Elements of accounts

Front matter

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Preface

While this edition of the Elements of Accounts is intended primarily for use in the author's classes in Simmons College, it seems advisable to set forth certain reasons for adding one more to the numerous texts on bookkeeping and accoimting which are available for use in private schools, high schools and colleges.

Any one mterested in the book will, Upon examination, observe that the greater part of the material given for practice work is of a type entirely different from that included in the textbooks which are in general use. It is the author's cont^tion that in many schools where bookkeeping is taught, too much time is devoted to mercantile and manufacturing accounts, to the entire neglect of various other types of bookkeeping which are of great importance.

An attempt has been made, therefore, to provide material of a different character for those schools giving courses in bookkeeping, which do not wish to specialize in mercantile and manufacturing accoimts. The fimdamental principles of double-entry bookkeeping are taught by means of a few short exercises in mercantile accoimts, followed immediately by an application of these principles to the accoimts of private individuals and professional men, small shops and institutions such as libraries, clubs, hospitals, and organizations of various kinds. Such material gives adequate practice in the application of accoimting principles, makes a more practical appeal to many students and, at the same time, fits directly for the kind of work which a great many graduates of our schools will be called upon to do. Considerable attention is given to the preparation of financial reports for publication, work which is often included in the duties of the private secretary. The Federal Income Tax, as applied to individuals, is discussed in detail and a problem given in filling out the necessary blank for the Collector of Internal Revenue, which is work that the bookkeeper or private secretary is frequently called upon to do for private individuals, business and professional men. The fundamental principles of corporation accounts and investments are discussed from a practical point of view and in such a manner as will supply such information along these lines as the average individual needs in order to look after his affairs in a businesslike manner. A variety of supplementary drills and exercises are supplied for practice work involving the use of accounts peculiar to various lines of business. The treatment of business forms and papers is necessarily incomplete owing to the limitations of the present edition of the book- It will be observed that detailed instructions for working out the different exercises and for recording the transactions involved have been omitted, as many teachers feel that those instructions which are actually needed in writing up the required exercise should be supplied by the teacher rather than by the text. Both instructor and pupil benefit by being obliged in this way to make a careful preparation for each lesson.

The script work in the book was done by Mr. Rajmiond G. Laird, Head Master, Roxbury High School, Boston, to whom the author is indebted for many helpful suggestions in the preparation of the book.

CHARLES F. RITTENHOUSE. 300 The Fenway, Boston, Massachusetts.

August 1, 1915.