The article presents a study of several business schools offering master's degree in business in the U.S. The Master's degree is sometimes considered as terminal and sometimes as a foundation step toward the doctoral degree. The two objectives are usually well harmonized and actually there need not be too much difference between the requirements. For a long time, it has been recognized that many students of superior ability need financial assistance in order to go to college, and this is particularly true if they continue on beyond the first degree. In general, the schools have been holding scholarships for tuition, fellowships for larger amounts including room and board, assistantships with a little greater flexibility, teaching assistantships, teaching associateships and instructorships for top amounts. Since loans have to be paid back, often with interest, the student is reluctant to take a loan if he can secure the means some other way. The survey shows that as compared with seven years ago, the non-service type of grant is gaining and the requests for loan funds decreasing.

Cost accounting as such is of comparatively recent origin. Cost concepts are intermingled with expense in general, with value concepts, with economic theory, with legal decisions and statutory expression and with war emergency directives to the extent that basic cost accounting, if such there be, becomes increasingly difficult to untangle from the confused, related, but not identical strands. Costs chargeable to purchases of materials should include invoice costs plus incoming transportation, insurance, customs taxes and duties, and similar direct charges, in so far as they can be identified with the material. If they cannot be so directly identified, there is no point to forced artificial identification and they should be listed with other unidentifiable costs as part of the overhead. Returns and allowances and trade discounts are proper deductions about which there is not so much controversy. Purchases discounts should be deducted in entirety, or on all amounts above a reasonable percentage for prompt payment, say one per cent, or not deducted at all.

The problem of labor turnover remains unsolved. This problem is not a new one, but over the year. has taken on varied aspects and has attained a significance which now calls for universal serious attention. The scope of the problem places it beyond the limits of comprehensive treatment in a single paper or by one individual. Of world-wide, international application, it knows no political boundaries, nor territorial prohibitions. Labor turnover is not only an industrial problem, it is a vast social problem. With some what cyclical regularity, it assumes the nature of an epidemic, under the diagnosed name of unemployment. For a single company, labor turnover has not been considered as fatal, but the effects upon business of the malady in virulent form and epidemic proportions, are paralysis or death. In 1921, consequences were serious enough to warrant coordinated and determined effort. Instead of that, only here and there was any constructive work done. No real lesson was learned. In 1929 and 1980, business suffered losses which justify the expenditure of a large sum to prevent the recurrence of such a situation or at least to insure distinct progress in that direction.

The article focuses on the problem of curriculum construction, which has been constantly with the education system in the U.S. ever since educators many years ago felt the necessity of formulating a definite program. The problem is pressing and stupendous right now because of certain changes in the industrial and social fabric. After close contact with a score or more of the leaders in commercial work both in the secondary and in the college divisions, one approaches the intricate subject with due humility. Certain factors well known to all have created a situation calling for new diagnosis. Among the more evident changes are, industrial progress; progress in distribution whereby place utilities are created; the perfecting of distinct functions such as financing, purchasing, storing, personnel; changes In social life; great increase in school enrollments; changes in the philosophy and doctrines of education and in their application. In the development of curricula over a period of time, subjects do not maintain a stable position but shift up or down. As these courses have moved downward, they either remained unchanged in scope of content or expanded.

Reviews the book "Analyzing Financial Statements," by Stephen Gilman.