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March 18, 2026The Accounting Review

A Profit Planning Project in the Management Accounting Course.

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Authors

JBJames J. BenjaminDRDonald E. RickettsUniversity of Minnesota

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Implication

The project demonstrates the use of optimization and simulation for budgeting in accounting education, enhancing learning experiences.

Key Points

  • The aim is to integrate various planning tools into a cohesive project for management accounting students.
  • Implemented model building for practical problem-solving.
  • Utilized optimization techniques to improve operational planning.
  • Applied simulation to test budgeting scenarios.
  • Introduced decision rules for variance analysis.
  • Students faced limitations with slow output from budgeting tools.
  • Most students managed only two runs per day for their budget simulations.
  • Improvements anticipated with the introduction of PROFPLAN programs for faster feedback.

Cite This Study

Benjamin et al. (1973) studied this question.

synapsesocial.com/papers/69ba43764e9516ffd37a4c90https://doi.org/10.2308/tar-4482621
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Also Consider

Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context:

  1. 1Some Quantitative Approaches to Planning for Multiple Production Systems.1970
  2. 2Analysis of Production Process Performance Using Computer2025 · 1 citations
  3. 3Solving Financial Planning Problems Using Input-Output Models.1974 · 1 citations
  4. 4Multiple Objective Budgeting Models: A Simulation.1978
  5. 5An Accounting System Structured on a Linear Programming Model.1967