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275 277 278

Exhibit XXXIX. Statement of income.
Exhibit XL. Division A Pre-tax income by product groups for

quarter ended
Exhibit XLI.

Division/Company, Report of Property Ap-
Chapter VIII. Nonprofit Measures of Performance_
Productivity Measurement..

Exhibit XLII. Hypothetical and actual 19x2 inputs at 19x1 prices

and usage rates---
Exhibit XLIII. Calculation of divisional profits, in absolute terms

and as percentage of sales.-
Marketing Effectiveness_-
Other Key Result Areas.---

Conclusion Bibliography Index


282 283 284 286 287 303



Financial Reporting By
Diversified Companies

R. K. Mautz


New York

Financial Reporting by Diversified Companies
Copyright 1968

Fin Executives Research Foundation
50. West 44th Street, New York, N. Y: 10036

Library of Congress Catalog Card Number: 68-31726
Printed in the United States of America

First Printing


92-578 O - 73 - 55 (2B)


The nature and scope of this research study are such that credit for any
success must be shared among a number of participants whose individual and
joint contributions were indispensable to its completion. Responsibility for
conduct of the research and for formulation of the conclusions is mine alone,
a responsibility I accept without hesitation. Honesty compels me to acknowl.
edge the parts which others played and lacking which the study would never
have reached its present stage.
Without the initiative, encouragement, and support of the members of the
Administrative Committee, this project might never have been conceived and
certainly could not have been completed. Each of these men was tireless in
support of the work, candid in comment, and generous in making available
resources not otherwise obtainable. I have had the counsel of wise and experi-
enced men.
Members of the Advisory Board represented a variety of interests in the sub-
ject. Individually and collectively, they, too, were generous in offering
advice, in opening avenues of research, and in offering balanced judgment
when important decisions were required.
Many members of the Financial Executives Institute and other management
representatives were helpful in arranging meetings, attended and shared
experiences and views in such meetings, and responded to our lengthy Cor-
porate Questionnaire. The total effort invested in this research is impossible
to measure, but certainly would be an impressive amount.
Other representatives of the business community cooperated extensively also.
Members of the Financial Analysts Federation completed a lengthy question-
naire, the informational contents of which were essential to the work, and
provided opportunities for educational interviews and discussions.
Mr. L. J. Lucia and Mr. J. T. Kennedy attended many meetings of the
Administrative Committee. In such discussions and in other ways the benefits
of their experience and judgment were provided generously.
Special note must be made of the efforts of Mr. Benjamin R. Makela,
Research Director, Financial Executives Research Foundation, and members
of his staff who supplied every aid and assistance within their power.
Mr. K. Fred Skousen worked closely with me throughout the project. His
diligence, good humor, and thoughtful responses were of inestimable value.
Alan P. Johnson and James C. Stallman were somewhat less involved in the
total effort but also provided much needed assistance.
To all these I express my appreciation and acknowledge the importance of
their contributions to completion of the research. The conclusions are my
own, arrived at after careful consideration of all aspects of the data provided
through the study. I trust that they will be useful.

R. K. Mautz
Champaign, Illinois
May, 1968

As the research arm of Financial Executives Institute, the basic objective of the Research Foundation is to sponsor fundamental research and publish authoritative material in the fields of business management with particular emphasis on the principles and practices of financial management and its evolving role in the management of business. Publication of a research study should not be interpreted as constituting endorsement by the Board as a whole, or by individual Trustees.


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