ACCOUNTANCY.

Dominion, Volume 5, Issue 1548, 18 September 1912, Page 2

ACCOUNTANCY.

INSTITUTE'S ANNUAL MEETING. MOVING QUIETLY AHEAD. An indication that the Incorporated Institute of Accountants of New Zealand is moving quietly ahead is contained in the. annual report of the council, presented lo members nt tho annual meeting yesterday. The report states that the membership now stands at 380—an increase of nine during' the year. The council is satisfied (hat the institute fulfilled i(s moral •' obligations to tho candidates, who presented ' fhoniseives for examination during tho year. The report also contained the following:—An extraordinary general. meeting was held in September, at which the following resolution was carried:—"-la. Members by examination of the New Zealand Society of Accountants, incorporated under the New Zealand Society of . Accountants' Act, 1908, may be admitted members of the institute' subject to the same provisions as to reputation, ehiifac-' ter, and competency as those enumerated in Article-No. 3 and in accordance with the proceedings laid down in that article, except that in their case the minimum ago shall be 25 years for a Fellow and 21 years for (in Associate, and the ontranee fees shall be .tit 3s. and .CI Is. respectively." Tho subject chosen lor the prize essay competition for 1911 was "Land and lncoms Tax (N.Z.)—lts Method of Assessment and Treatment iii Accounts,' with comparative reiereuce to English Methods." As in tho past, a very small number of papers wero sent in, and justified the decision ooino to at the last annual meeting to discontinue the competition. The papers were adjudicated upon tiy tho president, Mr. W. "\V. Bf uce, who reports that ho considers the essays are good. He placed'the result asfollows: First, B; T. Tosswill; second, J. D, Eves; third, Will Appleton. Tliejanmial statement of accounts shows that the institute has .£7OO on "fixed deposit, and a credit balance in the bank'of .£IOB Is. Id., and in hand £i is. Tho excess of income over expenditure for the year i 5..£65 12s. 2d., but on account of the donation of .£IOO to the N.Z. Society of Accountants, this is converted into an excess of expenditure over income of ,£54 7s.- 10d. (depreciation" .£2l 9s. 6d. included). The donation of ,£11)0 was the first of the five annual payments of this amount decided to be made in accordance with the resolution passed at the last annual meeting. It will be remembered that, the N.2..Society of Account-, ants had concluded an arrangement wkh the New Zealand University, whereby the accountancy examinations held heretofore by this institute and continued for one -year by tho society Were to be conducted by the University. _ Th.e arrange-, iheiifs entailed some financial support by the accountancy authorities towards the University, add the society had agreed to find UI4OO per annum, and'this was supplemented by .a further .£IOO by the institute. The accumulated fund now stands nt .£836 7s. Id. The outstanding subscriptions for the vear amounted to M 9s. '(including .£1 11s. 6d. from tho previous year). '. The report and balance-sheet were adopted at yesterday's meeting at the Chamber of Commerce. , Election of officers resulted as follows: -i-Fvesidkint, Mr. \V. B. Hudson; vice-' president, Mr. W. M'Culloch; council, Messrs. J. S. Barton and B. A. Vickery (Wellington), ■ Newburgh and Bicknell (Christchurch), A. B. Robertson (Auckland), James li'arquharson (Duncdin), and W. A. Kyan (Dannevirke). : Annual Dinner, Tho annual dinner of tho Institute was held, last night at the Burlington C'<\fe, Lambton Quay. Mr. W. W. Bruce, of Auckland, presided, and among those present wero Colonel Collins (AuditorGeneral), and Mr. A. E. Mabin (chairman of tho Chamber of Commerce). Apologies for unavoidable absence wero received • from tho Hon. A. L. Hcrdman, the Hon. Jas. Allqn, Mr. A. M. Myers, M.P., find a number of others. 'After the toast of the reigning sovereign had been drunk, thn chairman proposed that of "Parliament," and in doinfj so referred in complimentary terms lo the Prim* Minister (tho Hon. W. P. Massey). In Auckland they all knew Mr> Massey, 'end the keynote of his life had been honesty of purpose. .A? Prime- Minister hoi had gathered, round him some of the ablest men in the Dominion at this time. Ho (the speaker) was. sorry that the Government did not include Mr. A. M. Mycfs, who was recognised ns a very n.blo man. But if tho latter had made a mistake he was going the right way to rectify it now. (Laughter.) Touching on party government, Mr. Bruce ro-ferred-'to, what had been done Einoe tho present Administration came into power and expressed the opinion that there wero visible signs that government would bo knocked out—one of the best things that could bo clone. This Was a country of democrats, in which thero was no such thing as Whig or Tory. T'hoy wanted the best .men for tho positions, aiiif as thb'b'ost men came forward ho thought party government would bo a: thin-r of the past. Mr. Bruce then spoke of what Tiad been done'in framing law to regulate nceoiintjmcAy and then ennie to the subject of affiliation with the university, which, he said', had stamped the Itall-mnrk on accountancy. Now that examinations wero to be conducted by Hie University, they knew tliat the affairs of ' ncconntnncv'.wero safe for some years to come. Hut they wanted tho Government to acknowledge accountancy, and when important positions were to be filled to examine for. them. If the Government continued to recognise qualified accountants ,is they had done in two instances recently, something Would liavo been done for which tho institute woiild be thnnkful. Finally, Mr. Briice ventured, the suggestion that if mwntora of Parliament had training as accountants the country would bo better for it.; (ApColonel Collins repliod to the toast (ir the absence/of any M.P.), and in the course of.a humorous speech.promised flu institute that its wants would be attend. eil to—when he got into Parliament. Other toasts honoured were: 'The Insti. hitc," proposed bv Colonel Collins and responded to by Mr. W. B. Hudson and Mr. W. M'Culloch j "Commerce," pro posed by Mr. C. H. Matthews, and re sponded to by Mr. A,. E. Mahin; "Kindred Societies," proposed by Mr." .7. S. Barton and responded.to by Messrs. H. A. Gold li.. WilberfoSS, and C. ft. Mazpnftarb; anr "Tho Chitirman," proposed" by Mr. E, W Hunt.