ABSTRACT
George Oliver May’s professional life and the development of the accounting profession closely paralleled one another. May arrived in the United States in 1897 and until the beginning of 1927, when he stepped down from his position as senior partner of Price Waterhouse, much of his efforts were devoted to his practice. The second period in his life, from 1927 until the early 1940’s, was the one in which he made his most significant contributions. The American Institute of Accountants was active during this period, and many committees were formed for the purpose of developing accounting principles and improving financial reporting practices. George O. May served on each of these committees and was active head of all of them for at least a part of his tenure. The Committee on Accounting Procedure was established largely as a result of the efforts of George O. May. May had a life-long interest in the determination and reporting of periodic business income.
