Knowledge that Transforms

Reviews the book "Operating Results of Department and Specialty Stores in 1932," by Carl N. Schmalz.

Abstract The article focuses on the planning of field work in accounting. One of the acute problems facing accounting departments in collegiate schools of business is that of bridging the gap between the work in the classroom and the accountant's activities in business. The field work plan for those students who wish to enter public accounting has been developed to establish a means whereby the students may gain some valuable experience before graduation. The plan which is described in these pages is the one which has been in successful operation at the Ohio State University for about six years. Being located adjacent to several cities of considerable size, it has been possible for the university to secure the cooperation of a sufficient number of public accounting firms to make the venture a success. Participation in the field work plan on the part of the students is not compulsory. The success of the venture would be jeopardized if it were to be made so. Only the better students are privileged to take part in the field work and even in these cases, it is purely optional.

Reviews the book "Performance of Department Stores: 1932," by Edgar H. Gault.

Reviews the book "Beforderungsunternehmungen zur See," by Otto Reuther.

Reviews the book "War Debts and World Prosperity," by Harold G. Moulton and Leo Pasvolsky.

Reviews the book "Department Store Food Service," by Ina M. Hamlin and Arthur H. Winakor.

Reviews the book "Commercial Education in the High School," by Fredrick G. Nichols.

Abstract A second course in accountancy at the University of Illinois, in the United States, is offered to students who have had one semester of accounting fundamentals. These students are, for the most part, second semester freshmen. The text used is the second volume of "Elementary Accounting," which includes discussions and problems involving certain refinements of the first semester's work as well as many new subjects not touched upon previously. When this text was first introduced at the university several years ago it was used in the customary way. Text assignments were made and discussed, followed by the assignment and discussion of one or more disrelated problems on the particular material in hand. In such a course, the development could not be as logical as it had been in the most elementary course. In the first semester's work the student was continually forced to go over material which had been gone over earlier. Each step in the development of this first course depended very definitely upon all preceding steps.

Abstract This article presents information on the financial and operating relationships. In order, to compare the statements of the average public utility with those of an industrial concern one should consider – Ratio of net worth to debt, number of times bond interest earned, Operating ratio, % of fluctuation in gross earnings, % of fluctuation of net income, ratio of net worth to fixed assets. The article also contains some questions related to financial relationships that help the student's to grasp and point out differences in different types of industry.

Reviews the book "The Principles of International Trade," by Huntly M. Sinclair.