This article discusses the teaching of social accounting. In the last ten years, the two fields--accounting and economics have been drawn closer together, because professional accountants and professional economists increasingly utilize the same data in their work. The highly technical literature on depreciation policy and inventory valuation is sufficient to indicate that an unequivocal concept of either business income or national income is scarcely possible under current conditions. In other words, an accountant or an economist frequently must outline his own set of definitions, the over-riding consideration being the usefulness of the definitions, with the long-term aim of achieving greater uniformity. In the development of useful accounting principles, the practitioner has not confined himself to transactions made within business enterprise. Generally speaking, practicing and teaching accountants have not devoted enough effort to the bold experiment of correlating their discipline with that of the many-faceted field of modern economics.

Reviews the book "Management Accounting," by Robert N. Anthony.

The recent move by the treasury department in furnishing high schools with materials designed to provide students with a rudimentary knowledge of the vagaries of Form 1040 seems a wise if belated recognition of the fact that the ability to determine his annual income tax has become the duty of almost every U. S. citizen. Despite most television comedians to the contrary, the ability to make a self determination of personal income tax due is a task which the avenge literate citizen can perform in an evening's sitting with the aid of an instruction booklet. It is true that an evaluation of some of the major provisions of income tax laws is covered in courses in public finance, and the effect of certain income tax provisions is treated in varying degree in other business administration courses. In developing a course in income taxation to fit the needs of potential business administrators there will be the inevitable temptation to title the course "Tax Management" and to describe it in terms of a study of tax minimization through planning business activities.

The article reports on the events in the field of accounting education. George Gibbs was reappointed to a four-year term on the state board of accountancy. E.I. Fjeld, formerly of the College of the City of New York, joined the staff in September as visiting professor of accounting. Willard Horwich was appointed assistant professor of accounting this fall. T. Leroy Mami conducted a three day Institute in Hospital Accounting under the auspices of the Mississippi Hospital Association at Gulf port in July. May Noel Barron returned to the campus after a 15-month leave of absence, during which time she served as assistant auditor for the State of Kentucky. Emerson C. Erb has been granted leave of absence for one year to continue work on his doctorate at Indiana University. William D. Tuxbury was added to the staff in September. H. Calvert Krueger has accepted a position at Arizona State College. Francis D. Jabara received his CPA certificate in Kansas last December. The Second Annual Petroleum Accounting Conference was held on the campus in May with over 250 persons attending.

T HIS article deals with two problems. (i) empirical evidence regarding the average rate of real estate in the United States; and (2) an analysis of factors affecting the rate. By effective rate of real estate taxation is meant the ratio of real estate taxes to current market value of real property. The discussion here is restricted to the of owner-occupied nonf arm homes.

T HIS article is based on a milk supply adjustment study. A primary objective was to test the use of linear programming techniques on the problems of farmers: how useful it would be for telling farmers what production adjustments would pay in response to changes in technical and economic conditions. The empirical results illustrate particular extensions in the application of programming techniques, but, more important, the results are of interest from two viewpoints: first, they indicate profitable lines of change in production when facing a range of changes in conditions of factor supply, prices of labor, prices of milk, and technical possibilities. Second, they offer reasonable explanations of changes taking place in important sectors in the southern states. The data were drawn largely from dairy farms in the Piedmont areas of North Carolina, but the empirical results should also apply in general to the much larger Piedmont region of the South and, to a somewhat lesser extent, to the larger areas in which cotton and tobacco are major crops. Production of milk for fluid use increased rapidly on these farms in the North Carolina Piedmont areas between I949 and I954. Expansion of dairying was accompanied by certain changes: enlargement of smaller farms by the renting of additional land, an increase in production of pasture and hay, shifts from lower-producing breeds to the Holstein breed, elimination of cotton or tobacco on many of the dairy farms, reduction in labor supply, and an increase in use of tractors. Assumptions

J. Black, A. E. de Jasay; Speculation and the Rate of Interest*, The Review of Economic Studies, Volume 24, Issue 2, 1 February 1957, Pages 95–110, https:/