Abstract The article discusses a university accountant trainee program. There are three major aspects in the development of a person as an accountant--education, training and experience. For classroom work is designed to provide the first of these three. Many colleges and universities have looked for alternatives to the internship program since they have neither compatible academic schedules nor a sufficient number of conveniently-located intern sponsors to allow the operation of an internship program. One such alternative is a university accountant trainee program. Under such a program the university and the department of accounting of the school of business work together to select undergraduate accounting majors to work part-time in professional accounting jobs in the central business administration. Students selected for the program would typically begin their employment at the start of their junior year, having completed three accounting courses. These students would work approximately fifteen hours per week during their junior and senior years and forty hours per week during the summer between their junior and senior years.

Abstract This article presents information on evaluating alternative methods of accounting for long-term nonsubsidiary holdings of common stock. Long-term investments by one corporation (investor) in the common stock of another corporation (investee) can be classified in one of two basic categories according to the percentage of the common stock of the investee corporation held by the investor corporation. Holdings of more than 50 percent are classified as subsidiary holdings while holdings of 50 percent or less are classified as nonsubsidiary holdings. Under the cost method, "periodic investor income" consists of dividends received by the investor which are distributed from the investor's proportionate share of undistributed investee earnings accumulated since the acquisition of the investment. The book value of the investment on the investor's books, hereafter referred to as "investment carrying value," is periodically reduced by any dividends received in which distributions in excess of investee earnings since acquisition of the investment. Such dividends are referred to in this paper as "excess dividends." Finally, Opinion 18 states that a senes of operating losses of an investee or other factors may indicate that a decrease in value of the investment has occurred which is other than temporary and should accordingly be recognized.