Document Type
Article
Publication Date
1921
Abstract
Your Committee on Continuous Inventory of Fixed Capital was organized under the Accounting Section as outlined at the first monthly meeting of the Managing Committee “to canvass the industry, setting forth the advantages of maintaining a Continuous Inventory of Fixed Capital giving costs in detail, and to promulgate a standard routine, etc., for keeping such a record.� It is well perhaps to discuss at the start what is meant by a “Continuous Inventory of Fixed Capital� that we may all have in mind the same mental picture. The Committee defines a continuous inventory of fixed capital as a record of the physical units of plant and property, in conjunction with the financial record of construction expenditures, kept in such detail as to set forth clearly the identity and location of each unit and of each item of cost thereof. It may be described as a continuous record showing a complete description of each item of construction expenditure comparable with the ledger record of cost, and compiled with the same thoroughness. It should be in such form as to enable an engineer to identify it readily with the physical property.
Relational Format
pamphlet
Series Title
Report of 1921 Committee. American Gas Association
Recommended Citation
Johnston, Ernest and American Gas Association, "Continuous inventory of fixed capital" (1921). Publications of Accounting Associations, Societies, and Institutes. 126.
https://egrove.olemiss.edu/acct_inst/126