Abstract The author discusses management and industrial accounting in Western Europe and the differences between European and American businessmen. He discusses the social backgrounds of both businesses mentioning that the United States impress Europeans with its superior organization of industry. He highlights the fact that the American wage rates are higher than any of the European countries by comparing wage rates and systems of taxation. He evaluates the performance of European managers, while considering the lack of adequate incentive in delegating authority or creating a middle level management to make decisions. While discussing the shortcomings of the European industry in relation to industrial accounting, he points out that the engineer tends to be the man running the European industry, and in the function of forecasting and budget planning the engineer tends to think first of production and next of selling that production. He discusses the role of budget planning and standard cost accounting in Europe and the status of business schools as affecting European industry.
Everett J. Mann (Sun,) studied this question.