The article focuses on opportunities for a career in governmental accounting. Certain general principles or rules have developed which should be of interest and value to those who are concerned with the selection of a career. These rules are as follow. Selecting a career in which the financial remuneration is adequate, selecting a career in which the type of activity is marked by a high individual responsibility, and one which deals with problems on a distinctly intellectual plane and others. The opportunities for a career in governmental accounting are indeed great for those young men and women who have the necessary aptitudes and personal characteristics, and who have had the basic training in accounting and related subjects. The demand for competent personnel in governmental accounting is urgent, and the opportunities to render needed services to the community have never been greater. Governmental accounting is broad in scope, offering the greatest possible variety of work to the accountant. Contrary to popular opinion, governmental accounting is not a limited and narrow field of activity.

The article focuses on the various role of public accountant in helping with the various jobs of the management. Management has three main jobs. These are to operate its enterprise at a profit, to make its enterprise a good place in which to work and to operate its enterprise and govern its own conduct so as to serve society most effectively. If the public accountant is to be of most possible aid to management he must help, if he can, with all three jobs. For management, and for the accountant too, this raises questions of training, of competence, and of desire to do all three jobs equally well. In considering the public accountant's general role in helping with these three jobs, there are two premises which underlies the discussion. The first is that any socially undesirable feature in the free enterprise system preferably ought to be alleviated through self-improvement, and the public accountant has a social role in expediting such self-improvement, particularly in order to forestall further governmental restrictions. The second premise is that the concept of independence is the most important consideration in this social role of the public accountant.

The article focuses on accounting and price level. During the last decade accountants have become increasingly aware of the effects produced on accounting statements by the substantial change that has occurred in price levels. It is reasonable to expect that they should also show some interest in proposals aimed at adoption of a policy of stabilization of the price level, even though implementation of such a policy would call for action primarily in the somewhat alien field of monetary and fiscal affairs. Advocates of this policy maintain that the objective of Federal spending, taxing, borrowing, lending, and monetary operations should normally be maintenance of the purchasing power of the dollar in real goods. One of the fundamental arguments used to support such a program is the effect its announced adoption and actual carrying out would have upon businessmen's expectations and particularly upon their ability to plan future operations without the ever-threatening prospect of being overwhelmed in a sea of deflation or of being buffeted by the storms of violent inflation of their prices and costs.

Accounting has long been one of the most popular courses offered in our colleges, and this in spite of the difficulty of the subject matter and the high percentage of failures among the students. With a proper course of study and with competent instructors, the study of accounting offers many real benefits to the serious and diligent student. Accounting as a subject contains a great amount of factual information of value to students interested in general economic affairs and business practices. Then too, accounting is a scientific method of analysis and study of business activities. Accounting provides a valuable discipline and method of study requiring a careful and accurate analysis of business situations, neatness and precision in recording the effects of transactions, and logic and integrity in presenting and interpreting the results of financial activities. Accounting combines the mental discipline of mathematics and logic and at the same time offers a course rich in practical information.

Reviews three books. "Statistics of National Income and Expenditures," "Concepts and Definitions of Capital Formation," and "A System of National Accounts and Supporting Tables."

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

The article presents devices and techniques developed by the member of accounting profession for the presentation of the knotty aspects of accounting. The first method presented focuses on the accounting problems related to business income and the cash basis. Money profits are basic to the management of a business. The cash basis, where properly applied, involves considerably more than receipts and disbursements. Accounting on the cash basis means that net income is determined by including income and gains actually or constructively received and deducting those expenses actually or constructively paid, losses sustained, and allowable depreciation or amortization for the period. Cash includes not only money but also commercial paper redeemable in money on demand such as money orders, bank drafts or checks. It does not include notes or similar promises to pay money at some future time. The general rule is that a bank check received constitutes an actual or conditional receipt, even though the holder refrains from depositing or cashing the check until a later date. Transactions near the end of the year call for decision as to the exact time receipt occurs.