summer research
Starting to tackle some of my summer research/writing goals. What are your research goals for the summer? How can PACE be a part of them?
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PACE Academic IG
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Into Summer!
Hope everyone's spring term has wrapped up well. What are the goals for the summer? How can PACE be a part of it.
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Wrapping up the spring term...
Our spring semester is wrapping up, so how have you included profitability analytics in your courses this term?
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Who owns the model...?
Had a conversation with an alum recently. They had been working in a demand planning role officially housed in the supply chain unit, but working in close coordination with accounting/finance and were moving into an FP&A analyst role. As conversation progressed got to the question of "Who owns the model?". In many ways, our work in management accounting is being able to model how what we're doing turns into profit/loss. Supply chain does something similar, but their language is units instead of dollars. The IT folks run algorithms and stats when we can't do it ourselves. So, who ultimately owns the model is a core question, I think, and I would argue that accounting/finance is the proper place with a unique position to best manage the model.
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JP ... I am not a university faculty member or an academic. But I also have "research goals". A high priority one is to learn how AI can be used to create an activity-based costing (ABC) system.
One idea that I heard is that AI could create the "work activity dictionary". It is the ABC module of work activities located in between the ABC "Resources" module (i.e., ledger expenses) that the activities consume as activity costs ... and the ABC "Final Cost Objects" module that the activity costs are causally traced and assigned to the costs (e.g., products, service-lines, distribution channels, customers etc, costs). AI could do this unique to an industry (e.g., Insurance, Banking, Hospitals, Manufacturers, Distributors).