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| Author: | Heier, R. |
| Title: | The foundations of modern cost management: the life and work of Albert Fink |
| Journal: | Accounting, Business and Financial History
2000 : VOL. 10:2, p. 213-244 |
| Index terms: | ACCOUNTING ACCOUNTING HISTORY USA |
| Language: | eng |
| Abstract: | After the Civil War, American railroads struggled with profitability problems because they lacked an understanding of the nature of short-range profits as they related to long-term investments, especially an investment that had to be upgraded and expanded almost continually. In the early 1870s, Albert Fink, superintendent of the Louiseville and Nashville Railroad, experimented with a cost-analysis system. In general the purpose of the system devised by Fink was to measure the profitability and efficiency of the railroad's operations in terms of then-revolutionary concepts of fixed and variable costs and costs allocated to multiple accounting periods. |
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