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Introduction to Matrices

In: Cost Accounting

Author

Listed:
  • W. Armand Layne

    (University of the West Indies)

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.

Suggested Citation

  • W. Armand Layne, 1984. "Introduction to Matrices," Palgrave Macmillan Books, in: Cost Accounting, chapter 0, pages 21-37, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-17691-5_3
    DOI: 10.1007/978-1-349-17691-5_3
    as

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