Journal Article A Note on the Consumption Function Get access K. E. Boulding K. E. Boulding Edinburgh Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 2, Issue 2, February 1935, Pages 99–103, https://doi.org/10.2307/2967556 Published: 01 February 1935

Introduction, 475. — The unit of organization, 476. — The net revenue concept, 476. — The net revenue series, 477. — Three propositions, 478. — The internal rate of return, 480. — The enterprise and the entrepreneur: simple conditions, 483. — Complications, 492. — Conclusion, 493.

Reviews the book "Experiments in Credit Control: The Federal Reserve System," by Caroline Whitney.

Reviews the book "The International Money Markets," by John T. Madden and Marcus Nadler.

In the teaching of accounting systems one finds that it is often difficult for the student to see the practical application of the accounting theories discussed in the classroom. No doubt this is due largely to the lack of practical experience on the part of the student. Some schools overcome this handicap by arranging for part time work in the accounting departments of local business concerns. Other schools find this arrangement impossible, due to the scarcity of such business concerns or the general policies of the college or university. This lack of experience may be at least partially overcome by means of the written report, which may be used to supplement the course in accounting systems. In this report the undergraduate may select a business concern either in the college community or elsewhere, usually near his own home, and make a first hand study of the accounting system of that business. The outline is given to the student early in the semester and soon afterwards he is asked to name the kind of business in which he is interested and on which he would like to make a report.

In this article the author proposes a system for teaching elementary accounting. Because it might be contended that this paper is attempting to make a virtue out of necessity or rationalizing that which had to be, according to the author, the system of teaching accounting at Miami University, Ohio was inaugurated before restrictive legislative appropriations might have forced the same system on accountants. Furthermore, because of the latter factor, it may be that what accountants are doing is not now as unique as it might have been some years before. According to the author, laboring under a delusion in believing there is or ever was anything unique in methods. All students take the same course regardless of whether they are accounting majors, business students interested in other majors, or students in other divisions of the University taking the course for various reasons.

Definition in its popular sense is the process of delimiting a concept or thing with the object of establishing that usage for a word or phrase, which has significance common to all persons. Definition is also popularly understood to be the expression through which the limits of the concept or thing are set up. Without definition, or with more than a single definition in common use, situations frequently arise where no exact medium of communication exists. Probably every person has had the experience of participating in protracted disputatious only to discover in the end that he and his opponent had been talking different languages. Within the realm of logic, definition has as its purpose the determination of the qualities of universals. Hence it may be said that the necessity of a common language and the necessity of building up an adequate background for the introduction of logical principles place upon one as accountants the burden of exploring thoroughly the requirements of good definition.

Reviews the book "A Test of the Consumer Jury Method of Ranking Advertisements," by Neil H. Borden and Osgood S. Lovekin.

Reviews the book "Accounting in the Zenon Papyri," by Elizabeth Grier.

Reviews the book "Federal and State Control of Banking," by Thomas J. Anderson.