Workshop Title:

The Application of Solver in Accounting

Date:

March 24th, 2023 (GMT+13)

Organizer:

Business School, The University of Auckland

Keywords:

  • Allocation of Service Department Costs
  • Solver Technique
  • Reciprocal Method
  • Cost Accounting
  • Management Accounting Tool

Workshop Chair:

Dr. Davood Askarany
Senior Lecturer in The University of Auckland

Personal Bio:

Dr. Askarany is a leading researcher in the diffusion of management accounting innovations in New Zealand. He has successfully received funding for and conducted significant research projects in this area within Australia, New Zealand, the U.K., and the Middle East. His research and professional interests primarily rest in the diffusion of innovation, management accounting, organisational change, performance measurement, and diffusion theory.

He has published extensively in these areas for both academic and professional outlets. Davood has authored over 100 academic papers and book chapters, including 12 A* and A publications (in the International Journal of Production and Economics, Critical Perspectives on Accounting, International Journal of Accounting, Automation in Construction) and the Encyclopaedia of Information Science and Technology.

Most of his publications have been ranked among the top ten downloads by Social Science Research Network (SSRN). According to SSRN and Research-Gate's websites, some of his papers have been downloaded more than 17,000 times from SSRN, more than 84,000 times from Research Gate's websites, and much more from journals' websites, databases, and E-journals homepages. According to SSRN, he is currently in the top 10% of Authors (out of 353,000+) on SSRN by all-time downloads.

Workshop Description:

Background:

The cost allocation method is essential to a company's cost accounting system to determine the cost of a product, service, customer, or other cost objects. Less than half of most companies' operating costs can be traced directly to products and services. The rest of a company's costs must be allocated using a cost-allocation base or left unallocated. In this workshop, we show you how to use the Solver option in Excel to allocate service departments' costs to operating departments.

Goal / Rationale:

Many of the global concerns on sustainability and ESG are so preeminent that they seem insurmountable. We encourage research that are both informative and persuasive, supported by empirical facts, or original data analysis. Papers on sustainability, in any sense of the word, based on topics in economics, finance, management, business studies, marketing, technology, and human resources, … are all welcome. We particularly encourage participants to think about one of the following questions (see next section). The workshop will address two themes: (1) how to think about sustainability and ESG in research in economics, management, business, and finance; (2) how to critically evaluate and critique the recent advances in research about the topics, given the recent shifts in governments and firms' objectives regarding sustainability and ESG goals.

Scope and Information for Participants:

Accurate costing is the fundamental factor for proper decision-making in organisations. This workshop shows you how to allocate the costs of supporting departments to the production department using the solver function.

This workshop shows you how to develop your cost functions and define supporting and production departments in a mathematical way to be understood by excel. Then it takes you step by step to install and runs the solver function to allocate the costs of the supporting department to production departments; it defines each cell in the excel file and describes the procedures operated on each cell by the solver. Then it interprets the results and checks the solutions obtained by the solver function.

And finally, it represents the final costs of production departments after receiving the costs of supporting departments.

Highlights:

Accurate costing is the fundamental factor for proper decision-making in organisations. This workshop shows you how to allocate the costs of supporting departments to the production department using the Solver function.

One of the most useful features of Excel is its Solver function, which allows users to find the optimal solution for a problem by changing specific variables in a spreadsheet model. Solver is particularly useful for problems that involve complex calculations and multiple constraints, such as optimisation, scheduling, and resource allocation. With Solver, users can input different sets of variables and constraints, and Excel will automatically adjust the values to find the best solution based on a specified objective function. This feature has made Excel an invaluable tool for decision-makers, researchers, and analysts who need to make informed choices based on quantitative data.

This workshop shows you how to develop your cost functions and define supporting and production departments in a mathematical way to be understood by excel. Then it takes you step by step to install and run the solver function to allocate the costs of the supporting department to production departments; it defines each cell in the excel file and describes the procedures operated on each cell by the Solver.

Access to Workshop:

ICMRED 2023 Workshop: The Application of Solver in Accounting - Youtube

Venue:

The University of Auckland, Auckland CBD, Auckland 1010

VISA:


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