Knowledge that Transforms

Reviews the book "Public Utility Finance," by Walter E. Lagerquist.

Reviews the book "Charts and Graphs," by Karl G. Karsten.

Reviews the book "Practical Accounting," by Spurgeon Bell.

The U.S. Interstate Commerce Commission was specifically instructed to consider depreciation in making the valuation of the railroads of the country since cost of reproduction less depreciation was one of the three basic values to be determined and considered in setting final values upon the railroad properties. A study of the published valuation reports indicates that a very definite and comprehensive policy has been adopted which has been applied strictly and rigidly to all cases in spite of vigorous protests of the carriers. In the first published valuation case the commission stated that depreciation has been treated as covering number of units of capacity for service as compared with those existing in the same elements when Installed; and upon ascertaining what part of the remaining capacity for service remains, depreciation which has already accrued ii subtracted from the cost of reproduction new and the remainder given as cost of reproduction less depreciation, due consideration being given to existing salvage or scrap value. Depreciation is not taken merely as the equivalent of deferred maintenance or loss of service efficiency.

Reviews the book "Business Books: 1920-1926, An Analytical Catalog of 2,000 Titles."

The article focuses on the problem of curriculum construction, which has been constantly with the education system in the U.S. ever since educators many years ago felt the necessity of formulating a definite program. The problem is pressing and stupendous right now because of certain changes in the industrial and social fabric. After close contact with a score or more of the leaders in commercial work both in the secondary and in the college divisions, one approaches the intricate subject with due humility. Certain factors well known to all have created a situation calling for new diagnosis. Among the more evident changes are, industrial progress; progress in distribution whereby place utilities are created; the perfecting of distinct functions such as financing, purchasing, storing, personnel; changes In social life; great increase in school enrollments; changes in the philosophy and doctrines of education and in their application. In the development of curricula over a period of time, subjects do not maintain a stable position but shift up or down. As these courses have moved downward, they either remained unchanged in scope of content or expanded.

Reviews the book "Purchasing," by W.N. Mitchell.

Reviews the book "The Principles of Factory Organization and Management," by Ralph C. Davis.

This article provides information about the constitution of the Accounting Association of the U.S. In the article 1, it is written that the name of the organization shall be The American Association of University Instructors in accounting. Second article is about the objects of the Association which shall be as follows, to further the advancement of education in accounting, particularly the development and refinement of the theory of accounting, content of accounting courses, and methods of instruction. To encourage practical research in accounting, especially theory and methods, the interpretation of accounting data, and the use of accounting statistics in related fields. Article 3 is about the membership of the association. Active membership shall be limited to those engaged in giving instruction in accounting in educational institutions of collegiate rank. Other persons interested in instruction in accounting may become associate members. Any active member who permanently discontinues his teaching work as aforesaid thereby shall become an associate member. Any associate member who undertakes teaching work as aforesaid shall thereby become an active member.

The certified public accountant's interest in the subject of appreciation is a practical one. He is forced to consider the matter in connection with his review of accounting and his certification of financial statements. The facts are, whether or not such procedure is justifiable, that physical property and intangible frequently are revalued by, or at the instance of, the owners of such possessions who attempt, in various ways, to give expression to the estimated increases in value. The certified public accountant, therefore, is confronted primarily with a condition; not a theory. The authority for the restated value may be either a report of independent appraisers, or a resolution of corporation directors. In as much as the certified public accountant does not attempt to act as an appraiser, to pass judgment on the work of such persons, or to assume responsibility for the values which they fix, he accepts their judgment and qualifies his statements accordingly. The occasions for revaluations which give rise to estimated increases in values are various.