The Accounting Hall of Fame Inducts Two New Members for 2005: William T. Baxter and Edmund L. Jenkins
Columbus, OH - Two distinguished accountants were inducted into The Accounting Hall of Fame on Monday, August 9, 2004 at the American Accounting Association Annual Meeting in San Francisco, California. The 2005 inductees are William T. Baxter, professor emeritus at the London School of Economics, London, England, and Edmund L. Jenkins, former chair of the Financial Accounting Standards Board.
Honorees are selected by the Accounting Hall of Fame's international board of electors. Seventy-eight influential and respected accountants from academe, accounting practice, government and business have been elected to the Accounting Hall of Fame since its establishment in 1950 at Ohio State University's Fisher College of Business.
William T. Baxter
William T. Baxter is Professor Emeritus of the London School of Economics and one of Britain's most eminent academic accountants. Receiving his PhD from LSE in 1945, he has published extensively over a long career. His work includes many influential books and articles on such subjects as accounting and reporting under conditions of changing prices and the importance of opportunity cost in solving business problems. His books include Inflation Accounting (1984) , Studies in Accounting Theory (1962, edited with Sidney Davidson) , and The House of Hancock: Buiness in Boston, 1724-1775 (1945). His many honors and awards include an honorary degree from Edinburgh University of Law. Professor Baxter will be 100 years old in 2006 and was unable to attend the induction ceremony in San Francisco.
Edmund L. Jenkins
The career of Edmund L. Jenkins is distinguished by major contributions to the accounting profession and to financial reporting. As Chairman of the Financial Accounting Standards Board (FASB), he worked tirelessly to serve the investing public through the development of high-quality financial reporting standards. He provided outstanding leadership in many areas, including the FASB's technical agenda, constituent relations, liaison with the legislative and regulatory communities, international activities, and maintaining the FASB's independence. Prior to joining the FASB, he was employed by Arthur Andersen LLP for 38 years, most recently as Managing Partner of the Professional Standards Group of its worldwide practice. From 1991 to 1994, he served as Chairman of the Special Committee on Financial Reporting, constituted by the American Institute of CPAs (AICPA), that became known as the "Jenkins Committee." He also was a member of the FASB's Emerging Issues Task Force from 1984 to 1991. A native of Michigan, he holds a B.A. degree from Albion College and an M.B.A. from the University of Michigan.
ATTACHED PHOTO (members of Members of Accounting Hall of Fame in attendance at induction ceremony on August 8, 2005): Back Row (left to right): Stephen A. Zeff (Rice University), Gerald A. Feltham (University of British Columbia), Charles T. Horngren (Stanford University), William H. Beaver (Stanford University), James Don Edwards (University of Georgia), Dennis R. Beresford (University of Georgia); Front Row (left to right): James J. Leisenring (International Accounting Standards Board), Edmund L. Jenkins (Financial Accounting Standards Board, retired), Sidney Davidson (University of Chicago), and Joel S. Demski (University of Florida). William Baxter was unable to attend the induction ceremony.