Abstract The author in the article discusses the progress of the Bureau of Placements of the American Institute of Accountants as he received a number of letters from teachers of accounting which indicate that some are not in entire sympathy with the work of the Bureau. The author attempts to give first a brief summary of the purpose for which the Bureau of Placements was organized and of what it has accomplished to date. He then attempts to answer the questions raised in the letters received from accounting teachers. However, the author also notifies that these comments do not represent the official opinion of the American Institute of Accountants nor of the Committee for Placements, and should be regarded as his personal comments. In a letter to the author, an accounting teacher objects to the statement by the author that "It has been the experience of accountancy firms that men graduated from cultural courses in the liberal arts and science develop quite as rapidly as men who have devoted most of their time to technical accounting study." The author clarifies that this sentence does not refer to men who have had the combined cultural and technical study previously referred to. This statement, moreover, was intended to encourage the academic man with desirable natural qualifications to make an application.

I. The American balance of payments, 1919–26, 388. — Wide but strikingly parallel fluctuations of net capital and commodity movements, 390. — The domestic situation, 393. — II. General analysis of the maintenance of equilibrium in international payments, 395. — The effects of importation, 399. — The correction of excesses is not equally rapid in all cases, nor does the "causal sequence" always proceed along the same lines, 407. — III. The effects of exportation, 412. — Imports and exports taken together, 416. — The correction of excesses; effects of the business cycle. If foreign trade is relatively unimportant, the correction of large excesses must wait on domestic cyclical movements, 422. — IV. Application of these conclusions to the United States, 423. — The period 1919–21, 424. — The period 1922–26, 429. — The changes in the net items of the American balance of payments have had little effect on internal conditions; and their origin has usually made them mutually offsetting, 432.

Journal Article Theories of the Labor Movement, as Set Forth in Recent Literature Get access Lyle W. Cooper Lyle W. Cooper Marquette University, Milwaukee Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 43, Issue 1, November 1928, Pages 154–170, https://doi.org/10.2307/1883945 Published: 01 November 1928

Purpose of Sherman Act, — Diverse interests affected, 5. — I. Producer interests: indirectly protected by (a) raising standards of managerial responsibility, (b) affording various classes of producers the opportunity for prudential cooperation, 8. — Inadequacy of security afforded producers under Sherman Act, 14. — II. Interests of potential producers, 15; directly protected against (a) predatory methods of competition, 19, (b) trade boycotts, 20, (c) labor conspiracies to restrict sales and employer combinations to blacklist, 21. — Evidence of rigorous effectiveness of Sherman Act in safeguarding freedom of enterprise, 21. — III. Consumer interests: directly protected by penalization of concerted efforts to curtail supply or raise prices, (a) Trade agreements for these objects absolutely illegal, 24, but trade coöperation to control conditions of competition not hindered, 26. (b) Corporate mergers, originally held beyond the reach of the law, were later, so it appeared, absolutely condemned, 31. Present interpretation more liberal, 36. — Is there justification for a legal distinction between business mergers and associations? 38. — IV. Conclusion, that experience has vindicated the general policy of the Sherman Act, 39. — Contrast with British experience, 40. — Direction in which anti-trust laws need to be supplemented, 43.

R ECENTLY we have made two important changes in the Index of General Business Conditions. These include: a revision, involving a change of one of the constituents, in Curve B; and a revision, involving a modification of the secular trend and standard unit for each constituent, in Curve A.1 Both of these changes have been occasioned by the extraordinarily vigorous, remarkably sustained and widely prevalent public participation in stock speculation. The change in Curve B, which is discussed first below, comprises merely a refinement, in the bank debits data, intended to eliminate from the curve some of the confusing effects of the speculative outburst. The change in the Curve A is much more radical; and, since it may cause difference of opinion, we shall seek to explain in considerable detail the justification and implications of our substitution of the new results for those heretofore used.

Reviews the book "C.P.A. Review," by Clem Wetzell Collins.

Abstract Back in 1917 and 1918 at the time that invested capital propositions were worrying the taxpayer, the country was full of clerks who thought they were bookkeepers; it was also full of bookkeepers who thought they were accountants; and then there were a number of actual, honest-to-goodness accountants, but the number was limited. The U.S. Internal Revenue Bureau needed accountants and many of them. The real accountants were already employed in the commercial world at salaries, which did not make government stipends look alluring to them. Some very able accountants came into the service but the number of those that came was so small compared to the needs that something had to be done to augment the force of accountants quickly. The income tax law as it was framed in 1917 and 1918 brought into existence a new profession. Proficiency in this new profession required knowledge of two subjects-accounting and tax law, and the two had to be merged. It not only required knowledge of accounting but it required knowledge of accounting from the viewpoint of the tax law and the Treasury Department. To create members of this new profession was the work of the Training Section.

Abstract The use of financial and operating ratios as a means of rendering accounting statements more intelligible and significant is a matter which deserves the consideration it has been receiving of late. This device certainly represents an important angle from which the problem of statement presentation and analysis can be approached and is worthy of every encouragement. And it is a thoroughly natural and appropriate device for the accountant to emphasize. In fact any system of accounts may be conceived as a set-up of business data in terms of their underlying relations. It is clear, accordingly, that in presenting final statements and reports the accountant must not be satisfied that his work is complete with the compilation of masses of debits and credits. Through classification and arrangement, charts and graphs, oral and written explanations, or other means he must see to it that all important relationships are disclosed and this means of course that all significant financial and operating percentages must be calculated and exhibited. On the other hand, the enthusiasm for ratios as such seems at times to go beyond reasonable bounds. What one has here after all is a very commonplace feature of accounting work, long recognized and used and no great good can come from exaggerating its significance and scope.