Donald E. Kieso, Ph.D., C.P.A received his bachelor's degree from Aurora University and his doctorate in accounting from the University of Illinois. He has served as chairman of the Department of Accountancy and is currently the KPMG Peat Marwick Emeritus Professor of Accountancy at Northern Illinois University. He has public accounting experience with Price Waterhouse & Co. (San Francisco and Chicago) and Arthur Andersen & Co. (Chicago) and research experience with the Research Division of the American Institute of Certified Public Accountants (New York). He has done postdoctorate work as a Visiting Scholar at the University of California at Berkeley and is a recipient of NIU's Teaching Excellence Award and four Golden Apple Teaching Awards. Professor Kieso is the author of other accounting and business books and is a member of the American Accounting Association, the American Institute of Certified Public Accountants, and the Illinois CPA Society. He has served as a member of the Board of Directors of Castle BancGroup Inc., and as Treasurer and Director of Valley West Community Hospital. From 1989 to 1993 he served as a charter member of the national Accounting Education Change Commission. In 1988 he received the Outstanding Educator Award from the Illinois CPA society, in 1992 he received the FSA's Joseph A. Silvoso Award of Merit and the NIU Foundation's Humanitarian Award for Service to Higher Education, and in 1995 he received a Distinguished Service Award from the Illinois CPA Society.

Jerry J. Weygandt, Ph.D., C.P.A., is Arthur Andersen Alumni Professor of Accounting at the University of Wisconsin-Madison. He holds a Ph.D. in accounting from the University of Illinois. Articles by Professor Weygandt have appeared in the Accounting Review, Journal of Accounting Research, Accounting Horizons, Journal of Accountancy, and other academic and professional journals. These articles have examined such financial reporting issues as accounting for price-level adjustments, pensions, convertible securities, stock option contracts, and interim reports. Professor Weygandt is author of other accounting and financial reporting books and is a member of the American Accounting Association, the American Institute of Certified Public Accountants, and the Wisconsin Society of Certified Public Accountants. He has served on numerous committees of the American Accounting Association and as a member of the editorial board of the Accounting Review; he also has served at President and Secretary-Treasurer of the American Accounting Association. In addition, he has been actively involved with the American Institute of Certified Public Accountants and has been a member of the Accounting Standards Executive Committee (AcSEC) of that organization. He has served on the FASB task force that examined the reporting issues related to accounting for income taxes an is presently a trustee of the Financial Accounting Foundation. Professor Weygandt has received the Chancellor's Award for Excellence in Teaching and the Beta Gamma Sigma Dean's Teaching Award. He is on the board of directors of M & I Bank of Southern Wisconsin and the Dean Foundation. Recently he received the Wisconsin Institute of CPA's Outstanding Educator's Award and the Lifetime Achievement Award.

Terry D. Warfield, Ph.D., is an associate professor of accounting at the University of Wisconsin, Madison. He received a B.S. and M.B.A. from Indiana university and a Ph.D. in accounting from the University of Iowa. His area of expertise is financial reporting, and prior to his academic career, he worked for five years in the banking industry. he served as the Academic Accounting Fellow in the Officed of the Chief Accountant at the U.S. Securities and Exchange Commission in Eashington, D.C., from 1995 - 1996. His primary research interests concern fianancial accounting standards and disclosure policies. He has published scholarly articles in The Accounting Review, Journal of Accounting and Economics, Research in Accouting Regulation, and Accounting Horizons, and has served on the editorial boards of The Accounting Review and Accounting Horizons. He has also served on the Financial Accounting Standards Committee of the American Accounting Association and on the Association Council, the Nominations Committee, and the AAA-FASB Research Conference Committee. He has received numerous teaching awards and was named to the Teaching Academy at the University of Wisconsin in 1995.