See " Certified Public Accountant."
One who has passed an examination (in certain States) and received a certificate authorizing him to use the title " Certified Public Accountant," or the initials " C. P. A.," which signifies that he is qualified, by the test of that State, to perform such duties as set forth under the subject " Auditor."
In Great Britain " chartered accountant" has the same meaning."
Stock exchange is the meaning in this country.
Reducing the " book value " of a property in accordance with the market value at the time is called " charging down; " for example, a banking house owns $100,000 worth of bonds, which, since purchase, have declined in salable or market value five per cent, below the original cost. In order that the banking house may not be deceiving itself in its bookkeeping, it reduces the value of these bonds by $5,000, charging the amount of such reduction against any profits which it may have, and the $5,-000 is the amount " charged off." This method of " charging down " is pursued not only in the case of securities where a loss is incurred, or merchandise owned, which may have depreciated, but in the case of a manufacturing corporation a certain proportion each year of the value of the machinery, or, in fact, anything subject to wear and tear is " charged down."
(See "Bank-Book.") Also a form or blank used among " clearing-houses."
The same as an " auditor," to which refer; only a "chartered accountant" is one officially authorized to do such work, and is an English title for one who holds a charter from the " Institute of Chartered Accountants."
See " Chartered Accountant" and " Auditor "
Each national bank, at the time of beginning business, is assigned a certain number by the government which is expected to appear on all its stationery, called its " charter number." This number always appears on a bank's circulating notes.