Footnotes;Moves between offices;

              FOOTNOTES
* So all the world's a stage, and our
Cleveland Office has taken to the
boards with a travelling roadshow. It's
all in the interest of better understand­ing
between public and accountant.
The show, called "Accounting is an
Art," gives its audience a glimpse be­hind
the scenes as a CPA confers with
his client on problems arising in the
course of an audit. The entire show is
an ad-lib discussion of a series of prob­lems
which the "actors" try to solve.
Initially developed for presentation
to accounting clubs and classes at the
university level, the "play," set at the
fictitious Otto Chemical Company,
stars: Elmer Beamer as Audit Partner,
Jack Favret as Senior Accountant,
Frank Otto as Company President and
Byrne Kelly as Controller.
The show centers on the financial
problems of the Otto Chemical Corn-
Symbol of Canadian vitality, fully mounted
skin of timber wolf was presented by
Ian Macdonald, head of MAS in DPH&S
Canada, to Gordon L. Murray, his
opposite number in H&S, at Chicago
MAS meeting (see page 4).
pany. Typical among the controversial
problems discussed are the recognition
of a contingent liability, valuation of
inventory, and proper accounting for a
patent infringement suit.
The patent infringement suit in­volved
Baffle—a solution for spraying
on candy canes to keep the peppermint
essence from evaporating. Henry Flair,
a chemist, had invented it shortly after
being hired away from Bomf Chemical
Company, a competitor. Baffle was
highly profitable, and two years later
Bomf filed its suit, which was settled
out of court.
"Why," asks President Otto at the
year end, "after we arranged so very
carefully to pay out Bomf's claim over
the next three years, do you auditors
now say I have to show the whole
amount on the balance sheet this year?
The bank won't like it." "You don't
deny you have the liability?" responds
Jack Favret. They then go on to ex­plore
the possibility that some of the
payment is in the nature of advance
royalties that might be charged to in­come
over the succeeding years.
When our "thespians" performed for
the benefit of the Cleveland Chapter of
The American Society of Women Ac­countants,
they so intrigued the ladies
that the chapter requested permission
to use the idea at their annual meeting.
Royalties were waived, and under
Frank Otto's tutelage the ladies set up
their own company, Blue Sky Cosmet­ics.
They discussed a whole new set of
problems peculiar to that industry, in­cluding
a law suit based on misleading
advertising and the inventory value of
secret ingredients in a face cream.
* Mr. Queenan's Cape Town speech of
last June was considered "rather revo­lutionary"
by South African account­ants
according to a Seattle student, Joel
Crosby, who noted reactions when visit­ing
the country several months later.
The accounting profession down there
is growing apace to keep up with Afri­ca's
industrial development, and the
speech is being widely circulated for
its advanced view and global outlook.
Joel Crosby is a University of Wash­ington
senior working several after­noons
a week in our Seattle Office at
anything from clerical jobs to help in
the tax department. He was sent last
Summer by the University Presbyte­rian
Chuch to work with Africa Enter­prise,
a group attempting to show that
the Christian faith is relevant to that
continent's process of modernization.
Joel is an accounting major and 2nd
vice president of Student Government
at the University. He is also a member
of the Committee of student leaders
who helped plan the Washington State
Governor's Prayer Breakfast, and last
Spring was on the Seattle delegation to
President Johnson's Prayer Breakfast in
Washington, D.C.
On his way to South Africa Joel
travelled through the Middle East and
parts of North Africa, visiting Leba­non,
Jordan, Egypt, Ethiopia and
Kenya. In Cairo he was asked by a
minister to give a speech. Throughout
his talk the church was under surveil­lance
by the secret police of Egypt,
where laws strictly forbid any attempts
to convert the Moslem people.
In Ethiopia Joel bought a beautiful
monkey rug at a bargain price. He soon
learned that the government had for­bidden
the export of the rugs. As police
attempted to question him a large
crowd gathered. The entire group
marched off with him to the jailhouse,
but with the help of an official and a
young Ethiopian who spoke English
Joel was freed. He got to keep his rug.
In South Africa he visited the
DPH&S office in Pietermaritzburg and
was cordially received by partners
Frederick Sage and C. B. Ibbetson Por­ter.
Joel and young Nigel Porter be­came
close friends. Nigel is also study­ing
accounting and working part time
with DPH&S.
* Lorin Wilson, partner-in-charge of
Los Angeles Office, was elected Presi­dent
of the Association of CPA Ex­aminers
at its annual meeting in Octo­ber.
The Association, a national organi­zation
of past and present CPA mem­bers
of state boards of accountancy, has
for its objective the achievement and
evaluation of uniform accounting legis­lation
and regulation in all 53 jurisdic­tions
granting CPA certificates.
Book Review
The Source by James A. Michener, re­viewed
by John Paul Dalsimer, senior
accountant, Executive Office.
Anyone who is optimistic about man's
24