Abstract The article presents author's comment on his paper "The "Balancing Act" in Setting Accounting Standards" that was published in the March 1988 issue of the journal "Accounting Horizons." The "balancing act" terminology was used to describe how one strives to make sure they are working on the right issues. The first point was the need to make sure that they are working on the right issues. He continues to believe that agenda setting is the single most important decision that they make at the Financial Accounting Standards Board. Before the Board votes on whether to add a project, the staff has usually spent at least several months developing materials to help them decide if there is enough reason to take on the new challenge. Recognizing the importance of agenda decisions, various procedures have been enhanced to evaluate potential projects. A long list of potential projects based on various requests has been made. The list is being circulated to a number of interested parties and asked for their input.
Dennis R. Beresford (Wed,) studied this question.