NATIONAL PLANNING

Otago Daily Times, Issue 22807, 17 February 1936, Page 15

NATIONAL PLANNING

TOE MODERN TREND “ When reviewing the outlook 12 months ago, we ventured the opinion that planning would be the keynote of the future, and subsequent events have confirmed our prophecy,” states the New Zealand Accountants’ Journal. “ The establishment of the National Mortgage Corporation and the extension of powers to the Dairy Industry Commission, to say nothing of other legislation, all show’ the trend towards the State taking a more active part in future in the economy and social welfare of the people of New Zealand. “As the new Labour Government is pledged to far-reaching changes in our monetary and economic system, it would appear that scientific national plaguing will occupy an even greater place in the scheme of things than we contemplated a year ago. A gratifying feature is that the new Prime Minister and, his colleagues have stated that they are not going to rush blindly into new schemes and policies without a thorough and careful examination of all the factors involved.

“A planned economy where production has to be nicely balanced against consumption, and the business cycle, flattened out, is’ not conceivable without a highly perfected and elaborate system of statistical and accounting controls. The need for skilful gathering and recording of business data, and particularly the ability properly to interpret such data, promise to offer much greater scope for accountants in the days which lie ahead. It must be remembered, too, that the range of' our professional duties is constantly widening, and it is essential that knowledge and experience should keep pace with requirements. In addition to a thorough grasp of accountancy principles, tlie successful accountant will be found to possess sound judgment, tact, discretion, and vision. These qualities cannot be learned in a day, but rather comprise g lifetime’s study and development.”