The remainder of this article is addressed to the task of considering a course of this kind which is adapted to the use of university schools of business administration, a course to meet the needs of both advanced undergraduate and graduate students. The method which is described here uses several different means of instruction. One way in which a text book has been used to good advantage by the writer in the instruction of his students has been to assign to them the entire book to be read rapidly during the first week, indicating to them the parts which can be skipped at this first reading as well as the parts which should be glanced at more thoroughly than the others. It is often satisfactory to assign readings therein and then give the students a chance to ask questions in class about any of the points which have bothered them. It will often be found that such questions show that the students have failed to read the text with sufficient care aid directions to look up the answers to their own questions.

At the present time it is becoming more generally recognized than formerly that a business concern is made up of a series of interlocking activities or functions. To a considerable extent the administration of a business means the adequate and thorough control of the major functions. To facilitate this administration, various devices are set up, the purpose of which is to supply information to the executive or to aid him in putting into effect the policies which have been adopted. One of the means of control which has been receiving an increasing degree of attention in recent years is factory cost accounting. Hence one of the tasks which has confronted university schools of business is that of teaching their students something of the nature, operation and use of the system of records and accounts by means of which information concerning factory costs may be obtained. While a system of cost accounts and records may serve various ends, in most instances its primary reason for being is that it provides a very valuable means of control for the assistance of the general manager, his associates and assistants.