The article reviews the book "Federal Taxation: Research, Planning and Procedures,"Second Edition, by Fred W. Norwood, Sam W. Chisholm, Frank Burke Jr. and D. Michael Vaughan.

The article reviews the book "Federal Income Tax," by Charles B. Edelson, William O. Green and Ann H. Green.

This article examines whether the classification of countries into groups based on their accounting practices is the same whether measurement or disclosure practices are used to do the grouping. Data from the Price Waterhouse & Co. survey relating to these two subsets of accounting practices for 38 countries in 1973 and 46 countries in 1975 formed the data base. The groupings yielded by analyzing disclosure practices were found to be different from groupings based on measurement practices. A further analysis was then done to determine whether the same underlying environmental variables (such as the structure of the economy and trading affiliations of each country) were associated with the two groupings. It was found that although economic variables were related to the groupings, the specific variables most closely related to each subset were different. Because of these differences, it may be more difficult for policy makers to achieve harmonization of accounting practices than was previously realized.

Reviews the book "Proposed Funds Statement for Managers and Investors," by Harold B. Arnett.

The article reviews the book "Capital, Income and Decision Making: Introductory Readings in Accounting," edited by Ian Tilley and Peter Jubb.

[This paper analyzes an intertemporal production-investment model of the firm, which includes as a special case the adjustment cost model. Properties of the optimal value function are related to properties of the quasi-profit function. An intertemporal analogue of Hotelling's Lemma is derived, which allows derivation of optimal investment demand equations from knowledge of the optimal value function alone. A simple example illustrates the main results.]

The predictive content of the quantity-quality model of fertility and the empirical information required for verification under a minimal set of restrictions on the utility function is described. It is demonstrated that commodity-independent compensated price effects must be known to infer the existence of the unobservable interdependent shadow prices of the model with a relatively weak structure improsed on preference orderings. A method of using multiple birth events to substitute for these exogenous prices is proposed and applied to household data from India.

[We consider the intertemporal problem of optimally consuming a natural resource and exploring for new sources of supply of that resource. Resource consumption yields social utility while the exploration effort controls the uncertainty in the timings of discoveries as well as their magnitudes. The objective is to choose an optimal consumption and exploration policy so as to maximize the expected discounted utility of consumption net of the exploration cost over an infinite planning horizon. We present a controlled storage process model of the problem and under reasonable conditions we characterize the existence and the properties of optimal policies and prices.]