Summary |
This book deals with accountancy as an aid to management. The subject of accountancy appears to be tackled in most textbooks from the wrong angle. One quickly learns many details of how to do things, but it is only after much study that the reason for doing them is discovered.
The object of Budgetary Control and Standard Costing is to enable management to conduct business in the most efficient manner. In order to do this it must show where and to what extent profits or losses are being made. It should also show what potential profits might be made, and why they are not being realized. The system should supply the answer to the “Why” and “Hows” of management
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