Operating Expenditures

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ISBN 13 : 9781332325337
Total Pages : 222 pages
Book Rating : 4.3/5 (253 download)

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Download or read book Classification of Operating Expenses, Operating Revenues and Expenditures for Road and Equipment written by and published by . This book was released on 2015-08-05 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Classification of Operating Expenses, Operating Revenues and Expenditures for Road and Equipment: For the Use of Electric Railways To the American Street and Interurhan Railway Accountants Association: Gentlemen: - During the past year the classification of accounts for electric railways has been a very active subject. Both the Interstate Commerce Commission and the Public Service Commissions of the First and Second Districts of New York have issued tentative classifications which have kept the question prominently before the attention of electric railroad interests as a whole. It is safe to say that at no time in the history of the industry has the question of accounting been considered of such vital moment and so occupied the attention of not only the accounting officers, but also the managers and presidents of the roads. In order that there may be a clear understanding of the situation, let us refer briefly to matters occurring in the early days of this association. The Street Railway Accountants Association was organized at Cleveland, Ohio, March, 1897. At that time a paper, entitled Suggestions for a Standard System of Accounts, Classification of Operating Expense Accounts and Form of Report That Will Admit of Comparison and Diffuse Information Between Companies, was presented to the convention by Mr. C.N. Duffy, then secretary and treasurer of the Citizens Street Railway Company of St. Louis. One quotation alone from that paper is suggestive in view of recent developments. The one object that should be uppermost in the mind of the accounting officer of a street railway is to keep his operating expense accounts in such a way that the management of the road will profit by the information. In order to have a classification of operating expense accounts that will admit of this, there is great danger of having too much subdivision and itemization. This necessitates not only a mass of figures, but a corresponding amount of detail work that sometimes proves unwieldy. At this convention there was appointed a Standing Committee for the Standard Classification of Operating Expense Accounts, etc. This committee was active in its work and submitted a report to the first annual convention, at Niagara Falls, October, 1897, which report was the subject of animated discussion by the convention. Again, at the second annual convention of the association, at Boston in September, 1898, they submitted a revised report, which was adopted and the classification recommended for general adoption by the members of the association. That classification called for 39 operating expense accounts and, with some minor alterations, has remained the standard of this association up to the present time. Its simplicity was its chief recommendation, making it possible for the smallest companies to keep their accounts in accordance with the classification without undue trouble or expense. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.