Journal Article Labour for The War Industries: The Experience of Coventry Get access A. Shenfield, A. Shenfield Birmingham Search for other works by this author on: Oxford Academic Google Scholar P. Sargant Florence P. Sargant Florence Birmingham Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 12, Issue 1, 1944, Pages 31–49, https://doi.org/10.2307/2296012 Published: 01 January 1944

Journal Article The Economies and Diseconomies of Industrial Concentration: The Wartime Experience of Coventry Get access A. Shenfield, A. Shenfield Birmingham Search for other works by this author on: Oxford Academic Google Scholar P. Sargant Florence P. Sargant Florence Birmingham Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 12, Issue 2, 1944, Pages 79–99, https://doi.org/10.2307/2296092 Published: 01 September 1944

Journal Article A Note on Selling Costs and the Equilibrium of the Firm Get access J. P. Hayes J. P. Hayes Oxford Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 12, Issue 2, 1944, Pages 106–109, https://doi.org/10.2307/2296094 Published: 01 September 1944

Abstract Many problems arising as the result of wartime conditions will continue to perplex for years after the war. Uncertainties which will be resolved only by future developments have in the past presented difficulties in accounting practice and have been a basis for criticism by some who hold the erroneous conception that accounting statements are by their nature intended to be exact and accurate representations of fact. Industries expect after the war a more or less protracted period of retooling, plant reconversion and rehabilitation and redevelopment of markets. In conclusion, a brief word should be said as to the general bearing these thoughts may have on accounting education. The educator is always confronted with the question of where the emphasis in curriculum and instruction should be placed as between teaching accounting techniques and development of understanding of principles, policies and underlying social sciences. Obviously, the man trained to recognize the significance of new situations and to meet them on the basis of an experienced judgment and a command of basic principles has been a more useful member of the profession in wartime than the narrowly-trained technician. This is likely to be true also in years to come.

Abstract Cost accounting is fundamentally an analytical approach to the development of useful and necessary specialized management information. Techniques are only chosen methods of analysis and reports are a device to report results. Whether or not formal accounting routines and records are used is a matter of convenience and internal check. One of the first difficulties met in teaching cost accounting is the fact that there is not even a single fundamental definition or idea of cost which will meet all requirements. Cost has many different meanings, with only an extremely indefinite unifying idea to justify the application of the same term in such widely varying senses. The economist has long recognized this fact and carefully differentiates different meanings he attaches to the word. The basic business approach to cost was one of financial outlay. As developed by accountants, the businessman's primary idea of cost has been one of a normal average amount, determined as the sum of an accumulation of direct factory outlays and of a reasonable proration of indirect factory outlays. By outlay he means actual use or consumption of goods or services for which he has paid or is obligated to pay cash. The future of industrial cost analysis is bright, for it is a vitally essential business service. It has shown and can be expected to continue to show a rapid development in the quality of its service to industry. There is a need for better-trained juniors to enter cost accounting as a career.

Abstract The article presents information on encumbrance accounting for industry. As soon as purchase orders or contracts are signed, the resulting obligations should be entered at once as encumbrances of the funds and appropriation affected. This is one of the principles laid down for municipal accounting by the National Committee. But it is just as appropriate for all organizations characteristics which make this kind of accounting desirable. The principle has been generally accepted both in theory and in practice, and has been recognized in laws governing this type of accounting. Inspection of published reports of municipalities shows that the principle is used in their accounts in many cases. The laws of several states show a recognition of the principle. For purposes of control and information, and to avoid possible personal liability, it is important that the records be left with full disclosure at all times of the free unexpended, unencumbered balance of appropriations. To assure that this information will be available, it should be made part of the permanent record. If industrial and commercial businesses had such information available as part of the permanent record it would be helpful and valuable in many instances to managers, directors, stockholders, bankers and others.

Abstract Reviews the book "State Accounting Procedures," by Fladger F. Tannery.