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The article focuses on public accounting issues in the United States. An accountant's report is specifically leisured only with respect to statements of past operating results and financial position, but accountants normally are requested by boards of directors to satisfy themselves that directors' forecasts have been prepared on a reasonable basis. The client's procedures are being followed and are adequate to insure the proper accumulation, recording and disbursing of payroll. Preprinted audit programs designed for all clients are a poor substitute for a program designed on a client by client basis. For example, the payroll and purchasing data, where applicable, can be traced to the job cost cards to test the accumulation of job costs upon which the auditor may rely for his valuation of inventory. In cases where subsidiary ledgers of accounts receivable or accounts payable are not in use, the steps for retracing of posting to subsidiary-ledger would not apply, but instead the auditor could examine the collection copy of the sales invoice noting that it is stamped paid and date thereof.

This article discusses some solutions on the problem regarding the planning and scheduling of staff for auditing engagements of accounting firms. Overall scheduling practices are governed by the broad long-term firm policy goals. One proposal to solve the issue is to schedule men to engagements with which they are familiar. Another is the advance delegation of probable engagement segments so that each certified public accountant is assigned to a task and so that the overall audit staff is working as near optimum capacity as is possible.

Deals with several matters concerning the practice of the accounting profession in the United States. Policy on fees of Ware & Fulle, an accounting firm in Richmond, Indiana; Reprint of an article on the use of appraisal values on balance sheets.

This article reports that Carl S. Chilton, a certified public accountant in Chilton & Co. has discovered that there was some misunderstanding by clients about the method his firm uses for charging various rates for its staff in the U.S. A client of long standing had expressed concern about the firm's sending a staff man to do some work they thought a partner should be doing. He discovered they were disturbed mainly because they thought the billing rates were the same for all staff. Chilton's firm is not afraid to stand up and be measured by clients.

The article discusses the commendable spirit of continual practice by certified public accountants (CPA) by citing a motivating example. It depicts how after the serious accident of an fellow accountant, CPAs of the Idaho Society of Certified Public Accountants took over the pending works of injured colleague. The Society notified the officers of the state society, who approved the action taken and immediately called the Society's emergency professional assistance committee to active duty. Subsequently after the death of the injured colleague, all the clients were requested on the letterhead of deceased CPA to cooperate in the grave situation. List of the clients was prepared and all the CPAs of the society were given the choice to serve the clients of deceased colleague. Each CPA or representative at the meeting was told to review the list and make a separate written offer for each client they would like to serve. The efforts of the Idaho Society of Certified Public Accountants reminds of the proverb "The show must go on."

This article focuses on self-management, a vital subject encompassing the professional development program for accounting practitioners and small firms. Self-discipline includes a schedule to determine priorities and to allocate time and complete all assignments and still allow for social life. An important facet of self-management for the accountant is being well prepared when he goes to a client's office. On an out-of-town engagement, it is even more essential that nothing be forgotten. It is embarrassing to have to call the office for something that should be in the possession of the accountant. Self-confidence is also an aspect of becoming an effective manager. If a major decision has to be made, it is the accountant's responsibility to gather all pertinent facts and express a preliminary opinion based upon his observations.

This paper discusses various issues related to accounting in the U.S. as of January 1967. The sale of a residence usually creates a problem in determining the cost, and the longer the client has lived in his or her residence, the greater the problem will be. As soon as one are a certified public accountant, join the American Institute of Certified Public Accountants and a state society. Be an active member. The friends and acquaintances one make will be valuable when starting a practice. A rigorous self-development program should be established early. Just before one open a practice, one will need to plan a filing system, seek full- or part-time clerical help and work out necessary forms for one's own use.

This article describes the procedures that a Certified Public Accountant (CPA) firm may follow to implement an incentive plan that stresses the measurable factors of employee performance. Before implementing an incentive plan, the CPA firm should resolve various matters. The firm should decide whether its partners will participate in the plan, and, if so, how the bonus payments will affect the distribution of profits among the partners. Of course, the firm may choose to admit all personnel except partners into the plan. Of all the duties facing the accounting profession, staff training is one of the most necessary, as well as the most complex. If the accounting profession as a whole is to occupy its proper position in the society, one has to furnish properly trained men and women to fill the ever-increasing demand. The real problem in staff training is organized planning. This has to begin with periodic, weekly or monthly, programming of the entire office "time inventory." In this program there should be adequate provision for everybody, including the staff, to continue their professional development.

The article presents insights of several accountants on various issues in the United States as of January 1966. In order to emphasize the role of a certified public accountant (CPA), it states that CPAs can perform a valuable service for the client who has suffered a fire loss. CPAs can perform an even greater service for clients, however, by reviewing the clients' records with the thought that those records should be adequate to support a fire loss claim. In the continuation of discussing the role of accountants it reports that recently a fire completely destroyed one branch in a small chain belonging to a mid-western electronics jobber. The inventory consisted of approximately thirty thousand different items. The fire policy under which the company was insured contained reporting provisions. The insurance agent suggested a preliminary conference with the fire adjusters. The purpose of the conference was to determine what steps were necessary in filing the claim. The monthly inventory computations were discussed with the adjusters, and the company was informed that this information was not sufficient to substantiate a claim.

Focuses on the advantages of accounting practice in a small community. Misconceptions about small certified public accounting firms; Ways in which accountants may be recognized in small communities; Assessment of the job satisfaction of accountants in small communities.

Presents tips for managing issues related to the accounting practice. Procedures for a confirmation service unit; Information on budget for profit in accounting firms; Application of the tax computation table in accounting management.

Provides an update related to accounting practice in the United States. Management of investment credit in relation to retroactive taxes; Requirements on the formation of partnership between accounting firms; Factors to be considered in preparing financial statements of nonprofit organizations. INSET: Checklist for Preparation and Review of Financial Statements.

Provides an update related to accounting practice in the United States as of 1970. Discussion on the recruitment and training of junior accountants; Guidelines on the analysis of financial statements; Assessment of partnership agreement between accounting firms.

The article offers insights on the recruiting practices of local accounting firms in the U.S. There is a changing character in the labor market resulting from the greater need for individualism that has evolved. As a result, the local accounting practitioner is now in a better position with regard to recruiting outstanding college graduates. A person selecting a position has tangible and intangible factors to consider. All accounting firms, large or small, should be in a position to answer a recruit's question as to the objective policies regarding advancement to the partner level. Man is an emotional being who, after all the tangible pros and cons have been weighed, nonetheless places great emphasis on the intangible in much of his decision-making.

Discusses several matters concerning accountants and accounting firms in the United States. Use of a chart for training junior accountants on the Statements on Auditing Procedure Number 38 of the Accounting Principles Board; Details on three books of interest to small practitioners; Features of a joint recruiting program for small accounting firms in Indiana.

Presents information about the accounting firm J. H. Cohn LLP. Description of the work environment in the firm; Consideration of only job performance for promotion; Importance given to training of new staff; Details of the training program of the firm; Evaluation of each member's performance and salary twice a year by partners, managers, and seniors; Details of the personnel policies of the company.

Presents an analysis of the Management of an Accounting Practice Bulletin No. 14d, "Revenue and Expenses of Accounting Firms." Note that most of the figures provided in the bulletin are medians; Creation of a hypothetical firm, Small Median & Co.; Reconstruction of a statement of income and expense for this firm; Analysis of gross income, gross profit, net income and operating expenses; Note on the cost of keeping equipments up to date; Conclusion that the future of Small Median & Co. is dismal.

This article presents the mileage reimbursement policies of several accounting firms in Chicago, Illinois. These firms were asked how they handle mileage allowances. Many firms feel that the office should be the focal point for mileage allowances. It is a person's responsibility to arrive at his office regardless of his choice of residence. Some firms believe that the office focal point is unrealistic, since an auditor spends most of his productive time in the field. He normally does not come to his office but travels directly to an assignment. Other firms completely avoid the problem of mileage allowance. This article also presents several plans of the firms in trying to resolve mileage allowances.