Reviews the book "Standard-Kostenrechnung," by Karl Kaefer.

Abstract Man's desire to create some mechanical means for aiding him in carrying out simple arithmetic processes dates back to very early times. Computing machines are not a product of this century. Most modern mechanical calculating machines have really nothing basic in them. Of course, many refinements have been introduced but the fundamental idea was never changed. However, these machines were not used and known very widely as it was still impossible to duplicate parts and still achieve reliable results as is now done by modern processes of fabrication. When the modern tabulating machine with its punch card was introduced, it had a tremendous influence upon business and financial procedure. If, today, reliance still had to be placed on long-hand methods, the scope and complexity of present-day business problems would be practically impossible. This new arithmetical technique has been so widely adopted that over 10,000 tons of punch cards are used each year in the U.S. Refinements in the punched-card method have included use of electrical contacts through the holes instead of mechanical connections.

Abstract The article discusses several issues related to accounting as a tool for economy in German business. With the start of European hostilities, innumerable questions concerning industries, commerce, raw materials, and economy of the belligerent nations were raised in the daily press. Of particular interest was Germany, which through the innovation of its "Four-Year" Plan, had set out some years before to place its national economy as much as possible on a basis of self-sufficiency. Stringent foreign exchange laws, rigid economy, strict control over capital and labor, barter-trade with other nations, and rationing of food articles have long been regarded as measures foreign to American trade, business, and national policies. It is the purpose of the author in this article to present the development of that phase in the German business world, which on the one hand has made such rapid and important progress, and, on the other hand, has been called upon to help in the struggle for greater economy and for the success of the Four-Year Plan.

Abstract The Executive Committee of the American Accounting Association reactivated the committee on cost concepts and standards for the year 1951. The Executive Committee hoped that in reestablishing this Committee, the groundwork laid by previous committees would be carried forward to the benefit of the Association and the profession of accounting as a whole. The 1951 Committee made an intensive exploratory study of the possibility of setting forth principles, concepts and standards of accounting. As an approach to offering positive guidance to current cost accounting problems, the Committee felt that this afforded the best opportunity to be of service at the present time. As a consequence, major stress of the 1951 Committee is upon cost concepts and related business decisions and policy and, to a lesser extent, upon principles or standards of cost accounting. Cost accounting is a tool of management. In so far as it aids management in the preparation of general financial statements, it supplies data, which may be used eventually as a guide to the overall efficiency of an organization, the relative efficiency of a firm to other firms in an industry, or the relative profitableness of present pursuits of management as contrasted to alternative opportunities.