Knowledge that Transforms

I. Introduction, 36. — II. The first issues of paper currency, 37. — III. Depreciation begins, 41. — IV. Why paper depreciated, 43. — V. Issues of paper for canals and by the Philippine Company, 45. — VI. Paper above par in 1786–1793, 46. — VII. Taxation, loans, and inflation during war with France in 1793–1795 and with England in 1796–1800, 50. — VIII. Paper in terms of specie in 1792–1800, 59. — IX. Reasons for depreciation in 1794–1800, 64. — X. Efforts to control depreciation, 65. — XI. Prices and wages, 72. — XII. Conclusions, 76.

I. Economic movements and population movements: personal capital, 572; emigration and migration, 576; non-economic factors, 577; the time factor, 578; primitive cultures and the ancient world, 579. — II. Wealth per capita and population: time and space, 582; secular increase, 583; class rates of mortality and natality, 583; social and political institutions, 583. — III. Determinants of population growth: the genesic forces, 585; the non-genesic forces, 587; residues, 592. — IV. Malthus' theories, 593. — V. Demographic trends: long-run influences, 598; the future, 600.

Taxation and the Conservation of Resources Get access The Quarterly Journal of Economics, Volume 58, Issue 2, February 1944, Pages 157–195, https://doi.org/10.2307/1883316 Published: 01 February 1944

VI. Opinion, law, and population movements, 107. — VII. Optima: indices, 111; ophelimity and utility, 112; group differences, 113; individual vs. collective point of view, 114; population growth, 115. — VIII. Heterogeneity and selection: income distribution, 116; natality and mortality, 119; eugenic selection, 120; residues, 122; class circulation, 125. — IX. Conclusion: points emphasized or passed over, 129.

Significance of the problem, 246. — Opposition in elections relatively infrequent, 248. — No relation between opposition and method of election, 251. — The International Typographical Union: sub-lists, 253; the Brotherhood of the Union of North America, 255; the Wahnetas, 257; the Progressive Party, 258; election campaigns, 259; reasons for political divisions, 262.— Conclusions, 263.

I. The problem: quantitative relationship between the primary demand for particular products and total output and employment, 290. — II. Technological relations assumed, 294. — The resulting equations, 296. — Computing employment, 297. — The concept of final demand, 298. — III. Computation from American data for 1939, 299. — IV. Applicability of these results to data for 1929, 304. — Explanation of discrepancies, 308. — V. Relationship between final purchases of particular commodities and total employment, 311. — Appendix, 313.

A new theorem: consumers harmed by price stability, 602. — I. Related propositions: consumer's surplus and price stability, 602. — II. The general case, 605. — III. Indifference curve analysis, 606. — IV. The theorem in its most general form, 608. — V. The meaning of the above results: "common sense, " 609; offsetting price changes, 609; semi-luxuries, 610; extreme cases, 610; producers or sellers, 610; character of the demand function, 611; quantities sold, 611; adjustment of expenditures, 613; advance knowledge of prices, 613.

I. Summary and conclusions, 388. — Loss offset provisions, 391. — II. The rationale of investment behavior: yield and risk defined, 393; yield and risk of an asset combination, 398; investor's indifference map and investment equilibrium, 402. — III. Taxation without loss offset: effects of the tax on yield and risk, tax sensitiveness, 403; adjustment of asset combination held, 405. popular versions of the argument, 408. — IV. Taxation with full loss offset: effects on yield and risk, 409; total risk and private risk distinguished, 410; adjustment of asset combination held, 411; total risk increased as result of tax, 412. — V. The general case, taxation with variable loss offset: effects of varying tax rate and varying loss offset, 415; adjustment of asset combination to changes in tax rate, with given loss offset, 418; adjustment to changes in loss offset, with given tax rate, 419. — VI. Qualifications, 421.

The article presents information on accounting theory and its current problems. Accountants who have been concerned with a more precise phrasing of accounting theory have attempted to formulate standards by which the bulk of accounting procedures may be guided. A consistent framework of standards is needed to serve as a basis for judgment in constructing and interpreting financial statements. Accounting standards should be systematic and coherent, impartial and impersonal and in harmony with observable, objective conditions. The responsibilities of the profession have increased, so has the profession's independence. If it should be emphasized, which is perhaps not necessary: (1) that the reporting of periodic income should include, as a regular element, charges to provide for the payment of refunds or additional costs of a period and (2) that full reliance upon the genuineness of the need for the charge and the honesty and accuracy of the estimate would be given if a certified public accountant subscribed to the figures, then the independence of the accountant would be further strengthened and the usefulness of this reporting improved. The acceptance of such a position by writers on theory would have an important secondary result in that it would provide a better integration of auditing practice and accounting theory.

The article highlights the role and function of internal auditors. The author discusses fundamental factors which have caused industry to promote internal auditing to a key position in the general scheme of internal control. During 1940s, various management aspects were handled by different employees of the firm. Industrial management adopted these and many other new techniques to combat certain basic shortcomings in big business enterprise. With its origin in the accounting field, internal auditing derives its distinctive position in the sphere of managerial control from a series of peculiar characteristics which are not common to other staff departments within the organization or to public accounting staffs. In other words, these qualities make internal auditing a tool for the management in establishing and maintaining enlightened internal control. The first of these inherent characteristics is prejudice, partiality, bias, or loyalty. Compared with the public accountant, the internal auditor is partial toward the company under audit because his client is his employer.