Knowledge that Transforms

Abstract The United Typothetae of America is thirty-nine years old. It began its accounting activities in 1909 and in that year our standard cost finding and accounting system was adopted. The principles of this system have been endorsed by each succeeding annual convention and in the main stand now as originally agreed upon. If two or more salesmen are employed, a separate account should be maintained for salaries and another for commissions. These accounts are then to be further analyzed and classified records kept of performance. If salesmen do work other than strictly selling, proper recognition should be given. An analysis of sales to ascertain to what extent this expense is recovered will be helpful. In arriving at the total selling expense, not only should the direct selling expenses be considered, but all other expenses such as stenographer time, telephone, telegrams, stationery and other incidentals. To make a monthly provision for bad debts is to face facts. Membership in a credit association should not be a substitute for this account. It may, of course, materially reduce the monthly allowance. In addition to making this monthly charge, a careful check-up should be made at stated intervals to ascertain if the monthly provision is adequate.

Abstract This article announces news from different universities and colleges of the U.S. as of June 1926. The courses in hotel management now being offered in the College of Home Economics include two required courses in hotel accounting and the general elementary accounting, from the Cornell University. Announcement has been received that a "System of Lessons of Accounting," by Professor C. Panayotopoulo, has Just been published. Darmouth College announces that Mr. Archie M. Peiseb, in charge of the accounting courses in the Amos Puck School of Business Administration and Finance, has been recently admitted to membership in the American Institute of Accountants. The following members of last year's staff have left the Institution, M. Watters, professor of commerce; Braddock, instructor in advertising; J. B. Hosmer, instructor in journalism; William T. Ward, associate in advertising from Georgia Institute of Technology. Mr. Rollin C. Bill is completing b's work for an M. B. A. at Harvard, specializing in accounting at University of California .