chapter  12
6 Pages

Caldicott, G. Holt. "Chartered accountants as experts in commerce and manufacture," The Accountant (22 May 1897): 524-29

A good many manufacturers think they know all about costing, but those who have studied their systems in the majority of instances come to the conclusion that in a very large number of cases they are totally unacquainted with even the elements of the subject, and that their ideas are as defective in principle as in matters of detail. Another point upon which we feel constrained to join issue is the statement that the Stores Ledger is quite apart from the cost books, and has nothing to do with the financial books. The more the Cost Accounts are systematised, the easier will be his task, and the more efficient the manner in which is able to discharge his statutory duty. The concluding portion of paper, dealing with auditor's relations to the Cost Accounts, regard being specially valuable, but thinks the statement that it no part of the regular duty of an auditor to check the Cost Accounts is too sweeping.