The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1915-04-22


Of the state the person holding him,
SELF out as public accountant IL
competent TO make good on his
claim. The state tests our oil. Il
admits lawyers to the bar, II gives
sanction Of physicians and surgeons
and that 1t should put Its sanction
upon the claims OF those who meet
the state test OF expertness In &C
Is logical. The certifying
OF accountants IL a state function
due the public, since the public &C
countant now plays. and Is destined
to play, such an important role In
the business world.
Practice Of English Origin
The practice OF public account
ancy arose In England. II has Ions
been an established practice there
In this country the practice OF pub
lie accountancy first came into
vogue in New York city. The state
OF New York was the first TO have
a law insuring the public agains,
the spurious claims of alleged &C
countants. Other states have follow
ed In the matter until today proba
bly, around rs OF the states have
such laws. North Caroline. Indiana
and Oklahoma being among the
latest to enact such laws.
Here In Michigan the public &C
countancy law is OF some 10 year.
standing. In bare outline the Law
provides that no one shall hold him
self out as certified public
accountant unless he has passed 9
rigid test provided by the state
board OF accountancy. The state
board consists OF three members
The present board is composed Of
three accountants and one lawyer
The examination given by this
board Is by no means perfunctory
AFFAIR, Probably 1t is one Of the Sc
verest tests of knowledge that Is re
quired by the state. The law re
quires that one presenting himself
for examination shall previously
have had at least two years actual
practice in accountancy. No one
ever thinks of attempting the state
test until after arduous preparation
oh no, no! dear reader. don't
you get the notion for a minute that
every business college graduate IL
a certified public accountant.
Trained Judgment Required
The science OF public accounting
is not merely modern. learned
profession, but II Is one as well 70
curing judgment. u is q profes
sion that requires the very best on
der OF trained Judgment. 1t is nc
boys play when two million dol
lar corporation operating In city
real estate, In ranches. coal mines
copper mines. hydraulic power
plants. asks an expert to survey Its
AFFAIRS and tell it, as we say in the
vernacular of the street, where 1t Il
at" Making financial survey Of
a big corporation, than which sur
vey no one may make statement
more authoritative, is. indeed. agar
in the words Of the street. "soms
Job"
As is indicated by the charactel
OF their services, the compensation
asked by certified public account
ants Is high. However, as In tn
case of the expert physician or SUI
geon. compensation, at critica
juncture, can hardly be taken int
consideration. When q public &C
Is called IN his services
are so necessary that the compensa
tion for his services can hardly b.
Laken into consideration. Frequent
Iy. the services Of the accountant
IN making a thoroughgoing ant
survey OF a great bus
ness, Is a prime consideration In
he continuance or the business. lr
new Of the service public account
,nts render their compensation can
lot be considered too high.
Too Few for The Work
One reason why the general pub
ic, and. for that matter. why even
he business world is not more IN
niliar with public accountants and
heir work Is because there are sc
ew OF them. II the services OF pub
ic accountants were requisitioned
Is often as they should be there
would not be a tenth part Of the
lumber there should be to do the
work. AS was said at the outset
public accountancy is in It's infancy
Numerically. infiuentially, and In
pretty near every other professional
aspect, public accountancy has
lbout all the room there is to grow
n.
II Is doubtful n there is any pro-
essional opening In the present day
which should have for young man
u trained intellect, Judgment and
so strong q call as TIA
profession OF public accountantcy'
As already pointed out. the workers
n accountancy are few, while the
demand for their services is con
SANITY widening. Even though the
public and business world is not IA
nilisr with public accountancy In
like the degree they should
be. nevertheless, the demand for
public accountancy service far out
-uns the supply.