The Accounting Principles Board

Objectives

1. Demonstrate that you have read the report of the Jennings Committee.
2. Demonstrate that you understand the key points of the report.
3. Clearly communicate your thoughts and ideas in a clear and concise manner.
4. Practice your written communication skills including the ability to write persuasively in a document that is free of spelling and grammatical errors.

Assignments

The Jennings Committee, formally known as the Special Committee on Research Program was established in 1957 to evaluate accounting standard setting and to make recommendations for changing the process. Summarize the key recommendations of the Jennings Committee and form an opinion about the appropriateness of their recommendations. Support your opinion with a well reasoned argument. Your submission should be a 2-3 page paper, double-spaced.