ABSTRACT
Nevertheless, the accounting profession in Australia is well established: modem accounting methods are known and practised and, in recent years, there has been extraordinary improvement in the art of accounting and in the status of the accountant in industry. In 1945, a research group of the Australasian Institute of Cost Accountants made a survey of inventory-accounting practices in Victorian industry. With the assistance of the Victorian Chamber of Manufacturers, the group addressed to a number of members of the chamber a questionnaire covering a variety of aspects of inventory accounting, including the extent to which standard costs were used. The public-accounting branch of the profession has been preoccupied with difficult problems of general accounting—the form of published financial statements, taxation, auditing, price-control and the like—and has had little time, and apparently less inclination, to interest itself in the development of cost accounting.
