Abstract The article examines various aspects of the concept of replacement value accounting. Replacement value theory is a particular measurement concept employed in ascertaining what constitutes that maintenance of a capital for the entire entity. Income is the residual that exists after capital is maintained in that sense dictated by this special measurement concept. In some cases it is possible that the capital to be maintained is measured in terms of current replacement costs. Historical cost accounting and the general or specific price level adjustments to it are restricted in the amount of their charges against revenue to the historical or price-level adjusted historical costs of those assets which the entity presently holds. In order to provide a detailed contrast with the price-level adjustments, it is necessary to leave the conceptual level of replacement-value accounting. However, whenever the individual-asset-and-liability-levels are selected for the purposes of brief comparisons, certain simplifying assumptions are required.

Abstract ABSTRACT: Recently, several state legislators have supported the imposition of a mandatory five-year accounting education requirement for entrance into the public accounting profession. This has occurred despite controversy over the efficacy of such a proposal. This paper explores the economic incentives of accounting labor suppliers in providing an extra year of accounting education, and evaluates the ramifications of an imposed five-year minimum education requirement upon the accounting labor market. Education will be presented as a quality signal from which potential employers can predict employee productivity in markets characterized by information asymmetry.

Abstract ABSTRACT: This paper presents the results of a study which undertakes to evaluate whether the PLATO time-sharing system and the introductory accounting modules residing on this system are an effective tutorial medium for introductory accounting Thru study was replicated over a different population in each of three different time periods and involved an examination of both the financial and managerial modules. The results for the three periods indicate that PLATO can be an effective tutorial medium, particularly where the financial modules are employed.

Abstract The article discusses the historical perspectives of "Funds Statement." The American Institute of Certified Public Accountants completed a research study on the subject of "funds" statements in 1961 and issued an Opinion of the Accounting Principles Board in 1963. The official pronouncement was the first on "funds" statements by a major accounting body and has had the effect of increasing the use of "funds" statements in corporate annual reports. The basic theme of this article is that needless confusion in preparing and interpreting "funds" statements in corporate annual reports still exists after a century of discussion and practice. The "funds" statement is being required to report all items of financial information and perspectives not disclosed by the income statement, balance sheet and statement of retained earnings. This means that the "funds" statement must report changes in some definition of liquidity, reveal all important "inter-entity" transactions, somehow reconcile the cash and accrual bases of accounting, be flexible, report different perspectives and readily communicate with laymen.

Abstract ABSTRACT: This paper presents an extension of PERT/COST which cost accounting instructors can use as the basis for a one- or two-day review of the planning and control cycle. The article stresses performance measurement and responsibility accounting, but the illustrations provided can also be a useful vehicle for a class discussion of such thorny issues as (1) which costs should managers be held responsible for, (2) how should joint costs be allocated, and (3) should joint costs be included in performance reports?

Abstract ABSTRACT: Leaders in the accounting profession have cited the need for accountants to be able to function professionally in a complex and changing environment. The literature of cognitive development suggests that such individuals must possess a high level of cognitive complexity, and the literature on personality types shows that people self-select into professions partially as a result of their perceptions of the professional stereotype. Since the introductory and intermediate accounting courses may profoundly influence students' perceptions and their career choice, the courses should be designed so as to attract those more cognitively complex individuals whom the profession needs. This study analyzes the relative performance of introductory accounting students with high and low levels of cognitive complexity on structured versus unstructured course materials. Students at all levels of cognitive complexity performed equally well on highly structured accounting examination questions, but students with high levels of cognitive complexity performed significantly better on unstructured case materials. The implication of the results is that if accounting educators wish to attract students who can function in a complex and changing environment, the introductory accounting course should include unstructured course materials.

Abstract ABSTRACT: This paper is an extension of prior research by Paretta and Chadwick [1975] that investigated the effect of question sequencing on examination performance. In this work, the investigation is broadened to trace the effects across all examinations in a course, as well as to examine effects on student attitudes and dropout behavior. A sample of elementary financial accounting students (n=414) was administered examinations throughout the semester that differed in the order of question difficulty. One-third took examinations with questions ordered easiest to hardest, one-third took examinations with random sequencing of questions, and one-third took examinations ordered hardest to easiest. Comparative examination scores, dropout statistics, and end-of-semester course evaluations were analyzed. No evidence was found to support the contention that question sequencing affected examination performance or dropout behavior from the class. Significant differences were observed, however, in student attitudes toward the course, instructor, and field of accounting.

Abstract ABSTRACT: This paper compares students who studied accounting in high school (Group I) to those students who did not (Group II). Two questions were addressed. First, do Group I students outperform Group II students in the first college-level accounting course? Second, what impact does prior accounting education have on dropout behavior from the first college-level course? Data were compiled for 498 students enrolled in elementary financial accounting. The first question was addressed by performing an analysis of covariance with repeated measures on examination scores. Vocabulary and quantitative skills scores were used as the covariates. The second question was evaluated by analysis of total drop-outs and drop-out patterns. Overall, Group I students performed no differently on examinations than those in Group II. While they scored higher on early examinations, they scored less well later. There was no difference in drop-out rate, although Group I students tended to drop later in the semester.

Abstract ABSTRACT: Several studies have identified and reported various factors influencing career-choice decisions of accountants; but none has been reported that systematically relates career-choice factors of accountants with those of other professionals. To provide data for comparisons, ratings of career-choice factors were obtained from accountants, attorneys, engineers, and physicians. A multiple discriminant analysis of these data reveals distinctive differences in career-choice and motivating factors among the four professions.