I. The Qualitative vs. the Quantitative Schools of Credit Control, 600. — II. Subgroupings among Exponents of Quantitative Methods, 602. — III. Snyder's Methods, 603. — IV. History of Price Movements, 604. — V. Consequences of Non-War Price Displacements, 606. — VI. Fluctuations in Prices vs. Fluctuations in the Physical Volume of Trade, 606. — VII. Measurement of the Factors of the Equation of Exchange, 609. — VIII. Consequences of Fluctuations in the Ratio of Credit to Trade, 611. — IX. Sub-Normal and Abnormally High Rates of Growth in the Volume of Credit, 613. — X. Does Credit Control Trade? 615.—XI. Snyder's Theory and the 1929 Crash, 616. — XII. Snyder's Theory and the Present Depression, 618. — XIII. Necessity of Frequent Tests of the Credit Situation, 619.

Journal Article National Income, 1929–32 Get access W. L. Crum W. L. Crum Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 49, Issue 3, May 1935, Pages 508–517, https://doi.org/10.2307/1883867 Published: 01 May 1935

The Federal income tax chart for 1936 has been devised as an aid in visualizing the effect of the rates of income and excess-profits tax applicable to corporations for fiscal periods ending after November 20, 1936. A new declared value for capital stock and surplus is to be made as at June 30, 1936 and because the rates of excess-profits tax have been increased from 5 percent to 6 percent, the minimum amount at which such value should be declared warrants careful study. Each $1,000 of declared value will be taxed at $1.40, a failure to declare the necessary minimum means an excess-profits tax at $6 or $152 for each $11 ,000 deficiency of declared value. The chart defines the various brackets in which the possible combinations of income and adjusted declared value will fall. In each bracket appears a formula from which the computation of the total tax may be made. Vertical lines represent adjusted declared values in thousands of dollars, the ratios of net income to adjusted declared values.

Accounting and teachers of accounting have been observing with considerable interest the steady development of business budgeting, especially during the past fifteen years. To many accountants this procedure seemed to be a misuse of accounting data and any such professed forecasting of business operations appeared to be unreliable, if not altogether impossible. As time went on, however, budgeting was thoroughly tried out and tested by management. Many experiments were made. Budgetary methods were studied. Cost accountants were open-minded and contributed generously to the development of its technique and procedures. Executives and financial accountants also tried their hand at the preparation of budgetary estimates. Cost accountants, like financial accountants, aim to interpret their own records. Cost accountants are now performing an increasingly large amount of the interpretation function of accounting, for the purpose of giving management promptly informational data on current operations. Standard costs and standardized revenues cannot be ascertained without interpreting fully the accounting records of past and present performance.

In this article the author discusses various methods of teaching cost accounting to accountancy students. It is apparent that the instructor may have either of two points of view in teaching accounting. The subject may be considered primarily as a skill, a technique, or a method of recording and summarizing the facts of business transactions. With such an aim, emphasis will be placed upon the accounting processes and much time will be spent on accounting procedure. On the other hand, accounting may very well serve the useful purpose of providing a method for teaching business processes. Cost Accounting is a very specialized, detailed technique and is concerned with bringing an intelligent order out of a mass of details. But, it may be more than that for the college student, for it is in the field of costs that accounting touches so closely that division of economics, production, and most easily understood by him. According to the author, if a study of cost accounting throws new light upon economic values, then, one may believe, the student has acquired a deeper insight into the social structure; has been given a useful key to other values.