Towards a Definition of Financial Control Systems
Towards a Definition of Financial Control Systems
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In our eReader you can find the full English version of the book. Read Towards a Definition of Financial Control Systems Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Towards a Definition of Financial Control Systems
What reading level is Towards a Definition of Financial Control Systems book?
To quickly assess the difficulty of the text, read a short excerpt:
It is a powerful model and a good one. We have to work to see *the possibilities outside of it.
15 But possibilities do exist outside of it. Fixed overhead costs of a plant are very real transactions and therefore accounting costs. On the other hand, if the plant is working below capacity, the opportunity cost of this overhead is zero. This latter cost is not an accounting costs. Similarly, we do not record the opportiinity cost of equity capital in accounting since it does not involve an arm's... length transaction. There may be no accounting charge, but a very real opportunity cost.
One can conceive of a financial control system involving only op- portunity costs and as a result lying wholly outside the gambit of the accounting system. And indeed, whenever economists talk about costs and theories of the firm, it is a system of opportunity costs that they have in mind. Be that as it may, the point is that a set of dollar denominated variables can exist, at least in theory, independently of the accounting system.
What to read after Towards a Definition of Financial Control Systems?
You can find similar books in the "Read Also" column, or choose other free books by Michael F Van Breda to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
It is a powerful model and a good one. We have to work to see *the possibilities outside of it.
15 But possibilities do exist outside of it. Fixed overhead costs of a plant are very real transactions and therefore accounting costs. On the other hand, if the plant is working below capacity, the opportunity cost of this overhead is zero. This latter cost is not an accounting costs. Similarly, we do not record the opportiinity cost of equity capital in accounting since it does not involve an arm's... length transaction. There may be no accounting charge, but a very real opportunity cost.
One can conceive of a financial control system involving only op- portunity costs and as a result lying wholly outside the gambit of the accounting system. And indeed, whenever economists talk about costs and theories of the firm, it is a system of opportunity costs that they have in mind. Be that as it may, the point is that a set of dollar denominated variables can exist, at least in theory, independently of the accounting system.
What to read after Towards a Definition of Financial Control Systems?
You can find similar books in the "Read Also" column, or choose other free books by Michael F Van Breda to read onlineMoreLess
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