Journal Article Rationing and Index Numbers Get access J. L. Nicholson J. L. Nicholson Oxford Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 10, Issue 1, Winter 1942, Pages 68–72, https://doi.org/10.2307/2967497 Published: 01 December 1942

Introduction: the problem studied, 385. — The cycle in yields of certain crops, 388. — Sunspots and the solar constant and the cycle in yield of cotton, 392. — Solar and sky radiation and the cycle in yields of cotton and apples, 396. — Reasons for the correlation observed, 398. — Misconceptions in earlier investigations, 403. — Summary and conclusions, 403.

Abstract While it is entirely proper, for purposes of discussion, that the American Accounting Association's statement of accounting principles underlying corporate financial statements be divided into parts, no section or part of the statement can be intelligently discussed without considering the statement in its entirety. The original or tentative statement was predicated by its authors on the assumption that corporate financial statements should be continuously in accord with a single coordinated body of accounting theory. The same idea is indicated in the revision, where the achievement of the desired objectives in accounting is said to be dependent upon the existence of a unified and coordinated body of accounting theory. Every part of the statement must therefore be considered in the light of its relationship to the whole. Rules found to be unsatisfactory were changed as conditions indicated the necessity therefore, the charge has frequently been made that the system failed to keep abreast of social and economic developments.

Abstract Reviews the book "Audits and Examinations," by Christian Oehler.

Abstract Reviews the book "Corporate Executives' Compensation," by George T.Washington.

Abstract The article focuses on a symposium on various accounting principles underlying corporate financial statement. Those who have been charged with responsibility for activities of the American Accounting Association and its predecessor during the last 15 years frequently have occasion to recall the annual meeting held six years ago. For nearly ten years various members had proposed a restatement of aims and purposes of the association: a broadening of its expressed scope to cover the range of activities in which it seemed actually to be engaging and a more direct participation in practical affairs where national associations up to that date had seemed to be devices for the protection and defense of members, rather than mediums for the clarification and expansion of their fields of endeavor. Among other things, the devising of unequivocal statements of professional principles and policies had been suggested as a major project, notwithstanding that the normal interests of the association had been variously described as belonging to the realm of theory, pure science and academic narrowness.

Abstract The main aim of this article is to review some of the serious criticisms of cost valuation of inventory and to formulate a concept, which might be considered an "earning power" valuation. The system of income reporting which identifies costs with units of product and matches the cost of individual units with revenues resulting from sale of the units has been said to rest upon an analogy between the determination of the ultimate profit for an enterprise and the periodic computation of income. Proponents of the thoroughgoing cost method recognize this and make partial allowance for it. Since these compromises are made the door is left open for further adjustment of the concept of acceptable accounting procedure. It is difficult to see why a recognizable loss of usefulness, or "earning power," in the case of obsolescence, which is admitted by cost adherents, should be treated differently from a loss of sales value through the change in demand. Merchandise has only one quality significant to accounting: the power to bring in revenue.

Abstract Reviews the book "The Stock Market," by Charles Amos Dice and Wilford John Eiteman.