ABSTRACT
The term "cost man" is used in the place of "costing", because it is the man who is responsible, practically entirely, for the success of the results rather than the mere system. The joint-stock principle of carrying on business, now almost universally adopted throughout the trade, has helped in a large degree to bring about these altered conditions of management. The cost man is the most confidential man in the shop, and can exercise a very real influence on results by the use of judicious diplomacy. The Return on Material shows the monthly balances carried by the various Ledgers representing the general stock, and the balances of the Departmental Controlling Accounts, which include the stock carried by the particular department as well as the value of the work in progress in that part of the shops. Good costing does not make good management, but good costing is invaluable to good management.
