The setting of accounting standards in the United States: A historical perspective

Abstract

Students need to learn in an environment that asks them to question, rather than simply accepting what is given. This perspective is essential for them if they are going to participate fully in a self-regulated profession. Self-regulation requires that we continuously improve our profession and seek acceptability for the standards we set. Students need to embrace this environment by understanding the pros and cons of competing positions, and the importance of these positions to various stakeholders. We believe that students' ability to critically evaluate accounting theory can be improved if they are exposed to various stakeholders' positions from a historical perspective. In light of this, the purpose of this paper is to present the instructor and/or student with materials that supplement those generally found in Intermediate Accounting texts. Tables are included which provide specific discussion questions for the articles as well as general discussion questions. Based on this paper, an instructor could select, from the articles and questions included, a set of readings which would enhance their students' overall understanding of the development of accounting standard setting.