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Cost Accounting Procedure

Cost Accounting Procedure


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Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: tween the lines of his cost reports and translates his cost figures into terms of better management methods. Accurate Costs Affect Public Policy. The slogan of modern industrial competition is live and let live, and cost accounting has done valuable service in putting this very commendable policy into effect, because it makes intelligent competition possible. To that extent it tends to safeguard the entire commercial and industrial structure. Every failure in industry is a loss to society and a blow to the particular industry affected. Every failure of consequence affects the markets, credit arrangement, production, and prices. To know costs, assuming that other industrial factors are normal, prevents failure, because competition is then based upon knowledge. The result is that the entire industrial machine runs smoothly, and the waste and ruin engendered by unfair competition are avoided. Proper cost information has a direct effect upon national economy and prosperity. If all businesses were equipped with adequate cost systems, society would be the beneficiary in an amount which would be staggering in its immensity. This would be especially true if all the leaks and inefficiencies revealed thru cost analysis were stopped. Simplicity an Essential Factor. It is important that cost systems be essentially simple. The author has investigated systems so befogged by meaningless forms calling for useless information that he was thoroly in accord with the disgust displayed by the management because of the absurd expenditure of time, money, and effort necessary to record facts which were never used. Cost accounting, after all, is merely the application of sound accounting principles garnished with common horse sense and mixed with the power of interpretation and analysis. ...


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Product Details
  • ISBN-13: 9780217915441
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 76
  • Spine Width: 4 mm
  • Width: 189 mm
  • ISBN-10: 0217915442
  • Publisher Date: 20 May 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 154 gr


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