Excerpt from Sinking Funds, Reserve Funds, and Depreciation
The subject of Sinking Funds, Reserves, and Reserve Funds is one which appears to be very little understood by the majority of students. This has certainly been the case in my experience with pupils both commercial and municipal. Many requests to deal with the matter fully, in class, have been received.
With the object of helping those persons I prepared some notes and illustrations and now in the hope that the information may benefit a much wider circle of students I have made numerous additions and have arranged the notes for publication in book form.
A matter closely allied to Sinking Funds and Reserve Funds is "Depreciation." And to me it seems most fitting that it should be treated along with them. I have endeavoured also to touch upon the subject of "Appreciation of Assets," a matter of very considerable importance at the present time.
The latter part of the book deals with the same subject-matter from the municipal standpoint, an aspect little understood by commercial men and the younger municipal students.
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