Reviewed by Araya Debessay University of Delaware
This book is a biography of Charles Ezra Sprague (1842-1912), a man described as:
An embodiment in its highest form of the rarest of all combinations, that of the business man, the scholar, and the scientist, having been distinguished as a banker, as a stimulating teacher and linguist and as an author of many invaluable treatises on accounting, some of which were pioneer works in their fields.
(Title page)
The book was first published in 1931 and is reprinted under the Arno Press Collection series of noteworthy publications in the development of contemporary accounting thought.
The book has an introduction written by the then dean of the School of Commerce, Accounts and Finance, of New York University in recognition of the role Sprague played in its establishment.
Sprague has made significant contributions to accounting and to the growth of the accounting profession. He wrote numerous articles and books during his life time. His most significant literary contribution to accounting is his book, The Philosophy of Accounts (1907). Although it certainly was not the first book in accounting, it is regarded as the first book in print to deal with the “theory of accounts.” Sprague’s professional career was primarily in a banking institution where he grew from a clerk to being the president of a leading bank of the time. He was one of the first to qualify as a certified public accountant, and served on the board of examiners for certified public accountants. His devotion to accounting led him to be a well remembered accounting teacher while he served as a president of a bank.
This book is divided into six parts. Part I provides an account of Sprague’s family history, his upbringing and schooling. Part II describes Sprague as a soldier and his participation in suppressing a rebellion in the South in the Spring of 1862. Part III narrates Sprague’s role as a tactics teacher in militay schools and his writings on military topics. Also covered in this part is Sprague’s involvement and interest in the development of a universal language. Part IV dwells on Sprague’s part as a banker and his contribution to the banking profession. Sprague’s accomplishments as an inventor are also recounted in this section. The significant role he played in the development of the accounting profession is described in Part IV. Part V discusses Sprague’s literary accomplishments. The last part of the book, Part VI, gives an overview of Sprague’s achievements.
Except for Part II, which this reviewer found to be a bit tedious, the book is generally very interesting to read. One cannot help being inspired to higher ideals by reading this book. This book has brought into light the biography of one of the prominent personalities in accounting who has used his talent so fruitfully in contributing so much to society. In this respect Helen S. Mann’s book on Charles Ezra Sprague is worth reading.
