Engaging Students in the Standard Setting Process

49 Pages Posted: 24 Feb 2023

See all articles by Christine Botosan

Christine Botosan

Financial Accounting Standards Board

Mary Hill

Kennesaw State University

Gary K. Taylor

University of Alabama - Culverhouse College of Commerce & Business Administration

Date Written: February 19, 2023

Abstract

Being a continuous learner often is viewed as a key attribute of successful accounting professionals. This paper describes a project that engages master level financial accounting students directly in the standard-setting process by having students research, write and submit a class comment letter on a current Exposure Draft to the Financial Accounting Standards Board (FASB). This project integrates multiple competencies through experiential learning. The project is designed to provide students with first-hand experience engaging in the standard setting process, introduce students to some of the challenges with staying abreast of current developments, and help students develop tools and skills they can use throughout their careers to learn about emerging accounting issues and critically analyze alternative solutions.

Keywords: standard setting, comment letters, societal impact, continuous learning

JEL Classification: M41

Suggested Citation

Botosan, Christine and Hill, Mary and Taylor, Gary Kenneth, Engaging Students in the Standard Setting Process (February 19, 2023). Available at SSRN: https://ssrn.com/abstract=4363680 or http://dx.doi.org/10.2139/ssrn.4363680

Christine Botosan

Financial Accounting Standards Board ( email )

401 Merritt 7
PO Box 5116
Norwalk, CT 06856
United States

Mary Hill (Contact Author)

Kennesaw State University ( email )

1000 Chastain Rd
Kennesaw, GA 30144
United States

Gary Kenneth Taylor

University of Alabama - Culverhouse College of Commerce & Business Administration ( email )

Box 870223
Dept. of Accounting
Tuscaloosa, AL 35487-0223
United States

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