T HE Bureau of Labor Statistics since I927 has published a breakdown to indicate the number of work stoppages and the workers involved in jurisdictional disputes.' It is the conclusion of this note that these statistics are completely unreliable as a measure of the absolute number of jurisdictional disputes or as an indicator of their variation over time. Unless methods of reporting can be improved,2 the breakdown on jurisdictional disputes in the B.L.S. statistics should be discontinued. It is possible to compare the B.L.S. figures with the records of the National Joint Board for Settlement of Jurisdictional Disputes in the Building and Construction Industry. This private machinery, created by agreement between major contractors' associations and the unions, became effective May i, I948.3 The comparison is particularly significant since by common consent the vast majority of all jurisdictional work stoppages take place in the building and construction industry. Before presenting the figures, it must be noted that the B.L.S. data have a more comprehensive scope by virtue of the following factors: (a) The private machinery does not handle disputes, even in the construction industry, with unions outside the A.F.L. Building and Construction Department. This exclusion for practical purposes would apply to those disputes with the machinists and to disputes with industrial unions over the borderline between maintenance and construction work. (b) Not all jurisdictional work stoppages within the province of the private machinery were presented to it for settlement, although any contractor hiring union men could present a request for a decision on agreeing to be bound by the ruling of the private machinery. There is no way to estimate the proportion of all jurisdictional work stoppages in the industry presented to the Joint Board; the fraction is no doubt very large. Table i indicates the number of jurisdictional work stoppages reported by the B.L.S. and those presented to the Joint Board in the building and construction industry since May i, I948.4 The figures from the private machinery show separately work stoppages in which one or more unions were on strike from instances in which the contractors shut down the disputed work or the whole project as a consequence of a threat of strike.

The article presents accounting problems prepared by the Board of Examiners of the American Institute of Accountants and presented as the first half of the November 1949, Certified Public Accountants Examination in accounting practice. The candidates were required to solve first problem and two of the remaining three problems in four and a half hours. he weights assigned to the problems were :problem 1, 14 points; problems 2, 3, and 4, 18 points each. The first problem is related to federal income tax. The second problem is related to adjustments for errors and omissions in capital accounts of partnership firms. The third problem is on the manufacturing firm. The third problem is related to computation of the amount of an insurance claim for fire loss of raw materials in a manufacturing firm. The fourth problem deals with revision of the balance sheet of the given city in accordance with acceptable methods of government accounting and provide and analysis of the changes in surplus funds of the given city. The answers to the given problems are provided at the end of the article.

The article focuses on the problems prepared by the Board of the American Institute of Accountants. These problems were presented as the second half of the November 1949 CPA Examination in accounting practice. The candidates were required to solve both problems in four and a half hours. A suggested time schedule is mentioned, for problem 1, the time schedule is 50 minutes and for problem 2, it is 105 minutes. A list of problems for students is mentioned in the article.

The article presents questions and answers to the problems, which were prepared by the Board of Examiners of the American Institute of Accountants and were presented as the second half of the May, 1950 C.P.A. Examination in accounting practice. The candidates were required to solve all problems. The time allowed was four and a half hours. The weights assigned were: Problem 1, 10 points; Problem 2, 10 points; Problem 3, 30 points. A suggested time schedule is given below: Problem 1: 75 minutes; Problem 2: 60 minutes; Problem 3: 120 minutes. You have been engaged to audit the Thomas Trading Company as of December 31, 1949. A summary of the general ledger accounts is presented below. Based on the transactions as stated and the supplementary information, you are to prepare working papers which show in detail "Ledger Balance 12/31/49," "Audit Adjustments," "Profit and Loss for Year," and "Balance-Sheet 12/31/49." Columns for "Surplus Changes" may be included or entries to "Surplus" may be shown in the other columns provided such entries are clearly identified as applicable to "Surplus." Key all audit adjustments and in journal form present the adjusting entry together with a brief explanation of the purpose of or reason for the entry. A worksheet for Balance-Sheet accounts and a separate worksheet for Profit and Loss accounts may be prepared. The article presents the balance sheet in response to this question.

The article presents a professional question paper for department for students of Accounting. The problems were prepared by the Board of Examiners of the American Institute of Accountants and were presented as the first half of the May, 1950 C.P.A. Examination in accounting practice. The candidates were required to solve problems 1 and 2 and either problem 3 or problem 4. The time allowed was four and a half hours.

Originally published in 1947, this book is divided into three parts. Part I discusses the historical background, the internal organization and the business of the clearing banks. Part II consists of four chapters with two appendixes on the floating debt and the London gold and silver markets. Part III deals with institutions prior to 1914, the war of 1914 and its consequences, and the world crisis and after. There is also a statistical index.

The Air Force has been auditing procurement and supply contracts since 1926. In practice, a wide variety of audit work is performed but the major part of procurement auditing affects two general types of contracts-those of a cost-reimbursement nature and those of a fixed-price nature with price redetermination provisions. It is generally agreed that it is appropriate for the Air Force to verify the validity and propriety of claims for reimbursement submitted by contractors under cost- reimbursement type contracts. Obviously, it is impossible for auditors to perform a detailed audit of all transactions relating to the average Air Force contract, therefore, recognized selective audit methods are utilized to the fullest extent practicable. Certain basic factors which auditors are required to consider are: (1) adequacy and reliability of the contractor's accounting system and related internal controls, (2) previous experience with the particular contractor on Government contracts, and (3) the volume of cost to be audited, i.e., the amount of the claim or the amount of the cost statement in relation to the effort and time to be expended on the audit and in relation to the contractor's other business.