U.S. Interest In N.Z.’s Change To Decimals

Press, Volume CVII, Issue 31394, 13 June 1967, Page 14

U.S. Interest In N.Z.’s Change To Decimals

Professor N. M. Bedford, professor of accountancy at the University of Illinois, counts himself fortunate to be in New Zealand for the change to decimal currency because, he says, it will be a small-scale demonstration of problems to be encountered and overcome in larger countries if they changed to metric measures generally, as seemed likely. Professor Bedford said such changes—£.s.d. to dollars and cents, pounds to kilograms, yards to metres seemed likely to be adopted universally; but he emphasised that this might take a long time, because large populations were wary of change. If they could be educated on the advantages, it could mean world progress. However, the best methods of measurement were by no means agreed upon and it was in this field that he now found his chief personal interest A tremendous amount of study, research, and experiment would be required.

Professor Bedford said he was keen to learn how New Zealand prepared for the currency change, what happened around July 10, and what happened afterwards. The experience of a comparatively homogeneous community could hold valuable lessons for larger countries of greater diversity. AH this was of considerable importance to accountants. Professor Bedford said, because they were now con-

cemed to see that the very best information was made available for decision making, both corporate and individual. Increasingly the role of accountants was to provide information in the clearest and most complete form. Professor Bedford will be attached to the accountancy department of the University of Canterbury until August as visiting Erskine fellow. He has held similar appointments in many major American universities and also in Japan, the Philippines, Hong Kong, and Egypt. Professor Bedford is well known in the United States as an academic who has been directly involved in forming the policies of the major professional bodies of accountants. Earlier, he was executive secretary of the New Orleans Stock Exchange and accountant for the State of Louisiana.

He was formerly vice-presi-dent of the American Accounting Association, and on the national board of directors of the National Association of Accountants. He has also held office in the American Institute of Certified Public Accountants. In each he has been concerned with defining long-range objectives in accounting. During his stay in Christchurch, Professor Bedford will conduct seminars in accounting theory for staff and masters students and give some lectures and tutorials

for advanced undergraduate classes.