Using information in addition to book value in sample designs for inventory cost estimation

Article Abstract:

Research on the use of information in addition to book value for the design of samples for the estimation of inventory cost is presented. In auditing, stratified sample designs would be efficient if the stratification variable were related to the sources of errors. Stratified sampling for inventories uses the book value as the variable and is effective for estimating the cost of the total inventory. Information that is not provided by the book value can be obtained through other variables, including activity volume, but there is not much known about the effectiveness of sample designs based on other stratification variables. A model-based sampling paradigm is used to develop a bivariate stratification sample design method utilizing both book value and volume.

Methods, Statistical sampling, Sampling (Statistics), Inventory control

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Historical analysis - a diagnostic tool for 'events' studies: the impact of the Securities Act of 1933

Article Abstract:

The importance of historical inquiry to events studies is illustrated. A recent study of the impact of the Securities Act of 1933 is examined. There are three problems with the study: an undocumented test period, a lack of a control group, and an incorrect classification of events during the period examined. These problems invalidate the conclusion of the study, which was that the Act had a negative effect on stockholders.

Historical research

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