NEW ZEALAND’S FUTURE

Northern Advocate, 21 January 1935, Page 12

NEW ZEALAND’S FUTURE

A QUESTION OF PLANNING. | ) I “Planning, the Keynote of 1934,” is j the title of the leading article in the current issue of the “New Zealand Accountants’ Journal.” “In connection with the work of the various Mortgage Adjustment Commissions,” the writer states, “accountants are not only serving as commissioners, but when endeavouring to bring about eqiutable adjustments audited statements of account ai;e frequently called for. This particularly applies to cases coming before the City Commissions where trading concerns are involved. “Judging by the experience of the New Zealand Society of Accountants during the year through which we have just passed, the day when a narrowly technical training was sufficient for the professional accountant is gone. The art of book-keeping and the principles of accountancy, as understood by the average man, are only part of the equipment necessary. In addition to professional training, it is needful for the modern accountant to have a background of general and business experience which will give him an understanding of the nature of some of our present economic troubles, in order that he can suggest solutions and provide for future development. Above all, the accountant, if he is to carry adequately the responsibilities which are likely to be entrusted to him during the next few years, needs a liberal education and broad culture in the best sense, of these terms.

“If the present trend towards State Socialism continues, there must arise in this Dominion a planned economy or socially controlled system of production and distribution. The matter of exchange is already controlled, be it noted. A planned economy where production has to be nicely balanced against consumption and the business cycle is flattened out is not conceivable without a highly perfected and elaborate system of statistical and accounting controls. The need for the systematic gathering and recording of business data and the proper interpretation of such data, will become even more necessary under co-ordinated organisation. Should it happen that we are called upon to study not so much the individual interest but our social obligation to the community, we shall have to look at the matter from a broader aspect. All of which brings us to the thought that the future offers not only greater opportunities for the exercise of our talents as accountants, but calls for a somewhat changed outlook if planned economy on national lines is to be the policy of the years to come.