Knowledge that Transforms

Pro bono publico work, or voluntary professional service "for the public good," is a hallmark of both the legal and medical professions. With the movement toward professional schools of accounting and increased emphasis on professionalism in accounting education, explicit consideration should be given to the preparation of accounting students for the assumption of public service responsibilities. In this article, the authors propose means for incorporating attention to public service activities and opportunities into the accounting curriculum, and suggest an outline for a course in public interest accounting.

Reviews the book "CPA Business Law Review," by G.B. Lowe.

Reviews the book "Costs: Accounting, Analysis, and Control," by A. Wayne Corcoran.

Reviews the book "Elementary Accounting," by Isaac Reynolds, Albert Slavin and Allen Saunders.

Reviews the book "The Value Added Statement: A Review of Its Use in Corporate Reports," by Michael F. Morley.

Reviews two volumes of the book "Federal Taxation of Partnerships & Partners," by William S. McKee, William F. Nelson and Robert L. Whitmire.

Previous research [Beaver et al., 1970] indicated that a model using accounting data appeared to be able to forecast future levels of the market risk measure β better than a model using past information on market risk alone. Subsequent improvements in models using past market risk data suggest that the superior forecasting ability of accounting data-based models ought to be reinvestigated. This study reexamines the forecasts of market risk produced by models based on accounting data and finds that these models still appear to forecast future levels of market risk marginally better than models based on past market risk information alone.

Reviews the book "A Critical Examination of the Orientation Postulate in Accounting, With Particular Attention to Its Historical Development," by Stephen Addam Zeff.

Reviews the book "Inflation Accounting, Capital Market Efficiency and Security Prices," by S. Basu.

The objective of this paper is to utilize a taxonomy of cognitive skills to evaluate the comparative merits of textbooks on tax accounting presently used in the undergraduate curriculum. The taxonomy has been developed by a group of educational psychologists and can be expressed as a set of educationally useful objectives for student behavior. Because of its structure, the taxonomy of cognitive skills provides an appropriate explicit criterion for a comparative evaluation of tax texts. This approach to evaluation is illustrated using the opinions of a sample of tax instructors.