SECTIONAL TRANSACTIONS.—F*. 507 
Mr. A. B. Biaxe.—Trade associations and combinations. 
(1) Historical aspect. 
(2) Extent.and significance. 
(3), Types of combination: 
A. Permanent. 
B. Terminable. 
(4) Aims, and inherent advantages and disadvantages. 
(5) Legal status and legislative restriction. 
(6) Formation. ‘ 
(7) Conclusion : constructive uses and the current trend. 
Friday, September 8. 
AFTERNOON. 
Discussion on The réle of accountancy in scientific management (Chair- 
man: Mr. ALFRED SALT) (3.0) :— 
Mr. F. R. M. ve Pauta—The réle of finance and accountancy in the 
management of large business combines. 
The new problem that has arisen by the introduction of the modern 
large-scale organisation. Successful administration, management and con- 
trol are absolutely dependent upon a sound organisation throughout. 
The administration of a large business combine, with its wide-flung and 
countless ramifications, is affected by every movement in the economic life 
of the world. 
The point of action is often far removed from the seat of management. 
The problem is how such an organisation is to be successfully managed and 
controlled. Management itself is becoming a new science. Finance is 
the basis of industrial enterprise. Finance, including accountancy, must 
be one of the main divisions of the organisation of a large business, the others 
being production, purchasing and selling. The placing of the finance division 
in the organisation of a business. The functions and responsibilities of the 
finance division and the part it should play in control and policy decisions. 
The accountancy organisation and the interlinking of same with a system 
of budgetary control, costing and statistical records. ‘The way in which 
this organisation should be used in the management of such a business. 
The type of personnel required and their training. An outline of the 
organisation of the finance division, centralisation and decentralisation. 
The great need for speed in the production of figures, reports, etc. The 
objects of a budgetary control system. 
Prof. WM. ANNAN.—The réle of accountancy in the average business. 
Introduction.—Post-war industrial conditions outcome of invention, 
scientific discovery, world-wide competition and high taxation. Indus- 
trialists have sought to overcome adverse conditions by combination, and 
formation of large units. 
Classification of business—Big business favoured by Government and 
Trades Unions. Encouragement of mergers and holding companies. 
Reaction towards individualism and average-sized business. Proportion 
of whole country’s trade carried by such. 
Need for statistics. —Statistics necessary for average-sized business as for 
large concerns. Possible without expert staff and expensive equipment if 
