Journal Article The Mechanism of Interregional Redistributions of Money Get access J. C. Gilbert J. C. Gilbert Dundee Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 5, Issue 3, June 1938, Pages 187–194, https://doi.org/10.2307/2967446 Published: 01 June 1938

Journal Article The Divisibility of Time Series Get access Elmer C. Bratt Elmer C. Bratt Bethlehem, Pennsylvania Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 5, Issue 2, February 1938, Pages 79–92, https://doi.org/10.2307/2967522 Published: 01 February 1938

I. Use of index numbers by Commissions, 105.— II. Advantages of the method, 107.— III. Suggested method of constructing such indexes, 108.— Legal requirements which must be met, 111.— Practical difficulties, 112.— Indexes must be supplemented, 114.— IV. Prospect of acceptance by the Courts, 115.

Pareto on the compound-interest principle, 641.— Increase of the foreign trade of the United States analyzed, 643.— The per capita figures, 647.— Increase of bank clearings, mining output, and manufacturing output, 649.—Increase of per capita expenditures of the federal government, 651.— Devaluation of the dollar, 652.— Increase of the national debt, 653.—Comparison with growth of foreign trade, 655.— Conclusion, 657.

Abstract A review of the accumulated criticisms of the American Accounting Association's "Tentative Statement of Accounting Principles" shows that points made are of two kinds, those concerned with various details and those expressing fundamental differences in point of view. Criticisms raise certain fundamental issues. For example, are accounting principles related to the function of accounting, and if so, what is that function? Are accounting principles to restrict or liberate managerial freedom to deal with changing conditions? In discussions of function there is a tendency to confuse central purpose with possible uses. Uses to which accounting data may be put are many and diverse, obviously, principles and procedure cannot be oriented equally well to all uses, nor can each use have its own set of principles and procedure. It may be said that accounting serves several purposes. If some of these purposes are in conflict, as they are very likely to be, accounting is then pulled this way by one interest and that way by another, and as a result one cannot say that a corporation's financial statements are continuously in accord with a single coordinated body of accounting theory.

Abstract The article focuses on test for principles. The word principles has been extensively used by both accounting practitioners and academic writers with little discrimination in the context between the truths of accountancy and the practices of accountants. In a treatise for educational use, inclusiveness may be necessary so that accounting will be presented as a whole. But the student cannot be well trained in clear thinking unless the elements out of which the subject matter is constructed are clearly distinguished one from another. There is a growing movement, in the interest of clear thinking and orderly practice, toward the formulation of concise propositions regarding accounting. Each of these aspects is complementary to the other, and both need to be held in mind for true comprehension. But it is a task of some moment to classify numerous propositions as either rules or principles, for none of them can be both. To do so one needs more than dictionary definitions. A test by which to recognize a proposition as a statement of accounting principle is needed. Those propositions which do not meet the test may be useful statements of accounting rules.

Abstract Almost four years have passed since the enactment of the Securities Exchange Act of 1934, creating the U.S. Securities and Exchange Commission and transferring the administration of the Securities Act of 1933 from the Federal Trade Commission. Both Acts, viewed as a framework of regulation, implicitly assume the validity of traditional economic premises of securities distribution and trading, and the usefulness of the forms and mechanisms which had been developed to accommodate securities transactions. The legislation did not seek to fashion new instruments of investment procedure nor the alteration of basic concepts of the function of the investment banking process in the national economy. The process was to be invigorated and fortified by dissemination of information relating to the merchandise circulating in the markets. Administrative responsibility under the statutes is phrased in terms of protection of investors, and administrative authority, broadly speaking, is phrased in terms of disclosure.