Trueblood Committee

Trueblood Committee

Formed by the AICPA in 1972 and developed the Objective of Financial Statements. It was named for its chairman Robert M. Trueblood.

It stated that
*basic objective of financial statements is to provide information useful for making economic decisions
*accountability is a broad term that encompasses stewardship
*management (of a business) is accountable for progress toward the principal goal of a commercial enterprise

External links

* [http://www.seagov.org/aboutpmg/history.shtml Discussion of the Trueblood and Wheat Committees]
* [http://www.nysscpa.org/cpajournal/2005/1205/infocus/p16.htm Article from the CPA Journal about the history and future of accounting]
* [http://newman.baruch.cuny.edu/digital/saxe/saxe_1973/hawkins_73.htm Summary of lecture at Harvard discussing further implementation of Trueblood Committee's Recommendations ]


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