Abstract This article is a report from president Robert N. Anthony of the American Accounting Association (AAA), focusing on the activities and achievements of the AAA in the year 1973-74. The association has embarked on a number of continuing education programs, the largest of which is a program to be conducted at approximately 10 universities and designed for teachers of first-year accounting courses, especially in junior and community colleges. A book, "Accounting Education: Problems and Prospects," containing papers by 65 members, has been completed. Its general editor is James Don Edwards. Financed by a grant from the Price Waterhouse Foundation, a broad study of the accounting curriculum beyond the first course has been started. The AAA and the American Institute of CPAs are cooperating in programs aimed at providing financial support for the education of black and other minority accounting faculty members and in aiding accounting instruction in black and other minority schools. Substantial financial support from the U.S. Department of Health, Education and Welfare for these programs is being sought.

Abstract In this article the author discusses the cost concept for control process. He explains the background of deliberations that led to the adoption of the framework. He mentions the examination of various types of cost constructions used for control purposes and the contents of control process. He explains the three groups of control concepts which are, communication of information about approved plans, motivation of people and the reporting of performance. Explaining the concept of communication, he mentions that approved budget is the end result of a planning process and a communication device which tells each unit of an organization about what the management expects it to do during the budget period. He illustrates costs as a motivating device with an example and the possibilities and implications involved in each possibility of the concept. He mentions briefly the points which focus on the limitations of cost as a motivating device. He explains cost as a basis for reporting and appraising as a paradox with concepts relevant to the area.

Abstract A foreword to the October 1975 issue of "Accounting Review" is presented.

Reviews the book "Cases in Cost Accounting," by Clarence L. Van Sickle.

Reviews the book "Program Budgeting and Benefit-Cost Analysis: Cases, Text and Readings," by Harley H. Hinrichs and Grame M. Taylor.

Reviews the book "Inventory of Generally Accepted Accounting Principles for Business Enterprises," by Paul Grady.

In economics, the word interest refers to the cost of using capital. The definition of interest in financial accounting differs from its economics definition in two fundamental respects. First, in financial accounting, interest refers only to the charge for using debt capital; accountants do not record a charge for the use of equity capital. Second, in financial accounting, interest is not ordinarily treated as an element of cost in the sense that labour and material are so treated; rather, interest on debt capital is regarded as an expense that is deducted in full from the revenues of the period in which the interest is incurred.

Abstract The article presents information on recommendations made by the 1964 American Accounting Association Committee on Doctoral Programs. The committee was charged to investigate and to make appropriate recommendations concerning doctoral programs with a concentration in accounting. The primary role of doctoral programs in accounting at the present time is to prepare the student for university teaching of accounting. There are indications that the future may place increasing demands upon such doctoral programs to prepare students for a research career in public or industrial accounting. The increasing number applying for entrance to doctoral programs each year makes it possible for universities to exercise greater selectivity in the choice of students. The courses in accounting should cover thoroughly the areas of financial accounting, management accounting and the analytical uses of accounting data. Doctoral courses should be based upon an educational philosophy distinct from those of undergraduate and advanced professional programs offered by a university.