Advanced acocunting, by Lawrence R. Dicksee With an appendix on The law relating to accounts, by J. E. G. De Montmorency

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1907 Excerpt: ...against each contract, so that the periodical total only is posted to the Ledger Account opened in respect thereof in the Cost Ledger. In the case of large undertakings it will probably be found convenient to provide the Cost Office with a separate Materials Journal, as otherwise some inconvenience may be caused by the Purchases Book being at the Cost Office when required in the Counting-house, and vice versa. (c) Stores Consumed.--Under this heading maybe included all materials (including Plant) issued from the works for the use of any particular contract, each contract being afterwards credited with the 1 value of such Materials and Plant as may be returned unconsumed. In the case of Plant, however, credit should be given at a reduced figure, to compensate for the wear and tear incurred during j the time that the Plant remained at the disposal of that particular contract. To avoid confusion, it is perhaps desirable to add that this actual debiting and crediting of Plant to a contract would only be performed in cases where the work was done away from the factory; it is, then, most important to keep an accurate record of all Plant that may leave the factory premises, with a view to seeing that it finds its way back again to the factory yard after the contract has been completed. There are numerous methods in general use of keeping a record of Stores; but many of these methods are unreliable owing to their unsystematic nature, and it is thought that some application of I the Slip System is the only really satisfactory method that can be employed. Under this system a requisition must be made out, and given to the Storekeeper NOTE.--The Lower Sheet is forwarded from the office direct to the clerical staff in charge of Stores records, to be priced out and duly ...