Mine accounting: financial history or performance control?

CIM Bulletin, Vol. 75, No. 839, 1982

BERTRAND WOLFMAN and WILLIAM E. STANLEY, Currie, Coopers & Lybrand Ltd., Management Consultants

This paper reviews the traditional mine accounting systems, including "custodialaccounting" and unit costing, and then suggests that the use of flexible budgets represents a more suitable method of reporting costs in order to assist the mine manager in improving productivity. Examples of various applications are given to show that the result is a clear reporting structure.
Keywords: Accounting systems, Mine accounting, Management, Custodial accounting, Unit costing, Budgets, Costs.