University of Virginia Library

Classified Expenses

"Jefferson generated reports
classifying expenses,
production reports (profit/per
day/per worker), cost reports
and learning curve information,
he added.

"Learning curves are used
today, for example in aircraft
building," he said. "Managers
expect each successive plane
coming off the production line
to take a few months less than
the last one because learning
has taken place. Jefferson
made the same calculations on
his nail factory." he said.

"The books have never been
evaluated from the standpoint
of the information he (Mr.
Jefferson) was gathering." Mr
Shenkir said.

It is Mr. Jefferson's ledger
books that provide important
insights into his familiarity
with accounting They contain
for example, accounts of the
nail factory he had at
Monticello, in which "we find
many things that coincide with
modern accounting practices,"
Mr. Shenkir said.