Mine Accounting and Cost Principles (Classic Reprint) - Couverture souple

Thomas Orrin McGrath

 
9781330278727: Mine Accounting and Cost Principles (Classic Reprint)

Synopsis

Excerpt from Mine Accounting and Cost Principles

Depreciation of Development Equipment Closing Mine Development Account Administrative Accounting.

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Présentation de l'éditeur

The present tax laws of most of theS tates and of the Federal Governj ment require that accurate records be kept and that complete reports be made to the Government of the results of each years business. The employes of large industrial units are demanding that they be informed of 3the results of their labor, and be given a share either of the profits of the business or in the savings resulting from their increased efficiency or effort. The general public is insisting that, being the consumer of all products, the costs and profits of industry shall be accurately determined and made public. As the result of the gradual depletion of our richest 5deposits of minerals the mining industry is operating on a narrower nmargin of profit than at any time in its history, and must know its costs gfrom month to month to protect against loss. A lso, it is now recognized that a mining enterprise may be properly equipped with the best of mechanical appliances and have an organization of high ability and employes embued with the spirit of co-operation, nevertheless the business cannot be intelligently managed without a knowledge of the results of operation and the condition of the business for each operating ,period, which information can be obtained only by proper accounting and 3o costing. ;o .... Therefore, each unit of the mining industry feels the need not only jof accurately determining its costs and profits so as to have an intelligent guide to operations, and to meet the requirements of the Government, the public and of its employes, but to compile the accounting and costing data in as uniform a manner as possible so as to obtain the benefit of the operating data compiled by the other units of the industry. To meet this need there is an urgent demand for a complete presentation of accounting and costing of mining operations compiled on a scientific basis and in a uni
(Typographical errors above are due to OCR software and don't occur in the book.)

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