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By LEO GREENDLINGER, B. C. S. Instructor of Accounting in New York University School
of Commerce, Accounts and Finance. As explained in the first installment of this article, which appeared in the February issue, the books described are classified as follows:
Part I, treats of those volumes which deal with one or more special forms of accounts. In the case of each volume, it will be noted, as far as possible, for what grade of students it is best adapted. The part is subdivided into Section A, containing the first series of volumes of the Accountants' Library from Vol. I to Vol. XX, and Section B, containing the second series of volumes.
Part II, treats of other accounting literature, and is subdivided into three sections, viz. :
SECTION A, to contain a description of the books adapted best for the elementary study of accounting.
SECTION B, to contain a description of the books suitable for intermediate study.
SECTION C, to contain a description of books adapted to the advanced study of accounting.
PART I (Section B). Vol. XXI. Municipal Accounts, by John Allock, F. S. A. A. While the book does not treat the subject in general, but as applied to England, yet on account of the great number of forms (61) it is at least a good guide in the introduction of a system of accounts for municipalities.
Vol. XXII. Underwriters' Accounts, by Spicer and Pegler, A. C. A. Like other volumes of the Accountants' Library this book treats of the forms and books, as well as accounts incidental to underwriters' accounts.
Vol. XXIII. Jewelers' Accounts, by Allen Edwards, F. C. A. The book treats of the account and book forms incidental to jewelers', silversmiths' and kindred traders' accounts. It gives a list of all books required for properly recording transactions, as well as determining the cost of articles produced, etc. It is especially valuable for the chapter on the prevention of fraud, theft, embezzlements, losses, etc.
Vol. XXIV. Multiple Shop Accounts, by J. Hazelip, F. C. I. S. Though this volume is especially adapted to England, yet it gives a general description of the working of shops and introduces various forms
of books and accounts. It also gives a Pro-Forma Ledger, with explanatory text.
Vol. XXV. Building Societies' Accounts, by W. Collin GrantSmith, LL. B., A. C. A. This book is especially adapted to permanent societies. It takes up the nature and constitution of building societies, and gives the bookkeeping, forms and tables for this class of accounts.
Vol. XXVI. Depreciation, Reserves, and Reserve Funds, by Lawrence R. Dicksee, M. Com., F. C. A. The author, in his introduction, acknowledges that he is fully aware that he is discussing some of the most vexed questions in relation to accounts, and for that reason he has throughout the book endeavored, as far as possible, to separate matters of mere opinion from matters of fact. The book gives all the methods by which depreciation may be covered, showing by different tables how the results should be arrived at.
It further treats of Reserve Funds, Secret Reserves, Sinking Funds. The book devotes also one chapter to the Double-Account System.
Vol. XXVII. Quarry and Stone Merchants' Accounts, by A. E. J. G. P. Ibotson, A. C. A. This book, perhaps more than any other of the Accountants' Library volumes, is for the accountant student rather than for the owner or manager of a quarry.
Vol. XXVIII. Friendly Societies' and Trade Unions' Accounts, by E. Furnival Jones, A. S. A. This is a purely local (English) book and treats only of ordinary friendly societies, branches of registered orders, and of trade unions. It gives all forms, a standard general ledger, and final accounts, concluding with the audit of friendly societies. It may, perhaps, be of interest to note that under the name “Friendly Societies," the Chief Registry Office in England includes: ordinary friendly societies, branches of registered orders, collecting friendly societies, benevolent societies, workingmen's clubs, specially authorized societies, and all the insurance societies.
Vol. XXIX. Electric Lighting Accounting, by George Johnson, F. S. S., F. C. I. S. The book gives the principles and forms for the various books of account, as well as statistical books, and a set of ProForma transactions.
Vol. XXX. Fraud in Accounts, by The Editor of The Accountants' Library. The book discloses how frauds are exercised, resulting in misappropriation of money or goods, and gives special instructions how to detect them. It further gives systems for a proper internal check. Vol. XXXI. Drapers', Dressmakers',
and Milliners' Accounts, by George H. Richardson, F. S. S., F. C. I. S. This volume is purely local (English) and gives forms of books and accounts incidental to this industry.
Vol. XXXII. Wine and Spirit Merchants' Accounts, by A. Sabin. The author, in the introduction, traces fully the wine industry, giving various tables, and states that "the object of this volume is to set forth simply and clearly a system of accounts which may be considered necessary to enable a wine and spirit merchant to ascertain his position at the end of his trading period as regards his stock in hand, sales, and
profit or loss made.” The book as a whole is applicable to a general liquor business.
Vol. XXXIII. Dairy Accounts, by F. Rowland, A. C. A. The treatise covers the entire industry, by giving not only the forms and books, but also worked out sets and illustrations. A good many of the forms, however, are more common in England than for the general trade.
Vol. XXXIV. Brickmakers' Accounts, by W. H. Fox, F. C. A. The book treats of the subject in such a way as to make it adjustable not only to the experienced accountant, but also to the beginner. It begins with specimen Balance Sheets and Profit and Loss Accounts, followed by forms of books with Pro-Forma entries and explanations.
Vol. XXXV. Timber Merchants' Accounts, by Ernest E. Smith, A. C. A. This book is valuable not only to accountants, but to the trade as well. It is a complete treatise on the subject, and deals with the accounts of a wholesale and retail timber merchant, and all books, accounts, and forms are fully explained and elucidated. In one of the chapters a complete set of accounts is worked out.
Vol. XXXVI. Insurance Companies' Accounts, by Edgar A. Tyler, F. S. A. A., F. C. I., F. S. S. The book treats of the various forms of insurance, viz.: fire, accident, burglary, sickness, fidelity, guarantee, and life. The book avoids general principles of bookkeeping, or other matters which are found in a general treatise on accounting, and treats only of the technicalities of account-keeping relating to the business of insurance. In the words of the author, “The book has been designed to meet the requirements of three classes of readers:
" (1) Auditors desirous of obtaining information upon the technicalities of the business.
" (2) Accountants who may be called upon to devise a set of books for a new company, or to suggest an extension or improvement in an existing system.
" (3) Students of insurance generally."
Vol. XXXVII. Hotel Accounts, by Lawrence R. Dicksee, M. Com., F. C. A. This book treats the subject in a general way, giving forms as well as books incidental to this class of accounts. It devotes also a few pages in explaining how to audit the books and about an internal check system.
Vol. XXXVIII. Laundry Accounts, by F. J. Livesey, F. C. A. The book is divided into three parts, viz.:
Part I, dealing with subsidiary and statistical books relative to the collection, delivery, etc., of customers' articles of washing.
Part 2, dealing with the books of account necessary to be kept for recording the transactions of a laundry concern.
Part 3 is devoted to incidental matter, such as: weekly returns, depreciation, branch accounts, etc. The book gives also examples of ruling, with explanatory text, and a set of Pro Forma transactions of a laundry business for one month, together with Profit and Loss Account for the month and Balance Sheets, as at the commencement and end of the month. Vol. XXXIX. Cotton Spinning Companies' Accounts, by William Moss, F. C. A. More than two-thirds of the contents of this volume are devoted to books of account, forms, etc., showing also statistical books, as well as the different ledgers, with all incidental accounts. In the words of the author: “ It is intended to show in the ProForma accounts appended hereto, the method of keeping, by double entry, the books of a limited cotton and spinning company owning a mill containing 82,044 spindles, of which 36,426 are twist, and 45,618 weft, spinning American cotton.” While some of the books, and perhaps accounts, are necessarily local (English), arranged to comply with the requirements of the Company's Acts, of 1862 to 1900, yet the practical data given can be used with advantage for this class of accounts in general
Vol. XL. Shipping Accounts, by R. R. Daly, F. C. A. The book treats of the shipping industry in general, and gives forms of accounts and books with explanations of all the forms.
Vol. XLI. The Accounts of Trustees, Liquidators, and Receivers, by Sidney Stanley Dawson, F. C. A., F. C. I. S., F. S. S. While the book treats the above mentioned accounts in detail, the whole treatment is based on English Acts of Parliament.
Vol. XLII. Multiple Cost Accounts, by H. Stanley Garry, A. C. A. This volume is the first of the group presenting cost accounts, adopted in this series, and is applicable to undertakings where a number of products are involved, bearing little or no apparent relation to each other in cost or selling price—such as engineering specialties, cycles, hosiery, boots, furniture, agricultural implements—in which standardization in parts is carried to a high degree of specialization in manufacturing. This book, like the others, gives forms of accounts and books. It is also local (English) in its scope. It may be mentioned here that advanced students would do well to study the contents of this volume in connection with the following volumes: Terminal Costs, Single Costs, Process Costs and Operating Costs, which books together give a thorough understanding of the operation of cost accounts.
Vol. XLIII. Woolen and Other Warehousemen's Accounts, by John Mackie. In his introduction the author states: "In setting out a system of bookkeeping for woolen warehousemen, the writer has endeavored to combine simplicity with efficiency; but there must necessarily be a good deal of detail work in a business of this kind, although most of it is of such a mechanical nature that it can be managed by a small boy at a few shillings a week.” The chapters composing the book deal with (1) warehouse books, (2) counting house books, and (3) occasional books for statistics. All forms of accounts and books incidental to this class of accounts are given, and the working of each class of them is fully explained.
Vol. XLIV. Brewers' and Bottlers' Accounts, by Herbert Lanham, A. C. A. The book deals with all forms of accounts and books, as well as statistical books. The latter, in brewery accounts, is a very useful check. All the technicalities incidental to this class of accounts are gone into fully. The appendix, which gives the Licensing Act of 1904, is peculiar to England.
Vol. XLV. Urban District Councils' Accounts, by Fred S. Eckersley. The book is a practical manual for municipalities based on the income and expenditure plan. The author claims that the accounts kept on this basis afford far greater facilities for ascertaining the true financial position of the council, than accounts kept on a basis of receipt and payments. It is not only for the use of clerks and accountants, but also for municipal offices. It is based, however, on the English Act of Parliament.
Vol. XLVI. Terminal Cost Accounts, by Andrew Gow Nisbet, C. A. Terminal cost accounts is a term given to that branch of cost accounting which is applicable to undertakings where definite contracts are entered into, in which the costing is definite and terminating, such as: engineers', shipbuilders', builders', and the like. The book is a practical treatise on this branch of cost accounts, written from experience gained in actual practice. Throughout the book the aim of the author has been to describe a system that will work satisfactorily with a minimum of clerical expense.
Vol. XLVII. Single Cost Accounts, by Geo. A. Mitchell, A. S. A. A., F. C. I. S. The author presents in this volume a description of the principles underlying a system of estimating and costing industries, affording readily a basis of measurement, for :
Unit of Calculation. (1) Malting Business
Quarter (2) Engineering Business: Building machines to standardized patterns
.Set of fifty machines (3) Brewery
... Barrel (4) Colliery
Ton of Coal All the standard forms of accounts and books are given. A section is also devoted to showing how cards may be employed with advantage in the businesses referred to, and for account and record keeping generally.
Vol. XLVIII. Process Costs, by H. Stanley Garry, A. C. A. This book deals with the cost systems applicable to chemical industries in which conversion of material takes place, and embodies an explanation and résumé of technical data which cannot fail to be of invaluable service to the student of process accounting.
PART II (Section A-Continued). 21. The American Business and Accounting Encyclopedia. This work is valuable for the definitions and forms it gives as well as for the numerous articles on accounting it contains.
22. Business Magazine, BOUND VOLUMES OF. Especially valuable for the various art les on accounting by eminent accountants.
23. The Accountants' Manual, (English), Volume X, contains answers to questions set at The Institute of Chartered Accountants' Examinations, from December, 1904, to June 1906, both inclusive.
24. The American Accountant's Manual, by Frank Broaker and Richard M. Chapman, contains the first set of New York C. P. A. examination questions on Theory of Accounts, Practical Accounting, Auditing and