Document Type
Article
Publication Date
1921
Abstract
A cost system, in order to secure the best results, should, among other things, enable the manufacturing executive to know the departments or operations which require attention and thus enable him to reduce costs. A system that points out to the management wherein the actual performances differ from set standards, enables the management to concentrate on these differences and institute measures that are necessary to correct them. This article explains how standards are prepared and how comparisons of actual costs against standards are made. It also brings out how cost records are converted into efficiency data and gives a method of gauging production. It explains also the use made of reports covering departmental expense, efficiency and inventories.
Relational Format
pamphlet
Series Title
Official Publications of the National Association of Cost Accountants, 1921 (Oct. 1), Vol. III, no. 2
Recommended Citation
Scanlon, John M., "Costs as an aid to management" (1921). Publications of Accounting Associations, Societies, and Institutes. 115.
https://egrove.olemiss.edu/acct_inst/115