� e N.A,.C,,,,A,, B U L L E T t i r N -' I 1 � s'� 'i R i Gaon o. j � 1956M a y �(�ll,l!.'p fr�A� , Section 2

In the News

Progress on Research Program 1 155

Five Regional Conferences Set for Year 1956 -57 1 157

Charter Ceremonies Make South Florida "Chapter No. 128" 1 159

Philadelphia Regional Successful April Event 1 163

Technical Program -37th Annual International Cost Conference 1 164

News Notes 1166

In the Public Eye 1 161

Congratulations To 1 167

Chapter Meetings 1169

Chapter Competition

1175 N.A.C.A. BULLETIN Volume XXXV1I, Number 9

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Published by NATIONAL ASSOCIATION OF COST ACCOUNTANTS 5 0 5 PARK AVENUE, 2 2 , N. Y.

BULLETIN BOARD COMPASS POINTS OF N.A.C.A. PROGRESS

-9 0 i " - N.A.C.A. members are going in large numbers to Chicago June 24- 27 to enjoy the Annual Cost Conference technical events and program at the Conrad Hilton Hotel. For details see direct mailings, program on pages 1164 and 1165 of this section, and also descriptive material on the back v� � co� ver.

./ ![Olvj. q — M o r e and more about practice and problems in important areas of the field of industrial accounting is becoming general knowledge because of N.A.C.A. Research activities, now an influence of many years' standing. This is highlighted by recent decisions of the National Board of Directors respecting conduct of research and publication of its results (see page 1155 of this section) . yit0.[ Jl q — N o t only are individual chapters increasing N.A.C.A. member- ship in each chapter territory but, each year, the number of chapters con- tinues to increase, representing new territories into which N.A.C.A. activ- ities are introduced. Latest arrival is Southern Florida chapter headquartered at�Miami�—first�in�the�state.�For�announcement�see�page�1159�of�this�section.

310 w , l w —Time does that and, before we know it, a new Association year will be under way with its many events. A principal one of these is the 1956�-57�program�of�regional�conferences�—five�in�number�—given�early�an- nouncement on page 1157 of this section. GO,�KNOW,�GROW�—WITH�N.A.C.A.

This Balletic is published monthly by the National Association of Cost Accountants, 505 Park Ave.. New York 22, N. Y. Subscription price, $10 per year. Reentered as second-class matter September 22, 1949, at the Post Office, New York, N. Y., under the Act of March 3, 1879. N.A.C.A. BULLETIN, Vol. XXXVII, No. 9, May, 1956 COPYRIGHT 1956 BY THE NATIONAL ASSOCIATION OF COST ACCOUNTANTS Progress on.Research Program

HE LAST ANNUAL report of the Asso- RESEARCH OBJECTIVES Tciation (N.A.C.A. Bulletin, Section The committee expressed the opinion 3, November 1955) presented a plan that research reports have been excellent designed to strengthen the Association's and that they have had a significant influ- position of leadership in managerial ac- ence on industrial accounting practice. counting research. Development and im- At the same time, the effectiveness of plementation of this plan has gone stead- N.A.C.A.'s research program can be im- ily forward during the current year. proved and the prestige and influence of Among the principal aspects of the plan research reports broadened in the future. were initiation of a long -term research The committee stated that N.A.C.A. program to replace the annual program research should provide leadership for previously followed, some expansion of continuing evolutionary development of research activities, and provision for fi- industrial accounting thinking and prac- nancing research from the income from tice, and encourage wider adoption of the a segregated part of the investment fund best practices. To achieve these objectives, rather than from members' dues. At the research reports should go beyond report- same time the National Board of Direc- ing of practice, but should not include tors authorized the President to appoint pronouncements of acceptable practice. two special committees, one to review re- By continuing to describe the best indus- search objectives and organization and trial accounting practices, the reasons for the other to consider distribution of re- them, and the uses they are intended to search reports. Recommendations pre- serve, wider adoption of these practices sented by these committees are sum- can be encouraged without limiting in- marized here for the information of ternal accounting practices of individual members. companies. Research reports should con- tinue to be based on careful study of Research Objectives and practice collected through field interviews Organization or of possible alternatives where practice is not established. Generalizations and Early in the year President Israel ap- appraisals contained in reports should be pointed the following members to con- accompanied by a full statement of sup- stitute a special committee on Research porting reasons. The committee recom- Objectives and Organization: I. Wayne mended that in the future some staff Keller, Chairman; William T. Brunot, time be devoted to investigations of a Palmer W. Hancock, John B. Inglis, basic nature and that more attention be George J. Wachholz. The committee pre- devoted to new problems before practice sented the following recommendations. becomes fully established.

MAY, 1956 1155 COMMITTEE ORGANIZATION the term of their respective projects. When the Committee on Research was Functions of a project committee would established 1 0 years ago, it was given be ( 1 ) to advise the Research Staff two functions: ( 1 ) to make recommenda- during the course of the study, (2) to tions to the National Board on research review draft reports and (3) to determine policies, practices, and projects and (2) when a report is ready for publication. to advise with the Staff on research pro- RESEARCH STAFF jects, to review draft reports, . and to de- The Committee recommended that the termine when reports are ready for National Secretary be authorized to desig- publication. nate a member of the Research Staff as Separation of these functions was re- Manager of Research to be responsible commended by the Special Committee, for conduct of all staff research work. with appointment of a Research Planning The Manager of Research will report Committee to supply overall direction administratively to the Secretary and to the research program and, in addition, functionally to the Research Planning separate project committees for each re- Committee, and he will serve as Secretary search project. Final decision on research to each of the several Project Com- projects to be undertaken and publication mittees. of reports remain with the National Board or with the Executive Committee AREAS FOR STUDY acting for the Board. Following acceptance of the above rec- To give continuity to the research ommendations, the National Board asked program, it was recommended that the the Special Committee to function as the planning committee be composed of six research planning committee during the members, with two members appointed remainder of the current association year. each year for three year terms. Functions Acting in this capacity, the Committee of this committee would be (1) to main- has considered new topics for study and tain continuing review of research objec- has referred these topics to the Staff for tives, policies, and practices; (2) to preliminary investigation. In the near recommend research projects; (3) to future, the Committee expects to recom- supervise commitment and expenditure mend new projects to be undertaken and, of funds available for research; (4) to in addition, to develop plans for a longer advise the National Board regarding range program of studies. distribution of research reports; and (5 ) to advise the President on appointment Distribution of Research Reports of research project committees. All of A special committee was also appointed these functions would be exercised sub- by the National President to review the ject to approval of the National Board. Association's policy with respect to issue Project committees would serve during (Continued on page 1160)

1156 N.A.C.A. BULLETIN Five Regional Conferences Set for Year 1956 -57 IRST REGIONAL conference of th e ne w T h e second regional has been sched- F Association year, it wa s announced by uled to take place at Charlotte, N o r t h the National Board, will be held October Carolina, Nov emb er, 1 -3. Its site will be 11 -13 in Rochester, N e w York , at the the Hot el Cha rlotte. Oth er regionals as they occur will be he ld at: San Anto nio, Hotel Seneca. T his will be followed by Texas, December 6 -8, Gu nter Hotel; St. four other regionals, which in the course Louis, Mo., March 7 -9, 1957, Hotel Stat- of the year will provide a n aggregate ler; a nd Milwa uk ee, Ma rch 14 -16, 1957, total 75 N.A.C.A. cha pters with an of Hotel Schroeder. opportunity for regional conference par- A list of all chapters scheduled to par- ticipation. More than 18,000 active mem- ticipate in the five regionals will be found bers are represented in these cha pters. in the box which appears below.

CHAPTERS PARTICIPATING IN REGIONAL CONFERENCES

Rochester Charlotte San Antonio St. Louis Milwaukee Akron Atlanta Baton Rouge Cincinnati Ann Arbor Albany Birmingham Dallas Dayton Calumet Binghamton Chattahoochee Fort Worth Des Moines Chicago Buffalo Valley Houston Evansville Cedar Rapids Cleveland Chattanooga Jackson Indianapolis Fort Wayne Elmira Area Columbia Mobile Kansas City Fox River Erie Coosa Valley New Orleans Louisville Valley Jamestown East Tennessee Sabine Memphis Grand Rapids Mohawk Valley Hampton Roads Shreveport Nashville Kalamazoo Pittsburgh Knoxville Oklahoma City Lake Superior Scranton North Alabama Omaha Lansing Syracuse Piedmont Peoria Muskegon Williamsport Richmond Sangamon No. Wisconsin Youngstown Western Valley Racine- Kenosha Carolinas Tulsa Rockford Wabash Valley South Bend Wichita Tri- Cities Twin Cities Waterloo

MAY, 1 9 5 6 11 5 7 Past National President Eric A. Camman Dies

EMBERS of the Association will regret M to learn of the death of Past Na- tional President, Eric A. Camman, who died at his home in New York City on April 3, 1956 at the age of 65. He had been an ardent participant in activities of the Association for a great many years. He had served as President of the New York Chapter, 1927 -28; as a member of the National Board of Directors, 1930- 33; as Vice President, 1933 -34 and as President, 1934 -35. He had addressed a great many chap- ters on his favorite subject of standard costs. As an author, Mr. Camman was known not only for his book Basic Stand- ard Costa,published in 1932 and used as an accounting textbook and reference work for accounting courses in many col-

leges, but also as co- author —with Mau- ERIC A. CAMMAN rice E. Peloubet —of the booklet "Ex- planation of Principles for Determination Formerly a general partner of Peat, of Costs Under Government Contracts," Marwick, Mitchell & Co., in New York, published by the Government Printing Mr. Camman, for the last several years, Office in 1942. He also wrote many had his own office as Certified Public Ac- articles and technical manuscripts on ac- countant and Management Consultant. counting and management subjects. Recently Mr. Camman received public During World War II he served as a recognition through a citation by former dollar -a -year man as Chief of the Ac- President Herbert Hoover presented in counting Advisory Branch of the War appreciation of the work Mr. Camman Production Board from February, 1941 did as consultant to the task force on to August, 1943, and as special consult- Budget and Accounting in the Federal ant to the Navy Bureau of Supplies and Government, with the Committee on Or- Accounts in 1943. He was also a member ganization of the Federal Branch of the of the Advisory Panel, Comptroller of the Government known as the "Second Army, in 1949. Hoover Committee." 1158 N.A.C.A. BULLETIN Charter Ceremonies Make South Florida "Chapter No. 128" OUTH FLORIDA Chapter, N.A.C.A.'s PHELAN, Neff Machinery Co., Miami; S first in the State of Florida, was inau- Membership, W. M. STOCKDELL, JR., gurated in Miami on Friday evening, The McBee Co., Miami; Program, ROB- March 23, at a dinner and business meet- ERT H. HOSKEN, JR., Morris & Peeples, ing attended by National President Charles CPA, Coral Gables; Publications, JAMES R. Israel, who presented the Charter, and H. TURNER, Industrial Securities Co., National Secretary Arthur B. Gunnarson, Miami; Publicity, ARTHUR M. SELLS,

E. CARL BECKER (Cen- ter) newly - elected Pres- Ident of South Florida Chapter, is presented here with the Charter which made his chapter the newest addition to the N.A.C.A. family. Flanking Mr. Becker are (I) National President Charles R. Israel, pre- senting the Charter, and Arthur B. Gunnar - son, National Secre- tary. On the organizing committee for South Florida Chapter, Mr. Becker served as Chair- man.

who conducted the election of the chap- Miami; Special Activities, WALTER G. ter's first officers and directors. HOLCOMBE, Miami Window Corp., Elected President of the 128th chapter Miami. An Employment Director has yet on the N.A.C.A. roster was E. CARL to be elected. BECKER, American Screen Products Co., Speaker at the chapter's inauguration Miami. Other chapter officers elected at dinner was Mr. John D. Foskett, Presi- the same time were Vice President BEN - dent of American Screen Products Co., NETT R. BOLEN, City of Hollywood; Miami. South Florida Chapter, which has a Treasurer, GEORGE J. PETRUFF, McDon- charter membership of 105, includes the ald Electric Co., North Miami; and seven counties of Palm Beach, Broward, Secretary, MRS. LOIS W. STEINHOFER, Dade, Monroe, Collier, Lee and Hendry. American Screen Products Co., Miami. Principal cities of these counties are those Newly- elected Directors are: Meetings, of Miami, Key West, Fort Lauderdale, WILLIAM V. TAYLOR, First National Hollywood, Fort Myers, and West Palm Bank, Miami; Member Attendance, O. C. Beach. MAY, 1956 1159 report issued during the term of his RESEARCH (Continued from page 1156) membership; (3) that research reports be and distribution of research reports. available to non - members and additional Members of this committee were Philip copies to members at a list price establish- J. Warner, Chairman, Martin A. Moore, ed by the Secretary; (4) that research and John J. Wrinn. reports be printed and presented for In order to achieve the Association's distribution in a manner conducive to research objectives, this committee con- maximum serviceability, and (5) that cluded that research reports should reach distribution of research reports beyond the widest possible audience of account- membership of the association be encour- ants, executives, and other interested in- aged. dividuals. As a means for accomplishing The first research report to be dis- these aims, the committee recommended tributed under the plan outlined above that ( 1) a digest of each research report will present findings in a study entitled be published in the N.A.C.A. Bulletin "Accounting For Intracompany Trans- to inform members of the scope of the fers." A digest of the report will be study; (2) that a member may, upon published in the June issue of the request, obtain one copy of each research N.A.C.A. Bulletin.

WE REMEMBER

(1955), C.P.A., the Muzak Co., and for- Thomas H. DeJarnette, 53, BIRMINGHAM merly with the Interstate Motor Freight (1945), Works Analytical Supervisor, Tenn. Coal & Iron Div., U.S. Steel. system. Douglas I. Mann, 58, (1943), Part- James Thomas Bayer, 45, KANSAS CITY ner, Patterson, Teele & Dennis. (Minneapolis, 1945), Office Manager, Selvex Corp. James F. Sanborn, Jr., 49, BOSTON (1953), Edward M. Pendergast, 61, Los ANGELES Partner, Lybrand, Ross Bros. & Montgom- (Syracuse, 1944), Member of Board of ery. Directors, GG Inc. and Gini Products Ernest F. O'Neal, 53, CHATTAHOOCHEE Inc. VALLEY (1946), Head of C.P.A. firm Charles G. Fust, 54, LOUISVILLE (1947), bearing his name. Supervisor of General Accounting, Rey- Floyd H. Crews, 61, DENVER (1935), Treas- nolds Metals Company. urer, Crews -Beggs Dry Goods Co. Stephen J. Cimbala,44, PITTSBURGH (1952), George E. Hawkins, 56, DENVER (1944), Section Head, Accounting Div., Jones & Statistician, Mountain States Tel. & Tel. Laughlin Steel Corp. Co. Milton H. Lillegren, 53, TRI-CITIES (1939), E. Connery Hightower, Sr., 53, FORT Treasurer, Moline Forge Co. WORTH (1949) Chief Clerk, Fort Worth Fred L. Gardiner, 51, OCT (1947), Head of Transit Co., Inc. the accounting firm bearing his name, R. C. Hackenbruch, 66, GRAND RAPIDS Scarborough, England. 1160 N.A.C.A. BULLETIN IN THE PUBLIC EYE

Akron's Charles Reinherr has been elected Cuba's Luis V. Manrara gave a lecture before Treasurer of the Tire and Rim Associa- the Cuba Chapter of National Sales Ex- tion for 1956. . . . Roy Taylor served as ecutives on "Public Accounting — Origin, General Chairman for the American Man- Ethics, and Services to Clients." agement Association Seminar held in New York in March. . Milo Zaveson ad- dressed the same A.M.A. Seminar on Dayton's Eben C. Cutler is teaching a course "Auditing of Purchasing." in "Analysis of Financial Statements" at Sinclair College.... Don D. Battelle and Ann Arbor's Les Schwanbeck addressed the Gordon S. Battelle shared the platform re- Systems and Procedures Association in De- cently at a meeting of the Dayton Chapp- troit recently on "Inventories." ter of the Ohio Society of Certified Pub- lic Accountants, collaborating in a dis- Baltimore's Charles G. Russell, Jr., and Ger- cussion on the problems of business and trude H. Kitchen received certificates of the services an accountant may offer man- achievement from the Tax Practice Insti- agement in solving them. tute. . . . Henry S. Zimmerman has been elected President of the Maryland Orchid Detroit's Donald j. Bevis was guest speaker Society, Inc. for the Third Northwest Graduate Ac- counting Study Conference held in Canal, Boston's Alexander Bac is the author of the Washington, and spoke on "Current Au- section "Preparing Break Even State- diting Problems." . . John Hindelang ments" included in the Standard Hand- has been appointed to serve on the Elec- book for Accountants published by tions Committee for the 1955 -56 term of McGraw -Hill. . . . Howard P. Greene the Automotive Tool and Die Manufac- acted as Moderator at a recent meeting of turers Association. . . Lawrence Hobart the Maine Society of Public Accountants addressed the Michigan Association of in Portland. Bank Auditors and Controllers at Owosso on the topic, "Annual Reports for Small Buffalo's Robert G. Allyn delivered a series Banks." of lectures before the Buffalo Chapter of the American Society of Women Account- Grand Rapids' Milton Swan was recently in- ants during their spring program of pro- stalled as President of the newly- organ- fessional meetings. The theme of his ized Grand Rapids Personnel Council. talks was "Financial Statement Prepara- tion and Interpretation." Hampton Roads' George Ewell has been named to serve on the Board of the Vir- Chicago's John L. Marley addressed the Of- ginia State Ports Authority. fice Management Association on "Inte- grated Data Processing." Jackson's C. S. Rankin has been elected Chairman of the Jackson Appeals Review Cleveland's Douglas Leffingwell has been Board, which passes on fund solicitations elected a Director and Treasurer of Cleve- drives in the city. land Yacht Club. Jamestown's J. Gustaf Sundin has been re- Columbus' Paul Noble spoke before the an- elected Treasurer of the Chautauqua nual Small Business Management Confer- Region Medical Service, Inc. . . Gerald ence, sponsored by the Columbus Cham. Lynch has been re- elected to the Board ber of Commerce, on "Budgeting and of the same organization. . . . Richard Control of Operating Expense." He also Kettle has been nominated to the Board addressed a seminar of the National As. of Governors of the Jamestown Opti- sociation of Paper and Twine Dealers on mist Club. "Analysis of Financial Statements." Daniel Shonting spoke before the Ohio Long Island's William Donaldson recently Newspapers Association on "Accounting had several articles published in Th e Procedures for Weekly Newspapers." Commercial Review. MAY, 19 5 6 1 1 6 1 Richmond's Ernest Owen received an award Los Angeles' Leonard Jacobson has been from the "Ground Observer Corp" for awarded an Honorary Doctor of Law De- serving 1250 hours as a Richmond Air gree by the California College of Com- Defense Filter Center civilian volunteer. merce. . . William Glynn has been re. elected Secretary- Treasurer of the Pacific St. Louis' Walter Nierdieck has been named Springs Manufacturing Association. Treasurer of the Lutheran Orphan Home of Des Peres. . . . Ralph R. Neuhoff au- Merrimack Valley's Richard Page addressed thored an article, "Cost Finding for a the Retail Board of Trade, Salem, New Law Office," published in The Practical Hampshire, recently on "Federal Income Taxes." Lawyer. San Diego's A. L. Childs has been elected Muskegon's Phillip Keessen addressed the President of the Solana Beach Chamber Muskegon Chapter of the American So- ciety of Women Accountants on "Cost of Commerce. Control in Action." Shreveport's Allan Steele served as Vice Now York's William M. Black has accepted Chairman of the Commerce Section of the Louisiana College Conference, in Lake the volunteer assignment to solicit con- Charles, in March. Also he gave an ad- tributions from New York City account- dress before the Accounting Section of ants and accounting firms for the Red Cross Campaign for Members and Funds. Southwestern Social Science Association in San Antonio on "The Development of Newark's Frank Esposito served on a panel Auditing Techniques in the United which discussed "Management Control States." Tools" at the Plant Managers' Confer- ence held recently at Rutgers University. Southern Maine's I. William Schulze ad- dressed the Portland Chapter of the Na- North Alabama's Frank Donilon appeared on tional Office Management Association on a tax panel in Florence sponsored by the "Top Management." Florence Chapter of the American Asso- ciation of University Women. Syracuse's De Will H. Odell has been ap- pointed a member of the Auburn Housing Paterson's Ron Eldridge served as a judge on Authority for a term of five years. . . WATV's "Junior Town Meeting" ora- John R. Tuttle has been elected a Di- torical contest, which featured the topic, rector of the Manufacturers Association of "The Most Significant Event of 1955 ". Syracuse. Alwyn Hartogensis addressed the New York Chapter of the National So- Twin Cities' David B. Brown, James A. ciety for Business Budgeting on "The Fetsch, John A Fitzgerald, Carl L. Nelson, Influence of Automation on Budgets." T. K. Riddi ord, Joseph C. Stoffel, and Richard F. fTousley were speakers and Peoria's Ivan Veatch has been elected Presi- moderators at the Annual Tax Confer- dent of the Central Illinois Dairy Tech- ence of the Minnesota Society of CPA's. nical Society. Arnold Substad was featured speaker at the University of Minnesota recently 's Joseph MacQueen has been when he addressed Beta Alpha Psi hon- appointed General Chairman of the 1956 orary accounting fraternity there on International Systems Meetings of the "Honeywell Planning for Profits Program." Systems & Procedures Association, to be held in Philadelphia in October. Worcester's George Shannon addressed the Pittsburgh's Paul A. May addressed the Amer- local Executives Association and the Wor- ican Management Association in Chicago cester County Association of Credit Men on "Functions of a Controller." on "Federal Income Taxes."

1 1 6 2 N.A.C.A. BULLETIN Philadelphia Regional Successful Early April Event

HILADELPHIA CHAPTER'S first regional topic "Profit Planning and Control" by a Pconference since 1948 when it spon- team from R. C. A. Victor Television sored one in Atlantic City, has gone in Division, Camden, N. J. the record book as a pronounced success. As has been customary for many years, Over 850 members and guests who par- a Forum on Chapter Operations was held ticipated in three technical sessions, an on Thursday, April 5th, also at the official luncheon and dinner and other Benjamin Franklin Hotel, at which over activities greeted the proceedings with 125 members of the 22 officially -par- enthusiasm. The two day affair was held ticipating chapters and representatives of at the Benjamin Franklin Hotel in Phila- the National Board and National Head- delphia, April 6th and 7th. quarters Staff discussed various problems relating to chapter operations. The technical program was an excep- Serving as Chairman of the Confer- tionally outstanding one and highlighted ence Committee was David P. Fry, Na- two fine addresses, by Ernest A. Carlson tional Director from the Philadelphia on "Management Accounting in Action," Chapter. William E. Pawelec, also a and Frank Wallace on "Cost Analysis for National Director from Philadelpia Chap- Cost Reduction," and a very helpful and ter was Chairman of the Program Com- forward- looking case presentation of the mittee.

PHILADELPHIA native son "Ban Franklin" welcomes National President Charles R. Israel to The City of Brotherly Love during the regional conference held there Apri l 6 -7. Witnessing the welcome are Arthur B. Gunnarson, National Secretary (left), and Chapter President Earl I. Cox.

MAY, 1956 1163 TECHNICAL PROGRAM -37th Ch airman , Program Committee: DONALD J. GUTH.

MONDAY MORNING, JUNE 25 Session Chairman: JOHN D. HARRINGTON, Indianapolis 1. CONTRIBUTION OF ACCOUNTING TO COMPANY PROGRESS The speaker will outline the effect upon his company's progress of the establish- ment of management controls, performance reports and the integration of organization incentives with responsibility accounting. 2. QUICKER REPORTS THROUGH COST PLANNING AND CONTROL HOWARD C. GREER, Vice President of Finance, The Chemstrand Corp., Decatur,

Ala.Through the use of adequate pre - planning, management can obtain control reports faster. This speaker will outline the advantages to management of getting the informa- tion soon enough to take corrective or alternate action to shape the course of future events. MONDAY AFTERNOON, JUNE 25 Session Chairman: LEONARD E. ZASTROW, Milwaukee 1. CONTROL OF MAINTENANCE COSTS GEORGE E. MEYERS, Management Consultant, Waban, Mass. The accelerated trend toward mechanization, increased maintenance costs, and the cost of machine shut -down for repair has focussed attention on the control of mainte- nance costs. The speaker will discuss the use of work orders in planning and con- trolling maintenance, the accumulation of maintenance costs by machines and the de- velopment of a preventative maintenance program. 2. JUSTIFYING CAPITAL EXPENDITURES — BEFORE AND AFTER OSCAR A. LUNDIN, Divisional Comptroller, Allison Div., General Motors Corp., Indianapolis, Ind. A discussion of the accountant's part in developing the data used in appraising proposed capital expenditures and in keeping score after the expenditures are made to determine the extent to which the expected savings have been realized.

TUESDAY MORNING, JUNE 26 Session Coordinator: EDWIN F. GRAMES, Lansing Concurrent Group Discussions by Topics 1. ACCOUNTING PROBLEMS OF MERGERS AND CONSOLIDATIONS Discussion Leader: WALTER A. HOLT, Asst. Treas., Whirlpool- Seeger Corp., St. Joseph, Mich. 2. SHORTCUTS IN ACCOUNTING Discussion Leader: WILLIAM H. FRANKLIN, Vice President, Caterpillar Tractor Co., Peoria, II1. 3. ACCOUNTING PROBLEMS — FOREIGN OPERATIONS Discussion Leader: RAYMOND E. BURLEW, Controller, Overseas Div., Monsato Chemical Co., St. Louis, Mo. 4. LABOR COSTS AND FRINGE BENEFITS Discussion Leader: THOMAS D. LYONS, Comptroller, Allis- Chalmers Mfg. Co., Milwaukee, Wis. 5. DISTRIBUTION COST ANALYSIS Discussion Leader: ROBERT B. MARTIN, Treas., Kable News Co., Mount Morris, 111. 6. DEPRECIATION AND AMORTIZATION FOR TODAY'S INTERNAL AND EXTER- NAL REPORTING Discussion Leader: P. D. MCMANUS, Controller, A. O. Smith Corp, Milwaukee, Wis.

1164 N.A.C.A. BULLETIN Annual International Cost Conference Treasurer. Solar Aircraft Co., Des Moines, Iowa

7. CONTROL OF MAINTENANCE COSTS Discussions Leader: P. M. CHIUMINATTO, Secretary and Treasurer, Charman Paper Mills, Inc., Green Bay, Wis. B. JUSTIFYING CAPITAL EXPENDITURES — BEFORE AND AFTER Discussion Leader: HERMAN C. HEISER, Manager of the Management Accounting Department, Lybrand, Ross Bros. & Montgomery, Philadelphia, Pa.

TUESDAY AFTERNOON, JUNE 26 Session Coordinator.-'CARL ENGELHARDT, Toledo Concurrent Group Discussions by Topics 1. ELECTRONIC DATA PROCESSING A. Introductory Discussion Leader: GEORGE N. DANEHOWER, Arthur Andersen & Co., Chicago, Ill.

GroupB. Intermediate1 — Discussion Leader: VIRGIL F. BLANK, Haskins & Sells, San Francisco,

Group 2 —Calif. Discussion Leader: R. A. BYERLY, Peat, Marwick, Mitchell & Co., Chi- cago, Ill. C. Advanced Discussion Leader: ALBERT S. ROBERTS, Divisional Auditor, Pratt & Whitney Div., United Aircraft Corp., Hartford, Conn., assisted by Justus A. Littel, of the same firm. 2. BETTER METHODS AND PROCEDURES FOR SMALL COMPANIES Discussion Leader: JOHN L. MARL TY, John L. Marley & Co., Chicago, Ill. 3. INTEGRATED DATA PROCESSING Discussion Leader: To be announced

WEDNESDAY MORNING, JUNE 27 Session Chairman: DONALD J. PATTON, Cleveland 1. THE BUDGET AS A TOOL FOR FINANCIAL PLANNING AND COORDINATION Speaker: WORTH PROBST, Comptroller, Bryant Div., Carrier Corp., Indianapolis,

The speakerIndiana will present his method of obtaining a coordinated plan for the future from the various levels of management. 2. THE BUDGET AS A TOOL FOR OPERATING MANAGEMENT AND CONTROL Speaker: J. CURRAN FREEMAN, Controller, Dresser Industries, Inc., Dallas, Texas This speaker will show how to follow up on a plan and measure results —in time.

WEDNESDAY AFTERNOON, JUNE 27 Session Chairman: DONALD J. GUTH, Des Moines HOW WE REPORT TO VARIOUS LEVELS OF MANAGEMENT —A COMPANY CASE STUDY A panel made up of representatives of a division of Minnesota Mining & Manufac- turing Co., St. Paul, Minn., will explain their various parts in the control and operation of the business. The panel will present reports used for control purposes and then representatives of operating divisions will respond with their interpretations and usages of reports so presented. MAY, 1956 1163 Career Service Award to tions submitted by 33 different Federal Washington Chapter Member Government Department and Agency Heads. M O N G T E N recipients of the First An- In a statement issued by Chairman J. A nual Career Service Awards pre- Sinclair Armstrong of the Securities and sented by the National Civil Service Exchange Commission, Mr. Barr par- League recently was Andrew Barr, a ticularly was commended for a "fine ex- member of Washington Chapter for the ample of public service and his important past eight years and currently its Director contribution to good government and the of Education. Mr. Barr, who is Chief public interest." Mr. Barr, for 12 years a Yale Univer- Accountant of the Securities and Ex- sity Accounting Instructor, has served change Commission, and other honorees with the Securities and Exchange Com- were selected from one hundred nomina- mission since 1938.

Chest Count in Cedar Rapids SIX CEDAR RAPIDS Chapter members are pictured auditing Com. munify Chest solicitor reports following re- cent completion of the official Chest campaign period in their com- munity. They were part of a larger group of N. A. C. A. members who, as they annually do, participated in the auditing session. Shown here are members (1. to r.): Harry J. Os- born Jack Geh Ralph 11 Hancock Arthur C. Redel Ita'pP' Webster and Adolphe A. Herr- bath.

Coleman Named President of Since 1946 President of a firm which National Chamber of Commerce has 28,000 employees, Mr. Coleman is OHN S. COLEMAN, onetime Publicity widely known as "an advocate of world J and Membership Director of Wash- trade, of participation in politics by busi- ington Chapter, has been elected the 29th nessmen, and for the harmonious labor president of the National Chamber of relations within his worldwide industrial Commerce for a one -year term, and took organization." office on May 2. Mr. Coleman, who is Mr. Coleman, an active member of President of Burroughs Corporation, De- Washington Chapter in the mid - thirties, troit, was elected to this association office went to work for Burroughs as a sales- by the Chamber's Board of Directors. man in 1920. 1166 N.A.C.A. BULLETIN CONGRATULATIONS TO

Victor T. Dollery, ALBANY, who has formed Adding and Calculating Machine Divi- a partnership for the practice of public sion of Remington Rand. accounting under the firm name of Nus- John J. More, DELAWARE, who has been baum & Dollery. appointed Assistant Treasurer of Wilson William M. Landrum, ANN ARBOR, appointed Excursion Lines, Inc. . . . Leonard J. Accountant -in- Charge of the Rawsonville Kains, now Comptroller of Bayshore In- Plant, Parts and Equipment Manufactur- dustries, Inc. ing Division, of For Motor Co. . . . Winfield Mudge, now Assistant to the D. J. Lucas, DENVER, promoted to Chief of the Regional Costs Services Section, President of Studebaker- Packard Corp. Regional Controllers Office, Post Office Paul R. Harris, BALTIMORE, who has been Department. . Arthur W. Ewy, now promoted to Plant Controller for Kaiser Head of the Taxes and Insurance Depart- Aluminum & Chemical Corporation Ex- ment at Gates Rubber Company. trusion Works at Halethorpe, Md. Larry R. Chemberlin, DES MOINES, promoted Richard Lipscomb, BATON ROUGE, promoted to Assistant Comptroller ofthe Iowa -Des to Secretary - Treasurer of Community Cof- Moines National Bank. . . . Miss Edna fee Co., Inc K. Lewis, now Assistant Secretary of Gerald Wilbur, BINGHAMTON, appointed Delavan Manufacturing Co. Project Manager of General Accounting Nicholas Toeroek, DETROIT, elected to the in IBM's new Military Products Division. Controller of Ray Williams . Frank Dunn, who has been appointed office FreightofLines, Inc. . Robert L. Project Manager of Cost Accounting in Williams, who joined the firm of Bushaw, IBM's Military Products Division. Skillman & Stacks, CPA's as a General Frederick D. Santos, BRIDGEPORT, made Partner. . . George Werfelmann, now Assistant Auditor of the Motor Products Chief Accountant of the Milford Divi- sions, Norden -Ketay Corp. Corporation. Anthony J. Keller, BROOKLYN, now Treas- James Groseclose, EAST TENNESSEE, who urer and Controller of American Manu- has been promoted to General Accounting facturing Co. Supervisor, Sperry Farragui Company in Bristol. Raymond J. Lowe, BUFFALO, appointed Gen- eral Manager of F. N. Burt Co. . . Kenneth Brack, EVANSVILLE, who has been Ralph W. Seiler, now Comptroller of named General Manager of the Gem the same firm. Furniture Mart. . . . Herman Shuel, admitted to the 25 -year Club at H. Fen - Julian R. Black, CHARLOTTE, promoted to drich Co. Division Controller of The Kendall Com- pany. John Wittmayer, FORT WORTH, named Con - Finley Robbins, CHATTANOOGA, who has troller at Fort Worth Steel and Machin - ery Co. been promoted to Office Manager of Dixie Mercerizing Co. Paul P. Grodner, Fox RIVER VALLEY,' now Assistant Controller of Austin- Western. V. P. Brown, CHICAGO, who has been pro- . . . Harold Heller, promoted to In- moted to Controller of DITTO, Incor- ternal Auditing Supervisor, Caterpillar porated. He is a Past President of Chi- Tractor Co.— Joliet. cago Chapter. G. D. Wallace, CLEVELAND, promoted to Su- Dale Floyd, HARRISBURG, promoted to Cost pervisor of Planning and Production Con- Control and Budget Co- ordinator ofC. H. trol at Cleveland Graphite Bronze. Masland & Sons. James Erwin, DALLAS, who has been pro- David Watson, HAWAII, appointed Treasurer moted to Sales Manager of the Dallas of the Honolulu Iron Works. MAY, 1956 11 67 Henry Miller, HOUSTON, new District Man- Robert E. Curry, PHILADELPHIA, appointed ager of DITTO, Incorporated. . Anon Office Manager of Linde Air Products Golub, elected Vice President of Mission Company's Essington factory. Manufacturing Company. Donald Cooley, POMONA VALLEY, appointed George Williams, JAMESTOWN, named Au- Director of Finance for the City of On- ditor at Art Metal. . . . Paul Jaffy, now tario. Cost Accountant of the same firm. Lewis Prichard, PORTLAND, who has been Robert Micklatcher, KALAMAZOO, promoted promoted to Assistant Vice President of to General Accounting Section Super- the First National Bank of Portland. He visor of Carton Container Division. Gen- is a Past President of Portland Chapter. eral Foods. Frank A. Timoni, RARITAN VALLEY, who has Norman Cochran, KANSAS CITY, now Con- opened an office for the practice of public troller of Burd & Fletcher Co. . Wi l. accounting in Elizabeth, N. liam A. ObernhoRz*r, appointed Vice 1. President— Finance of Delta Tank Manu- Bernard Geyer, SAGINAW VALLEY, promoted facturing Co., Inc. to Vice President of the Home Dairy Co. Harold E. Stump}, LANCASTER, promoted to Gerald Kissling, SAN ANTONIO, promoted to Controller —Plant Engineering Dept. of Comptroller of Pearl Brewery. Armstrong Cork Company's Floor Plant. Leonard Jones, SAN FRANCISCO, who has Benjamin Hanna, LANSING, who has assumed opened a public accounting office in San the position of Management Analyst with Rafael. the Chrysler Corporation, Detroit. William Gerth, SCRANTON, who has been ap- Harold S. Heisey, LEHIGH VALLEY, promoted pointed Controller and Assistant to the to Works Accountant at Bethlehem Steel. Manager at the new Tung -Sol Plant in Hazelton. Bruce Brown, MILWAUKEE, promoted to As- sistant Chief Accountant of Kearney & Russell William Peterson, SEATTLE, who has Trecker Corp. been made Secretary, in addition to being Nathaniel F. Bigelow, Jr., NEW HAMPSHIRE, Assistant Treasurer, of Puget Sound who has formed a CPA Partnership with Power & Light Co. the firm name of Bigelow, Cotten and Co. Frank L. Holleman, SHREVEPORT, who has Cecil D. Marshall, NEW YORK, who has been elected Secretary - Treasurer of the been appointed Deputy Comptroller of the Arkansas - Louisiana Gas Co. Brooklyn Army Terminal, of the Atlantic Thomas F. Guiheen, SPRINGFIELD, new City Transportation Terminal Command. . Auditor of Holyoke. Warren W. Byrne, elected Vice President of Lowry & Company, Inc. He is Presi- Allen C. Ritz, SYRACUSE, who has joined dent of the New York Chapter. Porter Cable Company as Administrative Assistant to the Vice President and Treas- Gerald Shaw, NEWARK, who has been ap. pointed Office Manager and Chief Cost urer. Accountant of Eastwood -Neely Corp. Richard G. Palmer, TRENTON, elected Treas- urer of Winner Manufacturing Co. Wesley Kolbe, NORTHERN WISCONSIN, elected Assistant Controller of Western Con- Herbert Walker, TWIN CITIES, now Bursar densing Co. at the College of St. Thomas. Roger H. Downs, OAKLAND -EAST BAY, pro- Ivan Ripple, WABASH VALLEY, now an Ac- moted to Division Controller for Kaiser countant with Harvey Aluminum Sales Aluminum & Chemical Corporation Sheet and Foil Products. Percival F. Brundage, WASHINGTON, who assumed the duties of United States Vernon Moorman, PATERSON, elected Treas- Budget Director on April 1. urer of Athenia Steel Company. Kenneth Bergstrom, WORCESTER, who has Clean Johnson, PENINSULA -SAN JOSE, pro- been appointed Executive Assistant to the moted to Cost Supervisor of Owens -Corn- General Manager of Crompton Knowles ing Fiberglas. Loom Works. 1168 N.A.C.A. BULLETIN CHAPTER MEETINGS

AKRON, Ohio May 16 BOSTON, Mass. May 9 Woman's City Club Hotel Bradford Cost Accounting As a Marketing Tool National Security for Peace or for War —JOHN T. CAHOON, Asst. Mgr., Mar- — ROBERT CUTLER, Chairman, Bd. of keting Research Dept., Firestone Tire & Directors, Old Colony Trust Co., Bos- Rubber Co., Akron, Ohio. ton, Mass. ALBANY, N. Y. May 15 BRIDGEPORT, Conn. May 15 Shaker Ridge Country Club Latham, N. Y. Barnum Hotel Impact of Electronic Accounting — The Use of Charts and Graphs — EDWARD DUANE E. WATTS, SR., Systems Analyst, L. SKARREN, Asst. to Pres., The Chart - Price Waterhouse & Co., New York, makers, Inc., New York, N. Y. N. Y. BROOKLYN. N. Y. May 16 ANN ARBOR, Mich. May 17 Clements Club Internal Accounting Control— GEORGE Elks Club Students Field Work in Systems An- C. WATT, Mgr., Price Waterhouse & alysis —STUDENT OF PROF. IRENE Co., New York, N. Y. PLACE, University of Michigan, Ann BUFFALO, N. Y. May 17 Arbor, Mich. Buffalo Trap & Field Club ATLANTA, Go. May 15 Management Appraisal of Modern Ac- Dinkier Plaza Hotel counting Methods -1. WAYNE KELLER, Solutions to Office Administration and Controller, Armstrong Cork Co., Lan- Personnel Problems —S. M. LYON, JR., caster, Pa. Asst. Controller, Albers Div., Colonial CALUMET May 22 Stores, Inc., Cincinnati, Ohio. Phil Smidt's Hammond, Ind. BALTIMORE, Md. May 16 Developments in Use of Atomic Energy Park Plaza Hotel for Power Production —EUGENE R. The Human Side of Accounting —JEN- LEWIS, Mgr., Commercial Div., Com- NINGS RANDOLPH, Asst. to Pres., Cap- monwealth Edison Co., Chicago, III. ital Airlines, Inc., Washington, D. C. CEDAR RAPIDS, Iowa May 15 BANGOR, Me. May 21 Hotel Montrose TarraMne Club Social Security in the United States To- Filling Management Needs With Mod- day—KENNETH REED, Mgr., Social Se- ern Control Tools — F. E. SWISHER, curity Office, Cedar Rapids, Iowa. Sec'y. & Controller, Dennison Mfg. Co., 1&, . Framingham, Mass. CHARLOTTE, N. C. May 1B Hotel Mecklenburg BATON ROUGE, La. May 15 Is Paperwork Necessary to Ship an Bob & Jake's Steak House Order—EVERETT C. YOWELL, Asst. Dir. Dynamic Accounting — LEO HERBERT, of Electronics Application, National Asst. State Auditor, Baton Rouge, La. Cash Register Co., Dayton, Ohio. BINGHAMTON, N. Y. May 17 CHATTAHOOCHEE VALLEY May 21 Hotel Arlington Ralston Hotel Columbus, Go. What Management Expects of Its Fi- Electric Accounting —I. W. GREGORY, nancial Department — LEOPOLD ECKLER, National Cash Register Co., Columbus, Gen'l. Mgr., Ansco Div.; Vice Pres., General Aniline & Film Corp., Bing- Ga. hamton, N. Y. CHATTANOOGA, Tenn. May 17 BIRMINGHAM, Ala. May 22 Hotel Patten Tutwiler Hotel Material Handling Problems and Pro- Does Your Accounting Serve Its Pur- cedures —COL. W. F. GRUBB, U. S. Air pose? —W. A. CRICHLEY, Controller, Force, Air University, Maxwell Field, Diamond Alkali Co., Cleveland, Ohio. Montgomery, Ala.

MAY, 19 56 11 6 9 CHICAGO, 111. May 24 DES MOINES, Iowa May 16 Furniture Club of America Standard Club Controllership and Cost Accounting — Net Income Per Share — RALPH S. JAMES L. PEIRCE, Vice Pres. & Con- JOHNS, Partner, Haskins & Sells, Chi- troller, A. B. Dick Co., Chicago, Ill. cago, III. CINCINNATI, Ohio May 17 Sheraton-Gibson Hotel DETROIT, Mich. May 24 An Application of a Basic Standard Park Shelton Hotel Rate to Direct Labor —JAMES F. MER- Industrial Accounting Quiz —DAVID P. RICK, Asst, Controller, Monroe Calcu- FRY, JR., Controller, The Cochrane lating Machine Co., Cincinnati, Ohio. Corp., Philadelphia, Pa. CLEVELAND, Ohio May 17 EAST TENNESSEE May 17 Carter Hotel RidgeRelds Country Club Kingsport, Tenn. Financing Problems of the 1950's —A. Federal Reserve System — LESLIE I. E. WOLF, Vice Pres. of Finance, Stand- DRIVER, Pres., First National Bank, ard Oil Co. of Ohio, Cleveland, Ohio. Bristol, Tenn. COLUMBIA, S. C. May 17 Jefferson Hotel ELMIRA AREA May15 Budgeting for the Medium -Sized Bust - Mark Twain Hotel ness—R. F. LOTZ, Comptroller, Vir- Settlement of a Fire Cl a i m — A . E. ginia Smelting Co., West Norfolk, Va. WOLBER, Asst. Gen'l. Mgr., John L. Train Co., Inc., Utica, N. Y. COLUMBUS, Ohio May 16 Port Hayes Hotel ERIE, Pa. May 15 Expense Control: Fact or Fiction — Kahkwa Club GEORGE D. FALLS, Chief Accountant, Techniques in Reporting to Manage - Air -Way Electric Appliance Corp., To- ment—M. O. SMITH, Asst. Controller, ledo, Ohio. Johnson & Johnson, New Brunswick, COOSA VALLEY May 17 N. J. Jefferson Davis Hotel Anniston, Ala. EVANSVILLE. Ind. May 17 Financial Management and Accounting Smitty's Steak 3 Sea Food House —COL. C. J. WILLIAMS, Commanding The Time Is Now —GENE FLACK, Du . Officer, Anniston Ordnance Depot, An- niston, Ala. of Advertising, Sunshine Biscuits, Inc., Long Island City, N. Y. CUBA May 16 Hotel Comodoro FALL RIVER, Mass. May 17 El Transporte Terrestre. Sur CostosDAy Stone Bridge Inn Tiverton, R. I. sus Prohlemas — IGNACIO TABOA , How W e Control Our Factory Costs— Socio de Taboada y Garcia. JOSEPH COHEN, Sec'y., J & J Corru- DALLAS, Texas May Is gated Box Corp., Fall River, Mass. Melrose Hotel FORT WAYNE, Ind. May 15 Direct Costs and Financial Reporting— Chamber of Commerce Roy E. BURKE, Price Waterhouse & Economic Democracy—M. O. Ross, Co., Houston, Texas. Pres., Butler University, Indianapolis, DAYTON, Ohio May 15 Ind. Engineers Club The Public Accountant Looks at Cost FORT WORTH, Texas May 17 Accounting —R. ALLAN PARKER, Res. Worth Hotel Partner, Touche, Niven, Bailey & Smart, Accounting for Disbursements — ROBERT Dayton, Ohio. I. MALONEY, Southwestern Bell Tele- phone Co., Dallas, Texas. DELAWARE May 9 Hotel Rodney Wilmington, Del. FOX RIVER VALLEY May 16 Top Budgets and Statements to Man- Tally Ho Restaurant St. Charles, 111. agement —FRANK Z. OLEs, Asst. Con- Controllership and Cost Accounting — troller, Davison Chemical Co., Balti- JAMES L. PEIRCE, Vice Pres. & Con- more, Md. troller, A. B. Dick Co., Chicago, I11. DENVER, Colo. May Is GRAND RAPIDS, Mich. May 15 Farmers Union Building PantIind Hotel Accounting for a Small Business — Business Outlook —A. H. BAUME, Asst. MORRIS B. HECOx, Vice Pres. & Treas., Mgr., Industry Analysis Dept., Mercury Ingwerson Mfg. Co., Denver, Colo. Div., Ford Motor Co., Detroit, Mich. 1 1 7 0 N.A.C.A. BULLETIN GREENWICH- STAMFORD May 15 KNOXVILLE, Tenn. May 15 Half -Way Home Darien, Conn. The Oak Terrace Oak Ridge, Tenn. Reducing Maintenance Colts— GEORGE The A. E. C. Team —S. R. SAPIRIB, E. MEYERS, Management Consultant, Mgr., Oak Ridge Operations Office, Waban, Mass. Atomic Energy Comm., Oak Ridge, HAGERSTOWN. Md. May 17 Tenn. Hotel Alexander LAKE SUPERIOR May 10 Cost Control's Conscience— CHARLES Athletic Club Duluth, Minn. E. K. Fox, Supervisor, Indus'l. Engi- neering, Pangborn Corp., Hagerstown, Direct Costing —P. M. CHIUMINATTO, Sec'y.- Treas., Charmin Paper Co., Green Md. Bay, Wis. HAMPTON ROADS May 17 Carl Parker's Restaurant So. Norfolk, Va. LANCASTER, Pa. May Is Depreciation —Panel Discussion. Hotel Brunswick HARRISBURG, Pa. May 22 A Training Program for Office Super- Penn Harris Hotel visors— Edmund H. PLANT, Mgr., Ko- Gearing Accounting to Management dak Office Training Dept., Eastman Needs — JOHN CALDWELL, Standard Kodak Co., Rochester, N. Y. Steel Works Div., Baldwin- Lima -Ham- LANSING, Mich. May 17 ilton Corp., Burnham, Pa. Hart Hotel Battle Creek, Mich. HARTFORD, Conn. May 15 Magic Formula for Hidden Costs —ED Indian Hill Country Club Newington, Conn. BAUM. Past President's Night. LEHIGH VALLEY May 11 HAWAII May 11 Problems of Marginal Sugar Plantations Steel Club Bethlehem, Pa. — BOYD MACNAUGHTON, SR., Vice Mergers — CHARLES H. H. WEIKEL, Pres., C. Brewer & Co., Ltd., Honolulu, Mgr., Commercial Research & Industrial T.H. Development, Bethlehem Steel Co., Bethlehem, Pa. HOUSTON, Texas May 15 Weldon's Cafeteria LONG BEACH, Calif. May 16 Organization Within the Accounting Lafayette Hotel Department— DONALD P. JONES, COMP- Wage Incentives and Standards —BEN- troller, Sun Oil Co., Philadelphia, Pa. JAMIN BORCHARDT, Benjamin Bor- INDIANAPOLIS, Ind. May 16 chardt & Assoc., Los Angeles, Calif. Severin Hotel Women in Business —MRS. THELMA LONG ISLAND May 15 FIDLER, Charga -Plate Assoc. of In- Garden City Hotel Garden City, N. Y. dianapolis, Indianapolis, Ind. Profit Sharing —S. A. ALBRECHT, S. A. Albrecht & Co., Farmingdale, N. Y. JACKSON, Miss. May 17 Walthall Hotel LOS ANGELES, Calif. May 15 What the Future Holds for Business — Elks Club R. C. WEEMS, JR.,Dean of School of The Trend of Government vs. Private Business, Mississippi State College, State Financing —AKSEL NIELSEN, Pres., The College, Miss. Title Guaranty Co., Denver, Colo. JAMESTOWN, N. Y. May 15 is Hotel Jamestown LOUISVILLE, Ky. May Kentucky Hotel Government Influence on Cost Account- Cost Accounting and the Attorney — ing — CHARLES H. TOWNS, Loomis, SAMUEL ROSENSTEIN, Attorney, Louis- Suffern and Fernald, New York, N. Y. ville, Ky. KALAMAZOO, Mich. May 15 Columbia Hotel MASSACHUSETTS NORTH SHORE May 15 Business Finance and Economic Prog- Hotel Hawthorne Salem, Mass. ress—JULIUS WENDZEL, W. E. Up- Profit Planning— STANLEY Z. BRONNER, john Institute of Community Research, Asst. Vice Pres. & Asst. Controller, Kalamazoo, Mich. Bridgeport Brass Co., Bridgeport, Conn. KANSAS CITY, Mo. May 19 MEMPHIS, Tenn. May 16 Hotel President Gayoso Hotel The Accountant Looks at Figures— Internal Control: Interception or Decep- DALE E. BEVARD, Controller, The H. D. tion —F. C. LAMBERT, Peat, Marwick, Lee Co., Kansas City, Mo. Mitchell & Co., Memphis, Tenn.

MAY, 19 56 1 1 7 1 MERRIMACK VALLEY May 24 NEWARK, N. J. May 24 Andover Country Club Andover, Mass. Robert Treat Hotel Cost Panel. Electronic Data Processing: A Cott Ap- MID-HUDSON May 21 plication —Panel Discussion. Nelson House Poughkeepsie, N. Y. NORTH ALABAMA May 21 Methods —Time Measurements — JOHN Y.F.W. Hall Sheffield, Ala. L. SCHWAB, Pres, Schwab Assoc., Does Your Accounting Serve Its Pur- Bridgeport, Conn. pose?—W. A. CRICHLEY, Controller, MILWAUKEE, Wis. May 21 Diamond Alkali Co., Cleveland, Ohio. Elks Club NORTH CENTRAL OHIO May 17 Direct Costing —P. M. CHIUMINATTO, Mansfield Leland Hotel Mansfield, Ohio Sec'y- Treas., Charmin Paper Mills, Inc., Adapting for Electronic Accounting — Green Bay, Wis. R. VAN CAMP, Div. Controller, North MOBILE, Ala. May 16 American Aviation, Inc., Columbus, Battle House Ohio. Application of Statistical Methods to NORTHERN WISCONSIN May 1S Quality and Cost Control —EARLS N. Oneida Country Club Green Bay, Wis. MARTIN, SR., Comptroller, Godchaux Sugar Co., Inc., New Orleans, La. New Concepts of Industrial Accountin ggp — CHARLES HOLMES, Kimberly -Clark MOHAWK VALLEY May 21 Corp., Neenah, Wis. Club Monarch Yorkville, N. Y. C.P.A. vs. Industrial Accountant— NORWICH, Conn. May 17 ROGER WELLINGTON, Scovell, Well- Commerce Club ington & Co., New York, N. Y. Techniques of Procedure Analysis— MUSKEGON. Mich. May 21 GEORGE D. WILKINSON, The George Shurfine Room D. Wilkinson Co., New York, N. Y. Cost Accounting vs. Cost Bookkeeping OAKLAND -EAST BAY May 24 —H. F. TAGGART, Asst. Dean, School Sponger's Fish Grotto Berkeley, Calif. of Bus. Admin., University of Michigan, Pitfalls and Booby Traps in the Busi- Ann Arbor, Mich. ness Outlook — HAROLD FURST, Reg'I NASHVILLE, Tenn. May 15 Economist, Bank of America. Andrew Jackson Hotel OMAHA, Neb. May 15 The Accounting of Tomorrow —HARRY Fontanelle Hotel R. STONE, Vice Pres. & Comptroller, Net Income Per Share — RALPH S. Southern Bell Tel. & Tel. Co., Atlanta, JOHNS, Partner, Haskins & Sells, Chi- Ga. cago, Ill. NEW HAMPSHIRE May 15 PATERSON, N. J. May 16 Calumef Club Manchester, N. H. The Tree Restaurant Profit Sharing: Sparkplug to Profits — What We Did at Fo rd —W. W. SARTELL PRENTICE, Profit Sharing JR., BOOTH, Mgr., Profit Analysis Dept., Counselor, West Hempstead, N. Y. Ford Motor Co., Dearborn, Mich. NEW HAVEN, Conn. May 22 Seven Gables Towne House PENINSULA -SAN JOSE May 15 Rickey's Studio Inn Palo Alto, Calif. Paper and System Simplification for Small Business —PETER READING, Asst. Are You Serving Your Management? — Controller, Connecticut Hard Rubber DUDLEY E. BROWNE, Comptroller, Co., New Haven, Conn. Lockheed Aircraft Corp., Burbank, Calif. NEW ORLEANS, La. May 10 PEORIA, III. May 16 Lenfont's Boulevard Room Hotel Pere Marquette Economic Circumstances Now and in Things About Taxation People Don't 1929— ARTHUR A. SMITH, Vice Pres. & Like To Hear — ALEXANDER EULEN- Economist, First National Bank, Dallas, BERG, Partner, David Himmelblau & Texas. Co., Chicago, Ill. NEW YORK, N. Y. May 21 PHILADELPHIA, Pa. May 17 Dolmonico Hotel Kugler's Chestnut St. Restaurant A Case Study of the Application of Elec- The General Electric Company, Its Or- tronic Computers —I. WAYNE KELLER, ganization and Its Training Program — Controller, Armstrong Cork Co., Lan- HAROLD A. MACKINNON, Vice Pres., caster, Pa. General Electric Co., Fort Wayne, Ind.

1 1 7 2 N.A.C.A. BULLETIN PIEDMONT May 18 tion—EDMUND S. LAROSE, Controller, High Point, N. C. Bausch & Lomb Optical Co., Rochester, Sharpening the Tools of Analysis and N. Y. Communication —W. A. TERRILL, Prof of Acctg., University of North Carolina, SABINE May 21 Chapel Hill, N. C. Wayside Inn Bridge City, Texas Interpretive Reports for Management — PITTSBURGH, Pa. May 16 J. M. ERWIN, Tax Mgr., Ernst & Ernst, Hotel William Penn Houston, Texas. Some Aspects ofthe Guaranteed Annual II%'age—JACOB J. BLAIR, Prof. of Indus- SAGINAW VALLEY May 15 try, University of Pittsburgh, Pittsburgh, Owosso Country Club Owosso, Mich. Pa. Accounting on a Seasonal Basis — ALFRF,D A. RENNF.RT, Asst. Comptroller, PORTLAND, Ore. May 15 Michigan Sugar Co., Saginaw, Mich. Heathman Hotel Fashions and Figures Designed for ST. LOUIS, Mo. May 1S 1957 — EVERETT E. COBB, JR., Chief Sheraton Hotel Accountant, Jantzen Inc., Portland, Ore. How the Industrial Accountant Can PROVIDENCE, R. 1. May 21 Help His Banker— Kenton R. Cravens, Johnson's Grille Pres., Mercantile Trust Co., St. Louis, Mo. Broadening Horizon for Creative Adver- titing —MYLES STANDISH, Pres. & Treas., SALT LAKE CITY, Utah May 21 The Standish- Barnes Co., Providence, Andy's R. I. Standard Cost Accounting As Applied RACINE- KENOSHA May 14 in the United States Air Force —RUSSELL Elks Club Racine, Wis. A. STEPHENSON, Chief, Acctg. Div., Hill Air Force Base, Ogden, Utah. Today's Challenge to Industrial Ac- counting— ARTHUR H. SMITH, Manage- SAN ANTONIO, Texas May 15 ment Analyst, General Mills, Inc., Min- Gunter Hotel neapolis, Minn. 11' -'hat's New in Business Machines?— RARITAN VALLEY May 16 Local Members Representing Machine For Hills Inn Manufacturers. A Management Evaluation of Modern Accounting Metbods —WAYNE KELLER, SAN DIEGO, Calif. May 9 Controller, Armstrong Cork Co., Lan- Town & Country Club caster, Pa. Mechanized Accounting: Review, Past and Future— WILLIAM D. BELL, Pres., READING, Pa. May 18 Mellonics, Van Nuys, Calif. Berkshire Hotel Let's Look at Tomorrow—Louis P. SAN FRANCISCO, Calif. May 22 go- SHANNON, Mgr., Extension Div., E. 1. Engineers Club duPont de Nemours Co., Wilmington, Computer Application in Inventory Con. Del. /r01—EVERETr S. CALHOUN, Mgr., Elec- RICHMOND, Va. May17 tronic Data Processing Research, Stan- Hotel John Marshall ford Research Institute, Menlo Park, New Challenges to Accountants —T. Calif. JACK GARY, Peat, Marwick, Mitchell & SANGAMON VALLEY May 15 Co., Richmond, Va. Hotel Orlando Decatur, 111. ROCHESTER, N. Y. May 16 Labor Control — WALDo L. WERNER, Seneca Hotel Controller Houdaille - Hershey Corp., De. Responsibility Accounting — HORACE J. catur, I11. LANDRY, Asst. Prof. of Acctg., Syracuse University, Syracuse, N. Y. SCRANTON, Pa. May 21 Scranton Club ROCKFORD, III. May 15 Budgeting: Projection or Prophecy— Hotel LaFayette WALTER MITCHELL, JR., Consultant. Combined Planning and Control of Mgt. Planning- Analysis, Old Green- Manufacturing and National Distribu- wich, Conn.

MAY, 19 5 6 1 1 7 3 SEATTLE, Wash. May 16 TWIN CITIES May 24 Elb Club Everett, Wash. Calhoun Beach Hotel Minneapolis, Was. Personnel in Accounting —VAL CLARK, 35th Anniversary. Plant Accountant, West Coast Div., WABASH Volley May 15 Scott Paper Co., Everett, Wash. Deming Hotel Tern Haute, lad. SHREVEPORT, La. May 15 Building Plant and Equipment, Property Caddo Hotel Records and Men — E. M. WUM Direct Line to Decision —M. H. CAMP, Project Accountant, Campbell Soup Co., Branch Mgr., I. B. M. Corp., Shreve- Napoleon, Ohio. port, La. WASHINGTON, D. C. May 16 SOUTH BEND, Ind. May 15 The Occidental Lincoln Highway Inn Mishawaka, Ind. Electronics in Accounting —T. E. CLEM- What To Do Until the C.P.A. Arrives MONS, Sales Mgr., Special Industries, —LEE T. FLATLEY, Partner, Price, I.B.M. Corp., New Orleans, La. Flatley & Co., South Bend, Ind. WATERBURY, Conn. May 10 SOUTHERN MAINE May 17 Elton Hotel Eastland Hotel Portland, Me. Panel Discussion. Teaming Top and Bottom Management WATERLOO, Iowa May 1 for Cutting the Cost of Operation — RAYMOND G. LOCHIEL, Vice Pres. & The Convair Room Treas., Capital Airlines, Washington, Convicts and Prisont—CHARLES GEP- D. C. HART, Editor, Waverly Democrat, Wav- erly, Iowa. SPRINGFIELD, Mass. May 16 Natal Shelton WESTERN CAROLINAS May 1B Impact of Electronic Cost Accounting — Elks Club Greenville. S. C. JAMES GIBBONS, Dir., Electronics Div., Procedure for the Accumulation of Price Waterhouse & Co., New York, Maintenance COSTS— CHARLES C. BAKER, N. Y. Regional Controller, Ecusta Paper Corp., Pisgah Forest, N. C. SYRACUSE, N. Y. May 17 Citizens Club WICHITA, Kan. May 15 Executive Controls: What and Wh y — Broadview Hotel WILLIAM F. JEROME, III, Dir. of Army Property and Profit —JOHN E. HOSSACK, Controllership School, Syracuse Univer- Asst. Vice Pres., American Appraisal sity, Syracuse, N. Y. Co., Chicago, Ill. TOLEDO, Ohio May 15 WILLIAMSPORT. Pa. May 14 Commodore Perry Hotel Lycoming Hotel The Accountant's Role in Communica- Communications in Business and Indus- tionJ—PALMER W. HANCOCK, Comp- try—HAROLD P. ZELCO, Prof. of Public troller, Owens - Illinois Glass Co., To- Speaking, State University, University Park, Pa. ledo, Ohio. r N TRENTON, N. J. May 8 WORCESTER, Mass. May 17 Hotel Stacy -Trent Putnam A Thrnton's Empire Room The C.P.A.'s Relationship to the Indus. Random Thoughts on Economics — trial Accountant— GEORGE HEwITT, Ly- WALTER J. DREVES, Vice Pres. & Treas., brand, Ross Bros. & Montgomery, Phila- American Optical Co., Southbridge, delphia, Pa. Mass. TRI- CITIES May 15 YORK, Pa. May 16 LeClaire Natal Moline, III. Hotel Yorktown* Cost Accountants' Responsibility to The Challenge of The Hour —ARTHUR Management — HAROLD T. JAEKE, Plant C. HORROCKS, Pub. Relations Counsel, Mgr., Oscar Mayer Packing Co., Daven- Goodyear Tire & Rubber Co., Akron, port, Iowa. Ohio. TULSA, Okla. May 15 YOUNGSTOWN. Ohio May 16 Hotel Tulsa Squaw Creek Country Club Unit Costing—Tom GABBERT, Plant Cost Reduction Through Budgetary Con- Controller, Douglas Aircraft Co., Inc., trol—FRANK Z. OLES, Asst. Controller, Tulsa, Okla. Davison Chemical Co., Baltimore, Md. 1 1 7 4 N.A.C.A. BULLETIN ■ 1 w c

CHAPTER COMPETITION Standings of Chapters -For Ten Months Ending April 1st, 1956

PLACE CHAPTER POINTS PLACE CHAPTER POINTS I. GREENWICH- STAMFORD 5198 65. CHICAGO ...... 4432 2. CEDAR RAPIDS ...... 5192 66. ROCHESTER ...... 4413 3. ATLANTA ...... 5172 67. W ATERLOO ...... 4398 3. BANGOR ...... 5172 68. LONG ISLAND ...... 4350 5. COLUMBUS...... 5145 69. BOSTON ...... 4328 6. NORWICH ...... 5140 70. BUFFALO ...... 4318 7. SCRANTON ...... 5120 71. HAGERSTOW N ...... 4310 8. HAWAII ...... 5102 72. MEMPHIS ...... 4300 9. SAN DIEGO...... 5060 73. KANSAS CITY ...... 4293 10. BIRMINGHAM...... 5040 74. LANCASTER ...... 4272 11. CINCINNATI ...... 5030 75. MILWAUKEE ...... 4260 12. SALT LAKE CITY ...... 4972 76. NEW YORK ...... 4182 13. PHILADELPHIA ...... 4954 77. FORT W ORTH ...... 4178 14. SABINE ...... 4950 78. PIEDMONT ...... 4172 I5. MASS. NORTH...... SHORE 4944 79. SOUTHERN MAINE ...... 4162 ■ . 16. NEW HAVEN ...... 4936 80. PENINSULA SAN -JOSE ...... 4142 17. PROVIDENCE ...... 4934 81. EAST TENNESSEE ...... 4136 18. MID - HUDSON ...... 4932 82. COOSA VALLEY ...... 4114 19. YORK ...... 4928 83. HARTFORD ...... 4109 20. MOHAWK...... VALLEY 4917 84. DETROIT ...... 4082 21. INDIANAPOLIS ...... 4912 65. WESTERN CAROLINAS ...... 4048 22. WICHITA ...... 4902 B6. CLEVELAND ...... 4009 23. READING ...... 4894 87. MERRIMACK VALLEY ...... 4008 24. SAN ANTONIO...... 4880 88. ST. LOUIS ...... 3970 25. NEW ORLEANS 4858 89. BALTIMORE ...... 3929 26. ERIE ...... 4834 90. RARITAN VALLEY ...... 3862 27. LOS ANGELES...... 4828 91. KNOXVILLE ...... 3875 28. SPRINGFIELD ...... 4818 92. JAMESTOW N ...... 3870 29. AKRON ...... 4806 93. TRI- CITIES ...... 3848 30. BATON ROUGE...... 4804 94. ANN ARBOR ...... 3840 31. DALLAS ...... 4796 95. BINGHAMTON ...... 3789 32. NEW ARK ...... 4792 96. YOUNGSTOWN ...... 3755 ...... 33. PITTSBURGH 4791 97. TULSA ...... 3742 34. SHREVEPORT ...... 4758 98. DAYTON ...... 3708 ...... 35. PORTLAND 4756 99. RACINE- KENOSHA ...... 3692 36. DENVER ...... 4745 100. WILLIAMSPORT ...... 3618 PATERSON...... 37. 4728 101. BRIDGEPORT ...... 3598 38. KALAMAZOO 4718 102. SEATTLE 3554 39. LANSING ...... 4700 ...... 103. WASHINGTON ...... 3515 40. BROOKLYN 4698 ...... 104. SYRACUSE ...... 3491 41. NASHVILLE 4684 ...... 105. HOUSTON ...... 3477 42. LEHIGH VALLEY 4681 ...... 106. JACKSON 3444 43. WORCESTER 4670 ...... r" 44. TRENTON ...... 07. CHARLOTTE ...... 3401 4654 108. WABASH VALLEY ...... 3388 45. NO. WISCONSIN 4652 46. MUSKEGON ...... 4640 109. ROCKFORD ...... 3382 ...... 110. LAKE SUPERIOR ...... 3304 4 47. CUBA ...... 4628 48. DES MOINES 4614 III. GRAND RAPIDS ...... 3290 49. CALUMET ...... 4600 112. LOUISVILLE ...... 3289 ...... 50. ELMIRA AREA 4598 113. LONG BEACH ...... 3257 51. EVANSVILLE ...... 4590 114. FALL RIVER 3239 52. FOX RIVER VALLEY...... 4584 115. HAMPTON ROADS ...... 3187 ...... 53. OAKLAND -EAST BAY 4566 116. SOUTH BEND 3110 54. MOBILE ...... 4564 117. DELAWARE 3048 55. TOLEDO ...... 4559 118. CHATTANOOGA ...... 2997 56. ALBANY ...... 4558 119. HARRISBURG ...... 2974 56. TWIN CITIES ...... 4558 120. RICHMOND ...... 2967 58. NORTH ALABAMA 4540 121. OMAHA ...... 2690 ...... 59. SAN FRANCISCO 4532 122. SAGINAW VALLEY ...... 2684 60. WATERBURY ...... 4518 123. NO. CENTRAL OHIO ...... 2572 61. PEORIA ...... 4513 124. NEW HAMPSHIRE ...... 2484 ...... 62. COLUMBIA 4488 125. CHATTAHOOCHEE VAL...... 2272 63. FORT W AYNE...... 4478 126. POMONA 1572 64. SANGAMON VALLEY...... 4442 127. OKLAHOMA CITY ...... 116 ...... MAY, 195( 1 1 75 ACROSS FROM GRANT PARK in CHICAGO N.A.C.A.'S 37th INTERNATIONAL COST CONFERENCE will be held JUNE 24 -27, 1956 — CONRAD HILTON HOTEL (lef t in photo) Speakers HOWARD C. GREER— "Quicker Reports Through Cost Planning and Control" GEORGE E. MEYERS — "Control of Maintenance Costs" OSCAR A. LUNDIN — "Justifying Capital Expenditures— Before and After" .1 WORTH PROBST — "The Budgef as a Tool for Financial Planning and Coordination" J. CURRAN FREEMAN — "The Budget as a Tool for Operating Management and V Control" (To Be Announced)— "Contribution of Accounting to Company Progress" Panel Session — "How We Report to Various Levels of Management" By representatives of Minnesota Mining & Manufacturing Co. Concurrent Group Discussions —Led by representatives of: Whirlpool - Seeger Corp., Caterpillar Tractor Co., Monsanto Chemical Co. (Overseas Div.), Allis- Chalmers Mfg. Co., Kable News Co., A. O. Smith Corp., Charmin Paper Mills, Inc., Lybrand, Ross Bros. & Montgomery, Arthur Andersen & Co., Haskin & Sells, Peat, Marwick, Mitchell & Co., United Aircraft Corp. (Pratt & Whitney Div.), and John L. Marley & Co. TROPHY PRESENTATIONS — INSTALLATION OF OFFICERS — ANNUAL DINNER ANNUAL CONFERENCE — CHICAGO —JUNE 24 -27