Howard R. Toole

Use of Student Field-Based Consulting in Business Education: A Comparison of American and Australian Business Schools.

This study reports the results of a comparative study of American business schools and Australian schools of commerce regarding utilization of field-based consultancy and associated critical variables. Respondents in the survey were 141 deans of Association to Advance Collegiate Schools of Business (AACSB) accredited business schools in the United States and 71 heads of Australian commerce programs. Overall, student field-based consultancy is widely used in both countries. This indicates that it should be possible to implement international field-based consultancies between American and Australian business schools, which would, in turn, lead to increased potential for international study abroad for business students of both countries.

Predictive Performance Evaluation Measures: Field Study of a Multi-Outlet Business

Abstract It is frequently suggested that accountants need to develop more comprehensive predictive measures of performance. In response, several predictive deterministic models have been proposed in the literature. This paper explores the feasibility of developing predictive statistical models of performance for revenue and profit centres. A large national retail organisation was selected to field test the applicability of such a model. The results indicate that a statistical model can detect significant differences in outlet performance in a multi-outlet firm, providing performance information useful for managerial evaluation. The methodology developed can be applied to performance evaluations in many retail firms.

Field-based business consulting practice in Australian University commerce education

Abstract This paper deals with the role of field-based consultancy in Australian commerce education. Field-based consultancy is a form of service learning which is becoming increasingly popular in the United States. This paper replicates the methodology of a previous American study and extends it to an Australian context. A large-scale Internet study of university web sites resulted in the identification of administrative personnel, with similar organizational responsibilities to AACSB deans in U.S. business schools, at 41 Australian universities. A total of 157 heads of Commerce programs were identified. Each was sent a survey questionnaire, with a second mailing approximately two weeks later. A total of 71 were received, yielding a response rate of 45%. Analyses of the responses to the Australian survey indicate a very similar penetration of field-based methodology to that found in the United States. It appears that field-based consultancy, which is very appropriate for small business education, is being used to a wide degree in both American and Australian universities. Given the similarity of the survey responses, Australian higher education, the Australian economy, and the lack of a major language barrier, this result suggests the possibility of implementing international field-based consultancies between American and Australian universities.

A Survey of Factory Automation Topics in Managerial and Cost Accounting

Abstract There have been many changes in recent years in the way the modern American factory operates. For many firms facing stiff domestic or foreign competition, the changes have been organizational and fall under the heading of “modern factory management” or the “Japanese style of management.” This paper surveys the extent to which accounting-related modern factory management topics are taught in introductory managerial and cost accounting courses at AACSB accredited accounting institutions. Also shown is the extent to which accounting faculty wish to include accounting-related modern factory material in future offerings of these courses. The results indicate a desire to increase the coverage of modern factory accounting concepts in classes. Even with the desired increase in coverage, modern factory topics are expected to represent only 27% of future course content.

Evaluating multiple sign change and mixed projects using the return on invested capital model

Abstract While the NPV and IRR models usually lead to correct and intuitively clear long-term investment decisions, there is a class of ‘mixed’ projects with both investment and financing phases in which the possibility of multiple rates of return and intuitive inconsistencies can arise. Because of the increased frequency of leveraged leases, these issues have taken on added importance. Practitioners are known to prefer a rate of return measure (usually the IRR) to the NPV model. However, the IRR model can result in analytical problems (e.g. multiple IRRs, no IRR, etc.) when used to evaluate the above mentioned types of projects. This paper illustrates the use of the return on invested capital (RIC) model, a generalization of the IRR, for evaluating investment projects. The RIC solves a number of analytical difficulties which can arise when using the IRR model. Seven examples, suitable for classroom use, are presented to illustrate the usefulness of the RIC model.