Knowledge that Transforms

Reviews the book "Security Analysis," by Benjamin Graham and David L. Dodd.

Reviews the book "Gold and Prices," by Frank A. Pearson.

Reviews the book "Modern Accounting Systems," by William D. Gordon and Jeremiah Lockwood.

Reviews the book "Trading on the Equity by Industrial Companies," by Charles L. Jamison.

The article focuses on a scholar Lucas Pacioli, who showed such proficiency in his mathematics that he outdistanced his master. Many tutors in those days were treated as ordinary servants, but this could not have been the case with Pacioli because he stayed with them so long and because, at a later time, he dedicated his first book on mathematics to his three former students. All of Pacioli's time in Venice was not devoted to examining the ways of merchants or in tutoring the three young men. There were in the city competent teachers of mathematics under whom Pacioli enrolled. He was busy making friends with some of his classmates who were to be helpful to him later on. Pacioli wanted to get his mathematics into the hands of people. He wanted them to apply mathematics to everyday life. If he wrote in the language of the people he would be sneered at by the learned. He used a combination of the Latin and the Italian of the time. Pacioli was typically of the Renaissance. He knew business, mathematics, teaching, religion, writing, architecture, sculpture, painting, military science, medicine and music. His great aim was to diffuse knowledge and apply it. Such a restless, ambitious, energetic individual breaking loose from the bonds of the medieval ages.

The article focuses on the graduate study of Accounting by means of a survey of members of the American Association of Schools of Commerce. Statistical surveys of the extent of such activity in the colleges and universities of the country, and patterns for planning graduate work are suggested time and again. Graduate study of accounting includes all courses in accounting which give graduate credit except the introductory course. Generally speaking, such graduate credit involves four factors, students who are graduates, subjects that are advanced, not elementary, instructors qualified to give graduate work, an institution equipped for advanced or graduate study. In order to be considered graduate study of accounting, it is here assumed that there should be undergraduate preparation in accounting. The range of the percentage of students specializing in accounting indicates the uncertainty that characterizes this graduate work. This would seem to give evidence of the undeveloped character of such graduate study.

Reviews the book "American Treasure and the Price Revolution in Spain, 1501-1650," by Earl J. Hamilton.

Reviews the book "Cost Accounting, Principles and Practice," by James L. Dohr, Howell A. Inghram and Andrew L. Love.

Reviews the book "Walton Federal Income Tax Accounting and Procedure, 1935," by Charles H. Langer and Harry A. Knautz.

Many volumes have been written covering the material which must be studied and reviewed in preparation for sitting for the Certified Public Accountant examination. Suffice it to say that the only intelligent preparation for such an examination requires the most complete study and review of accounting theory which can possibly be undertaken. Much less material is available, however, on the technical preparation for the culmination of many months of hard labor and sacrifice. The candidate should be thoroughly sure in his own mind of the strategy to be employed before he starts. This refers to the entire examination as well as to the individual problems. For the nervous individual a relaxation period of five minutes may be desirable before starting to work. Five minutes of gazing into space with the examination papers upside down on the table is a marvelous test of self-control, and provides opportunity for the nervous candidate to realize that this examination is given twice a year, and can be taken in many states twice for the same fee. He is then in a much improved position to exert every effort logically and directly towards the achievement of his Great Desire.