Abstract This article is a discussion which is a continuation of the article entitled, Working Paper for Preparation of Cash-Flow Statement, published in the January 1963 issue of the journal, the Accounting Review. The same comparative data, operating detail, and supplementary data has been used for illustrative purposes. In addition, the funds statement and cash-flow statement will be compared to show the relationships between the components of the two statements. The funds statement, known by other titles such as the source and application of funds statement and statement of application of funds, as conventionally prepared, is an analysis of working capital. It is generally accompanied by a schedule of the items making up the working capital, which by definition is the difference between current assets and current liabilities. Current assets and current liabilities are regarded as the funds, that is, working capital, and it is the purpose of the funds statement to describe the causes for the total change in the working capital for the reporting period such as a month, a year, and so on.

Abstract The Federal Government Accountants Association (FGAA) needs no introduction to many accountants and auditors. However, since the FGAA has "come of age," it is believed that a few words about its organization, aims, and accomplishments would be timely. The FGAA is a non-profit, professional, and educational organization, incorporated in the District of Columbia, with 34 local chapters located in most major cities in the U.S. There are also four chapters abroad, in Frankfurt, Germany; Tokyo, Japan; Pans, France; and Balboa, Canal Zone. It is an organization of Federal administrative or policy advisory employees with accounting and auditing backgrounds. The Association has several purposes. It aids in the improvement of budgeting, accounting, reporting, and auditing techniques by providing a medium for the free interchange of ideas among accountants and financial management personnel in the Federal service. The complex nature of Governmental affairs creates the need for an Association of this caliber.

Abstract Reviews the book "Fund Accounting: Theory and Practice," by Edward S. Lynn and Robert J. Freeman.

Reviews the book "Organizations in Action," by James E. Thompson.

Abstract The accountant's main task consists of the periodic determination of the revenue, costs, income and financial status of the business enterprise. In this connection, accounting has been defined as the art of recording, classifying, summarizing and interpreting. The statement accounting for variation in net profit is usually one of the rough spots encountered in intermediate accounting and the particular difficulty lies in the analysis of the factors causing the change in gross profit. Members of the Committee on Visual Aids are currently available to render assistance, upon request, to individual teachers of accounting. Highly effective use of visual aids has been made particularly in such courses of the accounting curriculum as cost accounting, auditing, elementary and advanced accounting theory, accounting reports, the analysis of financial statements and Certified Public Accountant problem review. Teachers of accounting are urged to call upon the membership of tile Committee on Visual Aids for any assistance desired in connection with attempts to develop visual aids applications or in resolving problems encountered.