Abstract This article discusses the matching concept in accounting as defined by the 1964 Concepts and Standards Research Study Committee of the American Accounting Association. The committee first considered whether the matching convention is still a useful concept to guide financial reporting practices. Since the fundamental long-term objective of a business entity is to earn a profit, this financial data, to be most meaningful, should include information about profit determinants, including costs and revenues. Only by including these data can the reasons for and the extent of progress of the entity toward its primary objective be disclosed. Following this thought a bit further, one's judgment regarding the effectiveness of a specific effort is improved if it can be related to its contribution toward the recognized objective of the entity. In business operations, costs, defined as resources given up or economic sacrifices made are incurred with the anticipation that they will produce revenue in excess of the outlay. Within this frame of reference, one can then say that costs constitute one measure of business effort, and revenues represent accomplishments coming from those efforts.

Abstract This article explores the business entity concept of the 1964 Concepts and Standards Research Committee of the American Accounting Association and its significance to accounting. The committee's study of the business entity concept has caused it to depart significantly from the concise statement of the concept contained in the 1957 Revision. The committee believes that in referring to concepts underlying the conventions of accounting the use of the term business is inappropriately restrictive. The committee suggests that, in accounting, the term entity concept be used. In accounting the entity with which one is concerned may be defined as an area of economic interest to a particular individual or group. The boundaries of such an economic entity are identifiable by determining the interested individual or group, and by determining the nature of that individual's or that group's interest. An economic entity encompasses the activities, events, and utilization of resources that affect the interest of the individual or group. Simply stated, the committee advocates a user-oriented approach in defining an entity. That is, accounting reports about entities are developed to meet the needs of particular individuals or groups.

Abstract The article reports on recommendations made by the 1964 American Accounting Association Committee on Teacher Development regarding methods and approaches for development of individuals with no teaching experience who aspire to be career accounting instructors. A good teacher should restrict subject matter to be presented in a course to the level of the students' comprehension. At the same time he should stress the relationship of accounting to other fields of business and economics. Accounting teachers must be able to explain accounting. The explanation must be clear, to the point, and adequate. Teachers can identify significant concepts that should be understood and remembered, so that student learning efforts can be channeled to subject-matter areas of major importance. The committee was charged to be primarily concerned with three groups of teachers--doctoral candidates, beginning part-time teachers, and newly-employed staff members with no prior experience in teaching. Doctoral candidates who expect to become teachers should have some carefully supervised teaching experience when pursuing graduate studies.