This paper deals particularly with the acquisitiveness of one corporation, the bitumen-based products developer Flintkote Co. Flintkote was chosen because its history, especially the last four years, shows rapid change with numerous business combinations. These business combinations illustrate clearly the application of the accounting procedures of "pooling" and "purchasing" and offer an opportunity to study the effects arising from their use. The fact that accounts are stated in consolidation on a pooled or purchased basis is usually put into the first footnote to the consolidated balance sheet under a statement of consolidating principles. Flintkote has been an active company in the use of the pooling and purchasing concepts in business combinations. A business combination involves the mutual transfer of rights by stockholders of one corporation with those of another corporation. The accounting profession attempts to give reasonable expression to what has occurred. In this article the author comments on various aspects of the accounting principles pooling and purchasing.

From an accounting viewpoint, business combinations are categorized into purchases or poolings. Many corporate executives, who have actually participated in business combinations, are still unaware of just what makes a pooling. A study of poolings indicates that the accounting profession itself has undergone an evolution in its concept of poolings that might have contributed to the state in business information. Accountants themselves are not certain of the criteria that distinguishes pooling from purchasing. The dividing line which distinguishes pooling from purchasing is narrow. In many instances, purchasings are made and recorded that have all the earmarks of poolings, and vice versa. This article examines the present-day pooling concept in the light of its development in the last decade. The significance of the concept is important because from it stems changes in reported earnings, changes in rates of return on investment, interpretation of financial reports by investors and other reactions.

In making the decision to enter graduate training for business there are certain factors that you should consider. These are 1. The philosophy of education of the particular schools and your possible reaction to its training techniques. 2. The need for planning; a. To present the best transcript your talents will allow. b. To take the aptitude examination in your junior year, or certainly midway through your senior year. c. To secure letters of recommendation that will give an accurate portrayal of you. d. To visit the school of your choice so that first hand knowledge of the school is yours, as well as other things such as housing, scholarship and loans, and physical facilities. This sort of preparation will assure your application timely and considered attention and enhance the possibilities of admission.

Reviews the book "Foreign Exchange Risk," by Andreas R. Prindl.

This article focuses on the 1964 Concepts and Standards Research Study Committee of the American Accounting Association, which aimed to expand and to amend in part the statement on realization in "Accounting and Reporting Standards for Corporate Financial Statements--1957 Revision." That statement says the essential meaning of realization is that a change in an asset or liability has become sufficiently definite and objective to warrant recognition in the accounts. In considering this statement, and realization principles generally, attention will be focused on the problems of asset recognition and valuation and revenue recognition. The committee concurs with the statement of the 1957 Revision that primary emphasis should be given to the use by investors of published financial statements in making investment decisions and in exercising control over management. The committee recognizes the difficulty of developing a definition of realization that will have general applicability. Nevertheless, four of the committee members feel there is sufficient significance in the difference between realized and unrealized changes in value to justify making the distinction.