The academic community's participation in standard setting: Submission of comment letters on SFAS Nos. 1-117

Paulette R. Tandy, Nancy L Wilburn

Research output: Contribution to journalArticle

40 Citations (Scopus)

Abstract

FASB Chairman Beresford (1991) and others (Wyatt 1990, 1991; Burton and Sack 1990) have called for increased participation by the academic community in the standard-setting process. Academicians can play a unique role in FASB deliberations since they are economically independent and they should have the theoretical understanding necessary to evaluate issues. This article describes the academic community's participation in the FASB's standard-setting process. Few academicians submitted comment letters on Discussion Memorandums and Exposure Drafts tor SFAS Nos. 1-117, with the majority participating only once. Results indicate that the frequency of responses and participants' characteristics changed somewhat over time. Survey responses indicate that participants submitted comment letters primarily when they were concerned about the topic or had conducted related research and felt that they could contribute to FASB deliberations. Conversely, participants and nonparticipants agree that participation is deterred by low expectations of affecting FASB decisions, lack of time or resources, inadequate rewards for this activity at their universities, and the technical nature of the issues. We discuss possibilities for overcoming the barriers to participation and recent efforts from both the FASB and academicians toward "bridging the gap."

Original languageEnglish (US)
Pages (from-to)92-111
Number of pages20
JournalAccounting Horizons
Volume10
Issue number3
StatePublished - Sep 1996

Fingerprint

Community participation
Participation
Deliberation
Draft
Resources
Chairmen
Reward

ASJC Scopus subject areas

  • Accounting

Cite this

The academic community's participation in standard setting : Submission of comment letters on SFAS Nos. 1-117. / Tandy, Paulette R.; Wilburn, Nancy L.

In: Accounting Horizons, Vol. 10, No. 3, 09.1996, p. 92-111.

Research output: Contribution to journalArticle

@article{4a97bdab1c504f16a355e9e0b868d2be,
title = "The academic community's participation in standard setting: Submission of comment letters on SFAS Nos. 1-117",
abstract = "FASB Chairman Beresford (1991) and others (Wyatt 1990, 1991; Burton and Sack 1990) have called for increased participation by the academic community in the standard-setting process. Academicians can play a unique role in FASB deliberations since they are economically independent and they should have the theoretical understanding necessary to evaluate issues. This article describes the academic community's participation in the FASB's standard-setting process. Few academicians submitted comment letters on Discussion Memorandums and Exposure Drafts tor SFAS Nos. 1-117, with the majority participating only once. Results indicate that the frequency of responses and participants' characteristics changed somewhat over time. Survey responses indicate that participants submitted comment letters primarily when they were concerned about the topic or had conducted related research and felt that they could contribute to FASB deliberations. Conversely, participants and nonparticipants agree that participation is deterred by low expectations of affecting FASB decisions, lack of time or resources, inadequate rewards for this activity at their universities, and the technical nature of the issues. We discuss possibilities for overcoming the barriers to participation and recent efforts from both the FASB and academicians toward {"}bridging the gap.{"}",
author = "Tandy, {Paulette R.} and Wilburn, {Nancy L}",
year = "1996",
month = "9",
language = "English (US)",
volume = "10",
pages = "92--111",
journal = "Accounting Horizons",
issn = "0888-7993",
publisher = "American Accounting Association",
number = "3",

}

TY - JOUR

T1 - The academic community's participation in standard setting

T2 - Submission of comment letters on SFAS Nos. 1-117

AU - Tandy, Paulette R.

AU - Wilburn, Nancy L

PY - 1996/9

Y1 - 1996/9

N2 - FASB Chairman Beresford (1991) and others (Wyatt 1990, 1991; Burton and Sack 1990) have called for increased participation by the academic community in the standard-setting process. Academicians can play a unique role in FASB deliberations since they are economically independent and they should have the theoretical understanding necessary to evaluate issues. This article describes the academic community's participation in the FASB's standard-setting process. Few academicians submitted comment letters on Discussion Memorandums and Exposure Drafts tor SFAS Nos. 1-117, with the majority participating only once. Results indicate that the frequency of responses and participants' characteristics changed somewhat over time. Survey responses indicate that participants submitted comment letters primarily when they were concerned about the topic or had conducted related research and felt that they could contribute to FASB deliberations. Conversely, participants and nonparticipants agree that participation is deterred by low expectations of affecting FASB decisions, lack of time or resources, inadequate rewards for this activity at their universities, and the technical nature of the issues. We discuss possibilities for overcoming the barriers to participation and recent efforts from both the FASB and academicians toward "bridging the gap."

AB - FASB Chairman Beresford (1991) and others (Wyatt 1990, 1991; Burton and Sack 1990) have called for increased participation by the academic community in the standard-setting process. Academicians can play a unique role in FASB deliberations since they are economically independent and they should have the theoretical understanding necessary to evaluate issues. This article describes the academic community's participation in the FASB's standard-setting process. Few academicians submitted comment letters on Discussion Memorandums and Exposure Drafts tor SFAS Nos. 1-117, with the majority participating only once. Results indicate that the frequency of responses and participants' characteristics changed somewhat over time. Survey responses indicate that participants submitted comment letters primarily when they were concerned about the topic or had conducted related research and felt that they could contribute to FASB deliberations. Conversely, participants and nonparticipants agree that participation is deterred by low expectations of affecting FASB decisions, lack of time or resources, inadequate rewards for this activity at their universities, and the technical nature of the issues. We discuss possibilities for overcoming the barriers to participation and recent efforts from both the FASB and academicians toward "bridging the gap."

UR - http://www.scopus.com/inward/record.url?scp=0002391204&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=0002391204&partnerID=8YFLogxK

M3 - Article

AN - SCOPUS:0002391204

VL - 10

SP - 92

EP - 111

JO - Accounting Horizons

JF - Accounting Horizons

SN - 0888-7993

IS - 3

ER -