Education for the profession

              INTERNATIONAL
ACCOUNTANTS' CONGRESS
AMSTERDAM 1926
E. E. SPICER, Fc.A
LONDON
EDUCATION FOR THE
PROFESSION
E
W^;^ÏTGEVER TE PURMEREND
Regelen
omtrent het gebruik der boekerij van hel Nederlands Insti­tuut
van Accountants, vastgesteld in de bestuursvergadering
van 5 Mei 1948.
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2060 017 5272
EDUCATION FOR THE ACCOUNTANCY PROFESSION.
BY E. E. SPICER, F. C. A. London.
FOREWORD.
Education is a subject upon which most Englishmen are by com­mon
consent presumed to be wholly ignorant, and, therefore, I
regard it as a great compliment to be invited to read a Paper
on an Educational subject before an International Congress of
Accountants.
Each Nation has its own ideas and ideals regarding Education,
and in all probability each Nation is to some extent wrong in the
methods which it adopts, and therefore, an International exchange
of thought on the subject must prove beneficial.
Education for the Accountancy Profession is a matter of profound
importance not only to Professional Accountants but to the com­munity
as a whole, and bearing in mind the fact that the Profession
throughout the entire world is still in its infancy, that it is growing
daily in National and International prestige, and that the scope of
the duties of the Professional Accountant is constantly expanding,
it is clear that too much attention cannot be given to the question
as to what form of Education will be most likely to produce in the
future the best type of Accountant to uphold the dignity of the
Profession.
In this Paper I propose to outline very briefly the methods gene­rally
adopted in England for the education of the student in Ac­countancy,
and then to indicate what alterations are, in my opinion
desirable in order to cope with the ever increasing demands which
the expansion of the activities of the Profession make upon the
practising Accountant.
It must be understood, however, that I am dealing with the
matter purely from the point of view of my own country, since in
England the School education differs so materially from that fa­voured
by other Nations of the World.
2 EDUCATION FOR THE ACCOUNTANCY PROFESSION.
The nature of English school education is almost entirely general,
and its fundamental object is to develop the brain and to build up
character, rather than to impart any specific knowledge which may
prove subsequently of commercial value.
It is probable that we, in England, emphasise the virtues of Sport
unduly, and might, with advantage, introduce a measure of commer­cial
instruction into the School curriculum, but assuming the gene­ral
education of the English boy remains more or less unaltered,
it seems to me that some modification is desirable in the specific
education of the student in Accountancy.
In saying this I do not intend to convey the impression that the
methods adopted in the past have been faulty, but rather to submit
that the scope of the duties of the Professional Accountant has so
changed in character during recent years as to render what was suf­ficient
yesterday inadequate today.
THE ACCOUNTANCY PROFESSION IN ENGLAND.
The recognition in England of Accountancy as a Profession may
be said to date from the year 1880 when the Institute of Chartered
Accountants was incorporated by Royal Charter. It is true that
prior to that date various small Societies of Accountants existed,
but no serious effort had been made to bring practising Accountants
under the disciplinary control of one central organisation.
The immediate effect of the incorporation of the Institute was,
for all practical purposes, to impose this central control, and it
must be assumed that the Members of the Council at that time con­sidered
that the prestige which the Royal Charter conferred upon
them would be all sufficient, and that the benefits which were then
so apparent would be lasting and complete. This view was erroneous
and gave rise to a great initial blunder on the part of those who in
the early days had in their own hands the future welfare of the Pro­fession
in England.
It is submitted that these gentlemen should at once have taken
the requisite steps to obtain Parliamentary sanction to the closing
of the Profession, thus preventing any person who had not obtained
the qualification of a Chartered Accountant from practising as a
Professional Accountant.
EDUCATION FOR THE ACCOUNTANCY PROFESSION 3
This was not done, however, and as a result the Society of In­corporated
Accountants and Auditors was formed in the year 1885.
This Society is a Limited Company, incorporated under the Com­panies
Acts, limited by guarantee. With the important exception
of prestige, there is no essential difference between the constitution
of the Society and that of the most of other Societies of Accountants
that have sprung into existence during recent years.
The Society of Incorporated Accountants and Auditors has, how­ever,
from the very start demanded a very high standard of effi­ciency
from its Members, and this fact taken in conjunction with the
recognised integrity and character of those who have directed its
fortunes, has raised the Society to the high position which it now
occupies in England and throughout the British Empire.
The well merited success of the Society of Incorporated Accoun­tants
and Auditors has led to the formation of many other Societies
of Accountants, and there is nothing at present to prevent the con­tinued
multiplication of such Bodies. Thus in England today the
standard of efficiency demanded of the qualified Professional Ac­countant
varies with the whim of the particular Society to which he
is attached.
Whether, or not, this unsatisfactory state of affairs can best be rec­tified
by an immediate effort on the part of the Institute of Char­tered
Accountants and the Society of Incorporated Accountants
and Auditors to obtain legal sanction to the closing of the Profession
is a matter entirely outside the scope of this Paper, but it may be
said with confidence that great practical difficulties stand in the
way.
In the meanwhile, however, the dignity and prestige of the Pro­fession
in England rest with the Institute and the Society, and so
long as these Bodies are controlled by men of the standing and cha­racter
of those who are in Office today, little real danger need be
feared. It is necessary, however, that the standard demanded by
these Bodies should be so high that the public will continue to
recognise the gulf which exists between their Members and those
of other Societies of Accountants, so that, as far as possible, the
dangers inherent in all open Professions may be eliminated.
4 EDUCATION FOR THE ACCOUNTANCY PROFESSION.
THE SCOPE OF THE ACCOUNTANCY PROF'ESSION.
The scope of the Accountancy Profession has been increased to a
very marked degree in recent times. The enormous expansion of
trade and international commerce and the great increase of credit
during the last fifty years have combined to lift the Accountancy
Profession from comparative obscurity to a position of marked
prominence. This has been aided, in part, by legislative enactments
in England, by which Accounts, more particularly of Com­panies,
are required to be audited and reported on by Professional
Accountants.
The peculiar position of London as a great centre of international
trade has brought the Profession face to face with numerous pro­blems
of international rather than of local importance.
It is probably correct to say that there is scarcely a Concern of
any importance in Great Britain which does not look to the Ac­countancy
Profession not only for the Auditing of its Accounts, but
also for advice on important questions that arise in the ordinary
course of its dealings. It is perhaps in the capacity of consultants
that the Accountants of today are distinguished most noticeably
from those of twenty years ago, for they are referred to now not
only by Trading and Manufacturing Concerns, but also by Finan­cial
Houses, Banks and other operators in the Money Market. The
field of the Accountant's professional operations is co-terminous
with the limits of business transactions, and there is no branch of
commercial activity with which the Accountancy Profession is not
intimately concerned. If the profession is to realise the future which
appears to be in store for it, it must equip itself, more thoroughly
than ever, to discharge its responsibilities.
It is indeed difficult for an Accountant, in these days, to acquire
the specialised knowledge that is required to enable him to deal
with the varied problems which arise throughout the field of his
activities.
An interesting distinction, in this respect, may be noticed between
the Accountancy Profession and the Legal and Medical Profes­sions.
In England, and in probably most countries of the world, the
Legal and Medical Professions, and more particularly the former,
are highly specialised, and the great advance that has been made
EDUCATION FOR THE ACCOUNTANCY PROFESSION. 5
in modern times in these Professions may be attributed largely to
this fact. There is no mortal disease, for instance, which is not the
subject of close specialised study, and for which specialists are not
available. In the Legal Profession, the most eminent Counsel con­cern
themselves with only one branch of the Law. The Accountancy
Profession, on the other hand, dealing with an almost limitless field
of human activities in the pursuit of wealth, and closely associated
with the financial operations of the world, has, up to the present
time, scarcely recognised the need for specialisation. It would seem,
however, that a stage has now been reached when the members
of the Profession, out of sheer necessity, in order to meet the in­creasingly
specialised demands made upon them, will have to mo­dify,
in some measure, their present position of undertaking im­mensely
varied Professional duties in the way of general practice.
It is not easy to postulate the manner in which the Profession
will meet the present need for specialised knowledge, but it is prob­able
that the first step will be for the Partners of a Firm to specia­lise
in particular Branches of the Profession, each becoming an
expert in selected subjects. In this way the Firm, to the extent to
which this is done, will become Specialists, and will acquire a spe­cial
rather than a general practice.
Such a development seems almost inevitable in the near future,
and by bringing Accountants into prominence as recognised con­sultants
on the most difficult problems of business practice, the
prestige and importance of the Profession cannot but be increased.
THE NORMAL EDUCATION OF AN ENGLISH YOUTH.
Education in England on the whole is general rather than specia­lised,
and it may be useful very briefly to outline the type of edu­cation
which in England is considered the most satisfactory and
which is adopted by the upper and middle classes.
At the age of nine or ten a boy is usually sent to a Preparatory
School where he remains until the age of thirteen-and-a-half. These
Preparatory Schools are usually Boarding Schools, and as far as
circumstances permit are run on much the same lines as Public
Schools.
At thirteen-and-a-half the boy enters one of the Public Schools,
EDUCATION FOR THE ACCOUNTANCY PROFESSION.
which are not in any way State Schools, but which provide the high­est
standard of education in the country. The majority of them are
Boarding Schools, and in the past have devoted their attention
mainly to the study of Classical subjects. This has been modified
in recent years, and in many of these Schools Scientific and En­gineering
subjects are now receiving considerable attention. The
Public Schools to a large extent are individualistic in character each
having its own traditions and prestige which are maintained and
fostered, and thus each Public School tends to develop a definite type
of youth. Games involving team work, such as. Cricket and Football,
are encouraged and play a prominent part in the curriculum of
School life. These Games are not optional. In fact, in many cases only
a Doctor's certificate will excuse a boy from taking his part in them.
The career of the boy at a Public School usually lasts until he is
about eighteen, or eighteen-and-a-half, and at that stage he either
goes to the University, or enters upon some Professional or Commer­cial
occupation. If he goes to the University he remains there for
three or four years and usually specialises in some branch of study
of a non-commercial character, such as, Classics, Mathematics,
Science, History, Philosophy, or Economics. During his stay at the
University, although he is expected to do a reasonable amount of
work, the traditions of the University and of his College compel him
to continue his activities in Games. The system at the bigger Uni­versities
attaches the students to individual Colleges with whose
interests they become identified during their University career. The
students are subject to a certain amount of discipline both on the
part of the University and of the College Authorities, but on the
whole this discipline is more traditional than effective.
It will be understood that the system of education referred to is
normal only to a small part of the population, and that the majority
obtain their education at Elementary and Secondary Schools which
they leave at about the age of sixteen, or earlier, to embark on the
more serious work of life.
It thus happens that there are three main types of youth who enter
the Profession of Accountancy:
a) The youth of sixteen or seventeen who usually has not been
to a Public School, and whose education, limited as it must
be, is quite general.
EDUCATION FOR THE ACCOUNTANCY PROFESSION. 7
b) The Public School boy who does not go to the University, but
who has had a wider general education than his more youthful
competitor, and,
c) The Public School and University youth whose general edu­cation,
assuming he takes an Honours Degree at the Univer­sity,
represents the highest standard available in England.
In all these cases it is clear that the potential Accountant starts
with a general education, differing only in degree, but without having
studied any of the subjects which are necessary in his future career.
It may be remarked here that the Profession in England is not
confined to the male sex, but that the soft sex are also admitted.
The education of girls in England follows very closely the lines al­ready
indicated in regard to boys, and the rules governing admission
to the Profession are the same for both sexes.
THE ARTICLED CLERK AND HIS TRAINING.
To become a Chartered Accountant in England it is necessary to
serve Articles with a practising Member of the Institute. The normal
term of Articles is five years, but this is reduced to three years in the
case of a Graduate of one of the Universities. The Candidate is re­quired
to pass a Preliminary Examination of a general Education
character, unless he can satisfy the Governing Body of the Institute
that he has passed some Examination which comes within the
exempting Clause under the Bye-Laws.
A Candidate can present himself for Articles at any time after
passing the age of sixteen, and thus it is possible for a person in Eng­land
to become qualified as a Chartered Accountant at the early
age of twenty-one. Two Examinations have to be passed involving
tests not only in matters directly affecting Accountancy, but in
several Legal subjects, and it may be said with confidence that the
standard of these Examinations is high.
The whole of the special training of an Accountant takes place,
therefore, after the Articles have commenced. At present this spe­cial
training consists of practical work in the Office of a practising
Chartered Accountant together with concurrent theoretical training
in preparation for the Examinations. It is found, in practice, how­ever,
that the theoretical training does not commence at the same
>
8 EDUCATION FOR THE ACCOUNTANCY PROFESSION.
time as the Articles and is not spread uniformly over the term of
the Articles, being condensed rather into two periods of nine or
twelve months prior to the qualifying Examinations.
It is submitted that the question of the training of the Articled
Clerk resolves itself into two parts, the training antecedent to Ar­ticles,
and the training during Articles. Reference has already been
made to the general education obtained by English youths, and it
is now desired to emphasise the view that no one should be allowed
to take Articles until he has passed a fairly searching test in the
theory of Bookkeeping and Accounts and other matters.
The main business of every practising Accountant is Auditing,
and it is usual to employ the newly bound Articled Clerk upon ele­mentary
detail work in connection with Audits.
It is submitted, however, that where the Articled Clerk has had
no preliminary theoretical training, this practice is unsound for
three reasons:
1. Nobody should be employed to check the work of other persons
unless and until he himself is capable of performing that work.
2. In the early stages of his training the Articled Clerk often spends
much time in performing work, the true significance and im­portance
of which he does not fully understand.
He is working, therefore, to some extent, in a mechanical
manner which is to be deprecated, and he is not deriving from
his practical work the benefit which would accrue to him had
he received preliminary theoretical training.
3. Experience has proved in the case of other Professions, notably
the Medical Profession, that theory must precede practice if
the best results are to be obtained, and it is difficult to see
why this rule should not apply to the Accountancy Profession
with equal force.
The education of the Professional Accountant must be based on
knowledge acquired by theoretical means augmented by empirical
training. Neither means is sufficient by itself, and it is only the com­bination
of the two that is effective in producing the really expert
Accountant.
It is suggested that the standard of this preliminary theoretical
training should be such as to ensure that the Candidate for Articles
has a complete understanding of the principles upon which the
EDUCATION FOR THE ACCOUNTANCY PROFESSION. 9
keeping of Accounts by Double Entry are founded, since it is by a
mastery of these theories that he is enabled first to see the ultimate
effect of any entry which is made, secondly to give effect to ad­justments
without having to revert to precedent, and thirdly to
comprehend the nature of transactions of every kind even apart
from an inspection of actual entries in the books.
The Candidate for Articles should also have some knowledge of
legal principles since every commercial transaction has a legal con­sequence,
and the person entering into it is assumed to look to
that consequence.
In the Accountancy Profession legal matters are continually
arising, and this applies particularly in the case of the Audits of
Limited Companies. Moreover, unless the legal effect of a transaction
is appreciated it cannot be correctly recorded in terms of Ac­counts.
I t is not proposed that this preliminary theoretical training should
involve any profound knowledge of the Law, but it should be suf­ficient
to enable the Articled Clerk to appreciate from the start the
general principles of the Law applicable to all businesses.
General Commercial Knowledge should also form part of this
preliminary theoretical training, and it is submitted that no person
should be articled until he can read with understanding the money
article in the leading Financial Newspapers.
This will involve a general study of the principles upon which
particular types of business are conducted, such as Banks, Insurance
Companies, Stockbrokers and Stockjobbers, and the knowledge thus
acquired will enable the Articled Clerk to apply recognised prin­ciples
to concrete matters, and visualise the ultimate effect resulting
therefrom.
The question of being able to speak fluently and to read at least
one foreign language is a matter of great importance to the rising
generation of English Professional Accountants. In the past very
little attention has been given to the study of modem languages in
England, and two reasons are put forward to account for this
phenomenon:
1. Foreign nations have courteously decreed that English is an im­portant
language worthy of their serious consideration. It has
thus happened in the past that Englishmen have found it pos-
10 EDUCATION FOR THE ACCOUNTANCY PROFESSION.
sible to travel all over the world and transact their business
without troubling about foreign languages, and there is no doubt
that this energy on the part of others has encouraged the la­ziness
of the Britisher.
2. The British Empire is large and the number of PInglish speaking
people in the world great, and apparently the smaller nations
have felt it worth while to oblige the larger nation.
This state of affairs, however, is fast becoming impossible to the
Englishman, largely owing to the growth of international business,
and it is submitted that the English Accountant of tomorrow must
be able to understand and speak at least one important language if
he is to hold his own and efficiently serve his clients.
From an English point of view the most important languages
are undoubtedly German, Spanish and French and if it could be
arranged that a mastery of one of these languages were an indispens­able
qualification to Articles, great encouragement would be given
to English parents to provide facilities for their children to learn
these languages during childhood.
This would enable the Schools to set up a far higher standard in
the teaching of modern languages, and would ultimately prove a
great source of strength to the nation in its commercial dealings
with other countries.
The theoretical test, which it is advocated should be a condition
precedent to Articles, would not materially delay the commence­ment
of Articles, for it would be open to Candidates to enter for it
direct from School or the University much in the same way as at
the present time Candidates enter for the Bar Examinations. In
order to ensure, however, that no person should be qualified as a
Professional Accountant before he has reached mature years, it
should be prescribed that a Candidate for the theoretical Examina­tion
prior to Articles should have reached at least the age of nineteen.
It has already been noticed that under existing conditions it is
possible for a person in England to become a practising Chartered
Accountant at the age of twenty-one. It is suggested that in the
interests of the Profession, as well as of the public, it is undesirable
that independent practice should be permitted at this immature
age, and twenty-four of twenty-five would seem to be the earliest
ages at which an Accountant should be allowed to enter into prac-
EDUCATION FOR THE ACCOUNTANCY PROFESSION. 1 1
tice, either on his own account or in partnership with others.
After the theoretical Examination had been passed at an age
of not less than nineteen years. Articles would commence and they
should, it is submitted, last for at least three years.
During the term of the Articles the Clerk would obtain practical
experience in as many Branches as possible of Accountancy work,
and he would, at the same time, continue his theoretical training.
He would be required to pass two Examinations before becoming
qualified as a Chartered Accountant. The second of these Examina­tions,
taken at the end of the term of Articles should, it is thought,
be of a severely practical nature and should demand, among other
things, a high standard of efficiency in Report writing and self ex­pression.
It is believed that the theoretical training received prior to Ar­ticles
would enable the practical work to be done more thoroughly
and intelligently than is possible in present conditions, and the con­tinued
theoretical and empirical training during the term of the
Articles would be the more productive by reason of the sound foun­dation
upon which it was built.
What has been said concerns the Articled Clerk himself in regard
to his training, but there is something to be said, it is submitted,
respecting the practising Accountant to whom a Clerk is Articled.
At the present time any practising Chartered Accountant in Eng­land
is entitled to have two Articled Clerks, but no control is exer­cised
by the Institute of Chartered Accountants over the nature of
the practical training that is given to the Clerk. There is, in con­sequence,
no central authority to see that a Clerk who has paid a
substantial premium for his practical training receives in fact, a
training that is likely to qualify him as a useful Member of the
Profession. Probably from the point of view of his future the Clerk who
is Articled to a Firm of medium size with an all-round practice is the
most fortunate, but the practices of Firms differ widely. Some have
small practices, and others very large; some are specialised and
some are general. Perhaps the most unsatisfactory training from
the point of view of the Articled Clerk is to be found in very small
Offices where of necessity there is little variety of work, or, in very
big Offices where the work is highly departmentalised, and where
the Articled Clerk may find himself engaged for nearly the whole
12 EDUCATION FOR THE ACCOUNTANCY PROFESSION.
term of his Articles on one particular class of transaction. Again,
some Firms specialise on certain classes of work, such as. Rubber,
and Tea and Coffee Estates, and here again, the training of the Ar­ticled
Clerk is bound to be one-sided. It is a matter for consideration
whether a central authority should not lay down the nature of the
practical training that every Articled Clerk should receive, and
prevent any practising Chartered Accountant, who cannot offer
and provide the minimum facilities laid down, from granting Ar­ticles.
Another matter connected with the Articled Clerk would seem
to be of some importance. At the present time in England a Can­didate
pays a substantial sum for his Articles. In some cases he re­ceives
a small salary; in many cases he receives none. On the other
hand for a good portion of the term of his Articles an Articled Clerk,
if an intelligent and hard-working person, is of substantial use and
profit to the Accountant to whom he is Articled. The whole of the
present system of Articles and premiums is somewhat archaic, and
it is submitted that if the suggestion of a preliminary theoretical
test prior to Articles is accepted, the Articled Clerk practically
from the beginning of his Articles will be a valuable Assistant, and
should be entitled to receive a salary commensurate with his ser­vices.
The recommendations under this heading may perhaps be sum­marised.
It is suggested that:
1. No one should be eligible for Articles until he has reached the
age of nineteen.
2. No one should be eligible for Articles until he has passed a fairly
searching test in the theory of Bookkeeping and Accounts, in
General Commercial Knowledge and in one Foreign language.
3. The term of Articles should be not less than three years.
4. During the term of Articles there should be two Examinations,
the second, on passing which a Candidate would become qualified
as a Chartered Accountant, being of a very practical nature.
5. The Institute of Chartered Accountants should regulate the
practical training of an Articled Clerk and should withhold from
practising Accountants, who cannot give the necessary faci­lities,
the right to take Articled Clerks.
6. The system of premiums should be modified or eliminated, and
EDUCATION FOR THE ACCOUNTANCY PROFESSION. 13
an Articled Clerk should be paid a salary commensurate with
the value of his services.
7. A Certificate of Practice entitling a Chartered Accountant to
practise, either on his own or in partnership, should be withheld
until he has reached the age of twenty-five.
A further recommendation may be added. The proposal to raise
the age of admission to Articles from sixteen to nineteen may be
considered to prejudice the prospects of youths, who, by reason of
their circumstances, are obliged to leave school at the age of fifteen
or sixteen. To meet any hardship that may arise on this account, as
well as to attract the best possible material, it is suggested that a
number of Scholarships should be founded to assist youths of
outstanding ability to qualify for the Profession.
STUDENTS' SOCIETIES.
A not unimportant feature of the training of the Articled Clerk
in England is afforded by the numerous Students' Societies that
are spread over the country. These Societies aim at providing some
theoretical instruction for their members, but their chief value lies
in the Lectures delivered before them periodically by experienced
Accountants, Lawyers and others on subjects affecting the Accoun­tancy
profession. Discussions take place after the Lectures in which
the Students are expected to join, and the Lecturers undertake to
answer any queries that may be put to them. In addition each So­ciety
maintains a useful reference Library for the use of the Stu­dents.
Although the work of the Students' Societies is undoubtedly
valuable, it is believed that much more might be attempted, and
that under central control the Societies might take a more active
and important part in the Accountancy Students' education.
In present conditions the vitality of a Society depends on local in­terest
and enthusiasm. Indifference among the Principals or slack­ness
among the Students quickly engenders debility. Lectures are
poorly attended, proceedings are conducted at haphazard, and the
educational influence of the Society becomes negligible.
A more progressive policy in regard to these Societies is advocated.
They should, it is submitted, be controlled by the Institute of
14 EDUCATION FOR THE ACCOUNTANCY PROFESSION.
Chartered Accountants by whom their activities should be directed,
and their regulations framed. Membership of the local Students'
Society should be compulsory for all Articled Clerks, and attendance
at Lectures and other proceedings should be obligatory. The Pro­gramme
of Lectures should be approved by the Institute in order
to ensure, as far as possible, uniformity of theoretical training during
Articles. It would be advantageous, it is believed, if short papers
were prepared by certain of the Students to be delivered, with the
aid of brief notes only, at some of the meetings. If the subjects of
the papers were published at the beginning of each Session individual
Students could be selected at random to take part in the subsequent
discussions, and the uncertainty of being called upon to speak would
compel each Student to think out and formulate his views in advance.
In this way not only would the subjects dealt with be studied
seriously by the Students, but the logical arrangement of ideas and
clarity of expression would be developed.
In many other directions could the central authority exercise a
beneficial influence. The study of selected standard works on Eco­nomics
or Financial subjects might be prescribed, from which help­ful
topics for discussion could be drawn. This would enlarge the
reading of Students, and give a broader basis and a wider applica­tion
to their studies.
Current legal decisions offer further important opportunities for
progressive education. Here there is room for systematic treatment.
Legal decisions of any importance affecting the Profession are re­ported
weekly in the „Accountant", which is the premier organ of
the Accountancy profession in England.
These reports are available to Students, and it is submitted, are
so important to their training that they should be studied, not only
in regard to the particular decisions given, but in conjunction with
the principles of Law raised by them.
In this matter the central authority might well conduct locally
short examinations both written and oral once or twice a year, with­out
clashing with the major qualifying examinations. Successive
failures in these examinations would justify a Student being held
ineligible to sit for his next qualifying examination until the expiration
of six months from the date when he would normally have been en­titled
to sit.
EDUCATION FOR THE ACCOUNTANCY PROFESSION.
Another matter that has a direct bearing on the education of
Students is the question of textbooks. Compared to other professions
the Accountancy Profession is lacking in first class text books, and
this is due partly to the scope of the Profession, and partly to the
want of specialisation. Here again it is suggested there is opportunity
for important action by the central authority. Enterprise and the
desire for learning have created many famous works, contributed
to by men of recognised authority in different branches of a sub­ject.
Could not standard works on Accountancy subjects be similarly,
compiled on the initation of the central authority?
In Literature the Nobel Prize enjoys a reputation of its own. If
an international Prize of similar eminence were offered for works
on Accountancy subjects the encouragement to attempt a classic
would be great, and the benefit to the Profession incalculable.
It is submitted further that the publication of Accountancy text
books might, with advantage, be regulated so as to remove all ob­stacles
to their translation into foreign languages. In this event there
could be a most valuable free interchange of standard works be­tween
the nations, and it would be the duty of the central authority
in each country to advise foreign authorities of newly published
works and to supply them with copies when requested. No nation
can afford to be ignorant in any subject of the great intellectual
products of other nations.
THE EDUCATION OF THE QUALIFIED ACCOUNTANT.
It is, perhaps, a platitude to say that the education of a Chartered
Accountant does not cease with his admission to the Profession.
Many will hold that it is only then that his real education begins
in the acquisition of experience, and the practical application of
theoretical knowledge.
A proper co-ordination of theoretical knowledge and practical
experience is undoubtedly the ideal equipment in all Professions.
The point it is desired to emphasise, however, is that while ex­perience
is forced on the practising Accountant, theory has often to
be sought out, and that success in the Profession demands continuous
study, and an intimate knowledge of legal changes and up to date
methods and ideas.
16 EDUCATION FOR THE ACCOUNTANCY PROFESSION.
As an illustration reference may be made to modern forms of
mechanical equipment as aids to business efficiency and economy.
Photography, in particular, is being resorted to increasingly for the
reproduction of all forms of Accounts and statements. It ensures
complete accuracy, saves time, and economises staff by rendering
calling over unnecessary. Moreover by giving an exact copy of the
original it discloses to the Principals careless or untidy work.
This is only one small instance of the many directions in which
the practising Accountant needs to apply himself to the serious
and continuous study of the progressive changes of commercial
practice and their legal consequences.
CONCLUSION.
Insularity is a particular weakness of the English race. Though it
is less in evidence than it was, it is still too prominent a national
characteristic, and those who have the interests of the nation at
heart must welcome all measures that help to eradicate it.
International Congresses are peculiarly suited to this end, and in
the case of the Accountancy Profession, which is still in its lusty
infancy, there are special reasons for hoping that the nations will
draw closer together in a common effort for progress.
Is it too much to hope that this Congress, inaugurated in this
ancient Capital, will continue to meet each year, and will honour
in turn the great cities of the world with its deliberations ?
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