In Economics 18, Professor Cole's course on "Principles of Accounting," an experiment is being made in the application of something like laboratory methods. Each student taking the course in the spring is required to make a report on the business of a corporation, on the basis of printed accounts which are put before him. Hereafter the investigation and the framing of the report will be done as a continuous piece of work in a single room where all the materials will be gathered, and under strict supervision as to the time employed. Pierce 307 is reserved for the work, and each student will do all his work on his report within one calendar week.
Practical Accounting Required.
The purpose of the report itself is to give practice not in collecting, but in interpreting figures. The conclusions given in the report are to be such as would be given to a person who asked for an expert opinion on the condition and business of a corporation for the period covered by the accounts given to the student. The work is simply the application of the principles of accounting, and the work done on the report is as far as possible done in the same way as it would be in actual business.