COMMERCIAL STUDENTS.

Taranaki Daily News, 23 August 1922, Page 7

COMMERCIAL STUDENTS.

AN INTERESTING ADDRESS. A special meeting of the New Plymouth Commerce Students’ Society was held yesterday afternoon, when about. 40 members attended. Mr. C. H. Burgess presided. An interesting address was given by Mr. H. A. Gold, a well-known Wellington accountant, the subject being “Criticism of Accounts.” Mr. Gold said the science of accounting was first applied by the Italians. From Italy the idea spread l to Western nations, and progress and evolution graduallv changed and broadened the system until the present efficient state of accountancy had bepn reached. He would not like tn say what condition of affairs would prevail without a scientific system. The trade of the world, transport, exchange and distribution of commodities all depended upon the establishment of credit, and credit, was maintained by a definite system of accounting. A commercial undertaking could not be conducted properly without a scientific system of accounts. For the subject under discussion he had arranged a number of actual balance sheets taken from- old copies left in his office. He wished these samples could have been available sooner, so that students could have studied them. The speaker then went on to criticise and explain the balance sheets of six different concerns, namely: (1) A building and investment company; (2) a co-operative association; (3} a manufacturing company; (4) an insurance company; (5) a business having a London office; and (6) the Bank of New Zealand.