Presents news briefs related to accounting education as of October 1971. Retirement of E. Bryan Smyth from the University of New South Wales; List of accounting professors who joined the University of Florida; Appointment of Ralph J. Winston as a University Professor of Accounting at the Governors State University in Illinois.

The article presents information related to the department of accounting in various universities in the U.S. In the University of Arizona, Jim G. Ashburne of the University of Texas at Austin is a visiting professor for the Spring Semester 1971. Edwin A. Bump, who completed doctoral work at the University of Missouri, joined the faculty as an assistant professor in September 1970. Taylor W. Foster, who is completing doctoral work at Pennsylvania State University, will join the faculty as an Assistant Professor in September 1971. At the California State College at Fullerton, new faculty for the academic year 1970-71 include Robert W. Vanasse, professor of accounting, previously on the faculty of Ohio State University; Donald J. Barnett and John F. Williams, assistant professors. Robert A. Meier, Chairman, represented the Department at the Faculty Seminar in Palo Alto sponsored by the California Certified Public Accountants Foundation for Education & Research in August 1970. At the DePaul University, Helene Ramanauskas has taken a leave of absence to study quantitative methods at the University of Georgia.

The article focuses on a report of the Committee on Establishment of an Accounting Commission. The charge to this committee, as formulated by the American Accounting Association Executive Committee at its August 1970 meeting, is to consider the feasibility and desirability of establishing a Commission to study and recommend an organizational structure for advancing the formulation and modification of generally accepted accounting principles and the issuance of authoritative pronouncements concerning the application of such principles. If the committee recommends that such a Commission should be formed, the committee also should recommend the objectives, method of selecting members, and means of financing the work of the Commission. At the present time, accounting principles are formulated largely by the Accounting Principles Board. Inevitably, therefore, any dissatisfaction with methods of formulating principles is tantamount to dissatisfaction with the Board. High on its agenda for 1971 are other problems which currently obscure the effective disclosure of financial performance, such as the treatment of inter-corporate investments, financial reporting by diversified companies and others.