Abstract The Federal income tax chart for 1936 has been devised as an aid in visualizing the effect of the rates of income and excess-profits tax applicable to corporations for fiscal periods ending after November 20, 1936. A new declared value for capital stock and surplus is to be made as at June 30, 1936 and because the rates of excess-profits tax have been increased from 5 percent to 6 percent, the minimum amount at which such value should be declared warrants careful study. Each $1,000 of declared value will be taxed at $1.40, a failure to declare the necessary minimum means an excess-profits tax at $6 or $152 for each $11 ,000 deficiency of declared value. The chart defines the various brackets in which the possible combinations of income and adjusted declared value will fall. In each bracket appears a formula from which the computation of the total tax may be made. Vertical lines represent adjusted declared values in thousands of dollars, the ratios of net income to adjusted declared values.

Abstract Accounting and teachers of accounting have been observing with considerable interest the steady development of business budgeting, especially during the past fifteen years. To many accountants this procedure seemed to be a misuse of accounting data and any such professed forecasting of business operations appeared to be unreliable, if not altogether impossible. As time went on, however, budgeting was thoroughly tried out and tested by management. Many experiments were made. Budgetary methods were studied. Cost accountants were open-minded and contributed generously to the development of its technique and procedures. Executives and financial accountants also tried their hand at the preparation of budgetary estimates. Cost accountants, like financial accountants, aim to interpret their own records. Cost accountants are now performing an increasingly large amount of the interpretation function of accounting, for the purpose of giving management promptly informational data on current operations. Standard costs and standardized revenues cannot be ascertained without interpreting fully the accounting records of past and present performance.

Abstract In this article the author discusses various methods of teaching cost accounting to accountancy students. It is apparent that the instructor may have either of two points of view in teaching accounting. The subject may be considered primarily as a skill, a technique, or a method of recording and summarizing the facts of business transactions. With such an aim, emphasis will be placed upon the accounting processes and much time will be spent on accounting procedure. On the other hand, accounting may very well serve the useful purpose of providing a method for teaching business processes. Cost Accounting is a very specialized, detailed technique and is concerned with bringing an intelligent order out of a mass of details. But, it may be more than that for the college student, for it is in the field of costs that accounting touches so closely that division of economics, production, and most easily understood by him. According to the author, if a study of cost accounting throws new light upon economic values, then, one may believe, the student has acquired a deeper insight into the social structure; has been given a useful key to other values.

Reviews the book "The Federal Tax Course."

Abstract Definition in its popular sense is the process of delimiting a concept or thing with the object of establishing that usage for a word or phrase, which has significance common to all persons. Definition is also popularly understood to be the expression through which the limits of the concept or thing are set up. Without definition, or with more than a single definition in common use, situations frequently arise where no exact medium of communication exists. Probably every person has had the experience of participating in protracted disputatious only to discover in the end that he and his opponent had been talking different languages. Within the realm of logic, definition has as its purpose the determination of the qualities of universals. Hence it may be said that the necessity of a common language and the necessity of building up an adequate background for the introduction of logical principles place upon one as accountants the burden of exploring thoroughly the requirements of good definition.