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The announcement of the death of Jacob (Jack) P. Friedman on June 8, 1965, brought sadness to all of us and particularly to those who knew him so well. Ill health had forced Jack to retire from the firm as an active partner in 1957. For many years he was a partner of Touche, Niven & Company in the New York office. He remained there after the formation of Touche, Niven, Bailey & Smart, served as an initial member of its Policy Group, and was managing partner of the New York office. Jack Friedman was an ardent student of auditing and accounting where his specialty was so well known to the retail trade that he was often referred to as the "dean" of retail accounting. His writings were prolific on a number of subjects, particularly on the retail method of inventory. His early book on this then new approach to inventory valuation was used as a text book by many educators and practitioners. In later years he showed the same keen interest to the application of LIFO to retail inventories and many of his articles appeared in professional and trade periodicals. He contributed greatly to the firm's image in retailing and our retail clients spoke of him with esteem. Jack was a sound and thorough auditor. He was a "stickler" for examining methods of internal control and was ever aware of changes in tax legislation and the possible effect of these changes on the income of his clients. The handling of deferred profit on installment sales was one of his pet subjects. Many organizations and groups called upon Jack to address their meetings on technical subjects and he spoke frequently. He was an extremely active member of the AICPA and served on many of its committees including the Committee on Accounting Procedures. He took a similar interest in the affairs of the New York Society of CPAs and the Controllers' Congress of the National Retail Merchants Association. We are left with a greater heritage because we were fortunate to have known and worked with Jack Friedman over the years of his business career. We extend our deepest sympathy to his devoted wife, Sadie, and their two daughters, and know that they are' justifiably proud of his life's accomplishments. We will miss you, Jack. 47
Jacob P. Friedman, Memorial
Wagner, Edwin H.
Friedman, Jacob P.
Friedman, Jacob P.
Touche, Niven & Company. New York Office
Touche, Niven, Bailey & Smart. New York Office
Quarterly, Vol. 11, no. 3 (1965, September), p. 47
|Source||Originally published by: Touche, Ross, Bailey & Smart|
|Rights||Copyright and permission to republish held by: Deloitte|
|Format||PDF image with OCR under text, scanned at 400dpi|
|Collection||Deloitte Digital Collection|
|Digital Publisher||University of Mississippi. Digital Accounting Collection|