George Oliver May
Role: Pioneer of American accounting, inaugural inductee (1950).
Key Contributions:
Founded the American Association of Accountants (predecessor to AAA) in 1910;
Championed the concept that "accounting is the language of business," elevating accounting from bookkeeping to strategic decision-making;
Published Principles of Accounting (1920), a foundational textbook for accounting education.
Legacy:
Known as the "Father of American Accounting Education";
His philosophy underpinned the professionalization and standardization of accounting globally.
3. Robert Hiester Montgomery
Role: Accounting educator, inaugural inductee (1950).
Key Contributions:
Proposed the principle that "accounting information must reflect economic reality" (1917);
Established the American Accounting Education Committee (1920), standardizing accounting curricula;
Authored Introduction to Accounting (1925), a classic textbook adopted worldwide.
Legacy:
Celebrated as the "Architect of Modern Accounting Education";
His principles influenced the development of International Accounting Standards (IAS).
