Knowledge that Transforms

Reviews the book "Concentration of Banking," by John M. Chapman.

Reviews the book "Money and Credit," by Ray V. Leffler.

Reviews the book "Control of the Retail Units of Chain Stores," by E.H. Gault.

Abstract When the growing conscious recognition of the importance of financial data in the ordering of everyday business and economic life, the need of basic economic facts is providing a constantly enlarging opportunity for the accounting profession. The early conceptions of the functions of the auditor were such as to confine him to the duties of a mere checker and verifier of debits and credits. As business became more complex in its interrelationships there has been a compensating broadening demand for the acceptance of new and formerly unrecognized responsibilities by the auditor. The control of business enterprises within and among themselves has emphasized the importance of the budgetary and managerial aspects of the accountants' reports in enabling business units to coordinate their internal and external activities in the scheme of the economic plan. The principles of auditing are partially adaptations from other fields; they are practices from other fields which it has been found feasible to incorporate into auditing procedure and routine, in the attempt to approach as closely as possible to a realistic presentation of dynamic facts.

Reviews the book "Corporation Financial Statements," by Mortimer B. Daniels.

Abstract Definition in its popular sense is the process of delimiting a concept or thing with the object of establishing that usage for a word or phrase, which has significance common to all persons. Definition is also popularly understood to be the expression through which the limits of the concept or thing are set up. Without definition, or with more than a single definition in common use, situations frequently arise where no exact medium of communication exists. Probably every person has had the experience of participating in protracted disputatious only to discover in the end that he and his opponent had been talking different languages. Within the realm of logic, definition has as its purpose the determination of the qualities of universals. Hence it may be said that the necessity of a common language and the necessity of building up an adequate background for the introduction of logical principles place upon one as accountants the burden of exploring thoroughly the requirements of good definition.

Reviews the book "Losses in Bank Earning Assets," by Frederick Mueller.

Reviews the books "Retail Accounting," by Cecil K. Lyans and Norris A. Brisco and "Retail Merchandise Control," by John W. Wingate.

Abstract The article discusses the procedure followed by the Atlanta University in providing adequate laboratories to the students. This gave rise to the suggestion that the local business concerns, especially the smaller business units, be turned into a large scale laboratory, in which students under immediate faculty supervision might carry on practical work in the keeping of books. The majority of the students who are enrolled in accounting at Atlanta University seek laboratory assignments. It is increasingly difficult to find sufficient students to keep the books for the concerns which seek their services. In assigning students to business concerns, they are placed so far as possible in the type of concern in which they seem to have the greatest interest. With a list of concerns to select from the student has an opportunity to choose one which is nearest to his liking. One advantage which Atlanta University has over some schools which might undertake a similar project lies in the fact that the professors and instructors in the Department of Business Administration are actually engaged in the operation of successful retail concerns, banks, and accounting firms in the community.

Reviews the book "How to Analyze a Bank Statement," by F.L. Garcia.