Reviews the book "Basic Auditing Principles," 4th ed., by Arthur W. Holmes and Wayne S. Overmeyer.

Reviews the book "The Accounting Primer: An Introduction to Financial Accounting," by Thomas J. Burns and Harvey S. Hendrickson.

Reviews the book "Auditing Looks Ahead: Proceedings of the 1972 Touche Ross/University of Kansas Symposium on Auditing Problems," edited by Howard F. Stettler.

Reviews the book "Unaccountable Accounting," by Abraham J. Briloff.

The article discusses a study on the impact of certified public accountant (CPA) review course on the expectations of candidates about CPA examination. Results indicated that the ingredients for success on the CPA examination are positive attitude and motivation. Findings also indicated that high expectations of performance may aid actual performance through promotion of essential attitude and motivation. Findings also showed a definite relationship between the CPA review course and reported expectations of the participants.

This article presents information on the attitudes of accounting educators towards the provisions of the AICFA code of ethics. Certified Public Accountants usually have received their first exposure to accounting ethics in accounting courses at colleges and universities. An educator's attitudes towards the provisions of the code may possibly influence his classroom presentation of the code. Consequently, the attitudes toward the code by professors who teach accounting ethics may influence the ethical behavior and attitudes of the practicing profession. Questionnaires were mailed to the accounting department chairmen of 14 universities that have undergraduate programs accredited by the American Association of Collegiate Schools of Business. These individuals were asked to respond to the questionnaire if they were involved with the course in which accounting ethics was taught; if they were not so involved, they were asked to give the questionnaire to the individual in charge of the course in which ethics was taught. Of the respondents 88% agreed that CPAs should not advertise and 89% agreed that CPAs should not attempt to obtain clients by solicitation. Most of the respondents appeared to feel that advertising and or solicitation were not functional.

In teaching the process and concepts related to the planning and control of operations, many different tools are discussed independently of each other. Due to the complexity of the planning process it is difficult to bring many of these tools together into a practical problem for the students to solve. Fortunately, with a computer the mechanical computations of the tools can be eliminated, and a practical problem can be developed for the students to solve. The project described in this note illustrates how model building, optimization, simulation, and decision rules for variance investigation can be used in the planning and control of the operations of a manufacturing firm. One of the major limitations of the project is the time a student has to wait for the output once he has submitted the budget cards. In the application described in this note most students could achieve only two runs a day. Eventually, this deficiency will be overcome when the PROFPLAN programs is adopted for use with cathode ray tubes. With this adaptation, once the student has developed his initial budget, he will be able to change the input variables and receive the results of the change almost instantly.

The article presents the hypothesis that, both the Market Parity and the Investment Value method adequately discriminate between those convertible bonds that ultimately will convert from those that will not convert. When applying the Market Parity method in this study, the ratio of conversion value to market value of the bond was developed for four dates. The shorter period of two weeks and the longer period of two months were chosen for this study to provide a time period long enough so that the value of the bonds could be determined in the market. The offering price for the bond was used to determine the market parity ratio at, offering dates. The relative ranking of a given bond changed somewhat when computing the market parity ratio as of different dates. The first test is concerned with determining whether this variability in ranking was significant. The authors remark that, when implementing the Investment Value method, it is necessary to determine what the market value of the convertible security would be if the conversion option were not present.