Thrush, Virginia

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eGrove (Univ. of Mississippi)

Woman C.P.A. Volume 11 Issue 3 Article 3 4-1949 Coast-to-Coast; New ASWA Members Virginia Thrush Follow this and additional works at: https://egrove.olemiss.edu/wcpa  Part of the Accounting Commons, and the Women's Studies Commons Recommended Citation Thrush, Virginia (1949) "Coast-to-Coast; New ASWA Members," Woman C.P.A.: Vol. 11 : Iss. 3 , Article 3. Available at: https://egrove.olemiss.edu/wcpa/vol11/iss3/3 This Article is brought to you for free and open access by the Archival Digital Accounting Collection at eGrove. It has been accepted for inclusion in Woman C.P.A. by an authorized editor of eGrove. For more information, please contact egrove@olemiss.edu. COAST-TO-COAST NEWSVIRGINIA THRUSH, Toledo, OhioATLANTAPollard Turman spoke before the study course preceding the January meeting on the subject of Contracts. Mr. Turman is assistant to the president of J. M. Tull Metal & Supply Co. Harold W. Moorhouse, professor of economics, University of Georgia, was the dinner meeting speaker. His subject was The Trend of the Federal Budget.CHICAGOMaurice L. Cohen, general insurance broker and representative of the Mutual Life Insurance Company of New York, ad­dressed the society in January on Increased Profit Through Improving Employee Rela­tions. He stressed the need for manage­ment to provide adequate retirement and benefit programs.Careers for Women in Financial Institu­tions was the topic of Genevieve Decker’s talk in February. Miss Decker is vice presi­dent of the First Federal Savings and Loan Association of Chicago.CLEVELANDWhat is Ohio Personal Property Tax? was discussed at the February meeting. Katherine Pfeifer, Margaret Breen, Eleanor Clark and Frances Bogovich, all members of the education committee, led the dis­cussion.COLUMBUSRoger K. Powell, tax attorney, spoke in December on the Income Tax, covering capital gains and losses, an outline of phases of income tax accounting and the history of community tax rights.The February speaker was Harold Schel­linger, public relations director with Byers and Bowman Advertising Agency; his topic, Public Relations Down to Earth.DETROITOver 150 persons attended the January Public Relations meeting, at which Donald M. Russel, CPA, presented his Interpreta­tion of Financial Statements. Mr. Russell stressed the need for making statements comprehensible to the non-accountant.Helpful Hints in Preparation of Federal Tax Returns were presented by John Ray­mond at the February meeting, his third address before the group in three years.INDIANAPOLISMarjorie Dobson, assistant city librarian in Indianapolis, presented several Christ­mas stories at the December meeting. As is their custom, members prepared 200 Christmas packages for the needy.Dr. George Rice, teacher of speech at Butler University, is conducting classes for chapter members in Public Speaking in Business under the sponsorship of the edu­cation committee.Howard Green, vice president of Kingan & Company, spoke on Prices, Profits and Private Enterprise in January.The Fiftieth Anniversary of the Mer­chants’ Association in Indianapolis was the topic of the talk given in February by Mur­ray Morris, manager of the Merchants’ As­sociation in Indianapolis.Ida Broo was responsible for the organ­izing of a new chapter in Louisville. Thir­ty-three members of the local chapter took part in the installation.MUSKEGONPayroll Methods were discussed by Ar­thur W. Potter, manager of the payroll division of Shaw-Walker Corporation, at the February meeting. Various payroll systems were evaluated in the discussion period which followed.R. C. Nichols, with the Daniels Corpora­tion, spoke at the January meeting on Posture and its importance in the preven­tion of fatigue.NEW YORKR. H. Willson, a principal of the account­ing firm of Haskins & Sells, addressed the January meeting on Accounting for Indus­trial Loan Companies.Through the courtesy of Jennie Palen, members attended a meeting of the Sorop­timist Club to hear Dora Lewis tell about her recent trip to Japan.New Horizons in Political Education were presented by Lois Black Hunter in Feb­ruary.SAN FRANCISCOMarjorie Hitch, with the international department of the Bank of America, spoke at the January meeting.Tax Prospects for 1949 was the timely subject covered by Stanley F. Surrey in (Continued on page 9)5Transferring from one page to another.If an account in the old book should be in the credit, you will make an entry for the amount in the debit; and thus you must do with a debtor . . . transfer to the Profit and Loss Account . . . where, summing up at once the debit and credit, you will be able to know your gain or loss. . . . This account must be finally closed and transferred to Capital.119. Paciolo, Treatise, pp. 100-101.11. Paciolo, Treatise, p. 82.Part III“Accounting originated in known cir­cumstances in response to known needs; it has evolved and grown in harmony with its surroundings; its changes can be explained in terms of forces current at the time. Truly, then, accounting is progressive and relative. It came from definite causes; it moves toward a defi­nite destiny.”18Accounting theory and practice have de­veloped slowly and haltingly, but in steady stride with the principles and conduct of business. When business became special­ized, so did accounting. When the deter­mination of profits was no longer a matter of disbursements against income, cost ac­counting was evolved, and such abstract expenses as depreciation and amortization were considered. The problem of apportion­ing costs to the fiscal period was met with accruals and deferrals.When the growing complicacy of business demanded more of the bookkeeper than a knowledge of arithmetic and ability to write, the responsibility of keeping the accounts could no longer be allocated to the slaves or agents, and accounting stepped forward as a professional field of endeavor. Textbooks were printed in rapid succession, “and again the university seriously under­took instruction in a subject which had fallen into academic disrepute.”19 The Chartered Accountant appeared, and the bookkeeper was no longer depicted as a grey-haired bespectacled dullard.The widespread adaptability of books of accounts introduced the aspect of commer­cialization in the field of accounting. The merchant of Venice ruled and columnized blank sheets of paper for his Journal and Ledger;20 the modern printer furnishes ruled forms with standard headings in the columns. The early Venetian carried his ledger accounts forward to the page follow­ing “immediately after all the others”;21 loose-leaf practices have provided a clari­fying sequence of accounts and opened the door for such present-day companies as Reynolds & Reynolds, Inc., which furnish printed journal and ledger sheets in a count­less number of sizes and types. The Memo­randum served in 1944 as a means ofClosing Entries.The closing entries . . . summarize in the in­come summary account the income, costs, and expenses for the period. By means of these entries, also, the net income (or net loss) is transferred from the income summary account to the proprietor’s personal account, and the balance of the latter account may be closed into the capital account.1210. Noble, Principles, p. 72.12. Noble, Principles, p, 245.greater efficiency and accuracy;22 account­ing offices today are equipped with adding machines and typewriters for the same pur­pose. The pen-and-ink bookkeeper of antiq­uity would be astounded by the almost human nature of the International Business Machine, and his efforts would indeed ap­pear feeble in comparison.18. Littleton. Accounting, p. 362-19. Littleton. Accounting, p. 9.20. Brown, The History, p. 114.21. Paciolo, Treatise, p. 83.22. Paciolo, Treatise, p. 14.COAST-TO-COAST(Continued from page 5)February. A professor of taxes at the Uni­versity of California, Mr. Surrey is now at work on a project of the American Law Institute to redraft the Federal income tax law.SPOKANEMembers submitted questions at the Feb­ruary meeting for discussion at the March meeting, at which the speaker was Mary Cooper and the subject Mining Legislation and Taxes.TOLEDOThe chapter discussed the proposed Equal Rights Amendment at the January meet­ing. Anne Long for the affirmative and Rachel Cooper for the negative led the dis­cussion.Mrs. Keith Conrad spoke in February on The Philippines, where she spent consider­able time with the Red Cross during the war.A discussion of Internal Control high­lighted the March meeting. The four excel­lent talks on the subject given at the Chi­cago annual meeting provided the material.NEW ASWA MEMBERSASWA chapters welcome: Atlanta — Marie G. White, Bessie T. Shaw, Mary C. Cleland, Lurline M. Everitt, Mary Kate Johnson, Martha Hyde. Chicago—Mary Meek, Elise Mathieu. Columbus—Catherine Yount. Detroit—Loreice E. Lufty, Anna Romanzin. San Francisco—Marilyn M. Davis. Spokane—Elizabeth Cummer.9

Coast-to-Coast; New ASWA Members

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Coast-to-Coast; New ASWA Members

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