Knowledge that Transforms

Abstract The article presents views of the author about accounting in the next decade. Remarks made by me are classified under three major headings, the profession in general, the teaching of accounting and factors of major importance to accounting. The recognition of accounting as a profusion. Here it seems that the struggle for full and complete recognition must go on. If you tell me that accountants are recognized as members of a profession I shall ask, "by whom?" The expert accountant is desirous of full and complete recognition by the court; by all of the governmental divisions and subdivisions, by other professions and by the layman, not alone by one or two bureaus, a handful of clients and his fellow practitioners. He is to be confused with neither a bookkeeper nor an adding machine. To merit such recognition he must continue his efforts toward the attaining of those characteristics which are the hallmark of a professional man. The extension of accounting service and the broadening of the accountant's field of activity. We must admit from the outset that the accountant is in no immediate danger of reaching a saturation point in the demand for his services. There are still many managers and owners unconverted to the vital necessity of adequate accounting records.

Reviews the book "Hotel Administration--Accounts and Control," by David J. O'Brien and Charles B. Couchman.

Abstract Courses in accounting occupy a distinctive place in the curriculum of every collegiate school of business. The particular location in the course of study, however, differs quite widely between the various institutions. Furthermore, the character of the subject matter taught under the title of accounting means different things in the several schools. In view of the fact that professional schools of business are still in the early developmental stage, one can hardly hope for anything approaching standardization in curriculum making. Annual revision of courses will continue until the various professional business occupations become more clearly defined than they are at present. One of the chief difficulties encountered in attempting to generalize on this subject is the number of different types of institutions offering collegiate instruction in business. There are the four-year schools which admit students directly from high school, the two-year courses to which students are admitted who have completed either two or three years in an arts college, and the graduate schools which offer instruction only to those who have completed a full four-year academic course. In addition to these, there are the schools, which have specialized in certain fields such as retailing, and personnel administration. Each of these institutions is attempting to adapt its course requirements to meet the demand for technically trained men in business.

Reviews the book "The Behavior of Prices," by Frederick C. Mills.

Reviews the book "Finance," by Charles L. Jamison.

Abstract Presents a letter to the editor about the missing addresses of Association members published in the December 1928 issue of the journal "The Accounting Review."

Reviews the book "How to Understand Accounting," by Howard C. Greer.

Abstract Back in 1917 and 1918 at the time that invested capital propositions were worrying the taxpayer, the country was full of clerks who thought they were bookkeepers; it was also full of bookkeepers who thought they were accountants; and then there were a number of actual, honest-to-goodness accountants, but the number was limited. The U.S. Internal Revenue Bureau needed accountants and many of them. The real accountants were already employed in the commercial world at salaries, which did not make government stipends look alluring to them. Some very able accountants came into the service but the number of those that came was so small compared to the needs that something had to be done to augment the force of accountants quickly. The income tax law as it was framed in 1917 and 1918 brought into existence a new profession. Proficiency in this new profession required knowledge of two subjects-accounting and tax law, and the two had to be merged. It not only required knowledge of accounting but it required knowledge of accounting from the viewpoint of the tax law and the Treasury Department. To create members of this new profession was the work of the Training Section.

Reviews the book "Corporation Secretary's Guide," by William H.Crow.

Reviews the book "Industrial Credits," by Robert Young.