Knowledge that Transforms

This article provides information regarding the numbers of new Associate Memberships to the teaching members of the American Accounting Association reported by schools. These include all applications processed by the Secretary's Office during the period of August 26, 1957 through January 15, 1958. John Carroll University has over 300 members. Indiana University; Temple University and University of Miami have 80-200 members. Husson College; Miami University, Ohio; Michigan State University; Northwestern University; University of California, Los Angeles; University of Illinois; University of Michigan and University of Texas have 30-40 members. Bellarmine College; Brooklyn College; Catawba College; DePaul University; Florida State University; Harpur College; Harvard University; Pennsylvania State University; University of Southern California; University of Utah; University of Wisconsin; Villanova University; Wake Forest College; Walton School of Commerce and West Virginia University have 10-20 members.

The article presents information on the American Accounting Association's members. Canada-based Queen's University R.G.H. Smails has resigned from the position of director of the School of Commerce and Business Administration. He will continue as professor. L.G. Macmason has been designated director. Maurice Moonitz, associate dean for the last three years at the University of California, served as acting dean of the Graduate School of Business Administration during the summer. Hector Anton has proceeded on leave for the current year for the purpose of filling a position on the faculty of the University of Minnesota. Carl T. Devin of the University of Florida and R.B. Mattessich of Mount Allison University, New Brunswick, are visiting members of the faculty for the academic year 1958-59. A.B. Cason has been promoted to the rank of professor. He is serving during the current academic year as acting chairman of the Department of Business Administration as well as acting associate dean of the School of Business Administration.

Reviews the book "The Income-Tax Burden on Stockholders," by Daniel M. Holland.

Reviews the book "Business Mathematics," by Cleon C. Richtmeyer and Judson W. Foust.

Reviews the book "Standard Costs, How they Serve Modern Management," by Clinton W. Bennett.

Reviews the book "Cost Accounting," 5th ed., by John J.W. Neuner.

Reviews the book "Accounting II," by Leo A. Schmidt.

The article presents details of problems prepared by the board of examiners of the American Institute of Certified Public Accountants and presented as the second half of the chartered public accountants examination in accounting practice in May 1958. The candidates were required to solve problems. The total weight assigned to this section of the examination was 50 points and the examiners point out that the suggested time allowances given below are approximately proportional to the point value of the various problems. From the following information set forth below one has to prepare a Federal income tax return for the calendar year 1957. Solution should show in schedule form all items going into the computation of the net taxable income, the computation of the tax and the final balance payable or overpayment of tax. Set up in good form any supporting computations needed in preparation of the return.

Reviews the book "Tax Effects of Operating as a Corporation or Partnership," by Houstin Shockey and Henry W. Sweeney.

The advent of electronics in record-keeping and data-processing has placed the office equipment industry in the most challenging, yet potentially rewarding, role in its history. And the same thing can be said for accountants. Electronics is a new mode of transportation. Because of its tremendous speed in carrying out the errands, the electron can take one just about anywhere, statistically speaking. This revolution in office procedures and data-processing, promises to do for man's mind what the industrial revolution did for his body. By harnessing the electron, one will be able to multiply a single clerical employee's efforts many times. In a few more years American business would have been figuratively snowed under by its ever mounting volume of paperwork. At the start of the 20th century, only one man in every 40 employees was a paper worker. With pen and ink as his chief tools, this early-day clerical was able to keep up with all of the demands placed on accounting by business.