Auditor training, Syllabus, Scotland

ECONOMISTS have long attacked horizontal merger for its role in increasing concentration and defended it as a relatively painless means of attaining economies of scale and/ or inter-regional entry. This paper attempts to evaluate these divergent views using the experience of six large industries. In part I, the data and definitions used are explained. In part II, an attempt is made to measure the role of merger and of various other factors in concentration change. Part III examines the proportion of acquired capacity that is sub-optimal in scale, and part IV, the proportion that is inter-regional. Part V contains some brief conclusions.

sion equation presented in the note, in which x appears as an independent variable. Therefore, the high correlation between migration and prospective unemployment may be misleading. It may be, in effect, merely a correlation of the dependent variable with itself. On the basis of the foregoing, it would appear that the problem of establishing a strong link between migration and job opportunities may not really have been solved by introducing the new concept of unemployment. Nevertheless, Dr. Blanco's ingenious approach to the problem will be of considerable interest to anyone concerned with the determinants of population movements.

Journal Article Production Functions in which the Elasticities of Substitution stand in Fixed Proportions to each other Get access W. M. Gorman W. M. Gorman Nuffield College, Oxford Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 32, Issue 3, July 1965, Pages 217–224, https://doi.org/10.2307/2295825 Published: 01 July 1965

Abstract The purpose of this article is to outline some significant changes which have occurred during this period with particular reference to the accountant's duties arising from the Companies Acts in Australia. A recent survey of members indicated that about 21 per cent of the society members are in public practice or employees in public practice, while 3,300 of the members of the Institute of Chartered Accountants are in practice. So there would be approximately 8,500 members of the various professional bodies engaged in public practice. While the majority of accountants are affiliated with one or more of these bodies there remain a number outside. In the public practice area these persons are pre-dominantly involved in certain classes of taxation return preparation, the uniform companies acts. Under the Australian Constitution the Commonwealth Parliament can legislate only on matters expressly delegated in the Constitution. The powers of the Commonwealth with respect to companies are incomplete and the framing of companies legislation has remained a matter for the States.

Abstract The article examines the way in which antitrust matters are handled in financial reporting. The reports of two major companies, General Electric Co. and Westinghouse Corp., are chosen. Examination is limited to the published annual reports of the companies. Since disclosures were similar up until the time that losses were actually recorded, both companies are treated together in 1939, 1960, and 1961. After that, reporting diverged so both companies are dealt with separately in 1962, 1963, and 1964. In 1960 both companies had already pleaded guilty on the various actions in the antitrust suits. The record of their approach to the problem should lead one to certain conclusions as to the adequacy of their response to this reporting challenge. The differences in treatment are considerable and indicate clearly the possible diversity in present accounting practice. The way in which the reporting challenge was met by these two companies indicates a wide diversity in accounting practice and suggests a lack of imagination in dealing with a problem that involves some complex questions of disclosure and reporting.

Abstract The purpose of this article is not to discuss the arguments for or against the use of direct costing. It is instead to locus attention on some of the legal implications a company should keep in mind with respect to taxation, securities regulation, and antitrust and other legislation if it is considering the use of direct costing as an all purpose accounting technique. Advocates of direct costing maintain that it simplifies the interpretation of financial results and that it is particularly useful for profit planning, pricing decisions, and cost control. Opponents do not generally deny that the system has advantages, they are more concerned with its application to external reporting. The National Association of Accountants reported that seventeen of the fifty companies participating in a research study report used direct costing in preparing financial statements for stockholders. In none of these cases had auditors given a qualified opinion or taken exception to the practice. Apparently the CPAs performing the examination believe that the use of direct costing results in financial statements which present fairly both the financial positions of their clients as well as the results of operations for the periods under review.

Abstract The article focuses on the fund-flow problems which cause the student to think about the interrelationships existing between balance-sheet accounts and income-statement accounts. As a result of this thinking, the student develops a workable understanding of the whole process of accrual accounting. Problems requiring a statement of working-capital flow or a statement of cash flow are excellent devices for teaching accounting. There is a method applicable to solving fund-flow problems which provides some of the advantages of both the worksheet approach and the T-account approach. This method requires the construction of a form which may be thought of as a quasi worksheet or working paper. Through the use of this form the student can see the intermediate steps necessary to solve the whole problem, and he can sense the advantages of a well-organized solution. A completed working paper includes a well-designed working copy of the fund-flow statement. A formal fund-flow statement can be copied directly from the working paper without extensive interpretation of the data.