:	2001
Volume:	17
Number:	1
Pages:	81 - 84
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles

Citation:
Mixon Jr., J. Wilson; Robson, Gary S. / 2001. "A Microsoft Excel-based Aid for Learning Cost Estimation." The Journal of Private Enterprise, 17(1): 81-84.