The Conversion of the English Debt Get access A. C. Miller A. C. Miller Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 4, Issue 4, July 1890, Pages 437–448, https://doi.org/10.2307/1881747 Published: 01 July 1890

Journal Article The International Protection of Workmen Get access A. C. Miller A. C. Miller Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 3, Issue 4, July 1889, Pages 481–496, https://doi.org/10.2307/1879644 Published: 01 July 1889

The article discusses the controversy over accounting for goodwill. Such issue has been existing for many years, and the recurrence of the problem shows that goodwill is indicative of a more fundamental problem in financial accounting theory. In an attempt to explore the goodwill phenomenon, financial accounting was analyzed from a systems-theoretic perspective. The article explains that accounting entities can be and are usefully conceived as open systems. The concept of open systems indicates the desirability of financial accounting theory being brought more in line with the emergence of management information systems.

The Standards Rating Committee was appointed in 1949 for a period of five years upon authorization of The Executive Committee, meeting in Columbus, Ohio in May 1948. This committee continued the work of similar committees appointed and serving during the calendar years 1947 and 1948. A portion of the program of study by the committee has now been tentatively completed. This report is therefore submitted with the hope that it will be given full publicity to the members of this Association and generally to all interested persons. The primary objectives of the Committee were agreed upon at the first meeting. These objectives may be suggested by the needs expressed in the following statements adopted unanimously by the Committee. The Committee has therefore attempted to bring out a suggested program of acceptable standards. It is important that proposals herein be accepted generally and put into effect as quickly as feasible in the framework of educational institutional procedure or that objections, criticisms and suggestions be made for the purpose of restatement and revision.

It is always difficult to disagree with the logic of an argument presented by Professor W. A. Paton. His article published in the January 1949, issue of the journal "The Accounting Review," presents a devastating barrage of reductio ad absurdum, invective, and fascinating wit, which may too readily be accepted by his readers. The issues at stake should be drawn dearly. Irrelevant comments and argument based upon false assumptions should be discarded before there is any disposition to repudiate the statement, Accounting Concepts and Standards Underlying Corporate Financial Statements. It should not be assumed that because of insistence upon the use of recorded cost as the only available objective information there is any suggestion of belief in or advocacy for the proposition that careful consideration should not be given to important changes such as may be found in price level changes and many other considerations. However, such considerations lie wholly beyond and outside of the area of basic corporate financial statements and at the same time may be said to lie within the area of managerial judgment, investment analysis, and interpretation. In the latter area, it is to be assumed that the accountant of integrity, competence and social responsibility may make a valuable contribution.

The article discusses various aspects of cost inspection in the U.S. Navy. The writer has made a number of appointments of college graduates who have had training in accounting, but have had limited or almost no experience. These have, of course, been in the lower grades under civil-service classifications. The results produced by such appointees have been extremely gratifying. In the opinion of the writer, there is neither a basis nor justification for any adverse criticism or reservation concerning the adequacy of the training, the capacity, the devotion to duty, the loyalty, or the general adaptability of these appointees. It is believed that many employers of college graduates who insist upon the "top ten or fifteen per cent" of a senior class are overlooking many fine opportunities for obtaining capable, loyal, and efficient workers. It must not be overlooked, however, that the excellent results observed in the experiences mentioned above may be attributed in part to a capable and trained technical principal accountant and accountant, thus affording excellent supervision and direction of the less experienced personnel.

This article focuses on governmental accounting education in the U.S. The position of the 1937 Committee on Education of the American Accounting Association appears to have been so widely misunderstood that a brief statement of clarification seems proper. Particularly, the failure of the committee to include governmental accounting in the syllabus, except under the Maximum Program, has been rather sharply criticized. An elaboration of such additional graduate work was not attempted at that time and no further statement has been made since. It was the opinion of the committee, however, that the place of governmental accounting lies somewhere in the senior elective area or in the graduate years. It is hoped that a further development will come through a study of offerings of universities and colleges whose graduates are presumed to have been prepared for the profession of accountancy. A grading, and classifying of curricula of various educational institutions should be undertaken, and the committee doing such work should be widely representative. It would, however, be futile to attempt such a task until the syllabus has been subjected to the most severe criticism.

The 1937 committee on education of the American Accounting Association undertook the task of developing the details of a program providing 60 hours of technical training for the profession of accountancy. It was intended to correlate this program as nearly as possible with the report of the committee on education of the American Institute of Accountants (AIA). Recognizing the desirability of a flexible program which might be suitable for the various types and conditions of educational institutions, the report of the committee incorporates three separate and distinct programs which should be considered together as one general program with boundary limits established. These are designated as the recommended program, the minimum program and the maximum program. In this connection the terms minimum and maximum are used to indicate the amount of concentration in business and accounting subjects. The report of the committee thus covers a rather broad band of concentration varying from 33 hours to 87 hours out of a total of 120 hours usually required for graduation. The recommended program, in conformity with the report of the AIA committee on education, provides exactly 60 hours of business and accounting concentration.

Through the cooperation of some of the members of the accounting association a list of accounting theses for a master's degree has been compiled. Requests for titles approved during the past five years were sent to 46 universities represented in The American Association of Collegiate Schools of Business. Thirty-eight answers were received. Ten of those replying indicated that no graduate work in accounting, as a major field, has been done. Four more indicated that the thesis requirement has been abolished or waived. Twenty-four replies listed titles numbering more than 415, but the excess over that number represented subjects approved prior to 1919, doctors' dissertations, or bachelors' honors reports. Elementary, intermediate, and advanced or special courses such as cost accounting, auditing, income tax, budgeting, accounting systems and problem review must be made a part of the equipment of the graduate accounting student who would carry on research in his chosen field. Probably nothing, which the average graduate student must do is as difficult for him as the selection and statement of his thesis subject.