ERIC Number: ED422471
Record Type: RIE
Publication Date: 1998-Jul
Reference Count: N/A
The Standards-Setting Process in Accounting: Lessons for Education and Workplace Reform.
Merritt, Donna; Bailey, Thomas R.
This report presents the experiences and outcomes of accounting standards-setters who have, in many cases, been successful in establishing a national, uniform system of certification for public accountants. An executive summary appears first. The report begins with two sections that examine the evolution of accounting into a 20th-century profession. Two key aspects of accounting are highlighted: (1) the responsibilities intrinsic to the practice of accounting are ambiguous and require a unique combination of technical, academic, and employable skills that allow accountants to report facts objectively with a certain amount of subjective wisdom and guidance; and (2) the new responsibilities placed upon accountants due to changing technology and workplace dynamics have put pressure on the profession to specialize its services and create the accompanying education and certification. This preliminary discussion of accounting practice is followed by a more detailed investigation of accounting skill standards and how those standards are developed, taught, and assessed. The report presents accounting standards in terms of their technical, academic, and real-world characteristics. In its discussion of technical standards, the report focuses on the standards-setting process, the Certified Public Accountant exam, ethical standards, and continuing education. A discussion of academic and real-world skills highlights key issues surrounding accounting education and experience requirements. (Contains 85 references.) (YLB)
Descriptors: Accounting, Business Administration Education, Educational Certificates, Higher Education, Job Skills, Professional Development, Standard Setting, Standards, Student Certification
National Center for Research in Vocational Education, Materials Distribution Service, Western Illinois University, 46 Horrabin Hall, Macomb, IL 61455; toll-free phone: 800-637-7652 ($8.50).
Publication Type: Reports - Descriptive
Education Level: N/A
Audience: Policymakers; Practitioners
Sponsor: Office of Vocational and Adult Education (ED), Washington, DC.
Authoring Institution: National Center for Research in Vocational Education, Berkeley, CA.