Reviews the book "Principles and Practice of the Chinese Abacus," by Lau Chung Him.

Abstract The article focuses on the aspects of training for more effective accounting instruction. Every new staff person should have the opportunity of participating in a planned program of orientation to his work as an instructor. The American Accounting Association (AAA) sponsors a staff training project in about 4 or 5 institutions in the country, having a number of new accounting instructors each year. It would indicate to other professional and academic organizations that the AAA is interested in the quality and effectiveness of teaching staffs in the field of accounting. Some of the features of this experimental program are now being carried out at individual institutions. The mutual interchange of experiences and the subsequent publication of the results of the experiment would have a lasting impact on the entire accounting educational process. The success of this program would encourage more capable young people to become interested in potential careers in the teaching field.

Reviews the book "Advanced Accounting," by Charles H. Griffin, Thomas H. Williams and Glenn A. Welsch.

Abstract While there have been few spectacular happenings during the year 1950, steady progress is evident on all sides. There has been a substantial increase in the membership and the financial condition of the American Accounting Association continues to be satisfactory. The Association owns sufficient securities to enable it to survive a period of stress caused by war or other conditions. Nearly 500 members and guests attended the annual convention held at the University of Denver. This was one of the largest groups ever to attend a convention of the Association. The periodical "The Accounting Review," under the editorship of Frank P. Smith, has continued to serve instructors, students and practitioners with a series of significant and helpful articles, book reviews, solutions to Certified Public Accountant examination problems and news items of members of the Association. It has an impressive international reputation as a scholarly publication in the field of accounting. One of the greatest satisfactions received is from the splendid cooperation of committee members. Around one hundred and sixty members of the Association have contributed generously of their time in the conduct of its committee activities.

Abstract As a result of a recent discussion between members of the Executive Committee of the American Accounting Association and the Chairman of the Education Committee of the Institute of Internal Auditors in the United States, the editor to this department was asked to conduct a limited survey in order to determine the present status of the course in internal auditing. The Institute of Internal Auditors has been active in the field of education for several years, and its several committees wish to cooperate in every way possible to further tile adequate preparation of students for careers in internal auditing. Some case and text materials have already been prepared, these teaching aids are rapidly being augmented as more universities become interested in the subject matter. In carrying out the survey 36 questionnaires were sent to specific persons in the same number of selected institutions. Most of the prominent schools of commerce and business administration were included in the group and thirty replies were received.

Abstract This brief survey will serve to indicate that cost accounting is not a newly developed off- spring from its parent, the accounting process, but rather has been going through its "growing pains" for many decades. In view of its long and interesting evolution, the Committee feels that cost accounting now occupies such a prominent place in the business community that it is opportune and highly desirable for its principles and concepts to be stated in tentative form. Or, to express it differently, the Committee believes that cost accounting has now "grown up" sufficiently to warrant the serious attention which the Committee has given to its area and purposes. The present paper, therefore, will attempt to set the stage for those to follow, and show that many of the cost accounting developments which are often considered to be modern have their genesis in many past decades. It should be emphasized, however, that only the highlights of this evolutionary aspect of cost accounting can be presented in the brief time available. Elaboration on these highlights must be postponed to some future time.

Abstract The method used for calculating price and quantity variances in standard cost procedure deserves more explanation than is given it in cost accounting textbooks and current accounting literature, as of July 1947. The student in a standard-cost accounting course is likely to be perplexed by the glibness of the instructor in arriving at the amount of variation attributable to price on one hand and quantity on the other. The formula used in commercial practice demands a reasonable explanation since it is mathematically questionable. The purpose of this article is to justify the current practice, and to point out the theoretical issues that are involved. Some accountants, aware of the mathematical biases in calculating price and quantity variations, compute only the total amount of variation, and do not attempt to calculate the amounts of the individual variations attributable to price and quantity. But if the amounts of the individual variations are sufficiently significant to require administrative attention, this expedient will not, of course, prove satisfactory.

Abstract Beginning instructors are usually assigned to the elementary course in order to obtain their experience. The large volume of students is also found at this level. The intermediate course presents a somewhat similar problem, although it is less acute. Generally, the courses above the intermediate level are in the hands of experienced instructors. The writer believes that all the ability and skills an instructor can command are required at the first level. If the student fails to learn the fundamentals well, difficulties in more advanced courses may be due to the structural weakness of the introductory background rather than to the advanced course per se. The problems of the beginning instructor are increased not only by the range of interest and ability to grasp the subject but also by sheer numbers. In advanced courses, however, there is the advantage of selection. The suggestions offered here are primarily to help the beginner. They are not intended to be complete. Also they are confined to the elementary course, although they may be applied also to the more advanced classes.

Abstract The article presents information about the industrial accounting courses that are being conducted in the U.S. as a part of the Engineering, Science, and Management Defense Training Program (better known as ESMDT). The U.S. Congress inaugurated this program in July 1941. It may be observed that the ESMDT program is in reality just an expansion of the university extension adult education programs, which have been set up by many institutions in the years past. The program involves a definite innovation, however, in that the Federal government hitherto has limited its financial assistance to vocational level courses. Several educational authorities have expressed certain misgivings as to the implications underlying this move. It is felt by some that the ESMDT represents a type of Federally sponsored higher education which may have permanent and wide repercussions even after the present war is over. Little attention has been given to this important matter up to the present time, as the national and local administrators have been too busy with problems involved in setting up the institutional programs to deal adequately with the long-term aspects of this type of adult education. As the program gains headway over the next few months, more thought will naturally have to be devoted to the relative permanency of the organization, and also to its coordination with the now existing extension activities of the universities and colleges of the country.

Abstract The study of cost accounting has come to occupy a significant place in schools or departments of commerce. Many instructors feel that it should be part of the preparation of students who have no particular fields of business specialization. No longer is it looked upon as a subject for accounting majors only; the contents of the course should, therefore, be adapted to the needs of both the accounting major and the general business student. It would be interesting to know if graduates, who had studied cost accounting, and later became associated with various fields of business, would agree with the opinions of cost instructors on course content. It is possible that their views might differ, at least in some instances, from those of their teachers.