Future of the Accounting Profession.

Abstract The accounting profession today does not fear change. It welcomes it with optimism and deliberate enthusiasm. Because of the developments of operations research and electronic data processing on the one hand, and of global business expansion on the other, all accounting mores are being challenged and attacked. The idle technological and man-power capacity already in existence and still being increased can he effectively put to use if some means could be developed to improve the cooperation of the public and private sectors of the economy. This does not mean more government interference with business. It means more mutual respect and consideration for one another's problems and objectives, and cooperation one with the other when such cooperation is in the best interest of all. In the U.S. Federal Reserve System and the banking industry one have such a working together of the public and private sectors of the economy. Experience showed that society and technology were changing too rapidly, more was needed. Positive steps were then taken to upgrade and substantially revise the courses at universities.