  I discuss the progress in our theoretical understanding of the eta-gamma and
eta'-gamma transition form factors, including the recent data from CLEO and L3
at large momentum transfer, Q^2. The experimental data above Q^2=1 GeV^2 can be
well described by the hard scattering approach if the distribution amplitudes
for eta and eta' mesons are taken close to the asymptotic one. Particular
attention is paid to the interpretation of the data in terms of properly
defined eta-eta' mixing parameters. I also comment on the use and misuse of
interpolation formulas for P-gamma and P-gamma^* transition form factors.
