Abstract The article stresses that accounting for values should be viewed as reliable if it is accomplished within the framework of the same basic requirements, which have contributed to the reliability of cost data. In accounting for values to be realized by the specific enterprise, the continuity assumption renders irrelevant any value, which does not relate to managements plan, normal operations, and the specific market commanded by the firm. Hence, it is value to the owner, not value in general, that is of interest in this proposal; and this value is the amount, which the owner will realize from his assets in their planned use, not the amount for which others in the industry are buying similar or identical assets. Therefore, valuations based on economy or industry indexes are irrelevant to this analysis. The most vital issue in selecting a valuation basis is, therefore, one of determining whether the particular valuation basis depends on information to which we have present access that presumably holds the most valid relationship with the future flow of revenue.

Reviews the book "Cost Accounting for Management Applications," by David H. Li.

Abstract This article focuses on a study which showed the implicit assumptions in mix and yield variance analysis. A mix situation may exist whenever more than one direct material is specified as an input of the standardized operations. Mix variance can be described in two ways: (a) the sum of individual actual quantities times the individual standard unit prices less the sum of actual quantities at the weighted average standard price (based on standard quantities and mix) or (b) the sum of actual quantities times individual standard prices less the computed normalized mix quantities at individual standard prices. The normalized mix quantities are computed for each material by applying the standard proportions for each to the total actual inputs defined in quantity terms. A necessary condition then for the analysis of mix and yield variances, by the methods described, is the establishment of a common unit of measurement of the quantities of the different material inputs.

Journal Article Price Changes and the Rate of Change of Money Wage Earnings in the Light of American Data Get access Charles C. Holt, Charles C. Holt University of Wisconsin Search for other works by this author on: Oxford Academic Google Scholar Kyu Sik Lee Kyu Sik Lee University of Wisconsin Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 81, Issue 2, May 1967, Pages 347–350, https://doi.org/10.2307/1879594 Published: 01 May 1967