Abstract As the economy changes there must be changes in accounting practices. Accounting cannot serve a useful function by remaining static in a dynamic economy. New rules and methods must be devised better to account for assets, liabilities, and net worth and to report on financial status, earnings, and the utilization of resources. These are desirable goals even in a static economy, they become imperative in one that is shifting and changing. Accounting principles are defined as fundamental truths, concepts, or basic assumptions such as the cost principle and principles of objectivity, conservatism, consistency, disclosure, the stable dollar. The problem of price level changes concerns owner equity, not assets, and certainly not fixed assets in particular. This can be demonstrated by a simple example. On January 1st of a given year an enterprise borrows $50,000. It invests the proceeds of the loan in merchandise, sells all the merchandise for $60,000 net of selling cost during the year, and repays the loan at December 31st. This enterprise would have increased its purchasing power or productive capacity by $10,000, less any interest paid on the loan. If the enterprise had operated solely on this loan and if there were no other transactions, it would have no justification in taking any kind of inflation loss against this income regardless of how great the price level rise may have been.

Abstract The article presents a report on teaching methods and programmed instructions in the U.S. During the past few years, in the process of continuing search to discover means for increasing instructional efficiency and for developing new materials to cope with the rapidly expanding demands for additional education and training by a burgeoning number of learners, the experimentation and development of programed learning has received the attention of educators and training directors across the country. Programed instruction has found wide-spread usage in industry and in the armed forces in various aspects of training for specific assignments or tasks, in which predetermined performance levels or behavioral patterns had been established. In numerous situations in both education and industry, programed instruction has proved to be effective, and under some circumstances more so than conventional methods. However, at this time research findings, especially at the college level, are totally inadequate to serve as a basis for making decisions on the adoption of programed learning for use throughout any specific course or program.