Abstract The article reports on the achievements and progress of the American Accounting Association. One of the impressive accomplishments of the association was the marked increase in membership. The widespread interest of professional practitioners in the work, the aims and objectives, the publications, and the activities of the association in the held of accounting education has been gratifying. Many new teachers at the college level have been added to the membership roles. To all of these new members the association extends a warm and cordial welcome and a standing invitation to participate actively in furthering the purposes which are set forth in our by-laws and statement of purposes. The program of the annual meeting gave a glimpse into still another new undertaking, namely, the development of standards rating in the field of undergraduate and graduate study of accounting. It is hoped that extension of this project may become a continuing activity of the association.

Abstract Reviews the book "Industrial Accounting," by Samuel W. Specthrie.

Abstract Reviews the book "Internal Control Standards and Related Auditing Procedures," by Walter H. Kamp and James A. Cashin.

Abstract Reviews the book "Principal and Governmental Accounting," by Carl H. Chatters and Irving Tenner.

Abstract From the outset the U.S. Securities and Exchange Commission has been sympathetic to this point of view and has sought the advice of leading accounting authorities in teaching, public practice, and among executives of corporations investment bankers, and financial analysts in the preparation of rules, regulations, and forms necessary in the administration of the acts which authorize the Commission to prescribe the forms, items, and details of financial statements to be filed generally, uniform systems of accounts, principles to be followed by registered investment companies in maintaining their accounting records and in preparing financial statements. On individual problems, however, where experience has disclosed serious discrepancies in practice as between companies and accountants and one has felt that uniformity in procedure would benefit investors by rule or regulation of the Commission or in an opinion of the chief accountant. It is imperative, therefore, that the Commission make certain that the financial statements contained in registration statements be completely unequivocal and are not used as a proving ground for innovational presentations.

Introduction: impact of the Nazi economic policy on the cartels, 576. — I. Potash: early developments, 577; the 1919 legislation, 578; operations under the 1919 law, 582; the International Potash Cartel, 582; penetration of the American potash industry, 584; the Potash Cartel and Combines under the Nazi regime, 585. — II. Cement: pre-Nazi market controls, 588; early stages of Nazi control, 589; the cement industry during the war, 591; the International Cement Cartel, 594.

Abstract Reviews the book "Pluration of Income in State Taxation," by George T. Altman and Frank M. Keesling.

Abstract The topic assigned, that of discussing the graduate accounting curriculum from the viewpoint of schools offering undergraduate concentration in accounting, presents an opportunity to explore various phases of a most interesting and important subject. Prior to the twentieth century graduate work appeared to be limited to a high type of scholarship looking toward an intellectual career as opposed to a professional career. Accounting is universally recognized today as a profession ranking close if not on par with the older professional pursuits. The American Institute of Accountants has made extensive progress in preparing tests to ferret out those individuals with accounting aptitudes. Of late there has been developing some sentiment among some professors in some schools that the time put into writing a formal thesis could be better used in some other direction, such as additional courses or even field work. The MBA candidate should be required to pass a comprehensive test either written or oral or both. This examination to have any meaning and significance should be taken seriously by the examining committee as well as by the candidate.