William Andrew Paton
Role: American accounting scholar, co-founder of modern accounting theory, and one of the first inductees into the Accounting Hall of Fame.
Key Contributions:
Founded Accounting Review in 1926 and served as its first editor;
Co-founded the American Accounting Association (AAA) and became its youngest president at age 32 (1922);
Authored Accounting Theory (1922) and Introduction to Corporate Accounting Standards (1940, co-authored with A.C. Littleton), widely adopted globally;
Led 33 accounting research bulletins (1939–1950), shaping U.S. accounting standards.
Legacy:
First inductee into the Accounting Hall of Fame (1950);
His theoretical framework established the foundation for modern accounting education and practice worldwide.
