Accounting Theory and Practic, Vol. 1: A Text-Book for Colleges and Schools of Business Administration (Classic Reprint) - Hardcover

Kester, Roy B.

9780331948059: Accounting Theory and Practic, Vol. 1: A Text-Book for Colleges and Schools of Business Administration (Classic Reprint)

Hardcover

ISBN 10: 0331948052 ISBN 13: 9780331948059

Publisher: Forgotten Books, 2018

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Excerpt from Accounting Theory and Practic, Vol. 1: A Text-Book for Colleges and Schools of Business Administration

The basic soundness of the method of instruction in Accounting developed in this book has received substantial demonstration throughout five years of test. The Introduction to the first edition contained the following statement regarding the development of the subject:

"The method of approach as given in this volume is perhaps not orthodox but it has seemed that the student, given an understanding of the purpose which the accounting records are to serve, will be able to make that record with real intelligence instead of by rule-of-thumb. Accordingly, the balance sheet and the profit and loss statement are presented first, as the goal towards which all record-keeping looks. The student is taught to analyze business facts and conditions from the very beginning. He is then led, step by step, through the use of non-technical terms, into the ledger, where he sees the way in which the data which he has been using are summarized. The books of original entry are next explained, and the method by which the information is classified as it is brought onto the books. Finally, the business papers and documents which constitute the source of all entries are described."

To quote again from the original Introduction: "The subject is developed in such a way that the student knowing something of bookkeeping has little or no advantage over the one without such knowledge. This book has been written for the use of students in our colleges and universities desiring a first course in accounting. It gives the scope of the work in accounting offered in the first year of the School of Business of Columbia University."

The method then advocated and used in a few institutions has become quite generally accepted.

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