Arizona republican., 1922-02-04
SAYS AMERICA
IS NEAR POINT
Of PROSPERITY

America IS just around the corner
! from a tremendous revision Of busi-
ness, A. =. Richardson, secretary Of
| the American Institute of Account
ants, told IS members of the Ari-
zona Society of Public Accountants
at banquet in his honor at the Ho-
tel Adams last night. Mr.. Richardson
came to Phoenix to explain the pur-
poses of the organization which he
represents and to urge Arizona ac-
countants to take out membership.
The part which accounting service
Is to play in this business revision
was discussed by Mr.. Richardson in
an address that pointed the way for
maximum efficiency to the end that
business shall thrive as never be-
fore"
I'VE have been talking prosperity
here in America for the past six
months but il has been mostly talk"
Mr.. Richardson told his hearers. "But
the trend of events point to an early
revision of business, a tremendous re-
vision of business. We are just
around the corner from It
what part are you as a certified
public accountant going to play in
this business revision?'' he asked,
continuing by answering that de-
Ipends upon you as a professional man
Your opportunity has never been
greater.
Are Watching Credit
There is a growing tendency in all
lines OF business and industry to de-
maid fair. full and impartial in
vestigation of financial conditions of
Individuals or firms before credit is
extended. 1t has been recommended
and is now practiced in many in
stances that all applications for cred
1t be supported by certified state
ments Statements of financial con-
ditions should always bear the sig
nature Of an impartial investigator,
| the certified accountant.
"The certified accountant, II he
is honest to himself. deals with fact
only. 1t is possible, therefore to at
tain perfection in every instance, for
by dealing solely with fact, perfection
can be attained. l know of no other
is true"
Outlines Organization
Mr.. Richa "dson gave a brief out
line OF the history OF the account
! ing profession. The first certified
! public accountant was an English
man back in 1850, he said. 1t was
| in 1877 that New York state had It's
first accountant. The first certified
public accountant law in the United
| States was passed in 1904, he added.
Since that time growth Of the pro-
fession has been by leaps and by
| bounds.
The American Institute Of Ac-
countants was formed in 1916, he said.
Before any certified accountant can
become a member of this organiza-
tion he must pass the institutes own
examination. This examination IL
the same as used in 3S Of the As
states of the union he added
Work Of Accountants
The certified accountant must
serve two purposes; first. he must
protect the public; and second. he
must protect the profession. Ae-
counting laws are introduced to pro-
tect the public and not the account
| ant, he said with much emphasis.
Many people believe that these laws
are designer 10 clothe the certified
accountant with legal protection. That
lis not true. They are TO serve the
single purpose OF protecting the pub
lie.
An educational campaign Is soon to
be inaugHrated by the institute to
educate the public in the true mean
Ing or accountancy, Mr.. Richardson
said. There will be an active adj
vertisIng campaign. supplemented by
lecture bureau. The institute plans
a half million dollars expenditure in
this educational program. he added.
Opposed to Advertising
The institute also has gone on rec
ord as opposed to personal advertis-
ing by any member of the institute
This regulation will be promulgated
this spring, he said
Work of the institute was explained