Abstract Accounting for no-par stock issues during the years 1930-1932, where changes have been made in the methods of stating capital stock valuations in those years, presents several most interesting contrasts with the period 1921-1929. During the past three years business conditions have been, for most corporations, just the reverse of the period prior to 1929, and these reversals in financial conditions are being rapidly reflected in the changing methods of accounting for no-par issues, capital surplus, earned surplus and related accounts, as of March 1933. In the period prior to 1929, the par-value security was rapidly giving way before the newer and so-called advantageous no-par security. Properties were being appraised, the added value was credited to some surplus or no-par stock account, and the sum total used as an excuse to make stock split-ups, carry stock values at the net worth without a differentiation between types or sources, and so on. Where in 1918-1929 corporation valuations went wild in one direction today undoubtedly they are going wild in the other.

Abstract Considerable attention has been given during the past decade to methods of valuing no-par stocks for the purpose of financial statements. Very little, however, has appeared as to actual methods in use and the reasons supporting them. To obtain reliable information on these points, an analysis of the methods of valuing no-par stock issues as shown on the balance sheets of nine hundred and fifty-six corporations has recently been made. These studies include practically all corporations whose no-par issues are listed on the exchanges, and a number of non-listed companies. Twelve hundred and thirteen no-par stock issues were included in the studies, of which 972 were common stocks and 241 preferred issues. The studies were divided roughly between utilities and industrials, 614 of the former and 599 of the latter. The conclusion drawn was that there are five basic method. of accounting for no-par issues, which are, in the order of their importance, paid-in or equivalent value, stated value, net worth at date of balance sheet, net worth at date of incorporation or of refinancing, liquidation value.

Reviews the book "Questions and Problems in Accounting," by R.A. Stevenson and R. Emmett Taylor.

Abstract Since the origin of fraternity life in the U.S. colleges and universities, the proper method of financial control has been one of the most vexing problems. Prior to the last decade little constructive work had been done in producing a satisfactory routine which would be both practicable and at the same time sufficiently simple for the training, or lack there of, which the average fraternity treasurer possessed. In the past ten years, however, more and more attention to the question has been paid by college officials, officials of national groups and by the personnel of groups themselves and this has resulted in several interesting developments. This trend may be accounted for in several ways, but probably follows the general interest which has become manifest due to federal regulations, higher costs and other factors. There are several factors peculiar to fraternal accounting control which are not to be found in most other types of organizations. The personnel of the college fraternity is a rapidly changing one. This means that the average treasurer no more than has time to become efficient as a business manager and bookkeeper when he passes on and the next victim takes his place.