Reviews the book "The Financial Manager: Basic Aspects of Financial Administration," by Jerome B. Cohen and Sidney M. Robbins.

The article presents surveys that have been conducted in the past to find out what texts were used in the U.S. business schools for accounting. One survey seemed to evoke considerable interest among faculty members as evidenced by requests for copies of results, so the information was made available to all who asked for it and the results were summarized and published in the July 1963 issue of the journal "The Accounting Review." A similar survey was made in 1964 issue, but was omitted in 1963 and 1966. This year, another questionnaire was mailed to the chairman or head of the accounting department of all AACSB member schools. The 1966-67 Directory of Members of the AACSB lists 120 schools as members. Questionnaires were returned from 105 of the 120 schools, or 87.5%. Information received from the questionnaire is presented in the following summaries. Texts used in five or more AACSB schools in each curriculum area are identified. If the number of schools using a particular text was less than five, they are included under the "various" category.

The article presents problems and their solutions prepared by the Board of Examiners of the American Institute of Certified Public Accountants, for the auditing section of the November 1965 Uniform Certified Public Accountants examination held on November 04, 1965. The first question deals with auditing procedures to be followed for auditing of a shopping center with 30 store tenants, and the preparation of an auditor's report under certain given conditions. All leases with these store tenants provide for a fixed rent plus a percentage of sales, net of sales taxes, in excess of a fixed dollar amount computed on an annual basis. Each lease also provides that the landlord may engage a certified public accountant to audit all records of the tenant for assurance that sales are being property reported to the landlord. The second question deals with the issue of auditing financial statements that have been prepared using electronic data processing equipment, and the accountant has found that his traditional audit trail has been obscured.

The article presents the method and rationale of net working capital analysis that can help accounting students understand the relationships between the balance sheet and the income statement. Regardless how complex and lengthy the problem in net working capital analysis presented, considerable time and effort will be saved by not preparing formal working papers. The method accomplishes the analysis systematically in a minimum amount of time. Further, by forcing reconciliation of each account and analysis of the items that flowed through each account, three valuable pedagogic objectives are accomplished.

The article presents questions and solutions for auditing paper of the May 1966 uniform certified public accountants examination. The examination was scheduled for May 19, 1966 from 8:30 to 12:00 noon. The first section of the examination consisted of six questions and the candidates were supposed to solve all the questions. The second section contained two questions of which the candidates were instructed to answer any one of their choice. Section 1 presents question on audit procedures. Section 2 required students to discuss, what disclosures, if any, of the sale and repurchase of the securities would the CPA recommend for the financial statements. Section 4 required students to distinguish between accounting controls and administrative controls in a properly coordinated system of internal control. It also required students to list features of a sound system of accounting control. It sought explanation about why certified public accountant is concerned about the separation of responsibilities for operating custodianship, financial custodianship, and controllership.

The article presents a survey to obtain information relative to accounting courses offered by accredited junior and community colleges in the U.S. An effort is made to secure data as to the particular courses offered, credit hours allowed therefore, whether for terminal credit only or for transfer, selective data as to their content, and finally, certain facts relative to the academic training and teaching experience of the faculty personnel teaching these courses. To accomplish this, a questionnaire was mailed to the 207 junior and community colleges listed in the 6th edition of American Junior Colleges that offer courses in accounting. Five of the colleges contacted replied that they had either become four-year institutions or were no longer offering courses in accounting, thus reducing the population to only 202 and of these, 143 completed and returned the questionnaires. The results of this survey are offered without comment, and with the hope that they will generate some interest and discussion throughout the accounting profession relative to the accounting curriculums being offered at junior and community colleges.

The article focuses on the development of accounting mechanics in an attitude natural to the computer environment. The task mentioned is undertaken by restructuring the accounting language. The new product is hereinafter referred to as the "notation." The most essential and conspicuous component of the notation is the root, which is a slight extension of the notion of a chart of accounts. The root establishes the hierarchies of a given accounting system but differs most strikingly from a chart of accounts in that its elements are not accounts. The concepts of an entry, journal, account, gross, net, and statement are derived within the root context and terminology; the meanings given to these words are very distinguishable from classical usage. The root and the directed tree of network analysis are equivalent; hence another body of knowledge can be brought to bear. The notation is suitable for use by engineers, mathematicians, etc., hence communication between accounting and related disciplines stands to be improved. And lastly, another view is offered of unit-value flow, aggregation, and statement generation.

The auditing section of the May 1965 Uniform Certified Public Accountants examination was given on May 13, 1965 from 8:30 to 12:00 noon. The first section of the examination consisted of six questions, all required; the second section contained two questions of which the candidate was instructed to answer the one of his choice.

This article presents information on cash movement, which should be the foundation of periodic income measurement. It is contended that most people think that periodic business net income or loss is closely linked to certain of the movements of cash into and out of the business, and that, while a simple periodic matching of cash receipts and disbursements rarely gives a meaningful measure of net income, cash movement can be objectively measured and is a far better starting point for income determination than value, a highly subjective matter. It is further contended that even if the proposals to link value changes closely to income measurement were sound in principle and feasible, the likelihood of their gaining widespread understanding and acceptance is negligible. If these contentions are valid, it is incumbent upon accountants to stray no further than absolutely necessary from cash movement in calculating periodic business income. It is noted that problems rarely exist in cases where there is a very close correlation between cash movement and revenue and expense realization or recognition.

The article presents solutions to questions that appeared in the November 7, 1963 Uniform Certified Public examination. There were in all 7 questions related to auditing. One question is related to the examination of fire insurance policies of the Cap Sales Company. Another question aims at opinions expressed by a Certified Public Accountant (CPA) on a client's financial statements. The third question asks for the discussion of control procedures for The United Charities organization based on its statement of receipts and disbursements. The fourth question relates to listing and discussion of various aspects of internal control by CPA after the examination of existing internal control of his client. The fifth question is related to audit procedures to be followed by a CPA in order to obtain an inventory certificate for a manufacturing company. The sixth question asks for information required by a CPA in order to audit a medium sized company's financial statements. The last question relates to preparation of auditor's adjusting journal entries for The Smoky Mountain Manufacturing Company.