Knowledge that Transforms

Reviews the book "Business Under the Recovery Act," by Robert Valenstein and E.B. Weiss.

Reviews the book "The Accountants' Compendium," by Sidney Stanley Dawaon.

Reviews the book "The Valuation of Real Estate," by Frederick W. Babcock.

Reviews the book "The Secretary's Manual," by Larrae A. Haydon and Cyrus Garnsey.

Abstract The article focuses on the cost approach in accounting. The use of the cost approach was not an attempt to teach cost finding but rather to introduce the students to the subject through the use of simple logic of the interrelation of the main accounts of factory bookkeeping. In other methods of approach the student is too often told to do it this way, if the student can only be taught to understand as he goes along the advanced work in the subject will be more easily grasped. After the student thoroughly understood the elementary definitions, work was started on actual manufacturing. In presenting the books of original entry, no new problems were used. The class it worked the old problems which eliminated the need for analysis of transactions and still give them a review of all that had been covered before. The reasoning back of such a plan is ideal, but in actual practice it was not as successful as had been anticipated. Selling and administrative expenses were presented alter the books of original entry.

Reviews the book "Financial Examinations," by F.W. Thornton.

Reviews the book "The Modern Corporation and Private Property," by Adolf A. Berle and Gardiner C. Means.

Reviews the book "Expenses and Profits of Department Store Chains and Department Store Ownerships Groups in 1931," by Malcolm P. McNair.

Abstract The article focuses on socialized accounts in the United States. The author says that the industrial evolution is important in the United States. The new era of the twenties was real as its ideal of full production and abundant living is not lost. The first phase of the evolution of accountancy was likewise the longest. It consisted of two distinct movements. The earliest was concerned with the formation of the accounting mechanism or methodology-bookkeeping; the later movement covered the expansion of double-entry methodology to suit subsequent conditions. An account for money as well as goods is not difficult to reconstruct. A consciousness of proprietorship is more fundamental to the expansion of account-keeping into double entry bookkeeping than bilateral accounts, subtraction by contraentry, equality of debit and credit, or any the other peculiarities of double entry. The second phase of accountancy is related to attempts to secure some measure of control over private affairs in the social interest. The approach was through enforcing a partial sharing of otherwise private business data, of instituting, as it were, semi-public accounts. The third phase will probably carry the socialization of accounts still further.

Reviews the book "Expenses and Profits of Variety Chains in 1931 Compared with 1929," by M.P. McNair.