Synopsis
Since the publication of the second edition of this book in 1916, the fluctuations in financial and business conditions have been more violent than during any previous five years in the history of the world. We have had unparalleled inflation and partial deflation. Tax rates have been so high that nearly seveneighths of the net incomes of some taxpayers for one year were paid in taxes. Notwithstanding the extraordinary tax levies, the annual net incomes remaining to many taxpayers after allowance for taxes exceeded their incomes of prior years. Some concerns are worse off financially in 1921 than in 1916; they made large paper profits and distributed only a small portion of their realized profits in dividends, but they overexpanded or they were not prepared for the rapid fall in prices. Conservative concerns paid relatively higher taxes than those which had never pursued conservative policies. Professional auditors occupied responsible, arduous, and useful positions throughout the five years. In theW orld War they were found in the trenches, in aeroplanes, and in vessels on and under the water. Those who were not allowed to fight the enemy. abroad, fought him at home. The war was won in more ways than one. The professional auditor did his duty to his country and to his profession. The profession met the test of war and inflation and has tremendously increased in prestige. There is no longer any doubt regarding the value of the services of the professional accountant. What of the future? Have we learned anything? Did any of our theories fail in application at critical times? An inclusive answer can be made. In serving others, accountants have served themselves. The future is bright because we have profited by our mistakes.
(Typographical errors above are due to OCR software and don't occur in the book.)
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Auditing Theory and Practice, 1922, Vol. 1 of 2 (Classic Reprint)
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Paperback. Condition: New. Print on Demand. The pinnacle of introductory and intermediate accounting, this book provides an understanding of the theory and practice behind the fundamentals of financial accounting. It offers insight into professional ethics, tax laws, current auditing procedures, and other principles that govern accounting practices. The authorās clear prose and thoroughness make this book an excellent resource for students as well as established professionals seeking to brush up on their accounting knowledge. This book will sharpen your accounting skills and boost your confidence in your ability to complete even the most challenging accounting tasks. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Seller Inventory # 9781440032554_0
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Auditing Theory and Practice, Vol 1 of 2 Classic Reprint
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781440032554
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Auditing Theory and Practice, Vol 1 of 2 Classic Reprint
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781440032554