The work described above with the Turkish accountants represents only one phase of the technical assistance rendered by the American advisers. The American advisers are also teaching in Turkish educational institutions. In these institutions their responsibilities include the development of new accounting courses and the preparation of better teaching materials. These functions are extremely important, but the most rewarding work has come from working with the Turkish accountants who now have the means in their hand to organize and advance the profession of accounting. During the trying periods of this work the American advisers had the constant encouragement of the Heads of the NYU Group in Ankara, namely, Dr. Henry Stanford, now President, Birmingham-Southern College; Professor Lorentz Adolfson, Director of Extension Division, University of Wisconsin; and Donald MacDonald, formerly Chief of Public Services, International Cooperation Administration, Ankara. If anything has been accomplished in Turkey it is due to the assistance of these men and their understanding of the many problems.

The present Standards Rating Committee of American Accounting Association was appointed in 1949 for a period of five years upon the authorization of the Executive Committee of the Association Committee. The present committee was officially constituted and began functioning on January 1, 1949. Meetings of the committee have been held at intervals throughout the last five years. After extended discussion and rewriting over a period of two years this committee published an interim report in the January 1951, issue of Accounting Review. Full publicity was given to this interim report; suggestions, comments, and criticisms were solicited. Several members of the Association and other interested persons responded to the invitation. This committee appreciates the excellent suggestions made by correspondents. Their recommendations have been reviewed carefully along with the further thinking of the committee members themselves. After further weighing for about a year the problems confronting the committee, it was decided in early 1953 to prepare a final report in order to bring its current activities to a conclusion. Following this decision the committee has quite actively pursued its objectives and the present report represents the culmination of its efforts for the past five years.