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Wall Street Accounting a Description of the Business of Brokerage, Its Accounting Records and Procedure (Classic Reprint)
by:Frederick S. Todman
The present volume represents an enlargement and fundamental revision of the authors Brokerage A ccounts, published in 1916. The functions of the great Exchanges have not been altered by the march of the extraordinary events of the last five years. Their economic value has become more fully and more widely recognized during and since theW orld War. Their...
The present volume represents an enlargement and fundamental revision of the authors Brokerage A ccounts, published in 1916. The functions of the great Exchanges have not been altered by the march of the extraordinary events of the last five years. Their economic value has become more fully and more widely recognized during and since theW orld War. Their accounting procedure, however, has had to be very largely reconstituted to take care of the grave responsibilities and the overwhelming volume of business of these years. In pre-war years the annual average of bond sales totaled $800,000,000. Today the volume of bond sales reaches very near to $6,800,000,000. In 1920 the sales of stocks approximated 224,000,000 shares as against an annual average of 196,500,000 before the war. To develop adequately the old system of accounting so that the enormous turnover of business could be handled without a physical breakdown of the recording machinery necessitated the closest and most intensive accounting study. The resulting elaboration and modification in Wall Street accounting procedure has made desirable a thorough revision and modernization of the old volume. It is the authors hope that this effort at a systematic presentation of a complex subject may prove useful to his brother accountants, as well as to the brokerage fraternity daily confronted with these technical accounting problems. Acknowledgment is expressed to the following gentlemen for their kind and generous assistance: Charles(Typographical errors above are due to OCR software and don't occur in the book.)About the Publisher Forgotten Books is a publisher of historical writings, such as: Philosophy, Classics, Science, Religion, History, Folklore and Mythology.Forgotten Books' Classic Reprint Series utilizes the latest technology to regenerate facsimiles of historically important writings. Careful attention has been made to
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