Abstract The article focuses on test for principles. The word principles has been extensively used by both accounting practitioners and academic writers with little discrimination in the context between the truths of accountancy and the practices of accountants. In a treatise for educational use, inclusiveness may be necessary so that accounting will be presented as a whole. But the student cannot be well trained in clear thinking unless the elements out of which the subject matter is constructed are clearly distinguished one from another. There is a growing movement, in the interest of clear thinking and orderly practice, toward the formulation of concise propositions regarding accounting. Each of these aspects is complementary to the other, and both need to be held in mind for true comprehension. But it is a task of some moment to classify numerous propositions as either rules or principles, for none of them can be both. To do so one needs more than dictionary definitions. A test by which to recognize a proposition as a statement of accounting principle is needed. Those propositions which do not meet the test may be useful statements of accounting rules.

Abstract The Executive Committee of the American Accounting Association has presented a tentative statement of principles, which deals with these questionable points. Everything that appears in this list could be definitely disposed of by every accountant if those principles, or rules, or standards, or conventions, or whatever you want to call them, were universally observed. But, if the universal observance of those particular rules and conventions and standards is not most desirable, then it behaves the accounting profession and those who are teachers and research workers in this field to decide what rules should apply. If qualifications and exceptions are necessary in connection with them, then the problem is to state them. It is a difficult, complicated task, but it is not impossible. Only our diffidence, our preoccupation with other matters, a certain degree of inertia in tackling these things, prevents our getting this job done in some satisfactory fashion. in some satisfactory fashion.

Abstract Almost four years have passed since the enactment of the Securities Exchange Act of 1934, creating the U.S. Securities and Exchange Commission and transferring the administration of the Securities Act of 1933 from the Federal Trade Commission. Both Acts, viewed as a framework of regulation, implicitly assume the validity of traditional economic premises of securities distribution and trading, and the usefulness of the forms and mechanisms which had been developed to accommodate securities transactions. The legislation did not seek to fashion new instruments of investment procedure nor the alteration of basic concepts of the function of the investment banking process in the national economy. The process was to be invigorated and fortified by dissemination of information relating to the merchandise circulating in the markets. Administrative responsibility under the statutes is phrased in terms of protection of investors, and administrative authority, broadly speaking, is phrased in terms of disclosure.

Abstract The 1937 committee on education of the American Accounting Association undertook the task of developing the details of a program providing 60 hours of technical training for the profession of accountancy. It was intended to correlate this program as nearly as possible with the report of the committee on education of the American Institute of Accountants (AIA). Recognizing the desirability of a flexible program which might be suitable for the various types and conditions of educational institutions, the report of the committee incorporates three separate and distinct programs which should be considered together as one general program with boundary limits established. These are designated as the recommended program, the minimum program and the maximum program. In this connection the terms minimum and maximum are used to indicate the amount of concentration in business and accounting subjects. The report of the committee thus covers a rather broad band of concentration varying from 33 hours to 87 hours out of a total of 120 hours usually required for graduation. The recommended program, in conformity with the report of the AIA committee on education, provides exactly 60 hours of business and accounting concentration.

I. Use of index numbers by Commissions, 105.— II. Advantages of the method, 107.— III. Suggested method of constructing such indexes, 108.— Legal requirements which must be met, 111.— Practical difficulties, 112.— Indexes must be supplemented, 114.— IV. Prospect of acceptance by the Courts, 115.

Pareto on the compound-interest principle, 641.— Increase of the foreign trade of the United States analyzed, 643.— The per capita figures, 647.— Increase of bank clearings, mining output, and manufacturing output, 649.—Increase of per capita expenditures of the federal government, 651.— Devaluation of the dollar, 652.— Increase of the national debt, 653.—Comparison with growth of foreign trade, 655.— Conclusion, 657.

Journal Article The Divisibility of Time Series Get access Elmer C. Bratt Elmer C. Bratt Bethlehem, Pennsylvania Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 5, Issue 2, February 1938, Pages 79–92, https://doi.org/10.2307/2967522 Published: 01 February 1938