Abstract Reviews the book "Introductory Accounting," by George R. Husband and William J. Schlatter.

Abstract Accountancy education, one of the newer fields of professional training, has developed rapidly in the United States in an effort to keep pace with the growth of the profession itself. If the accounting profession is to maintain its position of responsibility and respect, accountancy education must be maintained at a high level. The rapid growth of accountancy education in the past fifty years has resulted in a wide variety of types and levels of training. In 1945 there were at least 137 colleges and universities, recognized by state, regional, or national accrediting agencies, which had established schools of business. With the expanding scope of responsibilities of the accountant, the need is not for more accountants, but rather for more thorough and intensive preparation of those who do enter the profession. The State of New York has recognized the need for higher standards of professional preparation, when the requirement of graduation from an "approved" college was made a prerequisite to the CPA examination.

Abstract Reviews the book "American Transportation in Prosperity and Depression."

Abstract During periods of comparatively stable prices, it is possible that the advantages of the standard pricing plan for materials, in terms of ease of costing, would outweigh the loss of a more current cost obtainable by a replacement cost method of pricing. However, if standard costs are utilized during a year of sharply rising or sharply declining prices, cost of materials used and sales will not be stated in terms of dollars of equivalent purchasing power. Cost, from a current cost standpoint, may be at variance with standard costs. It is probable that the advantage of having the replacement cost of goods at standard quantity usage both in the finished goods account and the cost of sales account would transcend the loss of keeping these accounts completely at standard cost. From the point of view of comparing cost of sales and profits, either on a product or period basis, ratios of cost to sales and profits to sales would be more readily comparable, since costs and sales will be expressed approximately in terms of dollars of the same purchasing power.