Reviews the book "Basic Accounting," vol. 1, by Homer S. Pace and Edward J. Koestler.

Reviews the book "Selected Readings in Accounting and Auditing," edited by Mary E. Murphy.

Reviews the book "Selected Readings in Accounting and Auditing," edited by Mary E. Murphy.

Reviews the book "Intermediate Accounting," by Joseph A. Mauriello.

The paper considers criticisms which have been advanced relative to the Tentative Statement of Accounting Principles. An analysis of accounting writings since 1936 indicates that relatively few articles have dealt exclusively with the propositions contained in the Tentative Statement, on the other hand, scarcely any expression in connection with theoretical aspects of accounting can avoid implying either agreement or lack of agreement with or more of the propositions. In considering the possible need for uniform accounting principles, one must look to the sphere of relationships between the stockholder and the corporation, since it is in this connection that the statement of principles was established. Adverse criticisms divide themselves into four classes. The first relates to alleged defects of workmanship in the formulation of the statement. The second pertains to alleged incongruities of the various parts of the whole. The third deals with the practicality of certain propositions. The final class represents differences of opinion on fundamental theses.

It has been the author's observation that first-year accounting students have considerable difficulty in learning how to make calculations for the admission of a partner by investment. The calculations for goodwill or for bonus, and the journalizing of the results seem to contain somewhat more than ordinary difficulty. The method presented in the article is simple, yet it is reasonably complete. It sets forth the five possible cases in concrete form, permitting the student to realize that the whole procedure is actually easy. The process contains certain logical steps that aid the student in tasking and retaining it. In order to simplify the process for the sake of teaching it, the thought and expression "ignoring goodwill" is substituted for the ordinary conception and terra "bonus." It seems easier to build upon the idea of either recording or ignoring goodwill than to include the additional notion of bonus. After the subject has been discussed, the fact that the ignoring of good will means giving a bonus in ownership to someone can be made clear in one statement to the class.