Reviews the book "Overhead Expense," by A. Hamilton Church

Reviews the book "Income Tax Accounting," by J.F. Sherwood.

Reviews the book "Credit and Its Uses," by William A. Prendergast and William H. Steiner.

Abstract To budget machinery raises many difficult problems. The first problem is to determine the period which the budget should cover. In budgeting the sales and production of a business, the fiscal period, usually a year, is the basis followed. A monthly detailed budget supplements the annual budget. There are several reasons for using the year as the basis for budgeting sales. First, it is the period covered by the profit and loss statement. Second, the year is a comprehensive enough period to include all the seasonal changes, and thus the relation between seasons may be determined. Third, the yearly budget provides a basis by which comparisons of similar periods in different years, or full years may be fairly made. These reason also hold good for the budgeting of production on a yearly basis, productivity depending on the same seasons fluctuation as do sales. In budgeting machinery, however, the fiscal year may not be the logical period. There is no relation between the fiscal year and machinery production.

Abstract The student who understands the purpose of a course and who sees how the course will meet his needs has gone far in preparing himself for the study of that course. It is pertinent, therefore, to ask what benefits may be expected from a study of accounting which will justify the necessary expenditure of time. If it be true that the purpose of education is to fit one for living, how does the study of accounting aid in the realization of this aim? Whether one wishes it or not, most students are compelled to spend a large portion of the available time in providing for the necessities of life. The vocational value of bookkeeping and accounting is accepted without question a it is recognized everywhere that efficiency in the use of such knowledge is of direct value to employers. Accounting, however, does more than equip one to hold a mere routine job. Simple record making often leads to more important positions for those who can see beyond boundaries of their first job and who can make use of their experience and opportunities. Accounting provides the background for advancement as it enables one to see how his work fits into the work of other departments. It is not necessary to be a bookkeeper or a public accountant in order to make use of training in accountancy. The subject furnishes one method of learning about the industrial organization of present society.