. Electric railway journal . occur to them to place the accountingfor materials and supplies under the jurisdiction of theofficer charged with the general accounting function,even to the extent of supervision over the inventorytests of the accounts. As bearing upon the need for such supervision, Ionce came in contact with a very unusual situation—unusual because the developments were quite the op-posite of the ordinary. Inconsistencies in compari-sons brought about investigation, and the developmentwas that, because the company was enjoying some un-usual revenue prosperity, an operating office
. Electric railway journal . occur to them to place the accountingfor materials and supplies under the jurisdiction of theofficer charged with the general accounting function,even to the extent of supervision over the inventorytests of the accounts. As bearing upon the need for such supervision, Ionce came in contact with a very unusual situation—unusual because the developments were quite the op-posite of the ordinary. Inconsistencies in compari-sons brought about investigation, and the developmentwas that, because the company was enjoying some un-usual revenue prosperity, an operating officer whoserange of control was sufficient for the purpose con-ceived the idea of charging out more operating ma-terials and supplies than were being used. He did thisnot with dishonest intent but with the end in view ofaccumulating a secret reserve for use without effecton expenses when a recession in revenue might be ex-perienced and when there might be greater watchful-ness over the relation of the operating costs •Abstract of a paper delivered before the Atlantic City conven-tion of the American Electric Railway Accountants Association onOct. 10. 1916. The principle inaccounting to which Imade reference in theopening paragraph is the one defined in the Century Dictionary as: A truthwhich is evident and general; a truth comprehendingmany subordinate truths; a law on which others arefounded, or from which others are derived; as, theprinciples of morality, of equity, of government, etc.* * * Lexicons give the application of definitionsto law, to engineering, to architecture, to chemistry, tomedicine, to mathematics and to society, but not toaccounting. Some day, perhaps, a practical man willbe drawn upon a lexicon review board, and recognitionthen will be given to accounting as ohe of the accounting application of this definition would addto the first clause or which will stand the test of logic,as in accounting. This would give rise to the question as to
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