Thursday, September 22, 2011

How is variance analysis applied in a service setting particularly in a school industry?

To all accounting experts or probably those attached in educational institutions.. you might help me....

I am conducting a study and its about an application of an accounting principle (variance analysis) in a particular industry (school industry). I usually get information about the application of variance analysis in a manufacturing setting. Would you guys please help me out? thank you very much!How is variance analysis applied in a service setting particularly in a school industry?
from what I remember of variance analysis, it is a tool that breaks down cost overages and underages by labor and materials. There may be other categories of cost that can be analyzed, such as fixed costs service etc.



First you have to determine what outcome you want to measure. Instead of 'costs', the outcome can be projected GPA lets say. You would then have to determine what 'costs' affect the GPA. Say, teacher/student ratio, class hours spent, homework time etc.



Hope this helps a little. Sounds like a bear of an assignment.
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