Encouraging not-for-profit accounting research that informs standard setting: a FASB-ulous opportunity

Jeffrey D. Mechanick and Tammy R. Waymire

Chapter 14 in Research Handbook on Nonprofit Accounting, 2023, pp 248-267 from Edward Elgar Publishing

Abstract: Setting financial reporting standards is a complex process that depends critically on the input of stakeholders. One important voice in the process is that of the academic community, where academics often have the unique ability to contribute empirical evidence and to be the only stakeholder without incentives for a particular outcome. Within the not-for-profit setting, we consider the role of academic research in setting major standards over the FASB’s history, where the research directly related to standard setting has been limited. We provide a discussion of FASB’s standard-setting process, explore the academic research which has focused on topics of interest to standard setters regarding not-for-profit financial reporting, identify the factors for researchers interested in these topics to consider, and conclude with suggestions for research with the potential for impact on future standards. The chapter is meant to inspire and encourage bridges between the academic and standard-setting communities.

Keywords: Business and Management; Economics and Finance; Research Methods (search for similar items in EconPapers)
Date: 2023
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