This paper discusses a student research project that is part of an advanced cost accounting class. The project emphasizes active learning, integrates cost accounting with macroeconomics and statistics by "learning by doing" using real world data. Students analyze sales data for a publicly listed company by focusing on the company's growth rates in sales, and their growth rates in real sales by adjusting for inflation using the various consumer price indices or producer price indices that are available, and regressing the sales growth rates against macroeconomic variables such as gross domestic product and the various types of personal consumption expenditure items.