ABSTRACT
The contention of many merchants is that their accounts are worth so much to the bank that the bank can afford to make collections of country checks for them gratuitously, in addition to keeping their accounts. With the interest value of an account determined and the cost of keeping the account ascertained, it is very easy to strike a balance, thereby showing exactly what a given account is worth to a bank. The adoption of a common standard of efficiency is bound to create confidence in the minds of the investing public in the work of accountants of other countries. The April meeting of the Hartford Chapter of the Institute of Accounts, which was held on the evening of April 25, was devoted to a discussion of the plans for the ensuing year. A meeting of the Board of Governors of the New York Chapter of the Institute of Accounts was held Wednesday evening.
