CONFIDENCE WANTED

Star (Christchurch), Volume LXVI, Issue 20283, 18 April 1934, Page 12

CONFIDENCE WANTED

Accountants Addressed by Chairman. PROSPERITY AT HAND. An appeal to members of the accountancy profession to show confidence in business and inspire optimism amongst their associates was made by Mr T. Auton, chairman of the Canterbury branch of the New Zealand Society of Accountants, when speaking at the twenty-fourth annual meeting of the branch last evening. Mr Auton said that conditions were a good deal happier than they had been for three years, and this condition was due in no small measure to the efforts of members of the accountancy profession. The country had gone a long way towards recovery, and accountants had played no unimportant part in the steps taken towards rehabilitation. Proof of this was seen by the way in which the Government had asked members of the profession to serve on various commissions. The chairman, in moving the adoption of the annual report, congratulated the branch upon a useful year’s work, a feature of which had been the excellent attendance at all meetings, and the loyal support given by members. Better Balance sheets. Mr Arthur Stewart seconded the motion, and in doing so referred to the passing of the Companies Act. lie expressed regret that greater provision had not been made for issuing more informatiive balance-sheets to shareholders. Joint stock companies depended on the support of thousands of small investors aqd it was to them that industry must look for its welfare. It was bad businers to provide such investors with incomprehensible accounts, which often kept them in ignorance. The door was left open to the professional speculator who often profited largely through this ignorance of the shareholder. After considerable discussion, the meeting expressed approval of a suggestion that the branch should imitate the example of the Canterbury Law Society by awarding a gold medal each year for competition among students sitting for the accountancy professional examinations. It was decided that the medal should be open for competition amongst all students in the Canterbury district, and that the details of the award should be fixed by the committee. The following executive committee was elected: —Messrs Denys Hoare, T. Auton, C. IT. Perkins. 11. A. C. North and E. S. Bowie.