Document Type
Article
Publication Date
1922
Abstract
Some articles have been published dealing with accounting for oil or crude petroleum producers, but little has been written about accounting for oil refiners. Yet in this branch of the oil industry, accounting, and particularly cost accounting, is very essential to the success of the enterprise, and no oil refinery operates without some sort of cost keeping system. The rapid conversion of the raw material to the finished state and the consequent quick turnover of the product, the uncertainty of and frequent changes in the market prices and as a result the necessity of having accurate production and cost figures at all times, are reasons which make the cost accounting department an extremely important one in the oil refining industry. The particular system which is described is one used in a large refinery which produces various grades of fuel oils, gasoline and coke. Some refineries produce a much wider range of commodities, such as various grades of lubricants, paraffin, etc., but the principles underlying the accumulation of costs in either case are the same.
Relational Format
pamphlet
Series Title
Official Publications of the National Association of Cost Accountants, 1922 (June 15.), Vol. III, no. 18
Recommended Citation
Urbain, Robert and Mulhern, Joseph J., "Cost accounting in the oil refining industry" (1922). Publications of Accounting Associations, Societies, and Institutes. 78.
https://egrove.olemiss.edu/acct_inst/78