Abstract The article presents information on some problems of labor union auditing. Organized labor has traditionally regarded criticism of its financial machinery as an attempt on the part of employer groups to weaken its influence and bargaining power. The unions believe that much of the criticism has not been of a constructive nature and has emanated from those whose economic interests were, prior to the present war emergency and the resultant cooperation between labor and management, opposed to their own. Along with this has gone a hesitancy to engage independent auditors who, because their work is closely connected with business enterprises, have been associated in the thinking of labor union members with employers who may have done everything in their power to discourage or destroy organization among their employees. Many unions that engage independent public accountants require that audits be made monthly. In some cases the audits are made by a board of trustees selected by the union membership at regular elections or by special auditing committees elected each time an audit is required.

Scope of the paper: effects of a non-progressive balanced increase in the budget, 78. — The mechanics, 79. — Qualifications: character of government output, 82; competition with private enterprise, 83; effect upon the propensity to consume, 83; further effects of taxation, 85. — Comparison of income-generating measures, 88.

I. Conditions under which taxation is income creating, 265. — Influence of expenditures, 268. — II. Under-employment equilibrium with consumption 100 per cent of income, 269. — III. Under-employment equilibrium with net investment and the average propensity to consume less than 100 per cent, 275. — IV. Full employment and a sudden closing of investment outlets, 280. — V. Application of the foregoing analysis in a practical program, 285. — Effectiveness of the income tax as an instrument of policy, 286.

Abstract Reviews two books on trade. "Quantitative Trade Controls: Their Causes and Nature," by Gottfried Haberler and Martin Hill; "Trade Relations Between Free-Market and Controlled Economies," by Jacob Viner.

Abstract The usefulness to teachers of results of aptitude tests given to their students may easily prove greater than might at first be expected. If a school must limit its enrollment, objective measurements of learning capacity would be a helpful addition to the evidence afforded by previous classroom grades. There are several reasons for thinking that teachers of accounting and colleges of commerce generally should be glad to cooperate in this experiment wherever it is feasible to do so. If the accountant needs a certain type of ability, but little or no mathematical knowledge, it is an open question whether the study of mathematics is the best way to attain that ability. If some other approach will develop the desired ability and at the same time give the student certain knowledge that will also be directly useful in his future work, it is clearly an advantage to follow this course, even if to do so means foregoing the discipline which is part of the study of mathematics.

Abstract Reviews the book "Square Pegs in Square Holes," by Margaret E. Broadley.

Abstract It is not unusual for accounting teachers to stress knowledge as an important aspect of preparation for a career in professional accounting. And it is perhaps understandable that sometimes they may not show full appreciation of the existence of other factors besides technical competence. Accounting practitioners, on the other hand, often emphasize the fact that qualities other than technical competence contribute greatly to successful professional service. Perhaps they sometimes give the impression that personal factors are more important than technical preparation. In one occupation rating scale constructed from data supplied by twenty industrial and vocational psychologists, occupations of university professor, oculist, civil engineer, journalist are classified in the first category of high abstract intelligence. But no mention is made there of the certified public accountant (CPA) or his counterpart in industry, the controller. It is not necessary to assert that a CPA is the intellectual equal of an oculist, a journalist, an engineer, or a professor, in order to point out that there may be a real question here concerning the adequacy of sampling which omits an important occupation.

Abstract The article discusses the social significance of accounting and the public-interest aspect of public accounting. The author views the concept of accounting as a factor in social control. Too few men come from college with any appreciation of the relation between the accounting principles and practices which they have studied and the social consequences that may result from their application. Regulatory bodies in recent years have taken it upon themselves to determine accounting principles and practices in many cases in order to promulgate their regulatory objectives without making their social consequences clear. The question can be fairly raised as to whether the profession and the teachers have made the contribution that should be made in relating accounting policies in use to such consequences. Any consideration as to the soundness of a particular accounting policy is sterile which does not embrace the possible social consequences thereof. The theory apparently underlying the typical program in business or accounting reflects a belief that education for living and education for working can be successfully integrated throughout the four years leading to a bachelor's degree, or the five years to a master's degree. This expresses the idea that working is a part of living and living involves working.

Abstract In three recent issues of the periodical "Accounting Reviews" dated October, 1943, January and July, 1944, representative educational programs of accounting majors have been printed for sixty colleges in the U.S. and for two in Canada. It is the purpose of this article to analyse the data thus collected. The first analysis, will deal with the quantitative aspects of the programs. This will classify the courses according to the usual departments of instruction and thus indicate the fields of education which receive particular attention in most programs in the sample. A subsequent analysis will deal with course names in order to derive further indications of the educational pattern of college students who major in accounting. Public accountants and others who give employment to college graduates with a major in accounting may find these representative programs helpful. They are individual programs, each representing the work of an actual student who was graduated from the school named. They can be studied individually as one deals in the office with one man at a time.