Abstract Applied mathematics and computers are confronted by nearly every accountant nowadays. Despite the scarcity of time and little inclination one must know at least one. The accountant presently in a managerial capacity may feel that "know" is too strong a word; after all, he rose to his position without benefit of either discipline. But now, it is a changed environment. Those accountants not due for retirement in the near future, must come to "know" either math or computers, preferably both, in the next three to five years, if accounting is to survive as a contributing discipline in modem commerce. Many people, to whom mathematics are either distasteful or overwhelming apparently find the computer very appealing. One former student of this author perhaps reflects the attitudes of these people. This student had taken a quick course in FORTRAN programming prior to enrolling in the author's cost accounting and cost analysis courses. These courses involved a good deal of applied mathematics and very early in the first semester this student caught fire mathematically

Abstract The article presents a worksheet related to preparation of funds and cash flow statements. In preparing funds and cash flow statements it is customary for accountants to employ two separate worksheets--one for the funds statement and a second for the cash flow statement. The worksheet described in this article eliminates unnecessary duplication of effort by combining both funds and cash flow worksheets. The purpose of the combined worksheet is to facilitate simultaneous preparation of the statement of sources and applications of funds and the statement of cash flow. The initial two columns of the combined worksheet contain measures of changes in the balances of each asset and equity account that have occurred during the period in question. The acquisition of assets with expected useful lives exceeding one year are displayed separately on the cash flow statement. The acquisition of assets with expected lives of less than one year are shown on the cash basis profit and loss statement. A variety of statements may be prepared from the combined worksheet.

Abstract Reviews the book "Instrumental Reasoning and Systems Methodology: An Epistemology of the Applied and Social Sciences," by Richard Mattessich.

Abstract Shows that cost variance analysis, gross profit analysis and analysis of changes in value-based income determination may be treated in an identical manner by partitioned matrices. Advantages of employing matrices; Popularity of using matrix algebra in accounting.

Abstract The article presents information on the development of stochastic process costing models in accounting. In a deterministic production system, all units would pass in a common sequence through the processes and exit the system as final product. However, many mass production systems cannot be classified as deterministic. The process costing models developed in this article are based on the premise that product flows within a mass production system can be described stochastically. Time is handled in two ways resulting in two models. Standard costs is integrated into the models for the purpose of costing output and inventories. The costing phase of the model has only been designed for a single entry system. In a multiple entry system, different transfer and output costs would be required for each entry point. Output and inventories would be coasted based on the expected entry point. The possibility of non-sequential transfers is another condition that would complicate the allocation of costs. Non-sequential transfers will be considered in a later section of this paper.

Abstract The article discusses how in-process inventories could be incorporated into a quantitative planning model for multiproduct production systems, in reference to an article written by Gerald A. Feltham in the January 1970 issue of the periodical "The Accounting Review." By determining first a standard transfer cost, costing of inventories is facilitated. The article explains that the standard transfer cost i is equal to the standard cost of all resources required preceding a unit of activity in process i. It is possible to employ standard costs in costing the in-process inventories of the production system.

Abstract Reviews the book "The Economics of Computers," by William F. Sharpe.

Cashflow statement, Working capital