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Financial Accounting and Reporting SectionBY-LAWS |
Contents:
I. Name of Organization
II. Status of the Organization
III. Purpose and Objectives
IV. Membership
V. Officers and Duties
VI. Compensation
VII. Meetings
VIII. Publications
IX. Amendments
The name of this organization shall be the Financial Accounting and Reporting Section of the American Accounting Association.
This organization has the status of a Section within the American Accounting Association (AAA), a nonprofit association incorporated under the laws of the state of Illinois. These by-laws are to explain that status within this relationship. Any conflict between these by-laws and any rules or regulations of the AAA shall be resolved in favor of the parent organization.
The purpose of the Financial Accounting and Reporting Section is to give greater attention to the area of financial accounting and reporting. To fulfill this purpose, the Section has established objectives in three areas:
1. Education - to discuss, test, and disseminate
various ways of teaching financial accounting
and reporting, and related topics:
A. to foster the development and study
of teaching methods and aids and to
give publicity thereto;
B. to review and evaluate teaching
materials submitted for such
purposes; and
C. to strive, in general, to improve the
effectiveness and efficiency of
instruction in this area.
2. Research - to encourage, facilitate, and
publicize research interests and projects in
the financial accounting and reporting area:
A. to communicate interests, intentions,
and actual work-in-process in the
area and, if possible, assist in
obtaining seed money;
B. to identify areas in need of research;
and
C. to give opportunity for public
exposure of research results through
AAA meetings (annual, regional,
and special meetings devoted solely
to financial accounting and
reporting) and publications
(including working papers and a
separate journal for financial
accounting and reporting, if
warranted).
3. Profession - to create an opportunity for
closer association between the practicing
profession and instructors of financial
accounting and reporting subjects.
A. to provide a medium through which
each can become better acquainted
with the others' problems and
successes;
B. to create, in general, a better
climate for interchange between the
two groups; and
C. to offer a formal medium through
which greater cooperation may be
achieved.
1. Any member or associate member in good
standing of the AAA supporting the purposes
and objectives of this Section will be enrolled
as a regular member or as an associate
member, respectively, upon payment of
annual dues to the Administrative Office of
the AAA, or other representative of the
Section authorized.
2. All members are eligible to vote, hold office,
participate in all activities of the Section and
be entitled to all its other privileges.
Associate members are eligible to participate
in all activities of the Section and be entitled
to all its other privileges except those of
voting and holding offices.
3. The amount and type of annual dues and the
payment schedule will be proposed by the
Section Executive Committee subject to
approval of the membership present at the
annual business meeting of the Section.
Associate members' dues will be set by the
AAA Executive Committee.
4. The Executive Committee of the Financial
Accounting Reporting Section shall have the
discretionary power to raise the annual dues
of the Section to a maximum of $30.
5. The Section may charge fees to participating
individuals for publications, special activities,
and meetings, except for regular sessions at
national and regional AAA meetings. These
fees will be set by the AAA Executive
Committee.
6. The Section shall be authorized to accept
gifts and grants.
1. The duties and terms of office shall be those
specified for officers of sections by the AAA.
These are as follows:
A. President - The President shall serve
a one year term. The duties of the
President shall be:
1) to direct the affairs of the
Section and carry out the
programs formulated by
the Section members at the
annual meeting with the
advice of the Executive
Committee.
2) to preside at the annual and
other meetings of the
Section.
3) to preside over meetings of
the Executive Committee.
4) to cooperate with the AAA
President relative to
sectional activities at the
AAA annual meeting.
5) to charge and appoint
committees and taskforces,
when necessary.
6) to report periodically to the AAA
Executive Committee regarding
section activities.
7) to serve on Council.
B. President-Elect - The President-Elect
shall be elected for a one year
term and upon completion of this
term shall automatically become
President. The duties of the
President-Elect shall be:
1) to direct the affairs of the
Section in the event the
President is unable to
serve.
2) to preside at Section
meetings if the President is
unable to preside.
3) to appoint Regional
Directors and Regional
Directors-Elect.
4) to work with the Section
Regional Directors and the
AAA Regional Vice-Presidents to encourage
Section involvement at
regional meetings of the
AAA.
5) to perform other duties
assigned by the President.
C. Vice-President (to be elected from
the practicing profession) - The
Vice-President shall be elected for a
two-year term and shall not be
eligible for immediate re-election.
The duties of the Vice-President
shall be:
1) to direct the affairs of the
Section in the event that
the President and
President-Elect are unable
to serve.
2) to preside at Section
meetings if the President
and President-Elect are
unable to preside.
3) to facilitate relationships
with the accounting
practice community.
4) to perform other duties
assigned by the President.
D. Secretary-Treasurer - The
Secretary-Treasurer shall be elected
for a two-year term and shall not be
eligible for immediate re-election.
The duties of the Secretary-Treasurer shall be:
1) to supervise the keeping of
records of section
meetings, activities, and
procedures.
2) to work with the AAA
Administrative Office
relative to collection and
disbursement of Section
funds.
3) to work with the AAA
Administrative Office
regarding all facets of
Section membership.
4) to prepare an annual report
of the financial status of
the Section.
E. Immediate Past-President - The
Immediate Past-President will serve
for one year immediately following
his or her term as President. The
duties of the Immediate Past-President shall be:
1) to advise the President,
particularly with regard to
past activities of the
Section.
2) to perform duties assigned
by the President.
F. Editor - An Editor shall be
appointed by the President when the
position becomes open. The duties
of the Editor shall be:
1) to provide assistance and
guidance for the
dissemination of
information to members,
such as through newsletters
and bulletins.
G. Regional Director - A Regional
Director for each region recognized
by the AAA shall be appointed by
the President-Elect to serve a one-year term.
The duties of Regional
Directors shall be:
1) to work, under the
direction of the President-Elect, with AAA Regional
Vice-Presidents to
encourage Section
involvement at regional
meetings of the AAA.
2) To coordinate other
regional activities of the
Section under the direction
of the President-Elect.
H. Regional Director-Elect - A
Regional Director-Elect for each
region recognized by the AAA shall
be appointed by the President-Elect
to serve a one-year term and upon
completion of this term shall
automatically become Regional
Director. The duties of Regional
Directors-Elect shall be:
1) to support the Regional
Director in carrying out his
or her duties.
I. Second Representative on Council -
A second Representative on Council
shall be selected (when appropriate)
by the Nominating Committee to
serve a one-year term.
J. The Steering Board
The purpose of the Steering Board is to enhance organizational
continuity by overseeing the implementation of all FARS-sponsored
activities on an ongoing basis.
1. Membership of the Steering Board
Members of the Steering Board include the current Executive
Committee (President, President-Elect, Past-President,
Vice-President, Secretary-Treasurer, and Editor) and eight
additional At-Large members. Each at-large member serves a
two-year term and may be reappointed for a second consecutive term.
All FARS members are eligible to serve as at-large Steering Board members.
Other than the maximum four-year continuous service limit noted above,
at-large members may include those with prior service in this role.
At-large board members' terms are to be staggered so that, at most,
four at-large members rotate off the board in any year.
2. Selection Process for Board Members
The President-elect shall appoint up to four FARS members to serve
on the Steering Board as at-large board members.* It is expected
that the President-elect will obtain input from the FARS membership
and existing Officers and Steering Board members in formulating
the appointments. At the end of the two-year service period
(or earlier if vacancies exist), the then current President-elect
shall appoint at most four new members (unless additional appointments
are necessitated by vacancies).
3. Semi-Annual Steering Board Meetings
The Steering Board shall meet each year at the AAA Annual Meeting.
A second optional spring meeting (as deemed necessary by the President)
may take place to ensure adequate planning time prior to the section
business meeting in August at the AAA Annual Meeting.
4. Standing Committees
The Steering Board will work with the President to appoint a set of
standing committees to oversee section activities. The purpose of
these committees is to obtain broader participation in FARS
decision-making processes. Although the specific committees are to
be determined at the discretion of the Steering Board and President,
the following are illustrative of possible standing committees:
Annual Meeting Committee: Responsible for organizing FARS
concurrent and CPE sessions at annual meeting and working
with current President in planning luncheon and obtaining a speaker.
Awards Committee: Responsible for selecting winners of Best Paper
and Best Dissertation Awards.
Communications & Publications Committee: Responsible for FARS Web
page and Newsletter.
Regional Meetings Committee: Responsible for coordinating section
involvement in AAA Regional meetings. This committee could consist
of FARS Regional Directors.
*In the first year of Steering Board formation the current President
will appoint four additional members to bring the total number of
at-large members to eight.
2. The President, President-Elect, Immediate
Past-President, Vice-President, Secretary-Treasurer
and Editor shall constitute the
Executive Committee. They shall be
responsible for recommending plans,
policies, rules, and procedures as needed to
achieve the purposes and objectives of the
Section to the membership at the annual
meeting and for carrying out those plans,
policies, rules, and procedures approved by
the membership. The President and two
other officers shall constitute a quorum.
3. The Immediate Past-President and two
Regional Directors shall constitute the
Nominating Committee. The current year's
Nominating Committee shall appoint two
Regional Directors to serve on the following
year's Nominating Committee. The
Nominating Committee shall be chaired by
the Immediate Past-President. After
soliciting input from the membership, the
Nominating Committee shall present
nominations (for the offices coming vacant)
for President-Elect, Vice-President, and
Secretary-Treasurer to the Secretary-Treasurer
at least sixty days prior to the
annual meeting. All nominees must be
members in good standing of the Section at
that time and indicate a willingness to serve.
Nominations may also be made from the
floor in accordance with Robert's Rules of
Order (Newly Revised). The Nominating
Committee may not nominate a member from
itself. However, Nominating Committee
members are eligible for nomination from the
floor at the annual business meeting. The
Nominating Committee also shall select
(when appropriate) the Section's second
Representative on Council.
4. Election of officers will be held at the annual
business meeting. The results of the election
shall be certified and announced by the
Secretary-Treasurer. Newly elected officers
shall assume office at the conclusion of the
annual meeting. Regional Directors and
Regional Directors-Elect shall also assume
office at the conclusion of the annual
meeting.
5. In the event that the President is unable to
serve, the President-Elect shall assume the
duties of the President for the remaining
term. In the event either the President-Elect,
the Vice-President or the Secretary-Treasurer
is unable to serve, the Executive Committee
shall name a member to serve the remaining
term.
6. Section officers are authorized to initiate and
carry out the duties of their offices.
7. Disbursements may be authorized by the
President or the Secretary-Treasurer. Those
in excess of $500 must be approved by the
President unless otherwise authorized.
8. Each year, each officer shall render a report
to the membership in an appropriate fashion.
No officer shall receive honoraria, professional fees, stipends, or other compensation for the performance of Section duties. However, officers may be reimbursed from Section funds for expenses incurred in connection with the performance of their duties in accordance with standard AAA expense reimbursement policies.
The Section shall hold an annual meeting. This meeting and any other meetings shall be held at such time and place as determined by the Executive Committee. Written notice of the time, place, and agenda of a meeting shall be provided to the membership at least thirty days prior to the meeting. A quorum at such duly called meetings shall consist of those members present. All matters presented at a meeting shall be decided by majority vote.
The Section shall publish newsletters, proceedings, working papers, monographs, journals, teaching aids, and other materials as approved by the AAA Executive Committee and in accordance with the policies of the AAA.
Amendments to these By-Laws may be proposed by the Executive Committee or by petition of not less than 20 members of the Section. Amendments shall be submitted at least thirty days prior to the annual meeting and presented to the membership at the next annual business meeting or, at the discretion of the Executive Committee, by mail ballot. Amendments shall be adopted if approved by two-thirds of the membership voting at the annual meeting or by two-thirds of those returning a mail ballot.
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