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Free «History of Cost Accounting in the U.S» Essay Sample

The main objective of this paper is to provide a brief history of cost accounting inn the United States. In order to achieve this goal the paper will analyze the various bibliographies on the subject of cost accounting in US. These sources of information will provide to us a brief history of cost accounting practices in US.

Hans B. Christennsen and Valeri Nikolaev, (2008). Who uses fair value accounting for non-financial assets following IFRS adoption? University of Chicago

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This article describes the historical development of fair-value accounting in various accounting practices especially accounting for what is known as non-financial assets. The authors of this article give this brief history of the users of fair-value accounting in which modern cost accounting is based in the United States.

The journal provides a good overview of the subject of the interest. The article provides a good studying ground of how the issue of fair-value came into existence in various cost accounting practices. The article also provides the users of fair value accounting approach and furthermore its provides reasons why they prefer this approach to historical cost accounting approach when accounting for non-financial assets.

The authors of the article did examine the reasons why professionals in the field of cost accounting tends to use fair value instead of historical accounting in their cost accounting practices. Through their study they observed that most of the American companies prefer the usage of historical costs in their accounting practices but they noted that those companies that are involved in investment property tends to use fair value approach while accounting for their non financial assets. The authors by drawing observation from their study concludes that those companies that uses fair value approach has a tendency of having higher value of assets in their balances sheet in comparison to those that uses historical costs. They argue that this practice is consistent with various accounting policies practices.

Stephen A. Zeff, ( 2010), Historical resources for U.S accounting academics and doctoral students. BYU accounting Research Symposium.

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This article provides us with insightful historical practices of cost accounting in United State. The author of the journal has complied together various resources that are related to cost accounting. The author provides compiled resources on cost accounting principles and practices in the entire United State over history. The journal explains how this principles/ standards have been used in various accounting practices.

The journal is related to the subject of our study. The journal which contains historical resources that are related to cost accounting history in US provides a wide variety of materials for our study. The journal provides mainly the standards of cost accounting and their development as well as usage over the course of accounting history in the US. Therefore, the article provides adequate grounds for studying cost accounting principles/standards that are in use in America.

The author of the journal has complied various resources that one can use to find what that is useful in understanding the issue of accounting standards and the application of those standards in real world accounting practices.

 
 
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This journal provides use with a deeper understanding of the various traditional practices in cost accounting practices and how various cost accounting practices have revolved over time. The journal is therefore is related to the subject of the study where it provides us with information on traditional practices of accounting.

The journal provides deeper information of how materials are selected in accounting for various materials. Therefore, it provides the study of historical cost account ting in US, how selections of materials to be accounted for have revolved over time.

The journal focus on material cost accounting. While carrying out the study it will provide information on how selection of materials to be accounted for in cost accounting are selected and what should be left out in accounting for materials, for example accounting for manufacturing overheads.

John R.Alexander,( 2002). History of accounting. Association of charted accountants in the United States, New York.

The author of this article provides a deeper understanding of cost account ting in US over the history. It provides us with insightful information on how cost accounting is applied in product decisions making as well as in managerial accounting.

The article is related to the subject of the study as it provides us with information that is related to development of cost accounting and it application in various managerial decisions. This provides materials for the study to understand how the practice of cost accounting has revolved over time to an extent of supporting various product and managerial decisions.

The article provides us with information how various costs are accounted for such as labor costs, material costs and over head costs. It also explains how they have affected decision making process the prices of products or further production of   a given product over the history. Therefore, the article provides the historical areas of application of cost accounting practices in US.

   

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