Through the years with the controller, then financial executive.

• Author: Heffes, Ellen M.
• Position: Financial executive - Editorial

This is part of a series compiled by the editors that highlights some key developments in the internal and external environment for financial executives via looking back at articles published in past issues of the magazine. Featured here: 1934 (the first year), 1969, 1981, 1999 and 2004.

1934, July-August, The Controller, Editorial Comment:

"What is the soul of this controllers' organization, the fundamental idea on which it is based? That question was asked by the controller of one of the largest corporations in Pittsburgh. He has been a member of The Controllers Institute of America for six months, and is active in its work.

"The answer to the question was given promptly. It is: 'Service to American business.'

"Whatever controllers may do to make themselves more useful to their companies, helps the conduct of business; exchange of views by controllers, the passing on to controllers of information as to how specific problems are handled by those who have made intensive studies of particular questions, has proved of immense value. The making of acquaintanceships among controllers aids this development.

"So long as the controllers' organization is kept on that high plane, it will be a valuable body."

1969, August, Financial Executive, "The Coming Age of Management Information Systems," by Earl C. Joseph, Univac Federal Systems Division.

"By the mid-1970s, unless managers use management information systems in their daily conduct of business, they will find themselves incapable of performing management tasks.

"Tomorrow's managers at all levels and for all functions will be deeply involved in the use of computers. They will make daily use of computers in carrying out their management responsibilities."

1981, July, Financial Executive: "Accounting Vs. Reality: How Wide is the 'GAAP?'" by Duane R. Borst, comptroller, Inland Steel Co.

"The accounting profession has come under attack from many quarters of the public sector. Harold M. Williams, former chairman of the Securities and Exchange Commission, said:

'A number of events have shaken the using public's confidence in the credibility of financial reports. Indeed, a major part of the stress which the [accounting] profession has been under stems from its own failure in the past to recognize in a timely manner challenges to the discharge of its only responsibility. ... to ensure credibility and reliability in reporting financial information to users of that information.'

"Too many businessmen and...