The politics of accounting standard setting

1. Critically evaluate the current accounting standard-setting process and identify its strengths and weaknesses.
2. Synthesize and summarize conflicting points of view about a controversial topic.
3. Clearly communicate your thoughts and ideas in a clear and concise manner.

In a 2-3 page, double-spaced paper, summarize the views expressed by the authors in the assigned reading list. Explain your position about who should set accounting standards in the United States and provide a well-reasoned argument to support your view.