Reviews the book "Modern Research for Administrative Decisions," by Louis Hough.

This article focuses on a study which developed a method for systematic investigation of accounting information systems as a major area of human activity. Accounting has reached a stage where the rate of progress in research and development of information systems will depend in part upon the degree to which we can develop a framework for the classification and analysis of methods of recording, processing, reporting, and using data. It is not usual for all parts of a field to be developed at an even pace. In the case of accounting systems, for example, some methods, such as those for the design of original evidences, are highly developed. Accounting information is defined to include all of the quantitative and qualitative information concerning economic values that is processed and reported by accounting information systems in external financial statements and internal operating plans and reports.

The article examines existing methods of coding accounting principles, suggests a uniform code that would identify the principles clearly, and organizes the coded principles in a way as to aid further research. The organization Accounting Principles Board (APB), in June 1963, approved the preparation of an inventory of generally accepted accounting principles which is useful in the present-day accounting activity. APB's inventory, Accounting Research Study No. 7, accounts for sales, revenues, income, cost of sales, expenses, gains and losses in such manner as to present fairly the results of operations for the period or periods of time covered. Sales, revenues and income should not be anticipated or materially overstated or understated. Accordingly, there must be proper cutoff accounting at beginning and end of the period or periods. The coding of conditions, concepts or postulates, principles, and practices of accounting should make it easier to improve the definitions, logical patterns, of accounting theory, and should provide a base for reference to specific ideas in articles, books, etc. by accounting theorists and committees.

Reviews the book "Computer Models of the Shoe, Leather, Hide Sequence," by Kalman J. Cohen.

This article focuses on accounting theory and research in management accounting. Commercial and governmental operations are constantly increasing in size, in complexity, and in the number of people affected. It has become essential that simplifying techniques be developed so that human intelligence can plan and control them. Accounting is basically a method of measurement and communication. The importance of both techniques has increased considerably in recent years. Measurement has reached a stature in science such that some believe that unless a process can be measured the study of it can hardly be called scientific. Accounting activities have increased for the most part because the need for records of transactions has become so great, not because of new techniques or research ideas. Soviet Union, for example, in spite of relatively limited interest in accounting theory, has more bookkeepers than the United States. The area that accounting theory usually has emphasized is only a part of the field of the measurement and use of economic values. There are many other aspects of measurement in business and government, such as population counts and the volume of physical trade.

Reviews the book "Automation in Business and Industry," by Eugene M. Grabbe.

Reviews the book "Administering a Conversion to Electronic Accounting," by Harlord F. Craig.

Reviews the book "Proceeding of the First Conference on Training Personnel for the Computing Machine Field," by Arvid W. Jacobson.

The purpose of national income compilations has been discussed many times, but as yet there has been no definitive survey of the actual uses to which the data are currently being put. It may be that the time has come for those who calculate national income and gross national product to extend their objectives further. The need has developed for an objective, factual report of the position and the progress of national economy. The present form of reporting national income does not adequately meet either of these requirements. The present "account" form of reporting national income, although frequently employed in the construction of business balance sheets, is virtually never used by business or other groups for income statements, and so is completely alien to the experience of the public. The system used for the development of basic data, with its theoretical framework of "factors of production" and "final products," its subordination to economic sectors, and the absence of what may be called "journal entries," is also completely alien to the experience of the public.

The article focuses on the presentation of the investments in corporate annual reports. There is lack of uniformity which makes it difficult for the reader to interpret the figures, descriptions are usually too limited, and the results of investment operations are almost always buried with other items on the income statements. As a result the reader is unable to judge the ability of management insofar as the investing of funds is concerned. All holdings in subsidiary companies are investments. With this interpretation the investment account would certainly be by far the most important item in many corporate reports. There are several logical reasons for avoiding this treatment and preferring the use of consolidated statements. But even after eliminating all controlled subsidiaries the investment account is still of major importance in most financial statements. Whether the amount involved is large or small, there is a fundamental reason why the investment account deserves special treatment.