2003-2004 AAA COMMITTEES

FINANCIAL ACCOUNTING STANDARDS COMMITTEE

Charge:

Coordinate all Association activities with respect to financial accounting standard setting. Specifically:

1. Evaluate selected discussion memoranda and exposure drafts related to financial accounting and reporting in the private sector as they are released by the FASB, and IASB, and other accounting standard-setting groups, and respond to those groups in writing and by appearing at selected public hearings.
2. Stay cognizant of emerging issues related to financial accounting and reporting in the private sector through materials issued by the Emerging Issues Task Force and other relevant sources, and evaluate, where appropriate, the significance and potential implications of such issues.
3. Meet with the FASB, normally on an annual basis.
4. Recognize emerging international issues related to financial accounting, reporting and auditing; alert others inside the Association about their importance to determine the likely significance and potential implications of such issues.
5. Explore the publication of selected responses by the committee in Accounting Horizons or other appropriate outlets.
6. Consider and promote ways to increase the quantity and quality of academic input to the standard-setting process.
7. Provide a progress report to the Executive Committee liaison in time to be included in the agenda book for each Executive Committee meeting.

Chair:

Eric Hirst
University of Texas at Austin
Department of Accounting
McCombs School of Business
Austin, TX 78712-1172
Phone: (512) 471-5565
Fax: (512) 471-3904
Email: eric.hirst@bus.utexas.edu

Members

EC Liaison

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