ABSTRACT

In this chapter the author's view as to Cost Accounts being within the radius of a professional accountant is borne out by Mr. John Mann, jun., CA, of Glasgow, in his paper given to the Society of the Accountants' Students upon Cost Accounts, and reported in your issues of the 29th of August and the 5th of September 1891, which is entitled "Notes on Cost Records; a Neglected Branch of Accountancy". Doubtless competition in trading has a tendency to make a "Cost Office" a distinct department. The accounts were then kept on what had been hitherto known as the Italian system, embracing the Trading and Cost Accounts jointly. At the Autumnal Meeting, held at Liverpool last month, during the discussion on Mr. Theodore Gregory's paper on the "Responsibilities of Auditors", Mr. Whinney stated that the figures in the assets of a Balance Sheet should represent facts.