Reviews the book "Corporate Finance," by Elvin F. Donaldson.

Abstract The two terms, microaccounting and macroaccounting, are created mainly for the purpose of recognizing the extent of the progress of accounting today. The term macroaccounting has the advantage over others in identifying explicitly the area to which accounting is applied. Macroaccounting is still expanding and the discussion of its six major branches in this paper is by no means exhaustive. Macroaccounting may be studied at two levels, business macroaccounting and economic macroaccounting. It is obvious that in this paper efforts have mostly been devoted to the former. Eventually, a set of conventions, assumptions, and standards for macroaccounting will be developed as in microaccounting. It is also suggested that most of the principles and standards of microaccounting may be applied to macroaccounting with modifications and additions. In examining the various branches of macroaccounting, one must note that the development of a national balance sheet has lagged behind in a manner that tends to cripple the entire system of macroaccounting. Another major task is to integrate the several branches of macroaccounting regarding classifications of accounts and systems of recording transactions. Only in this way can the full usefulness of macro- accounting be reached. The problem of the valuation basis is a complex one. No single method can answer all the questions. No matter what valuation bases are selected, the principles of consistency and comparability should be strictly observed. The need for offering macroaccounting courses in accounting departments was also suggested.

Reviews the book "Regional Income."

Reviews the book "Accounting for Community Chests and United Funds."

Abstract In this article, the author evaluates the faculty services with respect to the problems involved in awarding tenure and approval of promotion in rank. He mentions the criteria for promotion, appointment, tenure and salaries of faculty members for universities, liberal art colleges and technical schools. He describes a permanent tenure as the most important part of his professional life and details the standards of judgment used in making the decision of awarding a permanent tenure or not. He describes the steps involved in the evaluation process and the difficulties included in this comparison. He further mentions that examination by committees called impartial juries is one of the best ways of comparison. He discusses the shortcomings in the suggestion that promotion should be decided on the basis of the confidence an administrator has in the department and heads of departments. He finally mentions that there should be a considerable amount of integration between the promotion, tenure decision, salary decisions and decision on initial appointment.

Abstract : This paper considers optimization problems in which some or all variables must take on integral values. An ability to solve such problems would be valuable in itself and would also allow handling certain kinds of heretofore intractable 'economies of scale'. An automatic algorithm for solving such problems is not given. A general approach susceptible of individual variations, depending upon the problem and the judgment of the user is presented. Two moderate-size examples are presented to illustrate the method. (Author)