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WHAT'S WRONG WITH OUR TEXTBOOKS?

The Accounting Review 1947 22(1), 36-38
Abstract This article focuses on the changes that can be made to accounting textbooks so that they can be made more educational and student-friendly. Textbooks should all be published in loose-leaf format. Thereby they may readily be kept up to date. Many publishers gloss over income tax problems; others omit all taxation, because tax laws change so frequently that the book is too clearly dated. To bring out a new edition involves a lot of work and expense. Changing a page or a chapter is simple and cheap. Of course, the initial cost of publishing will be slightly increased; metal ring binders seem to cost more than permanent binding. Also, the publishers would have to insert, on all title pages, the street and number where they do business; so that the purchaser could order new material as it appears. Even the most elementary texts should stress taxation. Authors should take the utmost pains to stress the difference between good accounting and income tax accounting; and the means of keeping books to conform to both. The chapters on Social Security, and Withholding of Income Taxes, should appear in the front of the book, immediately followed by a chapter on Sales Taxes. The loose-leaf system would permit the omission of the last from books shipped to those happy states like New Jersey and Texas which are free from the inequities of sales taxes. The loose-leaf system would also permit separate chapters, each written by a local expert, on the peculiarities of the tax system of each state specifically applied to the small proprietor or partnership.