Shoot your inventory: a 'mountainous' inventory calls for special ways of measuring
Article Abstract:
Photogrammetric mapping, which uses aerial photography for measuring, is an accurate method of determining the inventories of stockpiles of aggregates, coal, and minerals. The process entails: locating the sites of the inventory; designating boundaries with clear, premarked control points at key points; and then photographing the inventory from an aircraft. During the duration of the flight over the inventory, two photos of the inventory area are taken from two different angles to provide a stereo overlap which results in a three dimensional picture. A mapping machine generates a contour print which is used to determine volume. An engineer converts cubic yard volumes into tons after identifying the material and determining its density from how it was stockpiled. The resultant inventory figure is double-checked through a hands-on field measurement utilizing the average end area method.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1989
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Walter Wriston: are accountants on target?
Article Abstract:
The views and opinions of former Citicorp Chmn and CEO Walter Wriston, who was the chairman of President Ronald Reagan's Economic Policy Advisory board from 1982 to 1989, on the role and efficacy of accountants is presented. Wriston believes that an information problem is the major problem facing accounting. Accounting information was inadequate as it did not provide businesspeople with what they needed to know about how their businesses were doing, which led to the creation of management information systems (MIS). Wriston believes that the business community needs both accountants and MIS professionals as accounting information cannot provide adequate information on such issues as productivity increases, areas which MIS professionals address.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1990
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