Knowledge that Transforms

The article focuses on antecedents of double-entry in bookkeeping. It is proposed in this paper to follow the genealogy of bookkeeping back beyond those parental ancestors whose respectability was so ably proved at the time. The purpose here will be to trace out those blood-lines of preparental inheritance which finally converged at a certain time and place, there to confer certain characteristics upon the offspring. In trying to perceive the forces which produced double-entry, two questions, must be answered in the process. First, what were the antecedent elements out of which double-entry finally evolved. An answer is needed to this question, so that one may better appreciate how closely accounting has been, and still is, related to several collateral fields. Second, what surrounding conditions were necessary to give vitality to these antecedent elements? The antecedents of double-entry, those factors which in time became so interwoven as to render double-entry inevitable, are all familiar quantities; some of them are very old and some are very obvious, but all of them are, in the writer's opinion, indispensable. The art of writing is an indispensable antecedent, since bookkeeping is before all else a record; arithmetic is essential also, since bookkeeping is a sequence of simple computations, even though they are cast into certain forms; private property, since bookkeeping is concerned only with recording the facts about property and property rights.

This article presents information related to account education in various universities. The accounting staff is developing its own text material for the first two years' work. New courses in accounting problems and auditing are being offered. George S. Clarksou, Certified Public Accountant (CPA), has given up his position as instructor in accounting in the evening division and Is now at Northeastern University in the same capacity. Henry J. Bornhofft, CPA., has been promoted to the rank of associate professor. James V. Toner has received the degree of M. A. from Holy Cross College and has been promoted to the rank of professor of accounting. Toner has collaborated with Professor Elwell in the revision of the Miner and Elwell Bookkeeping Series published by Ginn and Company. The revised text will be known as "Bookkeeping and Accounting" by Elwefl and Toner. N.S. Vincent, CPA., has resigned as Instructor in accounting is devoting his entire time to accounting practice. There have been no changes in the staff for this year. Accounting has been made a requirement for all students enrolled in the engineering college.

From time to time there appear in the public press news and others items relating to the costs of higher education. Sometimes the reference is to the distinctly personal problem of costs incurred by individuals who "go to college." At other times the reference is to the problem of the costs incurred by colleges and universities in rendering their services. These two problems are, of course, related, not infrequently they are confused. It may be worth while, therefore, to differentiate briefly between them. It seems to the writer that any inquiry into college and university operating costs should recognize this three-fold classification of functions. It may from time to time be most pertinent, if indeed not necessary, for academic and business administrative officers to compare courses and amounts of income with causes and amounts of expense. Deficits do appear, sometimes with alarming frequency. Endowment and special trust funds, moneys available from public treasuries and payments by students may provide quite inadequately for current needs.

Reviews the book "Accounting Systems-Principles and Problems of Installation," by George E. Bennett.

Reviews the book "Analysis of Financial Statements," by Harry G. Guthmann.

The second decade of the present century was marked by a great development in that phase of accounting having to do primarily with principles, practices, and procedures in the field of manufacturing. The name applied to this body of material was "cost accounting." During this period, the development of cost systems in manufacturing institutions, the attention of engineers and industrial associations to cost accounting, and the inclusion of courses in cost accounting in the larger universities of the country gave evidence of this new development in the field of accounting. Frequent statements of writers that the principles of cost accounting might advantageously be applied to selling and administrative expenses, and that commercial enterprises might well emulate the cost accounting of industrial concerns, are conducive to serious reflection upon the possible existence of a science, inherent in factory or cost accounting, which is more fundamental than surface conditions seem to indicate. There is at least a suggestion that the description of technical devices and procedures which forms the bulk of cost accounting does not exhaust the possibilities of the subject.

Since the origin of fraternity life in the U.S. colleges and universities, the proper method of financial control has been one of the most vexing problems. Prior to the last decade little constructive work had been done in producing a satisfactory routine which would be both practicable and at the same time sufficiently simple for the training, or lack there of, which the average fraternity treasurer possessed. In the past ten years, however, more and more attention to the question has been paid by college officials, officials of national groups and by the personnel of groups themselves and this has resulted in several interesting developments. This trend may be accounted for in several ways, but probably follows the general interest which has become manifest due to federal regulations, higher costs and other factors. There are several factors peculiar to fraternal accounting control which are not to be found in most other types of organizations. The personnel of the college fraternity is a rapidly changing one. This means that the average treasurer no more than has time to become efficient as a business manager and bookkeeper when he passes on and the next victim takes his place.

Reviews the book "Elementary Accounting," by Hiram T. Scovill.

Reviews the book "Auditing," by William H. Bell and John A. Powelson.

The article presents information about various activities taking place in several universities in the U.S. Ralph E. Badger, associate educator of finance, Brown University is leaving the department in the year 1926. A.F. Hinrichs has been appointed assistant scholar. Hinrichs has been associated with the research staff of the New York Housing Commission. Five new graduate teaching assistants have been appointed for the coming year 1927. They are scholars R.P. Doherty of Clark University, Ralph B. Tower of Boston University, Joseph Friedman of Brown, Cecil G. Garland of the University of Maine, Claude L. Stineford of Colby College. A number of changes in staff are being made in the year 1926 in University of California. Herman Helmer, lecturer in economics, W.T. McGrath, associate in economics, Rollin C. Hill, associate in economics, are leaving the department. New members of the staff are Arthur G. Coons, instructor in economics, Marion Stockwell, instructor in economics, John Clendenin, associate, Charles E. Leveson, assistant in economics and accounting.