ABSTRACT
In the 'Accounting Terminology for Canadian Practice' prepared by the Committee on Accounting Terminology of the Dominion Association of Chartered Accountants, issued in 1938, authors find 'Accountant' described as 'one skilled in accountancy'. The term is also used to describe the Accountant's profession.' They may be permitted to substitute the word 'industry' for the words 'business or other organisations' in this definition and thus derive a description of our subject. It is therefore only natural that accountants in industry developed cost accounting as their special field. Cost accountants started to organise on this continent about the end of the First World War. The accountant in industry has also the permanent task of educating all members of the management team in its largest sense, i.e. from the president down to the last supervisor, foreman and lead-hand in financial matters.
