From September 19-24, 1938, occurred the Fifth International Congress on Accounting in Berlin, Germany, which brought together German accountants and trustees, and representatives from appropriately forty foreign nations. This convention was again the occasion for discussions on the real status of the accounting profession within the new national pattern. To indicate the position of the German accountant is the object of this paper. The last five years have brought an abrupt about-face in political, cultural, social, economic and professional Thinking in Germany. No phase of national life has remained untouched. Because the efforts and endeavors of every individual are first to serve the welfare of all the people, the education of the individual to the ideology of National Socialism is a most necessary prerequisite. While alignment to the new pattern was accomplished very quickly in many fields, the professional occupations remained aloof from the new mode of thought; but now, with the aid of legal and educational forces, they, too, are following the trend. Among the professions, the accountant, whether private or public, has always occupied an honorable and important position.

Reviews the book "The Development of American Business and Banking Thought 1913-1936," by Charles C. Chapman.

Reviews the book "World Economic Survey, Sixth Year, 1936-37."

Reviews the book "Prosperity and Depression," by Gottfried von Haberler.

Reviews the book "International Short-Term Capital Movements," by Charles P. Kindleberger.

Reviews the book "Problems in Accounting," by W.A. Hosmer.

Reviews the book "The Income Structure of the United States," by Maurice Leven.

Reviews the book "The Federal Reserve Bank of San Francisco," by Parker B. Willis.

The article focuses on the effect of direct charges to surplus on the measurement of income. One of the principal functions of accounting is to measure income. It is widely recognized by those who have thought on the problem that the determination of the income of a corporation in a particular year is in part an expression of judgment or rather the result of a series of judgments on varied and often complex problems. The accuracy with which income is measured is determined by the quality of judgment and the nature of the accounting principles applied in the solution of these problems. Five areas are of primary importance in income determination. These are inventory valuation, depreciation, certain features of consolidation and inter-corporate relations, the policy in writing off expenses and asset revaluations to surplus, and the handling of investment portfolios. These vary in importance depending on the circumstances of particular corporations. Frequently other factors assume major importance, such as the determination of reserve for bad debts.

Reviews the book "The Problem of Business Failures," by Paul J. FitzPatrick.