ABSTRACT
A costing system properly based, run, and used, will produce all that he requires for purposes of control. One of the principal uses of the costing system is that it assists in the elimination of waste, which, after all, is the essence of scientific management. Sir Robert Horne, Minister of Labour, in a speech at a luncheon at the Aldwych Club, mentioned that the employers in a certain industry had said that the industry could not stand increased costs. Fixing proper rates for depreciation and building up records in respect of depreciation are two of the most difficult points in the accounting of any business. Sir Robert Horne, Minister of Labour, in a speech at a luncheon at the Aldwych Club, mentioned that the employers in a certain industry had said that the industry could not stand increased costs. Prime cost added to departmental overall cost gives total departmental cost.
