Abstract The article presents problems that were prepared by the Board of Examiners of the American Institute of Accountants and were presented as the second half of the May 1952, C.P.A. examinations in accounting practice. The candidates were required to solve all problems. The time allowed was four and a half hours. The weights assigned were, problem 1, 15 points; problem 2, 10 points; problem 3, 25 points.
Abstract There is no mystery to public relations. Any certified public accountant would consider himself well qualified to deal intelligently with each individual phase of a public relations program. As a profession grows more complex, the transmission of ideas is quickened, competitive forces are multiplied and expanded, it becomes increasingly apparent that the profession must win and hold the approval of others if it is to survive the welter of competing forces struggling for public favor. This recognition leads to the development of public relations. Public relations is not a commodity that can be purchased like durable goods at the corner store. However, it does find its worth, and its proofs, in the realm of the tangible as well as the intangible. One thing is unalterably true. Public relations must be based on sincerity of purpose and honesty of expression. Otherwise it will have no lasting value. Public relations for the accounting profession, or any group for that matter, begins and ends with the individual. The first essential of good public relations for certified public accountants is good work of professional character, a strict adherence to the principle of independent judgment.
Abstract Although double entry bookkeeping has existed for several centuries with very satisfactory results as a recording medium, it has been given a severe test during the last 60 to 70 years along with its companion known as accounting. The severity of the test has been caused by two main elements, (1) expansion of the field to include not only recording of transactions but also interpretation and reporting; and (2) rapid development of business itself with resulting complexity of transactions and adjustments. These two new phases presented themselves more or less gradually over the period mentioned, as influences began to appear in the form of the business corporation, income taxes, and government regulation. One of the main products of bookkeeping and accounting for the last century at least has been the calculation of profit or loss. During the last sixty years the textbooks on bookkeeping have kept pace with practical application of the subject, usually however, lagging by about ten years to permit new ideas to solidify and to allow for preparation of manuscript, printing, and proof reading.