Abstract According to the author one will note that he avoided many current professional auditing problems. There are quite a number of these that are interesting which may be mentioned even though he had elected not to discuss them. The teaching of accounting and auditing has come a very long way since the author studied the two subjects in a course in commerce in his university days. In his case, there is a span of forty years of contact with the teaching of accounting. He thinks the teaching has more than kept pace with the development of the profession, and it has contributed immeasurably to the success of the profession. The development of the collegiate courses in accounting and auditing is not in the hands of the practical practicing accountants, but properly it is dependent upon the wisdom of the professional educators. In his opinion, the profession can have complete confidence that the teaching of accounting will keep pace with the needs of the profession. According to the author the profession is not satisfied that it has reached proper standards of disclosure. At the present time, the desires of the public for more information clash with the desires of management to disclose no information that will be competitively harmful or, by increasing the problems of management, are harmful to the owners of the business.

Abstract One of the important practical problems in governmental accounting is the preparation of reports the essentials of which can be understood by the reasonable informed portion of the public. There are two methods of approach to the problem of increasing the public's understanding of financial reports. One approach is through education, colleges and universities have been doing practically all the educating that has been done. Through the colleges, the courses of business administration have been sending forth each year a substantial number of people who, being fairly conversant with the various problems of municipal accounting, were in a position to understand the financial reports of their various communities if, as, and when presented to them. The second approach to the problem is in the presentation of municipal financial reports. Each report when issued might contain some explanation of the operation of the fund principle upon which the reports are prepared. Care must be exercised in the number of funds displayed in these columnar reports, and often combination of similar funds can properly be made for this columnar presentation. Certainly the report to be effective must make comparisons of the budgets with the actual performance. Each report requires careful study so that such budget comparisons may be informative without being so voluminous as to be confusing.

Abstract The article presents information about a Committee appointed by the American Accounting Association. The work of the Committee on Monographs during the year, 1943, has been devoted primarily to two projects. The first consisted of preparing a compilation of the releases and pronouncements on accounting matters issued by the Securities and Exchange Commission, the Committee on Accounting Procedure and the Committee on Auditing Procedure of the American Institute of Accountants. The second project was the preparation of a monograph on the principles of consolidated statements. This monograph was written by Dr. Maurice Moonitz of Stanford University, and was reviewed and approved for publication by the Committee. The Committee has also given some attention to two or three other projects and manuscripts. The president of the Committee said that the educational institutions and programs are all being subjected to special stresses and difficult restrictions during the war. The programs of most colleges and universities in fields customarily followed by men have had to be materially curtailed or completely eliminated.