Accountants in the Economic Maelstrom: The First World War and the Inter-war Years

Abstract

The chapter discusses the effect of the wars on the situation of accountants. During the inter-war years, the British economy was unstable. Old traditional industries such as coal mining and the production of cotton textiles continued to decline while ‘new industries’ such as motor manufacturing benefitted from the war. Changes among professional accountants were witnessed during the wars, particularly the First World War. Some accountants were asked to work for the government departments to help in management. Some big accounting firms were asked by the government to help, advise, and resolve difficult problems. The broadening role of professional accountants was noticed and recognized by the society. Also, there were professional accountants who moved from public practice to industries. Some held higher and more prominent positions after the wars.