BY WESLEY JAMES MCCARTY, A.M. " PROFESSOR OF ACCOUNTING, BOSTON UNIVERSITY COLLEGE OF BUSINESS ADMINISTRATION; KNOWLEDGE PRENTICE-HALL ING NEW YORK PRENTICE-HALL, INC. COPYRIGHT, 1925, BY HF5635 PRINTED IN THE UNITED STATES OF AMERICA PREFACE This book has been prepared in response to the call from instructors in colleges where accounting subjects are taught, from students who are members of educational institutions, or who are connected with industrial enterprises, and from business and professional men who want a text wherein a very considerable attention is given, from its beginning, to the elucidation of the broader meaning of accounting in its relation to business, and its principles and practice. It is contended, in respect to the presentation of accounting, that nothing should be presented to the student that is not understandable, and that each step taken should be in the direction of progress. This is made possible, less difficult to-day, since business is generally recognized as a series of more or less closely related business occurrences, or transactions, which may be considered in the nature of problems. These occurrences, when presented in narrative or story form, furnish excellent material for demonstration and for practice in the following: Analyzing the situation, determining the values involved, the accounting treatment necessary, the selection of appropriate records for expediency and for permanency, and the effect, finally, upon the worth of the enterprise concerned. An introduction to accounting, or a first year's course in accounting, it would seem, should develop comprehension and ability to do, of this breadth, in the average student. The material in this text will be found to be sufficient for a college year's work, and is presented in twenty-five chapters. The chapter content.-The content of the chapter, as a rule, embraces a brief presentation and discussion of the principles of accounting, as they apply to the situation which is made the subject of the chapter; a demonstration of the application of the principles of accounting in obtaining a correct solution; a review of the procedure ("comments," included in the first seven chapters, and at appropriate times, in later 607029 |