ABSTRACT
The stout volume before us on "Engineering Estimates and Accounts" compiled by a "General Manager" aims at remedying a defect in the training of young engineers, by affording them an insight into the commercial and financial side of an engineering establishment, in which department they rarely receive any systematic instruction, or have the opportunity afforded them of acquiring the knowledge necessary to enable them to prepare a formal tender or even to give a simple quotation. A most convenient way of checking the Cost and Stores Ledger is to have a "Cost Ledger total Account", and a "Store Ledger total Account" in the General Ledger. The author that such items as management, office expenses, and interest on capital should be treated as elements of the cost of production, and that every item of expenditure, even expenditure on Capital Account, should be passed through the Cost Books to ensure the satisfactory working of any scheme of cost keeping.
