Abstract The article focuses on accepted principles of accounting. A person unacquainted with accounting or the work of professional accountants, might suppose that the accepted principles of accounting are embodied in definite form somewhere in accounting literature. He might expect to find an official document-a code, or set of regulations, or series of court decisions on the subject. In any field it may be true that the broad fundamental principles are so generally known and universally accepted that their formal statement becomes unnecessary. It is accepted without argument that the ordinary financial statement of a business enterprise is presented on a going concern basis, that conservative provision should be made for probable losses, while profits are not recognized until fully realized. There are a number of vital points, however, on which no such agreement exists. There is no official declaration covering them, and they are not covered positively and uniformly in the accounting textbooks or elsewhere in the literature of the profession. Accounting practice discloses only a complete uncertainty as to what constitutes the accepted principle which should be applied.

Reviews the book "Cost Accounting," by John J. W. Neuner.

Abstract The Executive Committee of the American Accounting Association has presented a tentative statement of principles, which deals with these questionable points. Everything that appears in this list could be definitely disposed of by every accountant if those principles, or rules, or standards, or conventions, or whatever you want to call them, were universally observed. But, if the universal observance of those particular rules and conventions and standards is not most desirable, then it behaves the accounting profession and those who are teachers and research workers in this field to decide what rules should apply. If qualifications and exceptions are necessary in connection with them, then the problem is to state them. It is a difficult, complicated task, but it is not impossible. Only our diffidence, our preoccupation with other matters, a certain degree of inertia in tackling these things, prevents our getting this job done in some satisfactory fashion. in some satisfactory fashion.

Abstract 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.

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

Reviews the book "Elementary Accounting," by George H. Newlove, Leo C. Haynes and John A. White.