Word: professional
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Dates: during 1950-1959
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As a recognized profession in this country, public accounting is still young--only about 55 years old. In 1900 about 250 certified public accountants practiced in the United States; in 1954 there are probably over 50,000; in 1960 the number may reach 60,000.
Although the profession of public accounting is relatively young, the art of bookkeeping and accounting originated in Babylon, 5,000 years ago. As business has expended over the centuries, accounting techniques have grown increasingly complex--even beyond the comprehension of all except these skilled in them. But their basic purpose...
...measure of a profession's place in human society is not its antiquity but the extent of its services. Specifically the principal types of work which a professional certified public accountant performs are these...
(2) The preparation from these records of an interpretation which reveals the earnings or losses over a stated period of time and the financial condition of the enterprise at the end of the period. This interpretation is no longer in most cases for the use of a single owner-manager...
Today, more than at any time in the nation's history the accounting profession is urgently in need of competent young men and women. There are simply not enough degree holders from liberal arts colleges and from graduate schools of business administration who are entering public accounting firms. The story...