Knowledge that Transforms

Reviews the book "The Credit Problem," by E.F.M. Durbin.

Reviews the book "The Literature of Business Statistics," by Olin W. Blackett.

Business management as an advanced course will necessarily differ from such a course given as an introduction to the subject. Since the student may have studied marketing, corporation finance, accounting and possibly some management courses, the advanced course in management must stress those principles of organization and executive control, which have not been adequately considered elsewhere, or it must serve in some way to build upon the specialized courses. Nine of the eighty-one universities give one or more advanced courses in management. Fundamental principles underlying efficient management, correct office procedure, economies gained through plant location and plant layout, the routing and storing of products and standard operating practices are among the topics discussed, with approximately half of the semester devoted to reports prepared by members of the class. The advanced course, a seminar, emphasizes effective working methods and systems, work of executives, methods used in establishing and maintaining control, different types of management and control methods used in different industries.

Reviews the book "The National Debt and Government Credit."

Reviews the book "Financial Audits," by D.L. Trouant.

The article discusses fundamental distinction in the concepts of capital and income as employed by economists and accountants with regard to ordinary business and as applied to public-utility regulation. This concept appears in two kinds of undertakings. The first is concerned with private interests, and the second with public as well as private interests. In the one, there is the underlying consideration and measurement of private industrial values and income, in the other, there is basically the determination and administration of public rights in properties dedicated to special public use. The concepts have been developed and are generally used as private business categories. They are associated with private economy, and so represent "capitalism" which generally prevails as the dominant system in the national economic organization. Along with the system of private business or capitalism, there has been also parallel advance of publicly or governmentally organized economic activity. There has also been progressive demarcation of private organization with respect to public interest.

This article discusses concepts of capital and income. In December 1936, a joint session of economists and the accountants was held in which they discussed fundamental concepts and theories of capital and income. Since both the economists and the accountants deal in large part of common group of phenomena, it is important that any gaps, which may exist between economic theory and accounting theory, should be unbridged. The concepts of capital and income lie at the very heart of many economic and accounting problems that are of great concern from the standpoint of formulation and administration of public policies. In the session, economist Frank Albert Fetter discussed his major's interest of career and he elaborated the introductory marks on the study of economic theory, terminology and their history. Accountants can most effectively genre both their private clients and the public interest; they can develop accounting principles that have a secure foundation in sound economic theory. Economists can better explain a profit-seeking economy.

Reviews the book "Office Management," by John H. MacDonald.

Reviews the book "Expenses and Profits of Limited Price Variety Chains in 1936," by Malcolm P. McNair.

Reviews the book "The Reserve Banks and the Money Market," by W. Randolph Burgess.