From the outset the U.S. Securities and Exchange Commission has been sympathetic to this point of view and has sought the advice of leading accounting authorities in teaching, public practice, and among executives of corporations investment bankers, and financial analysts in the preparation of rules, regulations, and forms necessary in the administration of the acts which authorize the Commission to prescribe the forms, items, and details of financial statements to be filed generally, uniform systems of accounts, principles to be followed by registered investment companies in maintaining their accounting records and in preparing financial statements. On individual problems, however, where experience has disclosed serious discrepancies in practice as between companies and accountants and one has felt that uniformity in procedure would benefit investors by rule or regulation of the Commission or in an opinion of the chief accountant. It is imperative, therefore, that the Commission make certain that the financial statements contained in registration statements be completely unequivocal and are not used as a proving ground for innovational presentations.

Reviews the book "Industrial Accounting," by Samuel W. Specthrie.

Reviews the book "Principal and Governmental Accounting," by Carl H. Chatters and Irving Tenner.

The topic assigned, that of discussing the graduate accounting curriculum from the viewpoint of schools offering undergraduate concentration in accounting, presents an opportunity to explore various phases of a most interesting and important subject. Prior to the twentieth century graduate work appeared to be limited to a high type of scholarship looking toward an intellectual career as opposed to a professional career. Accounting is universally recognized today as a profession ranking close if not on par with the older professional pursuits. The American Institute of Accountants has made extensive progress in preparing tests to ferret out those individuals with accounting aptitudes. Of late there has been developing some sentiment among some professors in some schools that the time put into writing a formal thesis could be better used in some other direction, such as additional courses or even field work. The MBA candidate should be required to pass a comprehensive test either written or oral or both. This examination to have any meaning and significance should be taken seriously by the examining committee as well as by the candidate.

Reviews the book "Internal Control Standards and Related Auditing Procedures," by Walter H. Kamp and James A. Cashin.

Reviews the book "Records Management and Filing Operations," by Margaret K. Odell and Earl P. Strong.

Reviews the book "Office Management," by John H. MacDonald.

Reviews the book "Manual on Commercial Law," by A. Lincoln Lavine.

Reviews the book "Preparatory Business Mathematics," by Lloyd L. Smail.