The Accounting Review Vol. 20 No. 4 1945
ART OR SCIENCE.
Abstract
In the preparation of accounting statements there are, broadly speaking, two phases of the work: the compiling and assembling of the underlying facts and data and, second, the form and method of presentation. One reason why many accounting statements are not easily produced or satisfactory when completed is that the underlying accounts and records are not designed with an eye to the final statement. There are naturally many purposes for which records are used besides the preparation of statements and exhibits, and full weight must be given to these purposes. It is generally possible, however, to arrange underlying records so that both purposes may be served. The prime purpose of a record of sales is to provide a medium for recording the day's transactions as they occur and to make certain that each customer is correctly charged with what is sold to him. Many other purposes may be served by such a record, none of which may be directly connected with its primary purpose, but which, on the other hand, will not obscure or hinder it. It is likely that the sales manager will need a distribution, say by products and by geographical divisions.
- DOI
- 10.2308/tar-7038805
- Volume
- 20
- Issue
- 4
- Pages
- 391-399
- Language
- en
- Sources
- openalex crossref