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FACTORY ACCOUNTS

"The counting house of an accomplished merchant is a school of method wherein the great science may be learned of ranging particulars under generals, of bringing the different parts of a transaction together, and of showing at one view a long series of dealing and exchange."

DR. JOHNSON, in Preface to Rolt's "Dictionary of Commerce."

THEIR PRINCIPLES AND PRACTICE

A Handbook for Accountants and Manufacturers

WITH

APPENDICES ON THE NOMENCLATURE OF MACHINE DETAILS;
THE INCOME TAX ACTS; THE RATING OF FACTORIES;
FIRE AND BOILER INSURANCE, ETC.

INCLUDING ALSO

A GLOSSARY OF TERMS AND A LARGE NUMBER of
SPECIMEN RULINGS

BY

EMILE GARCKE

Managing Director of the British Electric Traction Company, Limited

AND

J. M. FELLS

Formerly General Manager of the Salt Union, Limited

Fifth Edition, Revised and Extended

Capio Yumen

LONDON

CROSBY LOCKWOOD AND SON

7, STATIONERS' HALL COURT, LUDGATE HILL

1902

[All rights reserved]

HALLICIE

HF 5686

.M3G3 1902

LONDON:

FRINTED BY H. VIRTUE AND COMPANY, LIMITED,

CITY ROAD.

PREFACE TO THE SECOND EDITION,

THIS work is, we believe, the first attempt to place before English readers a systematised statement of the principles relating to Factory Accounts; and of the methods by which those principles can be put into practice and made to serve important purposes in the economy of manufacture.

It is not necessary to convince men of business of the advantages and importance of correct mercantile bookkeeping; but as regards their factories and warehouses they are for the most part content to accept accounts which are not capable of scientific verification. Such accounts can only be regarded as memoranda of transactions.

Our aim has been to show not only that as great a degree of accuracy can be attained in factory book-keeping as in commercial accounts, but that the books of a manufacturing business can scarcely be said to be complete and reliable unless they are supplemented by, and to a large extent based upon, the accounts special to a factory.

The principles of Factory Accounts do not differ in the main from those general rules on which all sound bookkeeping is based, and we have but applied fundamental axioms to the practice of an important and extending branch of industrial accounts. With the view of rendering the book of special utility to Accountants we have not dealt with the principles and practice of accounts in so far as they apply merely to elementary and commercial bookkeeping, as to do so would, in large measure, be a work of supererogation. The diagrams showing the relation between Factory and Commercial books will, we hope, with the numerous specimens the book the book contains,

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