Introduction to Matrices

W. Armand Layne
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W. Armand Layne: University of the West Indies

Chapter Chapter 2* in Cost Accounting, 1984, pp 21-37 from Palgrave Macmillan

Abstract: Abstract From time immemorial, the concept of matrices must have existed, since man first saw things as signs. Signs are negative and positive. Those signs when converted to accounting conventions are debits and credits. The debits and credits even in the Paciolian2 format can be expressed in matrix form. Nowadays, the complicated nature of the firm’s production problem, coupled with the advancement in computer technology,3 have made the acceptance of matrix concepts in industrial costing imperative. The adoption of matrices to cost analysis is simply an extension of the accounting function’s development in harnessing mathematics to accounting problems, which eases computational effort and saves many manhours and associated dysfunctional aberrations.

Keywords: Transportation Cost; Matrix Inversion; Cost Account; Inverse System; Reverse System (search for similar items in EconPapers)
Date: 1984
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-17691-5_3

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DOI: 10.1007/978-1-349-17691-5_3

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