Originally published in 1949, this monograph by esteemed accountant Frank Sewell Bray emphasizes the key virtues of precision, uniformity and order, which he believed to be essential to the correct practice of applied economics and accountancy. Bray provides extensive sample statements to illustrate his points, as well as a glossary of terms and concepts in use among both economists and accountants. This book will be of value to anyone with an interest in the history and development of accountancy, or in the overlap between accountancy and economics.