Abstract Owing to the comparative youth of the accounting profession, court decisions affecting its members are few and scattering. However, the importance of these adjudications to the profession in inverse proportion to their number. An attempt is made in this article to state the significant parts of the American and English cases which have been decided during the past half century. Since accounting has attained the dignity of a profession, its members are subject to the same rules in their practice as are the members of other skilled professions. The damages claimed on account of the losses from the defalcations of the clerk and the insolvency of his surety are too remote to recovered, without showing the existence of special circumstances, known to defendants from which they ought to have known that much losses were likely to result from failure to disclose the true condition of affairs. Such losses are neither the natural nor the proximate consequences of the failure of defendants to make a proper audit.

The assumption of independent national price systems, in theory and in treatment of current problems, 409. — I. No domestic and no international prices; only local prices, more or less sensitive to external conditions, 410; merchandise and services, wholesale and retail prices, not differentiated in the terms "international" and "domestic" commodities, 413. — II. Parallelism in movement of wholesale price indices, 413; Internationalization of the commodity price structure, 414. — III. Illusion of domestic price structure for wholesale merchandise: large or sustained movement not essential to price interdependence, 422; defective market data and apparent price deviations, 432; limitations upon actual deviation; a priori indications of high correlation, 433. — IV. Reformulation: the local category consists mainly of services and retail prices, 436; merchandise at wholesale is international, 437; regional prices structurally related, 442. — V. Practical applications: farm relief, 452; export combinations, 453; tariff and monetary problems, 455. — VI. Regional prices of international goods: as affected by foreign exchange, 456; by movement of specie or changes in purchasing power, 457; a possible reconciliation with orthodox theory, 458; price stabilization through credit policies of central banks, 459.

Journal Article International Control of Price Levels Get access Harold L. Reed Harold L. Reed Cornell University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 45, Issue 2, February 1931, Pages 357–364, https://doi.org/10.2307/1885480 Published: 01 February 1931

Introduction, 1. — I. Definition of terms, 2. — II. Reactions to a falsified good: (1) the genuine is displaced, 8; (2) both remain in use, 11; (3) the falsified disappears, 13; (4) the demand for both falls, 13; (5) the demand for both increases, 16. — Importance of knowledge, 17. — III. Effect of conditions of production, 20; of elasticity of supply, 21. — IV. Effect of legal enactments: labelling, 23; grading, 25. — V. Effect upon the national economy and the final user, 26. — Waste, 27. — Introduction of novelties, 30. — Expense for protection, 31.

Reviews the book "Federal Income Taxation," by Joseph J. Klein.

Abstract Standard costs, so-called, had their genesis in the field of production but are being applied more and more in the field of distribution. This paper deals with only one application to the latter field. The technique of the application will be described first then reasons for the method and finally advantages of the plan. The plan might be called "The Key Man Incentive Plan." For point values assigned for weighting sales the first step in the procedure is to establish a scale of points per $1,000 of sales of product for certain spreads of margins of profit over manufacturing cost. A statement is then prepared listing various products or groups of products, their profit margins over manufacturing cost their sales points based upon these margins, any policy adjustments made to the latter in order to determine the final sales points assigned to each product or groups of products. The purpose of establishing these sales points based upon profit margins is to enable one to weight the sales volume so as to indicate the relative desirability of securing business for various products from the standpoint of both normal profit and proper balancing of factory operations.

Abstract This article focuses on the author's view about earned surplus. The author says that the general course of the reasoning which led to the final definition will prove to be of even greater interest than the expected applications of the definition. The Committee on the Definition of Earned Surplus, reappointed hopefully each year by the president of the organization American Institute of Accountants, faced a task of no mean proportions. First was the obstacle that many common terms in use in the world of business, especially terms appearing on financial statements, have no fixed meaning, and can be made intelligible only through the aid of explanatory phrases. Second was the apathy, if not the actual resistance of business itself, toward more exact usages. The astonishing growth of interrelations between business enterprises has prevented the precise formulation of the scientific truths that are presumed to underlie the various manifestations of economic endeavor. Third was the multiplicity of state laws and court decisions bearing on the questions of dividends and maintenance of capital.

Abstract The problem of labor turnover remains unsolved. This problem is not a new one, but over the year. has taken on varied aspects and has attained a significance which now calls for universal serious attention. The scope of the problem places it beyond the limits of comprehensive treatment in a single paper or by one individual. Of world-wide, international application, it knows no political boundaries, nor territorial prohibitions. Labor turnover is not only an industrial problem, it is a vast social problem. With some what cyclical regularity, it assumes the nature of an epidemic, under the diagnosed name of unemployment. For a single company, labor turnover has not been considered as fatal, but the effects upon business of the malady in virulent form and epidemic proportions, are paralysis or death. In 1921, consequences were serious enough to warrant coordinated and determined effort. Instead of that, only here and there was any constructive work done. No real lesson was learned. In 1929 and 1980, business suffered losses which justify the expenditure of a large sum to prevent the recurrence of such a situation or at least to insure distinct progress in that direction.

Reviews the book "Credits and Collections in Theory and Practice," by Theodore Beckman.