Abstract The article discusses generally acceptable objectives formulated to guide the development of course content, instruction, and curricula for the undergraduate program in accounting. These can be checked for validity by applying the test of reasonableness. This is a widely used accounting test, particularly in cost distributions. This same test is used to evaluate the pronouncements of the Research Committees of the American Institute of Accountants. The Standards Rating Committee has proposed a four-year program, while many hold the viewpoint that either five-year courses, or four years of undergraduate work, and one year of graduate work, are necessary for adequate training. The committee apparently favors a five-year program, but at the same time recognizes the inherent difficulty of such at this time. Specialization is necessary but not at the undergraduate level. A broad foundation will enable the student to become a better specialist. The failure to provide a means which will enable the student to integrate the many ideas received in diverse courses is another deficiency.

Abstract The article discusses the concept of declining-balance depreciation. The article consists of three formulas which can be useful where computations as to periodic or accumulated depreciation under a declining-balance method are required. Just as a premature disclosure of the guilty party of a good mystery can spoil the plot, so can the disclosure of the derivation of a formula spoil the fun for those interested in such. The calculation of periodic declining-balance depreciation is provided by a formula. For purposes of illustration, the author assumes that an asset costing $10,000 has an estimated life of twenty years, or a ten percent rate for double-declining balance depreciation. Accumulated depreciation at the beginning of the nth year is computed by the formula, when declining-balance depreciation is used. The article presents a table which indicates the undepreciated balance of the asset at the end of the period. Where a large number of unit accounts are maintained and tests are to be made of the computations of depreciation, similar tables with appropriate values can be constructed to facilitate such test checks.

Abstract When costs are incurred for purposes of generating revenue, useful information can be obtained by a measurement of such costs and a consequent matching with revenue. As investment purposes shift to social benefit, either in part or in whole, a crucial question as to the relevancy of costs and revenue arises. A portion of total costs incurred may be considered as related to the ensuing revenue, but the problem of prorating such costs between the two ends, revenue and social benefit, is insurmountable. The problem of allocating joint costs to products seems relatively simple by comparison. No such allocation need be made however, for an absence of revenue indicates a greater deficit to be covered by groups other than patients. Inasmuch as the residual of such matching would be affected by many elements other than revenue, it is believed that the term "net income" is grossly misleading, particularly so if identified as that of a fund rather than the economic unit. It is further believed that a measurement of total costs matched with asset in- flows can contribute to an important question-the cost-shares to be bone by various groups. The usefulness of the fund structure is such that no attempt should be made to impose depreciation upon the Statement of Revenue and Expenditures. It is suggested instead that in addition to other statements, a new statement be prepared designed to show costs of operations and how the burden of such was distributed. This suggestion is illustrated in the following statement.

Abstract The presentation of the subject of installment accounting, if guided by the material of many texts, is a difficult task which too often leaves the student, at least the average student, confused. This confusion arises from the obscure relationship between the procedures and the objectives. This relationship is obscure because the usual procedures approach the objectives in a round-about fashion, and have no apparent similarity to material already mastered by the student. When the students have reached the level where installment accounting is studied, they are sensitive to procedures, for so many tests have stressed journal entries, adjusting entries, and computations. Since the procedures of accounting for installment transactions appear to differ so radically from those of ordinary transactions, the student feels that the subject matter is foreign to other accounting topics. Instruction in installment accounting should emphasize income determination, but because of procedural difficulties, stress has too often been placed on the journal entries. By following familiar patterns, procedures will be clarified and stress can be placed on the recognition of income and the circumstances existing in various businesses which serve as dues for the recognition of income.