I. Point of view, basic assumption, and source of data, 15. — II. Determination of average corporation tax rate, 20. — III. Rate of individual income tax, 22; (a) six broad categories, 23; (b) size classification, 24; (c) representativeness of the average taxpayer, 24; (d) average total income of a class, 27; (e) rates of tax on total income, 27; (f) rates on corporate net income, 32. — IV. Certain policy implications, 35; (a) two factors causing inequity, 36; (6) exploitation of stockholders having low net incomes, 40; (c) complete cure of inequity, realized-income basis, 43; (d) the taxation of income not realized by stockholders, 47; (e) taxing stockholders as partners, 50; (f) partial cures of inequity, 53.

I. Introduction, 559. — II. International equilibrium with flexible exchanges, 560. — III. Purchasing power parity reformulated, 566. — IV. Dynamic interactions, 569; the final equilibrium, 572. — V. Conditions determining which income will be greater, 576. — VI. Conditions determining whether incomes will be greater with or without flexible exchanges, 577. — VII. Conclusions, 579. — Appendix, 580.

I. Introduction, 282. — II. Productivity and the Wage Structure, 282. — III. Unionism and Earnings, 285. — IV. Variation in the Wage Structure, 290. — V. The Statistical Evidence, 1923–1940, 295. — VI. Conclusion, 305.

Abstract In the real world of business affairs, however, the conception of the controller as a member of the management team, contributing to and concerned with the problems of overall administration and effective control, has grown. And it is becoming apparent that the subject of controllership (as apart from the professional aspects of public accounting) is not only relevant to, but important for collegiate business schools. Courses under the title of controllership are growing in number, and there are now at least thirty schools that offer a course in this subject. Part of this is attributable to the appearance of textbooks and other teaching materials emphasizing the viewpoint and the content of the controllership notion, but the underlying factor is the need for education of a different sort than is provided by professional specialization in accounting. On the whole, it is a fairly obvious fact that many of the students who "major" in accounting actually find their ultimate careers outside the field of public accounting.

Abstract The article focuses on the use of films in accounting instructions. Only few students have some knowledge of manufacturing and distribution operations. This has long been a handicap to accounting instruction. Plant visitation is one method used to acquaint students with commercial practice. A tour of a business enterprise is very desirable but may have certain disadvantages and in some instances is impractical if not impossible. Motion pictures showing commercial activities are available from many industrial concerns and associations and some schools are using these in lieu of plant visitations. A single film may feature one or more subjects including a company's general activities, the manufacture of a specific product or line of products, physical plant and equipment, employee relations, company history, research and exploration, or financial operations. Motion pictures are in many instances superior to a plant visitation. They can bring together a series of widely dispersed operations. Movies make it possible to bring to students types of industrial activities which are foreign to their locality.

Abstract Reviews the book "Farm Accounts," by F. Sewell Bray and C.V. Dawe.

Abstract Reviews the book "Elementary Cost Accounting," by George Hillis Newlove and S. Paul Garner.

Abstract Reviews the book "Audit Working Papers," by C. Oliver Wellington.

Abstract Before commenting on the organization of courses in tax accounting or discussing the methods of instruction which might be most effective, the author wants to review the responsibilities of the accountant in connection with tax work. The nature and extent of the tax work ordinarily done by accountants are important considerations in deciding matters of organization and method, if the tax accounting courses are to provide professional training. Federal, state, and local tax returns are usually prepared either in the accounting department of the taxpayer or by a public accountant. In either case, the accounting department must assemble the information required by the various taxing agencies. Also, the chief accounting officer should provide counsel and guidance in connection with management decisions, which may involve tax consequences. Unfortunately, this last mentioned service is often neglected and possible tax economies overlooked. Tax instruction for students who are specializing in the field of accounting should reflect both the nature and extent of the accountant's tax work.