Richard S. Bower, Frank C. Jen, Session Topic: Problems and Progress in the Application of Recent Developments in the Theory of Finance: Discussion, The Journal of Finance, Vol. 24, No. 2, Papers and Proceedings of the Twenty-Seventh Annual Meeting of the American Finance Association Chicago, Illinois December 28-30, 1968 (May, 1969), pp. 339-344

Abstract The article discusses the significance of introducing important tax provisions into advanced accounting. Many accounting courses could be improved significantly by the brief introduction of related tax considerations, preferably in a non-technical fashion. This is particularly true in the case of advanced accounting courses wherein consolidated financial reporting for multi-entity organizations is usually given considerable attention. Decisions regarding the form of corporate and tax reporting for multi-entity organizations are highly tax-influenced. Tax planning is the art of determining in advance what tax liability will result and then conducting transactions with a view toward reducing the income tax burden. In the area of multiple corporations' a group has a choice of accomplishing the same results by more than one method-one of which may result in a lower tax liability. In order to minimize the tax burden, however, management must understand the interrelationship between business operations and the tax liability. A chart was first developed as a testing device for an advanced accounting course. Since students performed so poorly on the question it was later utilized successfully as a teaching aid-originally in an advanced course and subsequently in a tax course.

Abstract The article discusses the investigation of accounting records. During an investigation of business records preserved in the manuscript section of the Baker Library at Harvard University Graduate School of Business, an early 19th century accounting primer was discovered. Various bookkeeping records and accounting procedures of mercantile companies operating during that period are outlined in the text. The book proved intrinsically interesting and also afforded the writer a useful guide to record keeping methods of early merchants. The purposes of this article are to describe the contents of the primer, to comment upon certain recording procedures of the early 1800's and to gain some insight into accounting methodology in the United States during this period. The value of the primer described in this paper is two-fold. First, the book is a valuable example of accounting instruction in the United States during the early 1800's. As such, it deserves recognition and preservation as an example of the evolution of accounting education and practice in the U.S. Second; students of business history would find the primer a useful preliminary study prior to examination of records of 19th century American businesses.