Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-09-19
FIRST TESTS Of
ACCOUNTANTS To
Be IN NOVEMBER
Questions of American InSti-
tute of Accountants to Be
Used; Certificates to Be
Issued.

The last session of the legisla-
ture passed an act establishing a
state board OF accountancy. New
Mexico was the last state in the
union to pass such an act. but this
is only natural in view of the
sparsely settled condition and the
fact that 1t was the last common
wealth given statehood.
In accordance with the law. the
governor appointed as members of
the state board w. G. Logan of AL
buquerque, w. V. Gano of Albu-
querque and r. D. Jones of Ros-
well, whose terms expire on jan
uary /, 1924. 1928 and 1922, re-
spectively.
The board has organized by the
election of w. V. Gano as presi-
dent and r. d. Jones as secretary
treasurer. At its organization meet
ing 1t also decided to adopt the ex-
animation questions provided by
the American Institute of Ac-
countants to be used In the exam
nation of all applicants for certi-
ficates.
The American Institute of Ac-
countants is a development of the
old American Association. of Pub
lie Accountants. and since its Or
ganization in 1912 has been ac-
lively engaged in raising the STAN
dard of ethics and business prac-
tice of public accountants in the
United States. AS a consequence
nearly all states now use their ex-
animation questions In the exami-
nation of applicants for certifi-
Gates, and among these states there
are reciprocal agreements in re-
gard to the registry of certificates.
OF course. there are many COM
petent and reputable accountants
who do not hold certificates, and
who are not members of the Amer
| lean Institute, but the possession of
a certificate may be looked upon
as giving the holder certain stan
dard of qualification. 1t also adds
an element of protection to the
| business man, since in order to
hold certificate the accountant
must have passed rigid examina-
ton in auditing theory and prac-
| tlCOt lllCply dHa pi az
tice and business law, besides have
certain educational qualifications,
presenting certificates from men
Of recognized standing as to their
moral qualifications, and have had
at least one years experience as
,practicing accountant.
These requirements certainly
cannot be regarded as too strict,
since the ordinary course-o of a pub
| lie accountants work may require
that he undertake an audit to re-
view the work of the employees Of
a business and prepare a report
| that shall accurately set forth
their activities so as to give the
proprietors a picture of the years
operations; that he be a specialist
in the preparation OF income tax
returns; that he may be called
on to apply correct accounting
principles to business law, perhaps
in a case of bankruptcy, or dis
solution of partnership, settlement
of an estate, ETC.; that he make a
special investigation at the in
stance of court. or in behalf Of
minority stockholders in corpor-
alton, or the creditors of business
that may wish to make an assign
ment. In other words, the public
accountant may be called upon at
any time to cover wide range Of
BUSINESS activity, and his expe-
rience must be such that he may
be able to apply correct ACCOUNTING
principles which do not change to
business activities that are never
twice the same.
The first examinations under the
law are to be held in Albuquerque.
on November Is, and no doubt all
accountants in the state who have
the preliminary requirements will
present their applications to the
| board as soon as the blanks are
prepared. Such blanks may be
procured from the secretary and
be filed with the secretary by No
vember /, 1921.