The Student's Guide to Accountancy (Paperback)

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1907 edition. Excerpt: ...Q. 10.--What are the powers of a Liquidator and how derived, in (1) a compulsory liquidation, and in (2) a voluntary liquidation, to enforce payment of calls? Mention the classes of contributories against whom he can proceed, and describe his rights against each. It is important to bear in mind that not only are the questions themselves different at each examination, but also the extent of the subjects covered by them are subject to a like variation. Indeed, it may be added that the standard of knowledge implied by these questions is by no means uniform, seeing that papers have been set at some Intermediate Examinations containing questions of greater diffiulty than others set at the Final Examination upon a different occasion. In general terms, it may be stated that in order to secure success at the Intermediate Examination the candidate is required to be a skilled bookkeeper, having a thorough knowledge of the general principles of double-entry, and some (but not an exhaustive) acquaintance with its application to the special requirements of different classes of industry.' He is also required to possess an intimate acquaintance with the straightforward propositions of the law relating to bankruptcy and the liquidation of companies, together with a slight knowledge of the law relating to receiverships; it is not necessary, however, that his legal knowledge should extend to abstruse and doubtful questions of law. In addition, he will require to be thoroughly acquainted with the general principles of auditing, in so far as these might be acquired by an intelligent clerk who had under his principal the sole control of the audit of one or two simple sets of accounts, and who had assisted a senior in more difficult audits; while it is not...