oa Civil Engineering = Siviele Ingenieurswese - Industrial management for professional engineers 4. The manager and finance
In this article Mr Bulleid, who is Production Manager of British Nylon Spinners at Pontypool, crisply sets out a few salient ideas on, company finance. They are addressed primarily to engineers in industry who regard financial data with suspicion or lack of understanding, but many others will appreciate Mr Bulleid's shrewd and pithy comments. Before coming to the 'narrow picture' of management accounting, which shows the use of financial devices for control, he throws a glance at the 'broad picture' of a company's whole financial performance - a picture which should indeed be 'grasped by all managers.' Mr Bulleid speaks personally to the reader, and he speaks out of his own experience. He would not have the engineer-manager become bogged in accountancy, but he emphasizes the value of accurate budgeting and costing techniques, and he does not hesitate to throw in a little elementary advice on the reading of accountants' figures. A salient point he makes is that 'overall company financial returns generally mask lower management effort'; production managers should thus assess clearly the profitability of their own departments.
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