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Costing in the early Industrial Revolution: gradual change to cost calculations at US cloth mills in the 1820s

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  • Pierre Gervais
  • Martin Quinn

Abstract

This study details cost accounting practices at a number of US cotton mills in the 1820s. While some extant literature suggests that these practices were akin to management accounting, we take a different view. Drawing on an institutional lens and reverse engineering of cost calculations, we argue that these practices were indeed institutionalised, but that a merchant mindset on costs and profits was engrained within them. Cost calculations were based on the comparative quality of cloth, and costs were not traced to a particular product. However, gradual change took place from about 1830 on, when cost calculations became more specific to particular products, possibly as a consequence of external economic forces.

Suggested Citation

  • Pierre Gervais & Martin Quinn, 2016. "Costing in the early Industrial Revolution: gradual change to cost calculations at US cloth mills in the 1820s," Accounting History Review, Taylor & Francis Journals, vol. 26(3), pages 191-217, September.
    • Handle: RePEc:taf:acbsfi:v:26:y:2016:i:3:p:191-217
    DOI: 10.1080/21552851.2016.1229265
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    References listed on IDEAS

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    1. Pierre Gervais & Yannick Lemarchand & Dominique Margairaz, 2014. "Merchants and Profit in the Age of Commerce, 1680–1830," Post-Print halshs-01150351, HAL.
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    Cited by:

    1. Enrico Guarini & Francesca Magli & Alberto Nobolo, 2018. "Accounting for community building: the municipal amalgamation of Milan in 1873–1876," Accounting History Review, Taylor & Francis Journals, vol. 28(1-2), pages 5-30, May.
    2. Marisleidy Alba Cabañas, Editora, 2020. "Tendencias de investigación en contabilidad," Books, Universidad Externado de Colombia, Facultad de Contaduría Pública, number 11.

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