The article focuses on accounting research. The first of four stated purposes of the American Accounting Association is to promote research in accounting. Although much has been done to further this objective, a great deal more must be done if the Association is to be counted among the leading contributors to effective research. Currently, research is being carried on under the auspices of the Association by economist Ralph C. Jones and his associates, who are working on the Price Level Project. Research by the Committee on Concepts and Standards in its continuing search for effective statements of concepts and standards in the area of financial accounting. Another is the research by the Committee on Cost Accounting Concepts and Standards and by the several task committees on education. The tremendous research potential represented by the thousands of college and university teachers and graduate students of accounting needs to be tapped if the research program is to be enlarged to keep up with the growing needs for the application of the scientific method to the problems facing accountancy.

This article focuses on the policies and procedures of American Accounting Association Committees. To a considerable extent, these regulations represent the rules under which the present and previous Executive Committees have operated. They are not intended to bind future Executive Committees, since each succeeding Executive Committee has the right to determine the rules under which it, the officers, and Association committees will operate, within the by-laws. The President may be given the authority to create new education task committees with the advice of the Joint Committee on Education. It is recommended that the chairmen of the underlying task committees be ex-officio members of the Joint Committee on Education. With the exception of the Director of Research, a person should be limited to membership on one committee, in addition to membership on the Joint Committee on Education, the Membership Committee, the Nominations Committee, and the Executive Committee. Only members of the American Accounting Association should be appointed, committees may have non-member consultants, however, if the Executive Committee approves the idea and the consultant.

The article presents a report of the Committee on Educational Standards. The purpose of accounting education is to prepare students for careers in accounting and in related fields and to prepare them to deal effectively with problems they will face as practicing members of their profession and as responsible citizens of the social and economic community in which they live. In recent years, the pattern of collegiate education for business in the U.S. has received considerable attention. The resulting re-examination of objectives, evaluations of course content, and revisions of curricula have had a major impact on accounting education as an element in the business school program. As the accounting function in modern society grows, the role of the accountant inevitably becomes larger and more important. The demand for well-educated accountants is currently high and promises to remain strong in the foreseeable future. The purpose of this study is to formulate some guidelines pointing to the educational standards that should prevail in any institution of higher education that offers degree programs involving a major in accounting, to the end that one or more degrees in accounting will indicate a standard of educational background and qualification for a professional field.