August 1964

In Three Section!

B U L L E T I N

Tor the3 &n a g e m e n t A c w u n t a n t

Topical Indez to Volume XLVNAA Bulletin, Section 1

and Research Reports

September, 1963—August, 1964NATIONAL ASSOCIA' ON

OF AvCOUNTANTS

L i Y am

AccountingAc c o u nt a n t as a Wi tn ess, T he. ROBERT W. CHERRY. O c to be r 1963.Ac c ou n ta n t ' s Bu si ness wi t h Bu s ine ss La w , T he. CARL F. SCHILLING.

S e p t e m b e r 1963.Ac c ou n t a n t s a n d Ec on om is t s Mu s t J o i n For ce s. K. M. MAYER. Ap r i l

1964.Accou nt ing — Uti li t ar ia n, Sym bol ic , Sele ct i ve . A. DEAN W I L L O C K .

M a r c h 1964.Ac h ie v in g a Res po ns ib i l i ty B a s i s fo r M a n a g e m e n t P e r fo r m a n c e E v a l -

u a t ion . W. JOSEPH BLOOD. S e p t e m b e r 1963.D y n a mi c s of M a n a g e m e n t Acc ou n t in g, T he. DUDLEY E. BROWNE.

S e p t e m b e r 1963.F o r m u l a t i n g the Pr i nc ip le s. TED M. RABUN. J u n e 1964.Ma n a g e r i a l As pe ct s of the Ac c ou n ta n t ' s J o b . BERNARD H. SEMLER.

J u l y 1964.Resp ons ib i l i ty Ac co u n t i ng a n d the Co nt r i b u t io n Ap p r o a c h . W I L L I A M

L. FERRARA. D e c e m b e r 1963.T owa rd a T heory o f Respons ib i l i ty Accou nt i ng System s. M. J . G O RD O N .

D e c e m b e r 1963.

Accounting Systems (See Systems and Procedures)

Accounts ReceivableLe v e l i n g Ca sh F l o w th r ou g h a Me ch a ni ze d Re ce iv a b le S y s t e m . W m -

LIAM A. DONOHUE a n d ERWIN KAUFMAN. S e p t e m b e r 1963.One -Wr i t e S y s t e m for O r d e r Ent ry / I nvoicing a n d I n v e n t o r y Cont rol ,

A. B. J . Roger s. J u l y 1964.

Airplane Construction & TransportationIm p o r t a n c e o f t h e D i s t i n c t i o n b e t w ee n F i x e d a n d V a r i a b l e C o s t s , T h e .

RICHARD F. PEIRCE. Ma y 1964.Role of the C o m p u t e r in Ai r l in e Acc ou nt in g. DONALD W. THOMSON.

F e b r u a r y 1964.

Assets —Fixed (See also Depreciation, Depletion and Amortization andReturn on Investment)Ad m i n i s t e r i n g a T est E q u i p m e n t Pool . J . J . FINERTY. J a n u a r y 1964.Capi ta l Budget ing for Improved Profits . WENDELL M. CHILDS. May 19 64.

Ca pi t a l Bu d ge t in g of Oil P ipe l in es. WILLIAM E. SWYERS. Ma y 1964.Ex e cu t io n of the N onfina ncia l Lea se —An Ac co u n t i ng T ra nsa ct i on?

T he. GERALD ALVIN. N o v e m b e r 1963.

Auditing (See also Internal Auditing)Al loc a t ion of S h a r e d In s u r a n c e Cost s. SAM E. COLVARD. A u g u s t 1964.Coordina t ing In ter na l a nd E xterna l Au di t ing . J AMES F. H UG H ES. O ct o-

b e r 1963 (L e t t e r of co m m e n t DUGAN Februa ry 1964)

Balance Sheets (See Financial Statements)

Break -Even PointsPl a nn i ng , Feedba ck —a nd Cont rol . ROBERT J . DONACHIE. Ma r c h 1964

(L e t t e r of co m m e n t WADDEN Au g u s t 1964).

AUGUST 1964 3

BudgetsBu d ge t s Sh o u l d be Pe o p l e O r ie nt ed . RAY M. POWELL a nd JOHN A.

MACLEOD. S e p t e m b e r 1963 (Letter of comment CROWN J a n u a r y1964).

Capita l Budgeting for Improved Profits. WENDELL M. CHILDS. 1V.Iay 1964.

Ca pi t a l Bu d ge t in g of Oil P ip el ine s. WILLIAM E. SWYERS. M a y 1964.

Im p o r t a n c e o f t h e D i s t in c t i o n B e t w e e n F i x e d a nd V a r i a b l e C y s t s , T h e .RICHARD F. PEIRCE. Ma y 1964.

MECCA — Matrix Ex t r a ct i o n Cost Con t r ol Ap p r o a c h . PAUL 1'. SMITH.O c to be r 1963.

Pl a n ni n g , Feedba ck —a nd Cont rol . ROBERT J . DONACHIE. M a r c h 1964(Letter of comment WADDEN Au g u s t 1964).

Se t t i n g U p a Fl e x ib l e Bu d ge t . A. E. WEROLIN. J a n u a r y 1964.S h o r t a n d L o n g -T e r m F o r w a r d P l a n n i n g B a s e d o n C o n t r i b u t i o n M a r -

gin . JOHN B. BACHOFER. Ma r c h 1964.T oo S m a l l to Bu d ge t . JAY H. GORDON. Ap r i l 1964.

Var ia t ion Analysi s — Control a t Work. JO HN B. BACHO FER. Augu st 1964.

Cash FlowFin a n ci a l Sta tem ent —H ow Rel ia ble? ANDREW BARR. S e p t e m b e r 1963.F u n d a m e n t a l s of S h o r t a n d Long -T erm Ca sh For ec a st in g . WILLIAM

H . LUNDQUIST. Ap r i l 1964.

Le ve l in g Ca sh F l o w T h r o u g h a Me c ha n iz e d Re ce iv a b le S y s t e m .WILLIAM A. DONOHUE a n d ERWIN KAUFMAN. S e p t e m b e r 1963.

W h e n P l a n n i n g Co nt r a c t Pr od u c t i on , A d d the Fi na nc ia l D i m en s io n .OSCAR T. ODEGAARD. J u n e 1964.

ChemicalsCapita l Budget ing for Improved Profi ts. WEND ELL M. CHILDS. May 196 4.

CorkG u i d e to Q u a n t i t y Pu r c h a s i n g Decisions, A. THEODORE G. WEEKS.

S e p t e m b e r 1963.

Cost Accounting (See also Training of Industrial Accountants)Bu t the O ld P r o b l e m s Re m a i n . MARION A. SIMPSEN. F e b r u a r y 1964.Co m pu t er s , Co nt ro l l er s a n d Co m pe t e nc e . ARTHUR L. MALCARNEY.

Ma r c h 1964.Co nt i nu in g Ch a l l e ng e to the M a n a g e m e n t Ac co u n ta nt , T he. CLARENCE

L. DUNN. M a r c h 1964.

I t I s a C o m p a n y . HARRY D. KERRIGAN. S e p t e m b e r 1963.M a n a g e m e n t Ac co u nt in g in the A g e of Sy s t em s . JOHN A. BECXETT.

A p r i l 1964.

Cost Control and ReductionAu d i t of a G o v e r n m e n t a l Cost Re du ct io n P r o g r a m . DANIEL BORTH.

Au g u s t 1964.Con t r ol of M a i n t e n a n c e Cost. Re se a rc h Re p o r t No. 41. M a y 1, 1964.Con t r ol Re p o r t P a c k a g e for a n Oi l Pr o d u c i n g C o m p a n y . JOHN V.

LAFFERTY. N o v e m b e r 1963.

4 NAA BULLETIN

M a n a g e m e n t C o s t C o n t r o l S y s t e m f o r I n d u s t r y , A . J . H. CARTER, JR .

J a n u a r y 1964.M E C C A — M a t r i x E x t r a c t i o n C o s t C o n t r o l A p p r o a c h . PAUL T. SM IT H,

O c t o b e r 1963.N e w L o o k a t M o n t h l y C o m p a r i s o n s , A — A C a s e S t u d y . EDWIN M .

KANI A. J a n u a r y 1964.O p e r a t i o n a l C o n t r o l o f T o t a l E f f o r t . WI LLIAM C. RAMSGARD. J u l y 1964.P r o g r a m C o s t C o n t r o l S y s t e m s . JOHN F. M cN E I L. J a n u a r y 1964.

Cost - Volume- Profit Relationship (See Break -Even Points and Budgets)

CreditC o m p u t e r A c c o u n t i n g R e p o r t s i n a L a r g e C r e d i t U n i o n . PATRICK N .

BRAUNAGEL. M a y 1964.E x p e d i t i n g C r e d i t a n d C o l l e c t i o n s by C o m p u t e r P r o c e s s i n g . LLOYD F.

BIELENBERG a n d A . T. O'ROUR KE . M a y 1964.P r o f i t a b i l i t y A p p r o a c h t o C r e d i t Policy, T h e . WI LLIAM E . ARNSTEIN.

O c t o b e r 1963 (Letters of comment F R O M M E R J a n u a r y 1964, MILLERM a r c h 1964).

Data Processing EquipmentA u t o m a t i o n a n d t h e F u t u r e of A c c o u n t i n g . ARTHUR E. CARLSON.

A u g u s t 1964.C o m m u n i c a t i n g w i t h P r o g r a m m e r s . G. E. LOUVAU. A p r i l 1964.C o m p u t e r — A B u s i n e s s I n t e l l i g e n c e U n i t , T h e . JOHN M . COX. O c t o b e r

1963.C o m p u t e r A c c o u n t i n g R e p o r t s i n a L a r g e C r e d i t U n i o n . PATRICK N .

BRAUNAGEL. M a y 1964.C o m p u t e r C o n t r o l l e d o r C o n t r o l l e d C o m p u t e r ? ROBERT F . VAN LOON.

M a y 1964.C o m p u t e r , C o n t r o l l e r s a n d C o m p e t e n c e . ART HU R L. MALCARNEY. M a r c h

1964.C o m p u t e r s — S o m e L e g a l A s p e c t s . WI LLIAM H. KEOUGH. F e b r u a r y 1964.C o n t r o l s i n E l e c t r o n i c D a t a P r o c e s s i n g . BERNARD W . ZIESSOW. J a n u a r y

1964 (Letter of comment J . M . BELLINGHAUSEN M a y 1964).E l e c t r o n i c D a t a P r o c e s s i n g — A 10- Y e a r P e r s p e c t i v e . H. WARREN WHITE.

A p r i l 1964.E l e c t r o n i c D a t a P r o c e s s i n g a s I t A f f e c t s t h e A c c o u n t a n t . J OHN E .

JOHNSON. D e c e m b e r 1963.E x p e d i t i n g C r e d i t a n d C o l l e c t i o n s b y C o m p u t e r P r o c e s s i n g . LLOYD F.

BIELENBERG a n d A . T. O'ROUR KE . M a y 1964.L e v e l i n g C a s h F l o w T h r o u g h a M e c h a n i z e d R e c e i v a b l e S y s t e m .

WI LLIAM A . DONOHUE a n d ERW IN KAU F MAN . S e p t e m b e r 1963.M a c h i n e A c c o u n t i n g f o r a S m a l l M a n u f a c t u r e r — A C a p s u l e C a s e .

ROLAND REED. O c t o b e r 1963.P a y r o l l P r o b l e m s S o l v e d T h r o u g h U s e of E D P . J OHN L . KELLY. J u n e

1964.P e r s p e c t i v e o n A c c o u n t i n g M a c h i n e s a n d P e o p l e . RANSOM H. GU R -

GANUS. O c t o b e r 1963.R o l e o f t h e C o m p u t e r i n A i r l i n e A c c o u n t i n g , T h e . DONALD W . T H O M -

SON. F e b r u a r y 1964.

AUGUST 1964 5

S t a n d a r d Cost S y s t e m Up -D a ted by the Co m p u t e r , A. HOMER E.STONE. Ma r c h 1964.

Usi ng the Co m p u t e r . G. CURTIS CARNAHAN. Au g u s t 1964.

Delivery Expenses (See Distribution)

Department StoresInv ent ory - T a k i ng in a D e p a r t m e n t St or e . DONALD K. MEADOWS.

J u l y 1964.

Depreciation, Depletion and Amortization (See also Assets — Fixed)Accou nt ing for Deprecia tion and Repa ir Cost s . G EO RG E L . BAT I ISTA and

GERALD L. CROWNINGSHIELD. D e c e m b e r 1963.

Compos i t e- D epreci a t ion Pr o c e du r e , A. KENNETH R. YORK. J u n e 1964.

D ep re cia t i on a n d Rep la cem en t— Ch a ng es a n d Pr os pe ct s . MAURICE E.PELOUBET. D e c e m b e r 1963.

D epreci a t ion a nd the N ew G u idel ine s. FRAN CIS P . H E R M A N S . D e c e m b e r1963.

N e w D e v e l o p m e n t s on D ep rec ia t ion G u id el in es. PAUL V. HARRIS.J u n e 1964.

Development Expense (See Research and Development Costs)

Direct CostingAb so rp t i on , D i rect or Re l e v a n t Cost ing . MICHAEL SHEGDA a n d HYMAN

WEINBERG. Au g u s t 1964.D i r ect S t a n d a r d Cost ing —Case of the " X " W i r e a n d Ca b le C o m p a n y ,

T h e. WILMER WRIGHT. N o v e m b e r 1963.F o u n d r y Cos t i ng Ut i l i z i ng D i rect Costs . RICHARD H. S @UIER. F e b r u a r y

1964 (L e t t e r of c o m m e n t N E W C O M E R Au g u s t 1964).

G i v e Con si de ra t i on to D i r ect Cost ing for E x t e r n a l Re p or t in g . JOHNR. E. PARKER. O c to be r 1963.

H e l p i n g M a n a g e m e n t C h o o s e B e t w e e n D i r e c t a n d A b s o r p t i o n C o s t i n g .J . H. SCHLOSSER, JR. N o v e m b e r 1963 (L e t t e r s of c o m m e n t CREECH1964, REININGA Ap r i l 1964).

Im p o r t a n c e o f t h e D i s t in c t i o n B e t w e e n F i x e d a nd V a r i a b l e C o s t s , T h e .RICHARD F. PEIRCE. M a y 1964.

S h o r t a n d Long -T erm F o r w a r d P l a n n i n g Ba se d on Co n t r i bu t io nMa rg in . JOHN B. BACHOFER. Ma r c h 1964.

Distribution (See also Sales Analysis and Control)N eed for D is t r i bu t ion Cost Acc ou nt in g. ALAN J . HORTON. Ap r i l 1964.O ne -Wr i t e S y s t e m for O r d e r Ent r y / I nvoi cing a n d I n v e n t o r y Cont rol ,

A. B. J . ROGERS. J u l y 1964.

EconomicsAc c ou n t a n t s a n d Ec on om is t s Mu st J o in Forc es. K . M. MAYER. Ap r i l

1964.

Electrical ManufacturingD e v e l o p m e n t a n d Po te n t i a l s of a F o r m u l a Es t i m a t i n g Ca p a bi l i t y .

KEITH E. MARVIN. O c to be r 1963.Ex p e d i t i n g Cr e di t a n d Col lect ions by C o m p u t e r Pro ces sin g. LLOYD

F. BIELENBERC a n d A. T . O'ROURKE. Ma y 1964.

6 NAA BUI.LETIN

H o w W e A p p r a i s e New - Produ ct Pro po sa l s . JACK L. FO R R E ST E R .

N o v e m b e r 1963.M a n a g e m e n t C o s t Co nt ro l S y s t e m fo r I n d u s t r y , A. J . H . CARTER, JR.

J a n u a r y 1964.Va l u e Engineer ing —A N e w O p p o r t u n i t y in D e fe n s e Co nt r a ct in g .

RAYMOND B. JORDAN. A p r i l 1964.

Electronic Data Processing (See Data Processing Equipment)

Estimating (See also Budgets and Forecasting)D e v e l o p m e n t a n d Po te nt i a l s of a F o r m u l a Es t im a t i n g Ca pa bi l i ty .

KEITH E. MARvIN. O c to be r 1963.

Financial ControlF u n d a m e n t a l s of S h o r t a n d Long -T erm Ca s h For ec a st in g . WILLIAM

H . LUNDQUIST. A p r i l 1964.T es t i ng Fi n a n c ia l O bje ct iv es. DONALD E. CHAPMAN. O c t ob e r 1963.

Financial Statements (See also Reports)A r e T h e r e T w o K i n d s o f S t o c k D i v i d e n d s ? DEAN S. EITEMAN. O c to be r

1963 (Letter of comment BERGHIAN Ap r i l 1964).

Ba l a n c e Sheet —An E q u a l P a r t n e r , T h e. DANIEL L. McDONALD. F e b -r u a r y 1964.

Ba l a n c e S h e e t a n d I n c o m e Sta tement — Ana lyti cal ly Coo rdi na t e , T h e.STEPHEN A. ZEFF. F e b r u a r y 1964.

Ca v e a t E m p t o r T a bu la s. GEORGE J . STAUBUs. F e b r u a r y 1964.

Ex e c u t i o n of the N onfina ncia l Lea se —An Ac c ou n t i n g T ra nsa ct i on?T h e. GERALD ALvIN. N o v e m b e r 1963.

Fina ncia l S ta tements —How Rel iable? ANDREW BARR. September 19 63.Fi n a n c ia l S t a t e m e n t s of th e G r a i n a n d F l o u r Me r c h a n t s . H . DWIGHT

GEIGER. J u n e 1964.G i v e Co ns id er a t io n to D i re ct Cost ing for E x t e r n a l Re po r t i ng . JOHN

R. E. PARKER. O c t ob e r 1963.Us e of I n d e x N u m b e r s for Ap p r a i s i n g M a n a g e m e n t P e r fo r m a n c e .

JOEL ZELNICK. S e p t e m b e r 1963.

Fixed Assets (See Assets— Fixed)Food

Fi n a nc i a l S t a t e m e n t s of th e G r a i n a n d F l o u r Me r c h a n t s . H . DWIGHTGEIGER. J u n e 1964.

Forecasting (See also Budgets)F u n d a m e n t a l s of S h o r t a n d Long -T erm Ca sh For ec a st in g . WILLIAM

H . LUNDQUIST. Ap r i l 1964.

FoundriesFo u n d r y C o s t i n g U t i l i z i ng D i r e c t C o s t s . RICHARD H. S@UIER. F e b r u a r y

1964 (Letter of comment NEWCOMER A u g u s t 1964).S t e e l F o u n d r y Cost ing a n d th e Re si du a l Me t a l Cost Co nc ep t . ROBERT

E. SUTHERLAND. M a y 1964.

GlassUs in g th e C o m p u t e r . G . CURTIS CARNAHAN. A u g u s t 1964.

AUGUST 1964 7

Government ContractsCo n t ra c t Termina t ion — Accou nting Po i n t of Vie w, T he. WILLIAM J .

RILEY. J a n u a r y 1964 (L e t t e r of co m m e n t NESBITT M a y 1964).Keeping Competi t ive in Pri c ing Defense Cont r act s . CHARLE: ; L . PET ERS.

Ap r i l 1964 (L e t t e r of co m m e n t FRENCH J u l y 1964).Va l u e Engineer ing —A N e w O p p o r t u n i t y in D e fe ns e Con t r a ct in g .

RAYMOND B. JORDAN. Ap r i l 1964.W h e n P l a n n i n g Co nt r a ct Pr od u ct i on , A d d the Fin a n ci a l D i me ns io n.

OSCAR T. ODEGAARD. J u n e 1964.

Government UnitsAu d i t of a G o v e r n m e n t a l Cost Red u c t i on P r o g r a m . DANIEL BORTH.

Au g u s t 1964.

Graphs (See Statistical and Mathematical Methods)

InsuranceRisk Mana gement and the Accou nta nt. CLAREN CE J . N ELSO N. Ju ly 1964.

Insurance CompaniesAl loca t ion of S h a r e d In s u r a n c e Costs . SAM E. COLVARD. Au g u s t 1964.

Integrated Data Processing (See Data Processing Equipment and Systemsand Procedures)

Internal Auditing (See also Auditing)O p er a t io na l Au d i t i n g in Pra ct i ce . JAMES R. EVANS. J u n e 1964.

Internal ControlIn t e r n a l Co nt ro l for the Rea l ly S m a l l C o m p a n y . ALAN E. LARGIN.

M a r c h 1964.

Interunit AccountingAl loc a t ion of S h a r e d In s u r a n c e Costs . SAM E. COLVARD. Au g u s t 1964.Cent r a l i zed Procedu re to Cont ro l Sa les- a nd - Service Bra nches. H ARO LD

F. WILLIS. F e b r u a r y 1964 (L e t t e r of c o m m e n t BEYER J u n e 196 4).Resp ons ib i l i ty Ac co u nt in g a n d the Co nt r i bu t i on Ap p r o a c h . WILLIAM

L. FERRARA. D e c e m b e r 1963.

InventoriesCost s for I n v e n t o r y Co nt ro l a n d Pr o d u ct i o n P l a n n i n ; . MICHAEL

SHEGDA a n d HYMAN WEINBERG. J u l y 1964.Ec on om ic O r d e r Q u a nt i ty— Eu ropea n Pra ct i ce . ANTON M. GROOT a n d

ANTON M. GROOT, JR. M a y 1964.H o w W e Con t r ol S low- Moving a n d O bs ole te In v e n to r y . GERARD J .

DOPLER. N o v e m b e r 1963 (L e t t e r of c o m m e n t MARTZ March 196 4).Inv en tor y- T a k i ng in a D e p a r t m e n t St or e . DONALD K. MEADOWS. J u l y

1964.O ne -Wr i t e S y s t e m for O r d e r Ent ry / I nvoicing a n d I n v e n t o r y Cont rol ,

A. B. J . ROGERS. J u l y 1964.Re d u ci n g I n v e n t o r y I n v e s t m e n t in a Mu l t i p l a n t C o m p a n y . EDWARD

T. BREARTON a n d CASS O. LANDON. N o v e m b e r 1963.R e d u c i n g M o n t h s o f I n v e n t o r y on H a n d in a S m a l l C o m p a n y . ROBERT

E. NEWBERG. N o v e m b e r 1963.T e c hn i qu e s in I n v e n t o r y M a n a g e m e n t . Re se a r ch R e p o r t No. 40. F e b -

r u a r y 1, 1964.

8 NAA BULLETIN

Iron and SteelH o w W e Con t r ol Slow- Moving a n d O bs ole te In v e n to r y . GERARD J .

DOPLER. N o v e m b e r 1963 (L e t t e r of comment MART Z Ma rch 1964).Ma in ta in in g t h e A d e q u a c y a n d A c c u r a c y o f S t a n d a r d Cost s. PERCY C.

CARTER. March 1964 (L e t t e r s of comment SLAGER June 1964, KRUSEJ u n e 1964, NORWOOD Au g u s t 1964).

S t ee l F o u n d r y Cost ing a n d the Res idu a l Me ta l Cost Conc ept . ROBERTE. SUTHERLAND. Ma y 1964.

Job EvaluationAc h i e v i n g a R e s p on s i b i l i ty B a s i s fo r M a n a ge m e n t P er fo r m a n ce E v a l u -

at ion . W. JOSEPH BLOOD. S e p t e m b e r 1963.Con t r ol of Ma i n t e n a n c e Cost. Re s e a r c h Re p o r t No. 41. Ma y 1, 1964.

Machine ToolsRe du ci ng I n v e n t o r y I n v e s t m e n t in a Mu l t i p l a n t Co m p a n y . EDWARD T.

BREARTON a n d CASS O. LANDON. N o v e m b e r 1963.

Machinery ManufacturingCent ra l i zed Pr oced u re to Con t ro l Sa les- a n d - Ser vice Br a nch es. HAROLD

F. WILLIS. F e b r u a r y 1964 (L e t t e r of co m m e n t BEYER J u n e 1964).Cont rol l er 's Pa r t ic ipa t ion in P la nning a nd Control , A. ALLAN C. CRAN E.

J u l y 1964.One -Wr i t e S y s t e m for O r d e r Ent ry / I nvoicing a n d I n v e n t o r y Cont rol ,

A. B. J . ROGERS. J u l y 1964.

Maintenance (See Repairs and Maintenance)

ManagementAc hi ev in g a Respo nsib i l i ty Ba si s fo r M a n a g e m e n t P e r f o r m a n c e E v a l -

u a t ion . W. JOSEPH BLOOD. S e p t e m b e r 1963.Co nt in u i ng Ch a l l e ng e to the M a n a g e m e n t A c c o u n t a n t , T he. CLARENCE

L. DUNN. M a r c h 1964.M a n a g e m e n t Ac co u nt in g in the A g e of Sy s t em s . JOHN A. BECKETT.

A p r i l 1964.M a n a g e m e n t Sci en ce a n d Acc ou n t in g. JOSEPH A. MAURiELLO. J a n u a r y

1964.Ma n a g e r i a l Asp ec t s of the Ac c ou n ta n t ' s J o b. BERNARD H. SEMLER.

J u l y 1964.Q u a l i fy ing for the M a n a g e m e n t T e a m . JOHN J . DOUGLAS. S e p t e m b e r

1963 (L e t t e r of c o m m e n t HOFFRAUER J a n u a r y 1964).W h a t th e I n v e s t m e n t Cr ed i t M e a n s to the M a n a g e m e n t Ac co u n ta nt .

PORTER W. HENDERSON a n d HORACE R. BROCK. D e c e m b e r 1963.

ManualsW r i t e to b e Rea d. JARED ELLIOT. J a n u a r y 1964.

Mergers and AcquisitionsFi na nc ia l Sta tem ent s — H ow Rel ia ble? ANDREW BARR. S e p t e m b e r 1963.

Metal WorksRe du ci ng Mo n t h s o f I n v e n t o r y o n H a n d in a S m a l l Co m p a n y . ROBERT

E. NEWBERG. N o v e m b e r 1963.

Non-Ferrous MetalsN e w Lo ok at Mo n t h l y Compar i sons —A Ca se St u d y, A. EDWIN M.

KANiA. J a n u a r y 1964.

AUGUST 1964

OilC a p i t a l B u d g e t i n g of Oil P i p e l i n e s . WI LLI AM E. SWYERs. M a y 1964.C o n t r o l R e p o r t P a c k a g e f o r a n Oil P r o d u c i n g C o m p a n y . J OHN V.

LAFFERTY. N o v e m b e r 1963.

Operations Research (See Statistical and Mathematical Methods)

PartsR e d u c i n g M o n t h s of I n v e n t o r y o n H a n d i n a S m a l l C o m p a n y . ROBERT

E . NEWBERG. N o v e m b e r 1963.

Payroll AccountingP a y r o l l P r o b l e m s S o l v e d T h r o u g h U s e of E D P . J OHN L . KELLY. J u n e

1964.

PersonnelB u d g e t s S h o u l d B e P e o p l e - O r i e n t e d . RAY M . POW ELL a n d JOHN A .

MACLEOD. S e p t e m b e r 1963 (Letter of comment CROWN J a n u a r y

1964).

PharmaceuticalsD o You N e e d t o R e v i e w Y o u r I n t e r n a l R e p o r t s ? ROBER T A. JAMEY SON.

A p r i l 1964 (Letter of comment EGAN J u l y 1964).L e v e l i n g C a s h F l o w T h r o u g h a M e c h a n i z e d R e c e i v a b l e S y s t e m .

WI LLI AM A . DONOHUE a n d ERW IN KAU F M AN . S e p t e m b e r 1963.

PricingK e e p i n g C o m p e t i t i v e i n P r i c i n g D e f e n s e C o n t r a c t s . CHARLES L. PETERS.

A p r i l 1964 (Letter of comment FRENCH J u l y 1964).

Product Cost and AppraisalA c c o u n t a n t ' s C o n t r i b u t i o n t o V a l u e E n g i n e e r i n g , T h e . J OHN W. K E N -

NING J u l y 1964.E v a l u a t i n g V a l u e A n a l y s i s . Tommy P. HALL a n d LEON H. ROBERTSON.

F e b r u a r y 1964.H o w W e A p p r a i s e N e w - P r o d u c t P r o p o s a l s . J A c x L . F O R R E S T E R . N o v e m -

b e r 1963.S e q u e n t i a l P r o f i t M e a s u r e m e n t = O p t i m u m P r o f i t . WI LLI AM LANGEN-

BERG. J u n e 1964.V a l u e E n g i n e e r i n g — A N e w O p p o r t u n i t y i n D e f e n s e C o n t r a c t i n g .

RAYMOND B . JORDAN. A p r i l 1964.

Production Control (See Production Planning and Control)

Production MeasurementM a n a g e m e n t C o s t C o n t r o l S y s t e m f o r I n d u s t r y , A . J . H . CARTER, J R .

J a n u a r y 1964.

Production Planning and ControlM a k i n g t h e P r o p e r M a k e - o r - B u y D e c i s i o n . EDWIN F . WARD. J a n u a r y

1964.P r o g r a m C o s t C o n t r o l S y s t e m s . JOHN F. M cN E I L. J a n u a r y 1964.R e d u c i n g I n v e n t o r y I n v e s t m e n t i n a M u l t i p l a n t C o m p a n y . EDWARD

T . BREARTON a n d CASS O. LANDON. N o v e m b e r 1963.S i m u l a t i o n — M a n a g e m e n t ' s L a b o r a t o r y . WALTER KEN NON. A p r i l 1964.U s e of P E R T i n S y s t e m s D e s i g n . DONALD G. PERRY. A u g u s t 1964.

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ProfessionsM a n a g e m e n t R e p o r t i n g f o r t h e P r o f e s s i o n a l S e r v i c e O r g a n i z a t i o n .

JOHN B . FARRELL. J a n u a r y 1964.

Profits (See also Break -Even Points, Budgets, Product Cost and Appraisaland Return on Investment)C o n t r o l l e r ' s P a r t i c i p a t i o n i n P l a n n i n g a n d C o n t r o l , A . ALLAN C. CRANE.

J u l y 1964.P l a n n i n g F e e d b a c k — a n d C o n t r o l . ROBERT J . DONACHIE. M a r c h 1964

(L e t t e r of co m m e n t WADDEN A u g u s t 1964).P r o f i t a b i l i t y A p p r o a c h t o C r e d i t Pol ic y , T h e . WI LLIAM E . ARNSTEIN.

O c t o b e r 1963 (L e t t e r s of co m m e n t F R o M M E R J a n u a r y 1964, MILLER

M a r c h 1964).S e q u e n t i a l P r o f i t M e a s u r e m e n t O p t i m u m P r o f i t . WI LLI AM LANGEN-

BERG. J u n e 1964 .S h o r t a n d L o n g - T e r m F o r w a r d P l a n n i n g B a s e d o n C o n t r i b u t i o n

M a r g i n . JOHN B . BACHOFER. M a r c h 1964.V a l u e s o f P r o f i t P l a n n i n g . PETER A . NOLL a n d EDWARD A . RADETSKY.

F e b r u a r y 1964.W h e n P l a n n i n g C o n t r a c t P r o d u c t i o n , A d d t h e F i n a n c i a l D i m e n s i o n .

OSCAR T. ODEGAARD. J u n e 1964.

PurchasingC o s t s f o r I n v e n t o r y C o n t r o l a n d P r o d u c t i o n P l a n n i n g . MICHAEL

SHEGDA a n d HY M AN WEINBERG. J u l y 1964.E c o n o m i c O r d e r Q u a n t i t y — E u r o p e a n P r a c t i c e . ANTON M . GROOT a n d

ANTON M . GROOT, JR . M a y 1964.G u i d e t o Q u a n t i t y P u r c h a s i n g D e c i s i o n s , A . THEODORE G . WEE KS.

S e p t e m b e r 1963.M a k i n g t h e P r o p e r M a k e - o r - B u y D e c i s i o n . EDWIN F . WARD. J a n u a r y

1964.P r e p a i d P u r c h a s i n g of S i n g l e - S h i p m e n t O r d e r s . WI LLIAM F . STARN.

A p r i l 1964 (L e t t e r s of co m m e n t NE FF J u l y 1964, NORTON A u g u s t

1964).T e c h n i q u e s i n I n v e n t o r y M a n a g e m e n t . R e s e a r c h R e p o r t N o . 40. F e b -

r u a r y 1, 1964.

Radio and TelevisionA d m i n i s t e r i n g a T e s t E q u i p m e n t Pool. J . J . FINERTY. J a n u a r y 1964.C o m p o s i t e - D e p r e c i a t i o n P r o c e d u r e , A . KENNETH R . YORK. J u n e 1964.M E C C A — M a t r i x E x t r a c t i o n C o s t C o n t r o l A p p r o a c h . PAUL T . SM I T H.

O c t o b e r 1963.P r o g r a m C o s t C o n t r o l S y s t e m s . JOHN F . MCN EI L. J a n u a r y 1964.S t a n d a r d C o s t S y s t e m U p - D a t e d b y t h e C o m p u t e r , A. HOMER E .

STONE. M a r c h 1964.

Ratios and Charts (See Statistical and Mathematical Methods)

Repairs and MaintenanceA c c o u n t i n g f o r D e p r e c i a t i o n a n d R e p a i r C o s t s . GEORGE L . BATTISTA

a n d GERALD R . CROWNINGSHIELD. D e c e m b e r 1963.C o n t r o l o f M a i n t e n a n c e C o s t . R e s e a r c h R e p o r t N o . 41. M a y 1, 1964.

AUGUST 1964 11

Reports (See also Financial Statements)Br a i n P o w e r P l u s Co mm u ni ca t io ns . DONALD E. LuHRSEN. F e b r u a r y

1964.C o m m u n i c a t i n g wi t h P r o g r a m m e r s . G. E. LOUVAU. Ap r i l 1964.

Con t r ol Re p o r t Pa c k a g e for a n Oil Pr o d u c i n g Co m p a n y . JOHN V.LAFFERTY. N o v e m b e r 1963.

D o Y o u N e e d t o R e v i e w Y o u r I n t e r n a l R e p o r t s ? ROBERT A. JAMEYSON.A p r i l 1964 (L e t t e r of co m m e n t EGAN J u l y 1964).

M a n a g e m e n t Re p o r t i n g for the Pr ofes s io na l Se r vi c e O rga niz a t i on .JOHN B. FARRELL. J a n u a r y 1964.

N e w Look a t M o n t h l y Compar i sons —A Ca se St u d y, A. EDWIN M.KANIA. J a n u a r y 1964.

O p er a t io na l Cont rol of T ota l Effor t . WILLIAM C. RAMSCARD. J u l y 1964.Seven D e a dly S in s in Co mmu nica t ions, T h e. J . P . WARREN . Ma rch 1964.

S h o r t a n d Long -T erm F o r w a r d P l a n n i n g Ba s ed on Co nt r i b u t io nMa rg in . JOHN B. BACHOFER. M a r c h 1964.

S h o r t e n i n g the D ist a nce B e t w e e n Book a n d T a x a b l e In co me . HAROLDQ. LANCENDERFER. F e b r u a r y 1964.

W h o Sh o u l d Con t r ol Informa t ion — Ma na ger s or Specia l i s t s? PAUL R.CONE. J u l y 1964.

Research and Development CostsA d m i n i s t e r i n g a T est E q u i p m e n t Pool . J . J . FINERTY. J a n u a r y 1964.

D esig ning a S y s t e m for Con t r ol of Re se a rc h Cost . ROBERT F. HAR-BRECHT. J u n e 1964,

H o w W e A p p r a i s e New - Produ ct Prop osa l s . JACK L. FORRESTER. N o -v e m b e r 1963.

Return on InvestmentCapita l Budgeting for Improved Profit s. WEN DELL M. CHILDS. May 196 4.

G u i d e to Q u a n t i t y Pu r c h a s i n g Decisions, A. THEODORE G . WEEKS.S e p t e m b e r 1963.

H o w W e Ap p r a i s e New - Produ ct Pro po sa l s . JACK L. FORRESTER. N o -v e m b e r 1963.

Some N otes on Investment Eva lu at ion . ST AN LEY B. HEN RICI . September1963.

Small BusinessI n t e r n a l Con t r ol for the Rea l ly S m a l l C o m p a n y . ALAN E. LARCIN.

M a r c h 1964.R e d u c i n g M o n t h s o f I n v e n t o r y on H a n d in a S m a l l Co m p a n y . ROBERT

E. NEWBERG. N o v e m b e r 1963.

R e n d e r i n g Ai d to Sm a l l Bu siness. DOUGLAS F. HYDE. F e b r u a r y 1964.

Standard CostsMa in t a i n in g t h e A d e q u a c y a n d Ac cu r a c y o f S t a n d a r d Costs . PEF:cY C.

CARTER. March 1964 (L e t t e r s of c o m m e n t SLACER June 1964, KRUSEJ u n e 1964, NORWOOD A u g u s t 1964).

Sta nda rd Cost System Up -D a ted by the Compu ter , A. H O MER E. ST O N E.M a r c h 1964.

Va r ia t ion Analysi s — Control at Work. JOHN B. BACHOFER. August 1964.

12 NAA BULLETIN

Statistical and Mathematical MethodsD e v e l o p m e n t a nd Po te n t i a l s of a F o r m u l a Es t im a t i n g Ca pa bi l i ty .

KEITH E. MARVIN. O c to be r 1963.M a n a g e m e n t Sci en ce a n d Acc ou nt in g. JOSEPH A. MAURIELLO. J a n u a r y

1964.Sim u la t i on— Ma na gem ent 's La b or a t or y . WALTER KENNON. A p r i l 1964.T e c hn i qu e s in I n v e n t o r y M a n a g e m e n t . Re se a rc h R e p o r t No. 40. F e b -

r u a r y 1, 1964.Us e of I n d e x N u m b e r s for Ap p r a i s i n g M a n a g e m e n t P e r fo r m a n c e .

JOEL ZELNICK. S e p t e m b e r 1963.U s e of Sta t i s t i ca l Me t h o d s by Ac co u n t a n t s . THOMAS E. STEIMER.

M a y 1964.

Systems and Procedures (See also Manuals and Work Simplification)Ele ct ron ic D a ta Processing —A 10 -Year Pe r sp e ct i ve . H. WARREN

WHITE. Ap r i l 1964.Opera t iona l Cont ro l O f Tota l Effor t . WILLIAM C. RAMSGARD. J u l y 1964."P l a y s cr i p t " . . . A N e w Tool Ac c o u nt a n t s N eed. ROBERT L. SHULTIS.

A u g u s t 1964.T owa rd a T heory of R esponsib i l i ty Accou nt ing Sys tems. M. J . G O RD O N ,

D e c e m b e r 1963.

Tabulating Machines (See Data Processing Equipment)

TaxesDeprecia t ion and the N ew G uidel ines. FRAN CIS P. H ERMAN S. D ecember

1963.D ep re cia t i on a n d Repl a ce men t— C ha n ges a n d Pr os pe ct s . MAURICE E.

PELOUBET. D e c e m b e r 1963.S h o r t e n i n g th e D is ta n ce B e t w e e n Book a n d T a x a b l e In co me . HAROLD

Q. LANGENDERFER. F e b r u a r y 1964.T a x Al locat ion —An Ex t e ns i o n of the D ep rec ia t ion Con cep t . MORTON

D. PROUTY, JR. J u n e 1964.W h a t the I n v e s t m e n t Cr ed i t Me a n s to the M a n a g e m e n t Ac co u nt a nt .

PORTER W. HENDERSON a n d HORACE R. BROCK. D e c e m b e r 1963.

Training of Industrial AccountantsAc c ou n t i n g Edu ca t i on Ca ll s for G r a d u a t e St u dy . L o u t s H . JORDAN.

O c to be r 1963 (Letter of comment FESS M a r c h 1964).D oes Y o u r T r a i n in g P r o g r a m S t a n d Up? F. S. KELLY. Ap r i l 1964.Fi n a n c ia l M a n a g e m e n t P r e p a r a t i o n for the Ac co u nt a nt . WILLIS J .

DOMBROVSKE. J u l y 1964.Y o u n g Accounta nt —T o M a n a g e m e n t T h i n k i n g Soo ne r , T he. PHILIP

L. BLUMENTHAL, JR. S e p t e m b e r 1963.

Waste and SpoilageSte el F o u n d r y Cost ing a nd the Res idu a l Met a l Cost Conc ept . ROBERT

E. SUTHERLAND. Ma y 1964.

Wire and CableD irect St a n da rd C os t in g —T he C a s e o f t h e " X " W i r e a n d Ca b le C o m -

pa n y, WILMER WRIGHT. N o v e m b e r 1963.

Wood ProductsM a c h i n e Ac co u nt in g for a Sm a l l Ma nu fa ctu r er —A Ca ps u l e Ca se.

ROLAND REED. O ct ob er 1963.

AUGUST 1964 13

Cellars to the EditorCommenting on Articles Published

Prior to September 1963*

September 1963T h a t C o m m o n S e n s e R o l e . J . L . H I G H (on DUNN, April 1963).Se p a r a t in g M a i nt e n a n c e P l a n n in g . W . T . G I L M O R E , JR. (on HANSON, April

1963).Accounting Curricula —Out of Balance? THOMAS C. MCCABE (on CRVM,

December 1963) .Still Needed —Shop Floor Knowledge. L . M . BREWER (on JORDAN, October

1962).

October 1963D o es th e R e a d e r Ex p ec t T a x A l l o ca t i o n? J O S EP H F . SCHAEFER (on FREMGEN,

April 1963) .Fenc es a nd t he Inve stme nt Cred i t . T H O MAS J . L ET T (on BAKER, April 1963).Lease Capitalization for Adequate Disclosure. JAMES M. FREMGEN (on

ZISES, March 1963) .Tax Allocation— Required by the Matching Concept. JOHN VECC:FII (on

FREMGEN, April 1963) .

November 1963I n v e s t m e n t s : Eq u i t a b l e T r e a t m e n t . GERALD WENTWORTH (on YOUNG, March

1963).Investments: Difference in Time and Size. CARL L. MOORE (on 'YOUNG,

March 1963).Risk s a nd Cha nces. H ARO LD E. GEYER (on BROWNE, M a y 1963).

December 1963Conversion Income Concept— Advantageous? JOHN H . MCMICHAEL (on

JAMES, July 1963) .N o th in g N e w . J O H N F . KASPER (on GEIGER, July 1963) .More on Inves tment Credit . ROBERT H . DODGE (on BAKER, April 1963) .

January 1964Knowledge of Operations. FRANCIS J. MEJSTRICK (on RICKEY, July 1963) .The Accou ntant —An Individu a l. G RO VER L . PORTER (on CIKATZ, July 1963).

February 1964Scrap —A Conversion Cost. W. W. WIGGERS (on JAMES, July 1963).Conversion Costs and the Dairy Industry. JACK J. COOPER (on JAMES,

July 1963).

April 1964Skills and Policies. O. R. HARDISON (on M c N U L T Y , May 1963) .

May 1964D ivi siona l i ze E D P ? JAY F. DEMERS (on BARRA, June 1963).* Le t t e rs co m m en t in g o n sub sequent a r t ic le s a re noted with a r t ic le li s t in g s o n pp. 3.13.

14 NAA BULLETIN

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