Introduction, 564. — I. Importance of religious backgrounds in seventeenth and eighteenth centuries, 565. — II. Place of work in social theology, 566. — III. Delayed acceptance in the nineteenth century, 570. — IV. Conclusion, 573.
I. Introduction: the inadequacy of mere price-quantity analysis; possible relationships between the four variables of price, product, advertising and quantity, 1. — II. Products are variable; the meaning of product determination, 8. — III. Three main determinants of products: custom, 12; standards, 14; profit maximization, 17.
Introduction, 97. — I. The propensity to develop pure science, 98. — II. The propensity to invent, 102. — III. The propensity to innovate, 105. — IV. The propensity to finance innovation, 108. — V. The propensity to accept innovations, 110.
Journal Article Ad Valorem and Unit Taxes Compared Get access D. B. Suits, D. B. Suits University of Michigan Search for other works by this author on: Oxford Academic Google Scholar R. A. Musgrave R. A. Musgrave University of Michigan Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 67, Issue 4, November 1953, Pages 598–604, https://doi.org/10.2307/1883604 Published: 01 November 1953
The transition from an academic to professional career is a major achievement and one that can be accomplished most efficiently by a working association with those practicing in the professional field. The desirability of a period of professional apprenticeship is recognized by most states in the requirements to be fulfilled in order to receive a certificate as a public accountant and by some schools in their recent efforts toward establishing, as an integral part of the curriculum, a period of time during which each accounting major works on the staff of a certified public accountant firm. This being the case, the college senior who desires a certificate must first secure employment. Some of the principal touchstones of a desirable staff accountant to which a prospective employer will give consideration can be academic accomplishments in all courses, particularly accounting and related subjects, ratings received in the achievement, orientation, and vocational preference tests sponsored by the American Institute of Accountants, extent of participation in extracurricular activities of the school such as athletics, arts, and other group activities, personal appearance, use of the English language and sincere desire for professional success.
To institute a workable plan for a system of internal audit there must be present those essentials of an underlying structure of management without which a good internal auditor is likely to suffer from continued frustration and the best internal auditor, if he can stay on the job and sweat it out, may find his work singularly ineffective. The first of these organizational essentials is a full-scale recognition of the nature and interdependence of authority, responsibility, and accountability: administrative powers that may be called the three basic operational activators. Second among the essentials is the firing of centers of activity within the various parts of the organizational structure. Third is the empowering of each center with the three operational activators in just the right degree: a quantity and quality of authority designed to provide some freedom of action, the exercise of judgment, no matter how limited, and the development of enthusiasm and pride in work done; a charge of responsibility that will develop, exercise, perhaps even tax supervisory capacities, with substantial curtailment of the need of continuous scrutiny from above; and a scheme of reporting by virtue of which automatic and as far as possible informal accountability is the order of the day.
This article presents a report on the balance sheet of the American Accounting Association as of December 31, 1932 and the related statements of income and expense and of changes in net worth for the General Fund and the Life Membership Fund for the year then ended. The examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as were considered necessary in the circumstances. Following past practice, inventories of Association publications are not included in the balance sheet. The costs of publications have been charged to operations in the year of printing. The balance sheet and statements of income and expense and of changes in net worth present fairly the financial position of the American Accounting Association at December 31, 1952 and the results of its operations for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year.
The article highlights that a recent issue of The American Economic Review contained an article challenging the widely held view that depreciation allowances necessarily fail to cover replacement costs during a period of rising prices. This view, it is argued, ignores the effects of physical asset expansion. The present article demonstrates by mathematical techniques that physical growth, by itself, would cause depreciation allowances to exceed replacement costs. It is possible, therefore, that the effect of rising prices on replacement costs may be completely offset by the effect of growth on depreciation allowances. The intention of the article is to demonstrate and analyze these propositions through three arithmetic models and to develop the implications of this analysis. The first model is designed solely to illustrate the effects of physical asset expansion on the relationship between depreciation charges and replacement costs. In the interests of clarity, certain simplifying assumptions are made. They are not essential, however, to the validity of the principles being demonstrated. Two other models will show the effects of altering some of these assumptions.