The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1915-04-22
B usiness World Is
Awakening to Inn
portant Service
GREAT FUTURE
FOR ACCOUNTANCY
Profession Is Perform.
ing Splendid Func-
ton For Public
~ oIEN x. sTiMsoN


Tho general public--whatevsr the
general public may be--never doubts
that IL knows II all. The general
public 10 also ever ready with opin.
ions. The general public values its
opinion very highly. In its opinion
ated way the public comedies that
the American business world 10 very
smart" The general attitude 10
that while the American business
mau may spurn the bookish knowl.
edge Of the schools. he nevertheless
Is WISE" az the saying goes. in a
very exact way. to all business
knowledge.
The Times. however. has lately
discovered that the general public
Is highly deficient In anything like
accurate knowledge concerning mod.
ern accountancy; and even the
business world II only just begin
ming TO awaken 10 the significance
OF the science OF accounting mat.
ter Of vital importance to Il.
Referring again to that indefinite
something which 10 termed the gen.
eral public, It's knowledge OF bust.
ness accounting may be found to
stu consist OF mental picture OF
that figure or the old-fashioned bus
mess world. the bookkeeper. whose
badge and insignia Of calling con-
sisted Of stoop shoulders. persist
ing mien OF worriment. red ink
stained fingers. and black sleeve
guards. The man who sums up the
triumphs Of life In n fcw mathemat.
ically correct balance sheets. and
then goes untimeiy. scourged to q
consumptive grave. Still personifies
accountancy TO all too many.
But. to the contrary. modern &C
countancy furnishes one OF the Nv
est chapters IN the acknowledged
stirring story OF American business.
Take for instance those figures
OF the modern tusinoss world, the
certified public accountants The
public. and even the business world.
has an al too limited notion CT the
province OF these men: and, yet.
whca one gets TO tho story Of what
iho certified accountants stand for.
aad @bai they are doing. one will
lind m eniivrning story OF the mod
crn business world. Public account.
ancy Is yet IN SIS infancy. and the
men who arc engaged In theS work
are rs yot far from numerous, out'
the story " public accountancy de.
serves 10 be told. II is not pro
sale affair by any means II Is a
story that will stir general interest.
as well as serve to Jog the realiza-
ton OF wider portion OF the bust
ness world than has yet given heed
10 this important matter.
What 10 Public ,Aeoountancyf 81
~ this point the question. What
u public accountancy! deserves 10
snswercd. The public knows
eel enough why there Is necessity
'oe accounting In connection with
usiuess In its private sense, but
why the term public accountancy7
Wei, there are numerous reasons
rcr public accountancy. One very
good reason Is the attitude Of the
1gbilc itself There no longer 10
such q thing as private business.
Busin sss is more and more coming
to be a matter OF public service as
distinguished from an undertaking
solely concerncd with private pro
nts. That II one reason for the
modern growing science OF pssiic
sccorntancy. 49,
Another reason for the public ac-
eountant ID the structure and needs
OF modern business itself. Not SO
long ago there died In New York
city a man who had national fame
as hotel landlord He was also .
forerunner. in . way, Of the modern
quicklunch system. II II told Of
this man that he and his partners
In the early days OF their undertAk-
ing, actually counted up tho cash
receipts for each day, then and
there paid every man In their en-
nloy, and all bills contracted
through the day. and then. before
hey parted. divided among them
rr.vos the remaining cash. Their
nsiness was large. even measured
~ modern standards, but they had
ma need OF . public accountant or.
COR that matter. even for private
accountant.
But what an astounding exception
10 busincss practices the above cited