O G v . A . C . A. BL i, > < E—M [ N Th i s b u l l e t i n is pu b l i s h e d semi-monthly b y t h e F F 1 0 E OF THE q� SECRETARY N a t i o n a l Association of Cos t Accountants, 1790 B r o y , N e w Yo r k ,790 B r o a d w a y New Y o r k q ns—Section III IcJI9'SyC-

VOL XIV, NO. 6 iNfC;iI MBER 15.1932

CURRENT COST LITERATURE Our Cost Literature Bulletins, which are issued on the fifteenth of each month, contain all the available references to cost articles and cost material published for the most part during the past month. Many of these references are obtained from the Engineering Index Service. The references are classified according to industries and topics. It is to be hoped that this arrangement will make them more useful to our members, and facilitate preserving. them for future references. Addresses of publications referred to in this issue will be found on page 508. Arrangements have been made with The Engineering Societies Library whereby that library will usually supply photostatic copies (white printing on black back- ground) of any of the articles listed herein. The price of each print, up to 11 by 14 inches in size, is 25 cents plus postage. A separate print is required for each of the larger periodicals, but whenever possible, two pages will be photographed together on the same print. To avoid misunderstanding as to charges, orders for prints should not ordinarily be placed until special inquiry as to the total number of pages has been made. When ordering prints, identify the article by quoting from the Bulletin item the following : (1) Title of article, (2) name of periodical in which it appeared, (3) date of publication of periodical, and (4) page numbers. Orders should be sent to Engineering Societies Library, 29 West 39th Street, , N. Y. If desired, a member may usually secure a copy of any of the magazines referred to by ordering direct from the publisher. Photostats of starred ( *) articles cannot be provided.

ACCOUNTANCY *Accountants' Encylopedia, The. New York. McGraw -Hill Book Co., Inc., 1932. 4 vol. *Carter, Arthur H. Some Problems of the Last Three Years. The Certified Public Accountant. October, 1932, pp. 587 -92. Address delivered at the Annual Meeting of The American Society of Certified Public Accountants, Indianapolis, , 1932. ADVERTISING *Caples, John. Tested Advertising Methods. New York. Harper & Brothers. 1932. 276 pp. AGRICULTURE *Bennett, M. K. Farm Cost Studies in Ahe United States: Their Development, Appli- cations, and Limitations. Food Research Institute. June, 1928. 289 pp. *Maekerrell, J. A. Farm Cost ,Accounts for Local Authorities. The Cost Accountant. August, 1932, pp. 69 -70. AIRPLANES Riseling, R. F. Air Transportation, Organization and Accounting. Journal of Ac- countancy. August, 1932, pp. 90 -115. 503 • THIS PEG -BOARD WILL GIVE YOU

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Accountants in many fields of busi- saved about / on the cost of payroll ness are turning to our Distribution distribution by using our system . . Peg -Board Method, used with the and accomplished more work. An Comptometer, for better results on office outfitter in the South made a sales analyses, cost figures, time -keep- saving of $5,000 annually, part of ing routines and other types of ac. which was in clerical help. counting work. The reasons are: More complete figures! With less Quicker figures! The Distribution expenditure in time and money, more Peg -Board produces information when information may be gathered. Using it is wanted . in time for quick the Comptometer Peg -Board combina. action. A nationally known instru. tion, a branch factory of a stationery ment company in New York formerly company now furnishes its headquart. waited until the 15th or 20th of each ers with weekly statistics . impos. month for cost and sales figures of sible under former methods, except the previous month. Now they get at great inconvenience and expense. necessary statistics daily. A Southern California baking company reports Let our representative describe the that the Distribution Peg -Board gives Comptometer and Distribution Peg. them figures on production and distri- Board Method in detail. Let him tell bution, costs and inventories, and other you how it achieves speed and econo. information, in 50% less time than my by getting final results from origi. their former method. nal figures without recopying. If h e thinks he can show you worth -while Cheaper figures! The Distribution savings, give him a chance to prove it Peg -Board Method has successfully re- by actual test. Telephone your local placed more expensive systems in com- Comptometer office, or write direct panies throughout the country. A to us. Felt & Tarrant Mfg. Co, 1715 large Middle- Western glass company N. Paulina Street, , .

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COMPTOMETER A C CU R AC Y (TRADE MARK) *Higgins, John W. Fine Arts in Mass Production. Harvard Business Review. July, 1932, pp. 399 -410. AUTOMOBILES *Cope, J A. foundry Costing for the Motor Industry. The Cost Accountant October, 1932, pp. 119 -26. Ferrington, G. H. Budget Cuts Tool Costs. American Machinist. Sept. 14, 1932, pp. 989 -93. BANKS AND BANKING *Osterweis, Steven L. Security Affiliates and Security Operations of Commercial Banks. Harvard Business Review. October, 1932, pp. 124 -32. ARTS *Pike, A. W. The Double- Liability Aspect of Bank Stocks. Harvard Business Re- view. July, 1932, pp. 516 -23. BRANCHES *Parker, Graham W. American Branch Plants Meet European Competition. Factory and Industrial Management. September and October, 1932. CALENDAR REFORM *Thibault, David. Cotton and Calendars. Journal of Calendar Reform. September, 1932, pp. 82 -4. Written from the viewpoint of a cotton grower. CERAMIC PLANTS Ziechert,-.E.• Herstellung and Kalkulation grosser Terrakottaware. Keramische Rundschad, July 28, 1932, pp. 390 -2. CHAIN STORES *United States Federal Trade Commission. Cooperative Drug and Hardware Chains. Senate Document 82, 72nd Congress, 1st Session. Discussiop of methods of distribution now being employed to meet the competition of centrally owned' chains. *United States Federal Trade Commission. Growth and Development of Chain Stores. Senate Document 100, 72nd Congress, 1st Session. Analysis of growth and development of chain stores in 26 kinds of business; record of store openings, store acquisitions and store closings. COST ACCOUNTING Gehlen, .K. Eine uebersichtliche Rohbilana bei Kursfristiger Erfolgsrechnung. Maschinenbau. , 1932, pp. 353 -8. Facilitating control of manufacturing enterprises by suitable arrangement of various cost items on balance sheet illustrated by numerical example; static and dynamic balance theory. Rummel; K. Die Dostenfunktion. Archiv fuer das Eisenhuettenwesen. September, 1932, pp. 125 -7. Function of costs; advantages of mathematical study of costs; "fixed" and "pro- portional" costs. COTTON Cotton growing, see Calendar Reform. *Lincoln, Jonathan T. The Cotton Textile Machine Industry. Harvard Business Review. October, 1932, pp. 88 -96. DEPARTMENT STORES *Expense Distribution Manual. Controllers' Congress. 1932. Manual including charts and work sheet. Adopted by the Controllers' Congress, National Retail Dry Goods Association. June 15, 1932. DEPRECIATION *Linsey, Bertram C. Treatment of Depreciation Reserves on the Balance Sheet. The American Accountant. October, pp. 299 -302. Deduction of reserves from asset amounts criticized. Bearing on ratios. 504 THESE FOLDERS ARE HELPING EFFECT NEW ACCOUNTING ECONOMIES

Burroughs offers to send, without charge, any or all of the folders listed below. Accountants will find them helpful in devising methods to meet present conditions, and in reducing accounting costs through the new machine operations described.

DISTRIBUTION PURCHASE AND PAYMENT

Pu rch as es , Statistical, Sales . Ex - R em ittan ce Ad vice. Dep artm en • 4 1 pense, Lab or, Materials . 10 tal Pu rchas e Record . Register of Ap proved In vo ices t»s ted in 2 Sales or Purchases —Cost an d one operation. Selling Price b y Departments. 11 Ma tu r it y Reco rd , Departmental Sales, Lab o r, Material, Expense P u r c h a s e R e c o r d . B u i lt - u p 3 to Unit Accounts. V o u c h e r . A u d i t e d I n v o i c e Regis ter. Check- an d Ch eck Listing, Classifying and To talin g Register. Tw o o r mo re relaters 4 Amounts in one run. records written in one operation.

Consolidating a n d P o s t i n g 12 R em it tan ce Ad vice. Pu rchas e 5 B r a n c h H o u s e E x p e n s e a n d Distribution L e d g e r a n d General Ledgers. Vo ucher Register po s ted . an d Co ntrols established in one op eration . STORES RECORDS PAYROLL 6 Requisition extended and Led ger posted in one operation. Pay C h eck (or Pay En velop e), 13 Em p lo yee's Stat em e n t, Pay ro ll 7 (1) Daily Balan ces of Sto res on Sh eet an d In d iv id u al Earn in gs Han d , Availab le an d Reserved Record —in on e op eratio n . (2) a Perp e tu al In ven to ry of Quantity and Value. Payroll Sheet, Pay C h ec k, W age 14 Card in one operation. Am o un ts 8 Prod uction Co n tro l Reco rd s : electrically co m p u ted a t tim e Daily Co n tro l of Orders in Pro - of writin g. cess, Sto ck Reco rd an d Sales Distribution as By- products. Ex tend in g Tim e Tickets an d 15 posting Earn in gs Record in on e op eratio n . GENERAL ACCOUNTING Em p lo y ee's Tim e Sh eet calcu- Combining all types of accounting 16 lated an d Un it Po s tin g Med ia 9 for the small manufacturer. created in one operation. Burroughs

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Street...... City ...... FINANCIAL STATEMENTS *Donaldson William R. Understanding and Interpreting the Balance .Sheet. The American Silk and Rayon Journal. October, 1932. FOREIGN See Branches — Parker, G. W. *Pecker, Boris. The Soz4et Accounting and Credit System. Harvard Business Re- view. October, 1932. pp. 14 -22. FOREMAN TRAINING *Dutton, H. P. A Foreman- Training Plan. Factory and Industrial Management. October, 1932. 3 pp. FURNITURE Frederick, H. J Distributing Departmental Burden in Finishing. Furniture Manu- facturer. October, 1932, pp. 36 -7 and 41 -2. Methods and processes in relation to cost accounting; analysis of operations and time required for each step as indicated. GOVERNMENT *Barnes, Julius H. Government and Business. Harvard Business Review. July, 1932. pp. 411 -19. INDUSTRIAL MANAGEMENT Livingston, R. T. Control of Operating Expenses. Mechanical Engineering. October, 1932, pp. 711 -17. Costs mathematically analyzed; application of statistical methods to engineering problems: use of unit -cost curves as managerial guide. INSURANCE See Unemployment. INVENTORY CONTROL *Dawson. R. Inventory Control. Cost and Management. October, 1932, pp. 306 -14. LABOR— INCENTIVES Lowry, S. M. Wage Incentives for Smaller Industries. Factory and Industrial Man- agement. September and October, 1932. *Shaver, John W. Give the Worker a Break and Make a Profit. Factory and Industrial Management. October, 1932, pp. 373 -5. Incentive and bonus system as employed by the India Tire and Rubber Company. LABOR —WAGES *Rositzke, R. H. Why Cut Wagesf Factory and Industrial Management. October, 1932. Survey made in a textile mill. *Forbes, Charles S. Present Status of Workmen's Compensation. Industry. , 1932. LAW *Masters, Martin J. Accounting for Law Offices. Pathfinder Service Bulletin. August, 1932. MACHINE SHOPS Entztricklung der Kalkulationsunterlagen fuer Maschinen-Feiiarbeiten. Maschinenbau. July 7, 1932, pp. 281-3. Development for basis of cost calculation for filing machine work; classification of files according to output. MANAGEMENT *Hathaway, King. Applied Scientific Management. Bulletin of the Taylor Society. October, 1932. First of a series of six or eight articles on this subject by a consulting engineer of New York City. SOS f 1 1 1 f I IN F V �

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MONROE CALCULATING MACHINE COMPANY, INC. ORANGE, NEW JERSEY UNEMPLOYMENT *The Unemployment. Insurance Library. Industrial Relations Counselors, Inc., New York. 1932. 4 Vol., 293 pp. 56 Charts, 311 tables. Vol. I. Unemployment Benefits in the U. S.; Vol. I1, in Great Britain; Vol. III, in Switzerland; Vol. IV, in Belgium.

ADDRESSES OF PUBLICATIONS LISTED American Accountant, 225 Broadway, New York, N. Y. American City, 470 Fourth Ave., New York, N. Y. American Machinist, 330 West 42nd St., New York, N. Y. American Silk and Rayon Journal, 34 No. Crystal St., E. Stroudsburg, Pa. Archiv fuer das Eisenhuettenwesen, Duesseldorf, Germany. Certified Public Accountant, National Press Building, Washington, D. C. Colliery Engineer, 330 West 42nd St., New York, N. Y. Controllers' Congress, 225 West 34th St., New York, N. Y. Cost Accountant, 6 Duke St., St. James, London S. W. 1, England. Cost and Management, 81 Victoria St., Toronto (Ont.), Canada. Factory and Industrial Management, 330 West 42nd St., New York, N. Y. Farben- Zeitung Krausenstrausse 35 -36, Berlin S. W. 19, Germany. Food Research Institute, Stanford University, California. Furniture Manufacturer, Periodicals Publishing Co., Division Ave. North, Grand Rapids, Mich. Harper & Brothers, 49 East 33rd St., New York, N. Y. Harvard Business Review, Morgan Hall, Soldiers Field Station, , Mass. Industrial Relations Counselors, Inc., 165 Broadway, New York, N. Y. Industry. 950 Park Square Bldg„ Boston, Mass. Journal of Accountancy, 135 Cedar St., New York, N. Y. Journal of Calendar Reform, 485 Madison Ave., New York, N. Y. Keramische Rundschau, Berlin Germany. McGraw Hill Co., 330 West 42nd St., New York, N. Y. Management Review, 20 Vesey St., New York, N. Y. Maschinenbau, Berlin, Germany. Mechanical Engineering, 29 West 39th St., New York, N. Y. Mining Journal, 306 Home Builders' Bldg., Phoenix, Ariz. Pathfinder Service Bulletin, 330 No. Los Angeles, St., Los Angeles, Calif. Power Wagon, 536 Lake Shore Drive, Chicago, Ill. Pitman. Isaac, & Sons, Ltd., 2 Wesj 45th St., New York, N. Y. Profit. 330 No. Los Angeles St., Los Angeles, Calif. Railway Age, 30 Church St., New York, N. Y. Taylor Society, Bulletin of, 29 West 39th St., New York, N. Y. Technique Moderne, 92 Rue Bonaparte, Paris 6, France. United States Federal Trade Commission, Washington, D. C. United Typothetae, 14 and K. Sts., N. W. Washington, D. C. Werkstattstechnik, Berlin, Germany.

508 Powers Mechanical Verification

The Powers Verifying Attachment may be furnished with any Powers Automatic Punch. Its installation doubles the utility of the Punch. It does not retard or disturb the usual punching function —and gives to the operator the facilities to punch or mechanically verify orig- inal punchings at will. Both—on the same machine. Where manual inspection of cards for error is impractical, due to volume, the Powers Automatic Verifying Machine is recommended. This checking mechanism senses with positive mechanical precision all errors, as "verify- punched" cards pass through at the rate of 200 per minute. The device may be used with any type of Powers cards —per- mits verification of any or all card columns, including control hole punchings. Powers Bulletins G -3 and G -4 describe these developments in full. We will gladly send copies —or a Powers representative who will discuss their advantages applied specifically to your own Punched Card Account- ing procedure. POWERS ACCOUNTING MACHINES

DIVISION OF R A N D . I N C . Alphabetical Powers BUFFALO. N. Y. Prints names and words as well as figures PURCHASING *Purchasing Power. Bulletin of the Taylor Society. October, 1932, pp. 162 -93. Four articles on population changes and consumption; American consumer market; purchasing power and wage policy; and under - consumption. RAILROADS *Gullet, John S. The Pneumakic Rail Car. Harvard Business Review. July, 1932, pp. 494 -504. *Meriam, Richard S. Discriminating Rates. Harvard Business Review. July, 1932, pp. 453 -60. Norfolk & Western Cuts Corners in Stores Work. Railway Age , 1932, pp. 4024. Simplified stockbooks facilitate economical stock control; centralized accounting and motorized handling; inactive materials centralized; special -type stock book. *Skerrett, R. G. Economic Significance of the Tank Car. Harvard Business Review. July, 1932. pp. 461 -70. *Splawn, Walter M. W. Legal Aspects of the Proposed Regulation of the Railroad Holding Company. Harvard Business Review. July, 1932, pp. 471 -81. RATIOS *FitzPatrick, Paul J. A Comparison of the Ratios of Successful Industrial Enter- prises with Those of Failed Companies. The Certified Public Accountant. October, 1932, pp. 598 -605. *Halbrooks, William M. Standard Financial Ratios— Today's Guide Posts of Busi- ness. Management Methods. October, 1932, pp. 564 -5. First of a series of articles on this "comparatively new tool of management." REFUSE DISPOSAL Eddy, H. P. Why Not Make Garbage Collection and Disposal Self- Sustaininyr American City. October, 1932, pp. 52 -3. Tentative project for working out suggestion so as to entitle refuse - disposal service to loans by Reconstruction Finance Corporation. RETAIL TRADE See Department Stores. RUBBER *Fazakerley, Thomas W. Cott Accounts in Rubber and Plastic Trades. New York. Isaac Pitman & Sons, Ltd. 1932. 84 pp. See Labor — Incentives — Shaver, J. W. SHIPPING *Manuel, John S. Jr., and William L. International Cooperation Solution of the Ship - ping Problem. Harvard Business Review. July, 1932, pp. 524 -32. SHOES *Shannon, G. C. Shoe Manufacturing Industry. The Journal of Accountancy. October, 1932, pp. 252 -86. STOCKS *Accounting for a Stock Brokerage House. The American Accountant. October, 1932, pp. 307 -11. *Siegel, Seymour N. Stock Dividends. Harvard Business Review. October, 1932, pp. 76-87. TEXTILES See Labor — Wages, Rositzke, R. H. TRUCKING Hutchinson, W. Trucking Costs. Power Wagon. September, 1932, pp. 424. Simple cost record forms that facilitate accurate compilation of vehicle costs. Rasmussen, C. F. Short Route Costs. Power Wagon. September, 1932, pp. 32 -5. Ascertaining accurate costs on gas trucks in short route service; variation in cost of gasoline with miles per day; variation in cost of chassis repairs with truck age. - 507 Are You a Recent Member of the N. A. C. A. ?

WOULD YOU LIKE TO SECURE COPIES OF THE EARLY YEAR BOOKS AT A SPECIAL PRICE?

National Headquarters has available a small supply of the Year Books of 1924 to 1929 which can be purchased at $1.00 each

Descriptive circulars will be sent on request

Address N. A. C. A. 1790 Broadway, New York MINING AND METALLURGY Balliet, L. Cost for Handling Low -Grade Gold Ores. Mining Journal. Septemne, 30, 1932, pp. 3 -4. Rules for determining lowest grade of gold ore which can be handled profitably; paper refers only to financed mines, not to gophering, pocket hunting, or surface placer mines. Charlton, W. J. Machine Mining and Safety. Colliery Engineer. August, 1932, pp. 280 -1. Review of some factors in mechanized mining, with example of methods of working longwall machine face in Lancashire Brassey seam; importance of skilled supervision stressed. MORTUARIES *Kamph. Harry N. Accounting for Mortuaries Pathfinder Service Bulletin. Sep- tember, 1932. Article based on series which currently appeared in Mortuary Management. MOTION PICTURES *Beach. Edward R. Double Features in Motion - picture Exhibition. Harvard Busi- ness Review. July, 1932, pp. 505 -15. *Kaplan, Alfred. Cost Control in Production of Animated Cartoons. The American :Accountant. October, 1932, pp. 295 -8. Treatment of distinctive problems arising when artistic production prevents standardization. OFFICE EQUIPMENT *Jacob, J. La selection daps les appareils transporteurs. Technique Moderne. August 1, 1932, pp. 492 -6. OVERHEAD *Lichtenecker. K. Ueber das Gleichgewicht Raeumlich and Zeitlich Bedingter Un- kosten. Werkstattstechnik. , 1932, pp. 355 -7. Formulation of factors controlling equilibrium of cost items depending on space and time. PAINT AND VARNISH Beenken, H. Dos Kostenproblem in der Lackindustrie. Farben -Ztg. August 27, 1932, pp. 1635 -7. Problem of costs in varnish and lacquer industry: production losses, heating and power, wear of equipment, wages, maintenance and repair, cost of management, taxes, interest, etc. PEANUTS *United States Federal Trade Commission. Price and Competition Among Peanut Mills. Senate Document 132, 72nd Congress, 1st Session. A report of the inquiry relative to an alleged price -fixing combination. PRINTING *Koch, Elmer J. Cost Finding for Printers. United Typothetae of America. 127 pp. 8 x 11 in. PRODUCTION CONTROL *Toner, James V. Budgetary Control of Direct and Indirect Production Expenses. The Management Review. October, 1932, pp. 291 -98. PROFITS *Pink, Robert R. Guaranteeing Profits by Financial Control. Profit. August, 1932. PUBLIC UTILITIES *Paton, W. A. Working Capital in a Public Utility Regulation. The Journal of Accountancy. October, 1932, pp. -787 -99. Buses, see Railroads, Norton & Western, etc. PAPER AND PULP *Frame, Stanley T. Planning for the Newsprint Indnstry. Harvard Business Review. July, 1932, pp. 441 -52. 506