By James L. Gibson, W. Warren Haynes

Accounting in Small company Decisions offers the 1st large-scale empirical exam of ways small organizations use accounting info to make working judgements.

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29 A note on nursery cost accounting literature Articles on nursery accounting confirm the conclusion that cost accounting has not made much progress in the industry. 5 Most of the systems that have been tried are not the usual cost systems. Some consist of piecemeal attempts at controlling certain costs, for example, by establishing standard labor times; others may be described as "cost finding" -ad hoc methods of determining the full cost of certain operations. Some systems merely try to allocate revenues and costs to different activities in the hope that this will show the relative profitability of these activities.

To the extent that the overhead costs are fixed costs, the economist argues that they are irrelevant to business decisions, so that no allocation is necessary. In any case he doubts that routine systems of allocation are invariably appropriate to the variety of deCISIOns. ( 3) The failure to reflect the true opportunity cost. The accountant's historical costs reflect the opportunity costs only by coincidence. Often the accountant understates costs, for his measurements do not reflect certain sacrifices involved in choice.

Since price lines are usually firmly established in small retail stores, the emphasis is on "economic" buying. The objective is to buy merchandise of suitable quality to fit into the price range and at a wholesale cost which makes a satisfactory margin feasible. Unit budgeting is the rule in instances of prepriced, nationally advertised lines. In this situation, the retailer is concerned only with estimating the amount to sell at the established price. Budgeting in small retail stores varies in several respects.

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