Search

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.

Focuses on the guidelines set by the American Institute of Certified Public Accountants on the development of accounting curriculum. Evaluation of university courses on accounting and taxation; Discussion on the knowledge of college students on the accounting framework; Perception on tax planning and preparation of income statements.

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.

This article provides information on the American Accounting Association (AAA). The association which represents the academic side of the accounting profession, has long enjoyed the support and interest of practitioners. It is natural that members of a profession should be concerned about education for the profession. These interests have been stimulated in recent years by the strong demand for the profession's services and its attendant reassure on recruiting, by the development of computers and technical advances in the analysis of business problems. The AAA provides a forum for discussion of accounting problems and an opportunity for furthering personal acquaintance among teachers and practitioners in its annual conventions.

This article describes the possible changes in the accounting curriculum in the twenty-first century. With the rapid pace toward the changing environment of the twenty-first century, it becomes increasingly imperative that accounting curriculums be under constant review, and that they be kept flexible. The possibility and necessity of curricular change should be approached on a total basis, not a piecemeal one. Piecemeal, course-by-course change can only be haphazard when it is applied to a package-type curriculum such as has been common in accounting education. Essentially, accounting curriculums must reflect the dynamics of change, not the sterility of tradition.

Discusses the views of the editor on the role of local or solo practitioner in public accounting and on computer-prepared tax returns. Advantages and disadvantages of local accounting practice; Benefits of using computers in preparing tax returns; Major error of computer processing.

This article discusses the study Opinions, Scholastic Rankings and Professional Progress of Accounting Graduates, by Felix P. Kollaritsch, Professor of Accounting at the Ohio State University, which focused on the professional progress of Ohio State accounting graduates. In his own summary, Kollaritsch limited himself to an analysis of and comparison between the areas of employment which the accounting graduates entered directly after graduation and the areas of their employment during 1967. He found that public accounting hires more new accounting graduates than any other area of accounting. The opinions of the Ohio State accounting graduates concerning aspects of their college education suggest that many ex-students share with educators some views as to the appropriate curriculum for an accounting major. In academic ability, the Ohio State accounting graduates look a lot like accounting graduates across the nation, as indicated by national surveys.

This is a reprint of the article The Use of Money in Motivating Professional Personnel, by Donald H. Cramer published in both the Oklahoma CPA and the California CPA Quarterly journals. It is easy to jump to the conclusion that money, paid directly, can solve most problems of motivation. We all know money serves as a medium of exchange for most human needs and pleasure. It offers, too, a convenient measure of the achievement of a man or recognition in his profession. Yet in the accounting profession we are more prone, perhaps, than most professions to overvalue the ability of money to motivate others, for we are in a profession that talks in terms of money and dollar measures everyday. All of the actions and interactions of human beings in business tend to become a series of units, dollars and ratios.

Presents a survey of doctoral accounting programs in the United States for the period of 1965 to 1969. Methodology of the survey; Number of earned degrees conferred by universities; Prospects for the supply of accounting professors with doctorate degrees.

This article discusses the educational process to be undertaken by the firm and by the educational institution with regard to the main areas of public accounting. This means the commitment of resources, both financial and human in the practice of auditing, taxes and management advisory services. The authors suggested that adequate training or education is a joint undertaking on the part of accounting practitioners and accounting educators.

This article presents a review checklist for audits prepared by the American Institute of Certified Public Accountants. The checklist includes: the purpose of audit reviews; materials needed; review steps; and miscellaneous matters. This guide should be of great help to local practitioners and small firms in the U.S. in improving their reports and their professional and client image.

Presents information on the Accounting Careers Council (ACC) and its responsibilities. Information that attracting intelligent high school students to study accounting in college is the objective of the ACC; Report that the ACC is a collective association of seven professional accounting organizations which joined together to eliminate duplication of effort in recruiting students to accounting; Note on the change in the organizational structure of the ACC; Description of the purpose of the ACC; Report that the ACC provides students and their advisors with information that will broaden their knowledge of career opportunities; Vision to offer students a unified story on the whole field of accounting.

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.

Deals with several issues on accounting practice in the United States as of September 1968. Discussion on profit-sharing arrangements in small business; Qualifications of prospective accounting client; Philosophy of public accounting.

Describes a good managing partner. Notions about a manager's life; Sense of timing of a good manager; How a good managing partner formalizes policy decisions.

This article discusses the criteria that could be used to ensure systematic indoctrination and development of newly employed accounting staff. A beginner staff accountant has well-rounded collegiate backgrounds in theory of business and related accounting and auditing. At the start of his career, he needs an orderly way to test his ability to move from the abstraction and exercises of his academic life into the real world of business. In creating an appropriate environment for effective performance and growth, organization managers should understand and provide fundamental needs of the beginning staff accountant. They should also recognize that organization controls need to be flexible enough to accommodate distinctive abilities, needs and drives of individual employees.

This article interrogates the balance sheet of an employee's profit-sharing trusts with the usual assets of cash, building and loan accounts, stocks and the capital section consisting entirely of the trust members' balances. Since both the cash, building and loan balances at the year-end did not reflect the transfers, it is wondered if there is a need of change in the asset accounts so that they would appear as consummated by the year-end or if a liability should be shown from the trust to itself.

The article presents the second part of the article, which deals with the use of money in motivating professional personnel in the U.S. Here the discussion is continued in the analysis of salary, bonuses and profit-sharing as motivated forces. Also evaluated are the indirect uses of money in the form of fringe benefits and status-related rewards.

This article presents an outline of the activities of certified public accountants (CPA) which includes within each activity an inventory of statistical methods that might be effective in solving their problems. It is therefore intended to be a survey of appropriate statistical methods rather than an attempt to describe the use by CPA of these methods. There will, however, be appropriate references to items that have appeared in the accounting literature which may serve to illustrate the use of particular statistical procedures. In examining the whole of what statistics has to offer the CPA, one finds that there is already a substantial recognition among CPA of the opportunities to utilize appropriate statistical methods in their activities.

Presents an update on issues related to the accounting profession in the U.S. as of May 1967. Suggestions on how accountants can avoid errors regarding the matter of business interruption coverages; Suggestions for simplifying ad routinizing depreciation computations; Tips on how to convert a semi-machine payroll to a computer system.

This provides information on the preparation of a trend report type of financial statements. According to Aaron M. Rose, CPA at Margolis Rose and Abramson, a trend report is a columnar presentation of balance sheet and profit and loss figures with the consecutive periods set side by side. The first column may be January, the second February, so on and so forth. With this setup, one can easily see the trend from period to period. The traditional accounting report is prepared anew each time, but the trend report makes use of the same master form for many periods.

This section presents information on the contents of a checklist of insurance coverage. Checking client's insurance coverage is such an accepted audit procedure that many of us risk making the mistake of giving the client's coverage only routine attention. Milton E. Mandel, certified public accountant of Milton E. Mandel & Company in Jersey City, New Jersey, has designed a checklist which his firm has been using for years. It is part of every audit program. He has classified the coverages into three groups, which are essential, important and optional. Mandel states that because of the checklist he and his partners have frequently been able to call attention to types of coverage of which the client was unaware. It is not possible for them to cover all types of insurance. The essential coverages comprises the protection against losses which would be disastrous or severely crippling. The important coverages, however, comprises the protection against losses which might be severe but which could possibly be met out of profits or accumulated reserves. And lastly, the optional coverages are the ones that are desirable by converting possible losses into a small, fixed annual expense, or because of special services of the insurance company.

The article compares several types of insurance carriers in the U.S. The certified public accountant in his role as an adviser to management can frequently make a valuable contribution to the development of an insurance program. While the accountant usually will not have a thorough knowledge of the various forms of insurance and the markets which are available for insurance coverage, he can acquire a great deal of knowledge on the subject by study and observation of the practices of an insurance-conscious client. Clients expect competence in auditing, accounting and tax matters but when an accountant actively assists in developing an effective insurance program, it is usually an unexpected service which adds to his stature. With respect to various types of insurance carriers, the chart comparing types of insurance carriers and the accompanying notes were prepared. Qualified companies can effect economies in cost of insurance since rates are often lower than those ordinarily published by rating board.

Discusses several accounting-related issues in the United States. Description of a reporting system designed to evaluate an employee's performance; Comment on an article written by Ernest L. Kirk, regarding the benefits of communicating with the predecessor certified public accountant before accepting an engagement; Discussion of a tendency on the part of certified public accountants to underrate themselves as business advisers.

The article focuses on the attitude of certified public accountants (CPA) toward making financial statements and their resistance to the use of computers. The history and definition of write-ups for business enterprises is discussed. Serious contemplation, investigation, and involvement in electronic data processing (EDP) is long overdue by CPA. Many EDP people are attempting to handle accounting problems without having adequate knowledge of accounting and conversely too many accountants are ignoring an aid to their profession that is here to stay and must be reckoned with.

This article describes a program that has been established by the American Institute of Certified Public Accountants (AICPA) committee to provide educational opportunities to disadvantaged groups. Most CPA firms have accelerated their efforts to recruit individuals from minority groups, but many of these firms indicate that they are unable to find many qualified individuals. In September 1968 and February 1969, 601 culturally deprived students were admitted to the first year of the Special Education Opportunities Program (SEOP) at the Champaign-Urbana campus. Although culturally and educationally disadvantaged when compared to the average university student, these students demonstrated a desire for and a motivation toward achievement in higher education.

Discusses the status of the recruitment of accountants for local accounting firms in the United States as of September 1, 1970. Advantages and disadvantages of an accountant that starts out his or her career; Information on the starting salaries of accountants; Nature of the work of new accountants.

Presents several observations concerning the task of time keeping in an accounting operation. Terms used for the time spent for non revenue purposes; Information on the components of a time record; Distinction between productive and nonproductive time; Discussion of classes of hours on duty registered in time records; Reasons for keeping time records.

Deals with various matters concerning the practice of the accounting profession in the United States. Factors to consider about billing; Example of a worksheet for use in income averaging.

Examines the debate over teaching versus research by accounting professors in the United States. Involvement of accounting professors in the research programs of the American Institute of Certified Public Accountants; Limitations set by the dichotomy between teaching and research; Courses of action available to universities in relation to the publication of research.

The article presents information on accounting for political campaigns in the United States. The basic question in campaign financing is not whether one can afford to spend money, but rather if the campaign can afford not to spend money on some vital phase of the campaign strategy. All deposits should have some detail to indicate the source of the cash deposited. It is not uncommon for a political committee to accept pledges for contributions and then bill the pledges at a later date. It is obviously important to keep some kind of memorandum record to be sure that action is taken to collect the pledge. If an individual volunteers labor to a campaign, proper facilities should record his offer of help and he should be contacted when his help is needed. Income and expense classifications are not currently established on a national basis for the use of campaigns ns. Hopefully, the states will eventually require adequate reporting by candidates and committees so that researchers and political scientists can correlate success with the level of expenditures and the public can determine where the funds are coming from and where they are going.

Describes a recruiting and development program of the accounting firm Yeager, Ford & Warren in Louisville, Kentucky. Attributes in an applicant required by the firm; Three things that the firm can offer to the qualified applicant; Concept of the staff training process adopted by the firm.

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.

This article proposes the adjustment of the traditional scope for cash field audits when cash is not a major balance sheet item. The purpose of audit field work is collection of evidence to confirm or deny the proposition that a client's financial statements are fair and consistent, determined by the auditor's willingness to confirm the proposition and the kind of work necessary to discover such evidence. Audit scope is a function of the auditor's wishes to be able to say about the financial statements of a client who intends that the statements be used by investors or other interested parties. In traditional audit approach, the cash audit part of the field work should detect any variation that might figure in an investment decision. The extent of work done should be the amount necessary to prove the proposition that no cash variations should be likely to affect an investment or credit granting decision. The degree of certainty implied can be established through evidence developed by the following proposed audit work: 1. Internal control procedures be tested to determine (a) that minimum internal control (still) exists and (b) whether the quality of internal control is trending down. 2. Tests of transactions expanded to trace disbursements to cancelled checks and receipts to bank statements or deposit slips for the transactions. This approach to cash will save time that might be used to relieve pressure on an overworked staff.

In the article, the author points out the changing conditions which suggest a need for corresponding changes in the design of work paper. He also shares his specifications for custom printed paper used by his firm. Columnar paper is used for many purposes other than audit work paper. This seems to be commonly overlooked by column-paper printers. The author noted that their firm is only one of many that has practically all their column-paper custom printed. They preferred that printers do the thinking for them on such matters in which they are supposed to be the experts, but there has been little choice.