ACCOUNTANCY.

Waikato Times, Volume 116, Issue 19363, 17 September 1934, Page 2

ACCOUNTANCY.

ADVICE TO STUDENTS. An important function of the New Zealand Society of Accountants is in the help given to students’ societies in various districts. “Naturally students are anxious to complete their professional course as quickly as possible," slates . the society’s president (Mr H. Valentine), “lull i need hardly say that the completion of the professional course is only the commencement of what is a life work, the study and practical application of the principles of economics, Finance, and business organisation and tlie broad principles of law as applied to business transactions. The examination course lias failed in its principal objective if on its completion the student has merely equipped himself lo perform the routine duties of a book-keeper. “Bookkeeping is only a means to an end and not an end in itself. It is the capacity to study and interpret the results shown by the art of bookkeeping in Ihc light of the wider knowledge of the economic principles forming Hie foundation of sound accountancy which make Hie accountant so valuable in modern business. Statistics and costing are an indispensable ad.jmict lo interpretive accounting. A sound knowledge of the science of mathematics is essential to the statistician, and the accountant must thus become the connecting link between the academic mathematician and economist and the world of business, or between theory and practice. "All this may seem to set an impossibly high standard for Hie student who is struggling lo master the mysteries of trial balances or lo memorise the Acts of Bankruptcy or Hie machinery provisions of the Companies Act. Bui the drudgery of those studies will help lo create the capacity to proceed step by step lo higher nights and will train the brain so as to make the task easier. Let me utter a warning against the mere cramming of Hie subjects. The student should endeavour lo flint and understand the underlying principles in all lie studies; otherwise bis knowledge will be of unly limited value mu! his work second rate."