ACCOUNTANT STUDENTS

Southland Times, Issue 20495, 25 May 1928, Page 8

ACCOUNTANT STUDENTS

THE INVERCARGILL SOCIETY. The second lecture of the 1928 season was given last evening by Mr F. A. Barclay, F.1.A., N.Z., his subject being “Branch Accounts and Foreign Branches.” The lecturer brieflly outlined the system of accounting usually employed in dealing with branches and proceeded to give practical examples on the blackboard of these accounts. The different methods of costing goods to branches were shown and balance adjustments and closing entries fully outlined. Mr Barclay went on to describe the pecualiarities of foreign branches where the rates of exchange had to be considered throughout. As a practical illustration he fully worked out a problem, incorporating into the head office books of a Scottish Distillery Company its New York branch’s activities after converting the year’s transactions of the branch from foreign currency into sterling on a fluctuating rate of exchange. In proposing a hearty vote of thanks to the speaker, Mr R. S. McTnnes mentioned that this branch of accountancy had many pitfalls for students and the members who were fortunate enough to hear this lecture would be greatly assisted by it in their studies. On June 21 the society’s meeting will take the form of lecturettes in various sets of accounts by four of its members.