A System of Cost Keeping

The description of itemized costs of contract work always attracts some attention; unfortunately, the greatest amount of publicity has been given to the actual costs of unit items on construction work rather than to the bookkeeping methods used in obtaining those quantities. It seems hardly necessary to call attention to the very small value that cost records may have to others than to those who gathered them and who realized and understood fully every local condition at the point of construction. There are some, however, who believe that all cost records have value, and that their publication, no matter in what form, will be a benefit. There is no doubt that the records of cost of completed work are useful to some slight extent to others than their compilers, but the greatest value of such records is derived during the time of their collection by the men who are doing the work.