Reviewed by Edward N. Coffman Virginia Commonwealth University

The Encyclopaedia of Accounting (Encyclopaedia), edited by George Lisle, consisted of six volumes published in 1903 and 1904 by William Green and Sons of Edinburgh, Scotland. They contain “two hundred principal articles and many more minor notes on a variety of subjects in accounting and related fields of interest” (Preface).

Seventeen of the principal articles in the Encyclopaedia have been reprinted in Selections from Encyclopaedia of Accounting 1903, edited by Richard P. Brief. In addition, the first section of this book consists of reprints of the book reviews of the Encyclopaedia that appeared in The Accountant’s Magazine shortly after each of the six volumes was published. These reviews are helpful in evalu-ating the Encyclopaedia, which Professor Brief refers to as the “first handbook of accounting” (Preface).

The second section presents the selected articles, which deal primarily with accounting history, financial accounting, and cost accounting. The content of each is summarized below.

1. “Accountant” by Richard Brown (6 pages) is a history of the growth of the accounting profession in Scotland.

2. “Accountants Abroad” by Th. Limperg, Jr., (3 pages) discusses the development of the accounting profession in The Netherlands.

3. “Accounting in Its Relation to Economics” by Victor V. Bran-ford (27 pages) discusses the relationship of accountancy to economics in regard to value.

4. “Auditing” by Lawrence R. Dicksee (31 pages) discusses the general principles of auditing, the duties and responsibilities of auditors, and the legal position of auditors.

5. “Averages” by Arthur L. Bowley (8 pages) is a quantitative article describing the nature and use of averages.

6. “Balance Sheets” by George Lisle (14 pages) discusses the nature of the balance sheet and the illustrated arrangement of items on the balance sheet.

7. “Book-keeping: History” by Richard Brown (2 pages) summarizes the origin of bookkeeping.

8. “Book-keeping: Literature” by Richard Brown (3 pages) provides a comprehensive list of books on bookkeeping. The list includes the title of every book he could locate written in European languages through the 17th century; thereafter, only books written in English are included.

9. “Book-keeping: Its Adaptability to the Requirements of Every Class of Undertaking” by Lawrence R. Dicksee (6 pages) supports double-entry bookkeeping by explaining how every con
ceivable class of business transactions can be recorded according to the rules of double-entry bookkeeping.

10. “Cost Records or Factory Accounting” by John Mann, Jr., (40 pages) discusses the advantages of good cost-keeping and the essential characteristics that all systems of cost accounts should include. Examples of various systems and the related forms are presented.

11. “Depreciation” by Edwin Guthrie (20 pages) discusses various aspects of depreciation with emphasis on determining the proper charges for depreciation.

12. “Diagrams” by Arthur L. Bowley (11 pages) explains, with accompanying illustrations, how diagrams can be used to present information effectively.

13. “Factory Organisation and Costing Arrangements” by Cossar Mackenzie (16 pages) deals with designing a system of cost accounts to provide useful information about the enterprise.

14. “Foreign Currencies and Their Treatment in Home Accounts” by George Lisle (9 pages), discusses some of the principles of foreign currency translations.

15. “Oncosts or Expenses” by John Mann, Jr., (27 pages). “On costs” are defined as “all the elements in a product which do not fall under productive labour, materials, or profit” (p. 199, irregular). Mann elaborates on how these costs are ascer tained, classified, and allocated.

16. “Reserves and Reserve Funds” by Sidney S. Dawson (7 pages) explains the various usages of the term “reserve.”

17. “Stocks and Stocktaking” by John A. Walbank (16 pages) discusses various aspects of taking and valuing an inventory.

A list of the authors of the principal articles that appeared in Volumes I-VI of the Encyclopaedia comprises the third and last section.
This book provides an insight into accounting in Great Britain around the turn of the century.