Accountancy and economics have the same objectives of cognition. Both branches examine the individual economic cell as well as the entire economic body of a country. In the center of these studies are the administration of scarce resources and the determination of income and production volume. It is often emphasized that the economist assumes the national, community or social point of view while the accountant is limited to the individual enterprise. But actually both branches have sections which deal with the national economy, that is, with the economic organism as an entity, or with the link between two or more national economies and both have sections dealing with firms, that is, with the ultimate bricks of this more highly organized structure. Business accounting can be regarded as that part of accountancy which is engaged in the studies of the firm, and microeconomics is its counterpart in economic analysis, while national accounting on one side, and macro-economics on the other, are dealing with the over-all picture of the economy.

Reviews the book, "Input-Output Analysis," by Shawki M. Farag.

The article focuses on recommendations made by the 1964 American Accounting Association Committee on Courses and Curricula--Electronic Data Processing. The committee recommended that at the undergraduate level, accounting students should be exposed to electronic data processing in stages. Added emphasis should be placed in the accounting systems course on logical information flows and on multi-dimensional information requirements rather than on the form and content of specific accounting records. At the master's degree level, the student must have at least the same proficiency as an undergraduate, but hopefully it will be at a more sophisticated level. At the doctoral level, accounting systems instruction is a distinct subject-matter area, as are accounting theory, internal accounting, taxes and auditing. A doctoral degree presumes at least a sound foundation knowledge in each of the broad accounting areas, with a high degree of expertise in the candidate's specialist area. The committee also recommended that substantial attention should be given both by individual schools and by the American Accounting Association, to the need for a re-orientation of accounting toward an analytical approach rather than one which is mainly descriptive.