Current account

“ As it is all important to distinguish between those who labor in behalf of the people on the general account, and those who labor in behalf of the people on their own account, some of the rules by which each may be known shall be pointed out. ”

“ A title which does not clearly and truthfully indicate the nature of the account, or one which is so chosen that under it may be recorded items of various and doubtful kinds, gives prima facie evidence of an imperfect knowledge of accounting principles or of a desire to hide data which will not bear close scrutiny. ”

“ For the report form, it may be said that this method follows the reasoning of the average business man, particularly the man unacquainted with accounts, who subtracts his liabilities from his assets to find how much his present net worth is. The account form rests on the fundamental desire, deep-rooted in the system of double-entry bookkeeping, to show the two sides in balance. ”

“ Congress is made the guardian of this treasure; and to make their responsibility complete and perfect, a regular account of the receipts and expenditures is required to be published, that the people may know, what money is expended, for what purposes, and by what authority. ”

“ Let exact accounts be kept with all the country societies round about you, that have their books from your stock; and desire the stewards of those societies to take the care of those books they receive from you upon themselves, and to engage for punctual returns of money, or an account of the books unsold being safe in their hands. ”

“ There is an account in our committee and consultation proceedings, as large as a general return, with as many columns, specifying the sums of money received, and to be received, by whom, and to whom, and on whose houses drawn; in short, the Directors, when they first see these papers, will imagine it to be an account of increase of revenues. If you can get John Walsh into a humour of entertaining you upon these matters, he is qualified to do it better than any man in England. ”

“ Each political party shall maintain in account books an accurate accounting for all party funds and property. Such Account books shall be securely kept at the party Office and shall be available during business hours for governmental employees for examination by authorized representatives of the Bureau of Public Information who display signed and sealed authorization of such examination. ”

“ Accounts which record income and expenses usually comprise only similar items, as where all sales of merchandise are recorded under one head or account and all purchases under another.
The Account Title.—The title given to an account is important. It should indicate clearly the content of the account. Accuracy is a basic necessity in accounting. ”

“ Since the closing of the books contemplates the drawing up of financial statements and since all record-keeping must have in view from the very beginning a proper classification of accounts giving the desired information to be reflected finally in the statements, it seems best at this point to consider some phases of account classification before proceeding with a detailed explanation of the method used in adjusting and closing the books. ”

“ The accounts are kept as if every different sort of account belonged to a separate person, and had an interest of its own, which every transaction either promotes or injures. If the student find that it helps him, he may imagine a clerk to every account: one to take charge of, and regulate, the actual cash ”

“ Instead therefore of following the Account which had been communicated to me, I contented myself with relating, That it was reported, some Hamburghers had given a Sum of Money secretly to Count Steinbok. This Report became universal, and was founded on Appearances. An Historian is allow'd to insert Reports, as well as Facts, and when he publishes a general Report, an Opinion, merely as an Opinion, and not as Truth, he is neither responsible for it, nor ought to be accus'd in any manner for so doing. ”

“ Real Account. A real account is a record of transactions with respect to a particular property. Properties which we possess are termed resources or assets; therefore all real accounts are also asset accounts. ”

“ The political activities account must be administered using generally accepted accounting principles. All funds used by the person to make independent expenditures must be drawn from the person's political activities account. ”

“ There should follow a complete record of the deliberations and authorizations of the board of directors as affecting the management and control of the corporation’s policy. The minute book is often the source of authority for many of the most important entries made on the books of account, and great care must be used to make the record full, complete, and accurate. Such matters as leases, purchase and sale of properties, bond issues, dividends, and other similar items should have very careful record. ”

“ The modern accountant must first know the kind of information that is desired and he then can classify the accounts so that the information may be obtained from the ledger or other records at any time, with the least possible effort. ”

“ The society is every year to give an account in writing to the Lord Chancellor, or Lord Keeper of the great seal, the Lord Chief Justice of the King’s Bench, or the Lord Chief Justice of the Common Pleas, or any two of them, of the several sums of money by them received and laid out, and of the management and disposition of the revenues and charities of the society. ”

“ To aid the assessor in fixing the value of such shares, the corporations shall furnish him a verified statement of all the matters provided in the preceding section, which shall also show, separately, the amount of capital stock, and the surplus and undivided earnings, and the assessor, from such statement and other information he can obtain, including any statement furnished to and information obtained by the auditor of state, which shall be furnished him on request, shall fix the value of such stock, taking into account the capital, surplus, and undivided earnings. ”

“ In this capacity he reorganised and simplified Indian accountancy work, reducing to codified form the numerous departmental circulars, over which rules for account and treasury officers were dispersed. ”

“ If you at this time happen to be looking for a man really to manage your office, audit accounts, or take charge of credits, my qualifications and business record will show you that I am able to act in any or all of these capacities. ”

“ The other chief source of evidence to establish a fact which consists of a large and complex state of affairs is the opinion of recognized authorities on the subject. The strength of such evidence depends on whether the audience will accept the person you cite as having authority on the matter. Most of us read some newspaper or periodical in the opinions of which we have confidence, because they seem to be based on investigation and competent knowledge. The annual report of the Secretary of the Treasury is excellent evidence on the state of the national finances. ”

“ Let every one contribute, according to his ability, towards the common fund, of which an accurate account will be kept; and the amount subscribed, let it be ever so small, shall yield interest at four per cent., as pre-arranged ”

“ The items in these reports are manifestly made up from statements and details of the daily business furnished by the collector. They are necessarily condensed when carried to a ledger account, and the results of many items or of some considerable period of time, may be stated in a briefer from than they stood upon the original entries. The means of particular information are open to either party. We see no objection on this ground to the evidence now presented, and are of the opinion that there was error in its exclusion. ”

“ These transcripts are intended to be statements made up by the accounting officers of the Treasury Department from the quarterly accounts rendered by the officer with whom the account is kept, after an examination and adjustment of such quarterly accounts, and the allowance or disallowance of the several items contained therein. ”

“ In everything, you must take care that the said treasurer records in his book and in that of said accountant, stating what is delivered to him, and the results of the bartering, it being entered in his book and in that of the said accountant—every one being present at the entries in said books, in order that each division of said entries may correspond with that of the other book, no more in one book than in the other. ”

“ THE prudent and thrifty tradesman once a year takes an account of stock, and thereby assures himself as to what goods he has in possession, as well as what gain or loss may have accrued to him as the result of the year's transactions. So the nation, or, if we please to use the figure of personality, "Uncle Sam," deems it wise occasionally to take an account of stock; only this is done but once in ten years, and is called "taking the census." ”

“ I haven’t got the ruled account-book, I have none of the tax-gathering elements in my composition, I am not at all respectable, and I don’t want to be. ”

“ Je mets cela en ligne de compte = I take that into account.
Faisons un compte rond = Let us make it even money.
Pour se rendre compte de la chose = To get a clear idea of the matter.
Nous sommes de compte à demi dans l’entreprise = We are partners on equal terms in the venture; We are going halves in the venture.
À chacun son compte = To give every one his due.
Au bout du compte = Upon the whole; After all.
Enfin de compte = (lit.) When the addition is made; (fig.) When all is told; When all is said and done.
Il a son compte (or, Son compte est réglé) = 1. (lit.) He has his due. 2. ”

“ The mere records of the transactions had in the world of money and of merchandise belong to the ordinary method of dealing with all matters that interest the people. The facts—the results—only enter into the consideration, and if serious conflict or serious faults are recorded, no attention is paid to the sources from which they spring, and from which they will continue to spring so long as the sources furnish the causes. ”

“ Amid an immense mass of material, of which part has long ceased to have any interest, and part never had any but an official interest for those engaged in the practical business of administration, there are a great many reports, or passages in reports, which possess real value in the history of institutions. ”

“ Like in an industrial enterprise, new relations give rise every day to new accounts, and incessantly modify the internal organization of labor, the distribution of workers and employees, the employment of machines, etc.; thus, in society, new knowledge, great discoveries, incessantly produce new mores and modify the general economy. But just as in any commercial or industrial company, the principles of accounting, the general system of records is invariable ”

“ It assumes the possession of a wide knowledge of the principles upon which accountancy is based, which may be shortly described as constituting a science by means of which all mercantile and financial transactions, whether in money or in money’s worth, including operations completed and engagements undertaken to be fulfilled at once or in a future, however remote, may be recorded ”

“ In short, a methodical table as specific as possible and highly instructive to a jurist or accountant, but perfect jargon to peasants, most of whom can scarcely write their name and who, on Sundays, are seen standing before the advertisement board4226 trying to spell out the Journal Officiel, whose abstract phrases, beyond their reach, pass over their heads in aerial and transient flight, like some confused rustling of vague and unknown forms. ”

“ With such information to point the way to economies in the future, instead of records that show us merely the amount of an expense already incurred, accounting takes its rightful place as one of the most important functions of a business enterprise. ”

“ And as we pass from this to the conduct of a business we recognize that the man who engages in commerce without keeping proper accounts is a fool and courts failure, and that the larger the business and the more widespread the interests, the more complicated and extensive must be the bookkeeping. A large commercial concern may thus employ a special department with a large staff of men simply to keep record of its financial transactions. This is probably the most ancient kind of statistical record and the one whose usefulness is most generally recognized. ”

“ Annual publication of Accounts, which are audited by Public Accountants, who are in no way interested in the Society.
No advantage is taken of a Member’s temporary inability to pay the Premium, as the Society will, on application, advance the required amount as often as the value of the Policy will admit. ”

“ In addition to this control secured by checking the results obtained by one group of accounts against those of another group, is the important advantage of presenting in the record a mass of statistical information for guidance in the conduct of a business, without which the present-day enterprise with its many complexities of organization and working could not hope for any certain measure of success. ”

“ Outside operators having capital, experience, and knowledge of the general conditions of business. Testimony is clear as to the result which, in the long run, attends their operations; commissions and interest charges constitute a factor always working against them. ”

“ An expert accountant sold himself into a fine position as the auditor of a great corporation by anticipating that the Company would need to have its system of book-keeping revolutionized in order to prepare for the Federal income tax. ”

“ An important thing to keep in mind in connection with all accounts and reports of the receiver is the necessity for making full and adequate explanations of all entries, giving the authority for them and their source. ”