Reviews the book "Auditing Principles," by W.B. Jencks.

Reviews the book "The Elements of Accounting," by L. Goldberg and V.R. Hill.

Reviews the book "Elementary Accounting Techniques," by Frank J. Devlin, Francis J. McGurr and Robert S. More.

Abstract Many accounting professors complain that too much emphasis is placed on the mechanics and techniques in the elementary course. The mechanics have been reduced appreciably in many of the more popular textbooks being used today, but one still require the student to learn debit and credit technique. The debit and credit methodology is introduced very early in the course, usually in the first or second chapter, and from then on many of the illustrations rely solely on this technique to disclose or display both the "why" and "how" of a concept. This reliance on a record-keeping technique leads to an in-adequate understanding of the underlying principles and concepts in the elementary course. The emphasis is on an answer which is expressed as a debit and credit entry. Students and teachers alike fall a victim to this and use the mechanics as a "crutch". There is nothing basically wrong with teaching debit and credit technique. Every major should be thoroughly familiar with all the mechanics, and more, that are traditionally found in the beginning course.

Abstract One of the more troublesome hurdles facing the student in his first exposure to common dollar accounting is the reconciliation of changes in converted Retained Earnings. Even when he has satisfied himself of the way in which the converted net income figure is obtained, the gains and losses arising from holding monetary items during a period of price instability are apt to puzzle him. It is not only that their computation is initially hard to follow. Worse than that, these gains and losses are the one sort of item on the converted financial statements that does not correspond in a one-to-one fashion with an item already on the conventional, unconverted financial statements. Even when he has partially mastered the mechanical problem of calculating the related gains and losses, he will often be engaging in a sort of ritual rather than obtaining any real insight into what he is doing. In cases of this sort, it is sometimes helpful for the student to have an alternate way of looking at the thing that troubles him, a chance to see it emerge in another role.

Abstract This article presents a question paper prepared by the auditing section of the American Institute of Certified Public Accountants (C.P.A) for November 1964 Uniform C.P.A. examination which held on November 5, 1964.

Abstract This article focuses on the accounting method used in a gross profit computation. In order to remove the effect of sales price fluctuations, the variable rate used is based on the 1961 sales price. However, the 1962 rate is more indicative of present and future cost prices. Thus, either the 60% rate or the 54.5% rate, which is the 60% rate applied to 1961 sales dollars, appears to be the acceptable choice.

Abstract The complexity of today's business environment has motivated many researchers in mathematics and the management sciences to search for and experiment with devices and techniques designed to increase the effectiveness of decision making. This quest for new methodologies has been spurred on by the increased usage of electronic computers since the large data out-put of EDP systems is difficult to absorb and interpret with conventional methods. This research has been implemented by a number of important advances in the fields of applied mathematics and statistics. An important group of techniques have appeared recently utilizing mathematics and statistics as one approach to optimal or at least more effective problem solving. Many of the methods developed are of significant potential value to the accounting profession. And, likewise, many of today's accounting techniques could be successfully integrated with the emerging body of mathematical methods. Accounting educators have the opportunity presently to provide business with a new type of specialist versed both in accounting and mathematical methods.

Abstract Many forces both within and without the academic arena have focused attention in recent years upon the content and quality of American education. Over the years various education study committees of the American Accounting Association and the American Institute of Certified Public Accountants, as well as representatives of other interested groups, and individuals, have considered both the problems of total curriculum and content of specific courses in accounting education, of which taxation is traditionally a part. More recently the 1961 Committee on Income Tax Instruction of the American Accounting Association rendered a report embodying a statement of the recommended aims and objectives of income tax instruction. The survey revealed that in the opinion of 70 per cent of the responding professors the objective of the first course should be no different if students take a single course than if they take additional tax courses. A minority of 30 percent, however, favor an extended subject matter coverage and a broad approach to the first course, with a shifting of technique and professional emphasis to the second course when a two course sequence is typical for students.

Abstract The Division of Public Accounting offers instruction for students who desire a career in accounting and it is particularly oriented towards the public accounting profession in the United States. The students in the Division of Business Administration desire a broad, general business education and do not intend to make a career of accounting. The method of instruction and course content has proven very satisfactory for the public accounting students but quite inadequate for the business administration students. The public accounting students are anxious to learn how to solve specific, technical income tax problems and how to perform detailed tax computations and analyses. This kind of work will make up an important part of their assignments in the field of public accounting. All of the students in the Division of Public Accounting have studied many accounting subjects before enrolling in the federal income tax course. Of course, the study of federal income taxes comes much easier and more quickly for students who have a good accounting foundation than for those who do not.