Knowledge that Transforms

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 "Wall Street," by Charles F. Hodges.

Reviews the book "Credit and Its Uses," by William A. Prendergast and William H. Steiner.

Reviews the book "Successful Speculation in Common Stocks," by William Law.

Reviews the book "Introduction to Accounting," by Alva L. Prickett and R. Merrill Mikesell.

The publication "An Epitome of Bookkeeping by Double Entry," by Thomas Turner, Professor and Teacher of Bookkeeping, at Portland, delineated on a scale suited to the faculties and comprehension for Senior School Boys and Youth designed for the Mercantile line. It is one of the earliest American specimens of textbook production in the field of commercial subjects. It has its place in the literature of education. Book-keeping by Double Entry is a system of charge and discharge. A Charge is a single entry, exhibiting the debtor side only, and does not form a complete account without the discharge amount of charge. The discharge, must be always equal to the amount of charge, consequently the total amount of the additions on the debtor side of all the accounts open in the ledger when posted up, must be equal to the total amount of the additions on the credit side, or otherwise there must exist an error either in the wrong addition of the sundries in the journal, or a wrong posting there from in the ledger.

Reviews the book "Constructive Accounting," by J.F. Sherwood.

The article presents the history of the joint stock company. Though it is not possible to discover instances of the joint stock company in England before the middle of the Sixteenth century, it must at the same time be recognized that before that date there were tendencies that would make its ultimate establishment inevitable. The trade of the Italian city states was already including western Europe in its scope and Italian finance consequently exerted an important influence in England. Naturally methods and organizations employed were copied to some extent abroad. There were two main lines of development which might result in the formation of a joint stock body. These were the medieval partnership and the growth of the idea of a corporation. The canonist doctrine on the use of capital discouraged loans while it encouraged the formation of partnerships. There were the "Commenda" and "Societas," both of which were in frequent use on the continent and were forms of the medieval partnership. In the commenda the commendator provided the capital and the commendatarius managed the investment, in the societas both contributed capital. In 1284, 1206 and 1312 certain Italian societas were granted rights to trade in England.

Reviews the book "National Association of Cost Accountants Year Book 1930."

The article discusses the importance of distribution and distribution costs as elements in business activities of today. It is well recognized that as production has become more efficient and economical, constituting less and less of a problem, distribution has become more complicated and costly, representing more and more of a difficulty. This fact does not in itself necessarily constitute criticism of existing distribution methods, but is simply an expression of conditions which have been brought about by economic, social and technical developments of recent years. It is, however, certainly desirable that the distribution of products of industry be accomplished economically and that every effort be made to bring about reductions in the cost of distribution comparable to those which in the last half century have been brought about in respect to costs of production. The cost accountant has rendered invaluable service to production engineers in their efforts toward cost economy. The present situation offers an outstanding opportunity to the cost accountant to furnish equally valuable aid to the marketing specialist in his task of obtaining mass distribution at costs comparable with those effected in the factory under mass production.