THE END OF WORLD WAR II- WHAT HAPPENED WHEN THE MEN CAME HOME: THE SOCIETAL IMPLICATIONS FOR THE ACCOUNTING PROFESSION

The purpose of this paper is to discuss the societal implications for the accounting profession of the end of World War II. The accounting profession, like the rest of the business world, found itself floundering for personnel in the absence of the millions who served in the military during the war years. In the spirit of “Rosie the Riveter ” the accounting profession often turned to women to fill the void. This would have consequences beyond the immediate needs necessitated by the exigencies of war. Even with the returning veterans, the booming economy of the post war years significantly increased the demand for employees and the pool of returning veterans trained in the practice of accounting was not sufficient to meet the immediate needs of the accounting profession, much less the burgeoning economy. Thus, the accounting profession would be in an excellent position to benefit from the following act. For a number of reasons, in part related to the demands of the marketplace, the U. S. government attempted an extraordinary social experiment by introducing the Servicemen’s Readjustment Act of 1944 (commonly known as the Montgomery G.I. Bill). The bill afforded returning veterans the opportunity to pursue higher education with the assistance of Uncle Sam and would give all facets of American society, including the accounting profession, the advantage of additional access to an educated population. It is important to note that the effects of the G. I. Bill extended far beyond the immediate needs of the returning veterans and impacted the education available to all, and consequently the pool of talent available to the marketplace