Kenneth O. Elvik, Editor
IOWA STATE UNlVERSlTY

Reviewed by M. J. R. Gaffikin Massey University, Palmerston North, New Zealand

The primary purpose of this book, according to the Author’s Preface, was to provide a list of persons concerned with the early history of the Chartered Accountants in Scotland as a necessary first step in an inquiry into its social background. If it were simply a list of names with brief biographical details then it would be a book of very limited appeal; fortunately it is not. Although the major part of the book is devoted to the purpose mentioned above there is a thirty page prefatory essay, several photographs of people and places associated with the early history of professional Scottish accountancy, and a substantial appendix describing the links of some of the pioneers with early and contemporary accounting firms.

Until recently there have been few who could be referred to as accounting historians—a notable exception being the late A. C. Littleton. Even some of the more recent standard texts on the subject have tended to be little moire than mere chronological descriptions. In this prefatory essay Stewart has approached his subject in a manner more fitting a true historian. He acknowledges that Scotland was not the home of the first associations of accountants. But he also notes that by 1850 all those associations that had been formed had, disappeared almost without a trace. In the period since 1850 (the “modern” period?! the Scottish associations were the first formed and he asks “Why?”. The remainder of the essay at tempts to provide an answer and in doing so discusses some os’ the background circumstances :

1. The social and political change subsequent to the middle of the 18th century.
2. The evolutionary nature of industrial development in the same period—especially the developments in transport and communications.
3. The growth in international trade and the consequent demands far insurances.
4. The impact of the joint stock company.

Realizing that an essay of such length cannot adequately deal with such a wide sphere of interest, Mr. Stewart has not attempted to delve too deeply into each area but picked out the main arguments supporting his discussion. This has necessarily involved generalization a lot worse than others; for example his distinguishing attributes of a profession:

“The attributes which distinguish a profession are more readily recognized than defined and listed”, as opposed to,
“The Scots predilection for litigation may well also have contributed to the demand for persons of skill to elucidate accounts and assist in establishing claims.”

The essay is well written and because of the author’s continual search for justification in statements on the early development of the Institute of Chartered Accountants in Scotland it is of immediate interest to all interested in the development of professional associations of accountants.

The major sections and purpose of the book, however, is the listing, with brief biographical details, of 346 men who were entitled to describe themselves as accountants between 1854 and 1879. With such a large number it follows that biographical data is necessarily brief. Nevertheless some detail is devoted to a few. One such name, likely to be familiar to many people interested in accounting history, is, Richard Brown, editor and part author of A History of Accounting and Accountants (Edinburgh, 1905).

A straightforward descriptive account is given of his life, his association with the profession, his other contribution to the discipline followed by an indication of his “extra curricula” interests (“A man of musical and literary taste . . . “), For many only their birth and death dates, the date of their joining the profession and the firm with which they were associated are given. As already indicated, an appendix follows the biographical notes section and it is interesting to observe that some firms are still in existence with the same names today as well as the associations with some contemporary substantial firms (four of the “Big Eight”). Whereas illustrations are often merely interesting those in this book are a little more informative. They include maps of early Glasgow and Edinburgh, the first page of the Royal Warrant (Edinburgh Society) of 4 November 1854, bank notes, institution buildings and many portraits.

There is little doubt that this book is a notable addition to the accounting history literature. While its primary purpose of providing biographical notes of Scottish Accountants in the first 25 years of their association may seem unduly narrow it does contain significant resource material. In addition, there is the prefatory es say which, although limited by size, suggests new insights into the reason for the development of the first professional accountancy associations in the modern era. A book well worth recommending to all those who profess an interest in accounting history.

Thomas J. Burns & Edward N. Coffman, The Accounting Hall of Fame: Profiles of Thirty-Six Members (Columbus, Ohio: College of Administrative Science, The Ohio State University, 1976, pp. vi, 88, single copies available upon request)