Abstract The article discusses the profile of CPA candidates. It is important, for the accounting profession to evaluate periodically the characteristics of its recruits to determine if those who seek to enter its ranks are equipped with the attributes necessary to deal effectively with the increasingly complex problems of the profession. The public accounting profession has a common bridge over which all those seeking to enter its ranks must cross-the Uniform CPA Examination. Thus by examining the characteristics of CPA candidates, a profile can be drawn of the traits both of those who are seeking entrance into the profession of public accounting and those who are successful in doing so. Approximately one-half of the candidates writing the examination for the first time are under twenty-five years of age and are attending college or have been out of college for less than one year. If they have graduated from college, they likely are employed in public accounting with a CPA firm. The amount of formal course work in quantitative methods studied by CPA candidates is increasing. Experience does not contribute to the success of candidates on the CPA examination. Candidates should be encouraged to take the examination as near the time as they complete their course work in accounting as possible.

Abstract The article discusses the practical implications of accounting knowledge. Accounting is not a static field; on the contrary, it is continually evolving in reflection of underlying changes in the dynamic economy. Yet accounting textbooks too often are reluctant to introduce change once a subject becomes part of the "accepted body of knowledge." Much of the information contained in current accounting textbooks bears no relationship to current accounting – thought or practice. Advanced textbooks all introduce bankruptcy procedures by way of a discussion of a Statement of Affairs, which purportedly is used to disclose the financial condition of an insolvent business. Practitioners should make some effort to audit theft academic brethren. All new textbooks should be reviewed by one competent to appraise the validity of the text material. Clear misstatements of fact should be brought to the attention of the author. In this regard, authors must make a more complete effort to insure the authenticity or relevance of the material CPA Examination question and described in most texts misrepresents fact.

Abstract The article discusses the significance of introducing important tax provisions into advanced accounting. Many accounting courses could be improved significantly by the brief introduction of related tax considerations, preferably in a non-technical fashion. This is particularly true in the case of advanced accounting courses wherein consolidated financial reporting for multi-entity organizations is usually given considerable attention. Decisions regarding the form of corporate and tax reporting for multi-entity organizations are highly tax-influenced. Tax planning is the art of determining in advance what tax liability will result and then conducting transactions with a view toward reducing the income tax burden. In the area of multiple corporations' a group has a choice of accomplishing the same results by more than one method-one of which may result in a lower tax liability. In order to minimize the tax burden, however, management must understand the interrelationship between business operations and the tax liability. A chart was first developed as a testing device for an advanced accounting course. Since students performed so poorly on the question it was later utilized successfully as a teaching aid-originally in an advanced course and subsequently in a tax course.

Abstract The article discusses the investigation of accounting records. During an investigation of business records preserved in the manuscript section of the Baker Library at Harvard University Graduate School of Business, an early 19th century accounting primer was discovered. Various bookkeeping records and accounting procedures of mercantile companies operating during that period are outlined in the text. The book proved intrinsically interesting and also afforded the writer a useful guide to record keeping methods of early merchants. The purposes of this article are to describe the contents of the primer, to comment upon certain recording procedures of the early 1800's and to gain some insight into accounting methodology in the United States during this period. The value of the primer described in this paper is two-fold. First, the book is a valuable example of accounting instruction in the United States during the early 1800's. As such, it deserves recognition and preservation as an example of the evolution of accounting education and practice in the U.S. Second; students of business history would find the primer a useful preliminary study prior to examination of records of 19th century American businesses.