The Future of
Undergraduate
Accounting Programs
and Curricula
B Y R O B E R T A . S I N G E R , P H . D . , C PA ,
IF
AND
TRACI WIESNER
MANAGEMENT ACCOUNTANTS AND OTHER FINANCIAL PROFESSIONALS ARE TO
CONTINUE TO SERVE THEIR EMPLOYERS IN THE BEST WAY POSSIBLE, HOW
THEY ARE TAUGHT AT THE UNIVERSITY LEVEL IS GOING TO HAVE TO CHANGE. THIS MEANS
NOTHING LESS THAN AN OVERHAUL OF THE ACCOUNTING EDUCATIONAL SYSTEM.
WHILE
DRASTIC REVISIONS WILL NOT BE EASY TO IMPLEMENT, THERE ARE STEPS THAT
SHOULD BE TAKEN SOONER RATHER THAN LATER.
tructual change in accounting education is
long overdue. The 2012 Pathways Commission report, issued by the American Accounting Association (AAA) and the
American Institute of Certified Public Accountants (AICPA), suggests undergraduate education
should have a foundational program paradigm that
would anchor studies to real-world settings. The Commission also advocates for closer links between research
and practice as well as between practice and education.
According to the Commission, existing academic research has become too far removed from real-world
accounting problems and thus is of little use to current
practitioners. Regarding education, the typical accounting program is built on an outmoded lecture model that
requires students to memorize accounting rules and
then apply them while solving structured problems.
When confronted with a more detailed problem that
varies from the textbook exercise, students are often at
a loss on where to begin. Often, after performing poorly
on an exam, they complain the problem was “not like
the ones we worked on in class or for homework.”
Given the sheer quantity of areas that have to be covered in the intermediate accounting series, course coverage often is limited by time, forcing the instructor to
quickly go over key concepts and work a few exercises.
Little time is available for more creative assignments,
such as case studies and research projects. These
higher-level exercises help students think through concepts and explore their significance.
S
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In short, accounting education at many universities is
limited to content learning with little emphasis on curricula and assignments that emphasize abstract reasoning and critical thinking. The Commission suggests
such a passive learning model may discourage brighter,
more capable students from majoring in accounting.
This model also fails to provide accounting graduates
with the higher skill level they need to succeed in their
careers. Collaboration and research skills are important
for students to master, as are skills in public speaking
and report writing. Moreover, the Pathways Commission report suggests graduates need a better understanding of how the accounting profession contributes
to the global business environment and to society in
general. In this regard, the commissioners assert that
undergraduate accounting programs should be restructured to place greater emphasis on conceptual learning
by adopting an interactive approach. Doing so would require innovative pedagogical tools, including assignments designed to stress research, report writing, group
projects, and simulations.
By adopting an interactive approach emphasizing student engagement, accounting graduates would be better prepared for the challenges ahead. In this article, we
posit an undergraduate student-centered program
model based on the Pathways Commission’s recommendations. In addition, we present suggestions on addressing the impediments listed in the Commission’s
report that inhibit development of such a model.
solving essentially structural problems. The pressure of
accommodating the 150-credit-hour requirement has
limited the ability to develop a program model and
coursework that emphasize the skill sets that employers
are looking for in accounting graduates. Employers in
today’s global and highly technical environment seek
accounting graduates who can contribute to the decision-making process by both thinking independently
and working with others in a group setting. Graduates
are expected to possess strong research skills with the
ability to access databases and generate reports clearly
and concisely.
A student-centered undergraduate program focused
on enhancing these skills would limit the number of
courses to no more than 27 hours. The rationale behind
this is to provide sufficient time to incorporate more
writing assignments, team projects, and simulations into
the coursework. More emphasis would be placed on
providing students with greater exposure to business
and nonbusiness disciplines. An important goal for such
a program is to provide undergraduate accounting majors with a more holistic, well-rounded learning
experience.
In their quest to provide prospective CPA candidates
with a vehicle for meeting the 150-hour statutory requirement, many programs have been expanded to five
years, which requires students to take graduate coursework in order to receive their bachelor’s degree as well
as their master’s. Other programs allow students to have
a double major in meeting this eligibility requirement.
Regardless of modality, we believe that predicating undergraduate accounting programs on meeting the 150credit-hour requirement limits the ability of accounting
educators to incorporate more innovative pedagogy. A
shift in emphasis also is needed from the practitioner to
the user of accounting information to help build a unifying model that directly relates managerial accounting
concepts to financial accounting concepts.
Pedagogies and course content that engage students
more actively could be developed with this in mind.
Greater student engagement, for instance, might be derived from student debates over the appropriate accounting treatment to be used in a particular transaction
or context or from group research assignments involving
written and oral reports. Likewise, students could en-
A N I N T E R A C T I V E , S T U D E N T- C E N T E R E D
LEARNING PROGRAM
A student-centered approach to undergraduate accounting education would first require fundamental changes
at both the program and course levels. Currently, accounting coursework consists of multiple financial and
cost/managerial courses supplemented by three to six
hours of tax and accounting information systems
courses. Under this model, which characterizes the vast
majority of current programs, students often are unable
to connect knowledge gained in one course to that
gained in another. In essence, there is no unifying
theme or paradigm linking accounting courses. The result? Upon graduating, students have little more than a
superficial knowledge of the technical skills needed for
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gage in situational role playing, which would encourage
them to view business decisions from the vantage point
of particular stakeholder groups such as management,
boards of directors, investors, and regulators.
A more unified program structure should aim to orient the focus away from the practitioner and toward the
end user (for instance, investors, management, or creditors). The goal should be to stress integration of the information needs of management with those of external
users. Such a model would be similar to the one recommended in the business activity model (BAM), which
builds discussion of the various intermediate accounting
topics around the cash flow statement activities of operating, investing, and financing.1 Accordingly, we use
this model to develop the intermediate accounting series and other financial accounting courses that compose our program.
STRUCTURING
THE
fied as analytic/design skills. The “appreciative” subset
includes the student’s ability to receive, evaluate, and
react to ideas, make judgments, and think and act critically. This latter subset would include knowledge of
what questions to ask, lifelong learning, and recognition
of one’s own strengths and limitations.
These skill sets underlie the development and content of the courses that compose our proposed program,
as well as the curricula and teaching pedagogies used.
While recent research suggests the development of
these generic skill sets is important, it is equally important for students to develop a sense of their own abilities
so they can build on their self-awareness, selfmanagement, social awareness, and relationshipmanagement skills.5 These “people skills” fall into an
area of educational research known as emotional intelligence (EI). A rich body of research in this area suggests
that students fail to understand the importance of interpersonal communication. Sadly, students too often are
left with the impression that the objective of their accounting degree program is limited to the accumulation
of technical knowledge. These studies attribute such
student misconceptions to a disconnect between instructors and practitioners regarding which learning outcomes
are most relevant.6 For example, when analyzing the
responses of instructors who were asked about which
skills they deemed most important, those who had
worked in the field ranked personal attributes such as
self-confidence and managerial skills significantly higher
than instructors who had never worked as accountants.
Many accounting programs are focused primarily on
development of technical skills. This is largely the result
of pressure to accommodate the 150-hour requirement
and to cover a seemingly endless body of knowledge, including Financial Accounting Standards Board (FASB)
codifications, Securities & Exchange Commission (SEC)
releases, and Emerging Issues Task Force (EITF) statements, among others. While accounting students must
acquire a comprehensive knowledge of U.S. Generally
Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS), accounting
programs must go further and emphasize development
of the skills we have mentioned. A failure to emphasize
these skills will limit the value of an accounting education and leave students unprepared to fulfill employer
PROGRAM
Research into the competencies that accounting graduates should acquire suggests significant changes have
occurred over the past 20 years. In today’s global business environment, it is not enough for students to master the technical skills needed to process accounting
data for taxes and financial statement preparation.2
Rather, an accounting program should be centered on a
learning paradigm that stresses group dynamics, strategic analysis, verbal and written communication, and students’ ability to adopt alternative solutions to vexing
problems. Employers seek accounting graduates who
are able to interact and relate well with other professionals and who can motivate and direct others toward
problem resolution. Educational literature refers to
these skills as generic skill sets. Even earlier studies
have focused on the need to complement technical
skills with these other important skills.3
Interestingly, a 2012 study delineated these generic
skill sets into cognitive and behavioral categories.4 The
authors identified three subsets within the cognitive
category: routine, analytic/design, and appreciative
skills. The behavioral category contains two subsets:
personal and interpersonal. Report/essay writing and
computer literacy are identified as routine skills; identification, evaluation, and management information and
evidence, reasoning, and conceptualization are identi-
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Accounting as a Decision Science and
Information System (3 credit hours)
In this course, the basic financial statements would be
introduced and their interrelationship examined. Emphasis would be placed on key profitability, liquidity,
and solvency ratios and their significance to external
users. Following this discussion, the information needs
of internal users, such as management, would be considered. The focus here would be on understanding the
trade-off between good decision management and
control.
An introduction to cost accounting systems and their
use in the accumulation of data for product costing, pricing decisions, and performance evaluation would be provided. Overhead allocation under both traditional and
activity-based costing (ABC) would also be discussed.
Additional managerial and financial accounting topics
would be examined through the use of hypothetical
cases, and students would be expected to formulate
questions with which management is typically confronted, utilizing a flow-of-funds model that includes
operating, investing, and financing activities. Here, students may benefit from role playing by being assigned
to groups of end users: upper management, in-house accountants, independent auditors, and principal investors. If there are not enough students available to
represent all groups, some could be assigned other
roles. For example, one group of students playing the
role of upper-level managers seeking information might
pose questions to another group of students assuming
the role of in-house accountants. In this way a number
of managerial accounting topics could be introduced:
cost-volume-profit analysis, profit plan, performance
analysis, and so on. Students assuming the role of principal investors (for instance, board members) might
seek answers to questions regarding overall performance and financial position. This would provide an
opportunity to cover a number of financial accounting
topics, such as product costing; Last-In, First-Out
(LIFO) accounting; income recognition; and introductory financial analysis.
In formulating questions, students would be expected to rely on more than just their textbooks and
would supplement their education and skills by researching databases, the Web, and podcasts. In effect,
expectations. Further, we believe that existing accounting programs predicated solely on the development of
technical skills may be attracting lower-achieving students while at the same time discouraging more capable
students from majoring in accounting. The 2012 Pathways Commission report states that:
“Many students beginning in accounting gain the impression
that it is a narrow vocational field, and professional practice
is almost exclusively about auditing or taxation. The result is
too many high-quality students who might otherwise be interested in pursuing accounting are not attracted to it. Promoting
the utility of accounting to the broader society, and, moreover,
ensuring diversity among those who enter the profession is
critical.” 7
We believe that our proposed program incorporates
course content and pedagogies that would allow students to develop these important skill sets (generic and
EI). Moreover, emphasis on their importance should be
conveyed to students in the very first accounting course.
Let’s now discuss some suggested course content based
on recommendations in the Pathways Commission report and recent research regarding undergraduate accounting programs.
EXAMINING
THE
COURSE CONTENT
Introductory Accounting I (3 credit hours)
The first introductory accounting course would provide
students with the understanding that accounting information is used to meet the decision-making needs of
different users: managers, stockholders, creditors, consumer groups, regulatory bodies, and so forth. A conceptual framework would provide information in the
following areas: the differing information needs of a variety of end users, the role of accounting information in
facilitating an efficient allocation of capital and resources, and the effect of ethical considerations on the
application of accounting standards. Finally, the course
would consider the cultural and institutional barriers
that make application of IFRS problematic, along with
the specific changes that are being proposed.
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the instructor would function more as a facilitator by directing students to data sources, and students would be
expected to play a more active role as information gatherers. Assignments would take the form of in-house debates, role playing, simulations, research, and group projects. Exams would be in the form of short case
analyses involving situations affecting operations, investing, and financing. The goal of course pedagogy
and structure would be to create a more integrated
learning experience where students develop a sense of
the importance of accounting information in a number
of decision-making contexts. This would enable them
to better differentiate the decision needs of internal
users from those of external users and analyze the information from the perspective of the various end users.
how the information needs of internal managers differ
from those of external users and show the interrelationship of each. Organization of the various topics would
be structured around a flow-of-funds model similar to
the BAM, which addresses intermediate accounting in
terms of operating, investing, and financing activities
(for example, statement of cash flows).8 The proponents of the BAM suggest that the traditional approach—which builds valuation, measurement, and disclosure around the balance sheet—focuses too much on
procedures and content learning. The BAM researchers
assert that, given the sheer volume of financial accounting standards, too little time is spent on financial statement disclosures and conceptual issues relating to valuation and measurement. They cite the experience of
the University of Virginia’s McIntire School of Commerce with the BAM, which helped them win the
AAA’s coveted Innovation in Accounting Education
Award. We, too, utilize the BAM to develop our intermediate accounting series. Case studies of fictional
companies require students to develop a number of
questions for each activity. Focus would initially be on
learning general objectives, such as the qualitative characteristics and elements of accounting information. This
information would then be mapped into systems of
measurement and valuation as they relate to the asset
side of the balance sheet.
The second course would focus on liability and stockholder equity—again, within the context of operating,
investing, and financing activities. Given the prospect of
mandatory implementation of IFRS in the United
States, the courses would consider differences between
the two reporting systems. Students would be assigned
to teams to debate the pros and cons of an IFRS standard in a particular transaction vis-à-vis the corresponding GAAP standard. Each team would submit a written
analysis, which would be evaluated based on the
strength and substance of the principal points covered
and the organization and clarity of their presentation.
Exams would consist of a number of short cases, which
require students to apply key GAAP and IFRS concepts, determine the financial effects of applying one
standard over another, and justify which standard would
best reflect the economic substance of a transaction. Additionally, the course would utilize interactive software,
Accounting Information Systems (3 credit hours)
The focus in this course would be to expose students to
electronic data processing systems used by publicly and
privately held firms for internal and external use. An
outreach program with the surrounding business community would facilitate field projects for students, which
would give them firsthand experience on the nature and
types of technology used by various firms. This would
provide a glimpse into the process of generating accounting information used for both financial reporting
and internal decision making. Students in this course
would gain a keener understanding and appreciation of
the cost of accounting information, and they would be
introduced to a common dilemma facing managers:
whether to rely on a single information system adapted
for varying needs or to develop customized systems for
financial reporting and internal decision making. Assignments would consist of written and oral reports/essays
and a research paper explaining the costs and benefits
associated with different information-processing technologies, as well as recent innovations in these areas.
The following courses would be strictly for
accounting/finance majors.
Financial Accounting and Reporting (6 credit hours)
Although this course would focus primarily on financial
accounting theory, some attempt would be made to incorporate cost/managerial accounting concepts into the
curriculum. This would help students maintain focus on
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which can place students in the role of accountants and
managers by first completing the accounting cycle of a
hypothetical company (journalizing, posting to general
ledger, financial statement analysis, and so on) and then
making presentations involving various accounting issues to other students, who play the roles of key investors, creditors, regulators, and consumers. Each student’s progress would be reflected by management’s
evaluation in the form of “salary increases.” This encourages learners to develop skills in the expeditious use
of databases by requiring them to conduct research into
various IFRS and GAAP pronouncements. Finally, students would be expected to submit a research paper regarding some controversial accounting issue.
needed. In addition, the course would consider the independent auditor’s reliance on the reports of outside
auditors, as well as the financial statements of a client’s
foreign affiliates. Standards promulgated by the International Auditing and Assurance Standards Board
(IAASB) and the process through which auditing standards evolve would be examined and compared to U.S.
auditing standards. Particular emphasis would be placed
on how adoption of and reliance on international auditing standards affects accountants’ legal liability under
SOX. Students also will be asked to consider whether
the ethical and moral dimensions of the independent
auditor’s engagements and situations warrant either a
disclaimer of opinion or possible withdrawal. Last, students would complete a simulation involving an independent audit of a hypothetical company, which would
require them to apply various programs and procedures,
including statistical sampling techniques used to confirm accounts and economic transactions.
Seminar in Cost Management and Control
(3 credit hours)
This course would be structured through the use of
case analyses and would require research into factors influencing the basis for management’s decisions, such as
agency theory, the advantages/disadvantages of ABC,
and performance evaluation. Emphasis would be placed
on understanding the trade-off between decision management and control by using cost analysis to maximize
value-added activities and eliminate nonvalue-added
activities. Students would be assigned to random groups
that are responsible for presenting cases that require research into contemporary problems in management accounting. Presentations can be enhanced through debates over the pros and cons of alternative cost
accounting theories and practices. Exams would consist
of written case analyses and essays. Students can also
be evaluated on debate performance, understanding of
controversial cost/managerial topics, and a group field
study covering a major area of cost management.
Income Tax Accounting (3 credit hours)
This course would focus on the concepts used in the
preparation of U.S. Form 1040 for individuals. In addition to classroom instruction, students would prepare individual tax returns for community residents under the
supervision of a qualified instructor. Alternatively, students may receive credit for this course by enrolling in
an internship program that places them with local public
accounting or professional tax preparation firms, where
they may be responsible for helping prepare individual
and business tax returns. In addition to grades being
based on exams that cover key tax concepts and their
application, students would submit a research paper examining the ethical considerations related to tax preparation (for instance, the ethics of selling tax shelters).
Auditing (3 credit hours)
This course would consist of a general examination of
the function of the independent auditor, including an
evaluation of client internal controls relating to
Sarbanes-Oxley Act (SOX) requirements. This would
also provide an opportunity to discuss how mandatory
adoption of IFRS in the U.S. will affect auditor reliance
on the client’s system of internal controls and determine the extent to which additional field testing is
International Accounting (3 credit hours)
This course would provide a comprehensive analysis of
IFRS and a comparison of these standards to GAAP.
Cultural and institutional differences between countries,
which make de facto application of a single set of universal standards problematic, would be considered. In
addition, consolidation of foreign affiliate accounts, as
well as issues relating to translation and transaction exposure, would be examined. Students would be ex-
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pected to analyze the financial statements of two global
companies using IFRS and select one of the companies
for inclusion in an investment portfolio based on their
conclusions. Exams would consist of a combination of
problems and essay questions. Additionally, teams would
be required to present short cases to their peers with an
evaluation based on their mastery of particular concepts,
organization of the presentation, and how well they articulated key points. Peer groups in the audience would
be evaluated on their listening skills, the substance and
depth of their questions, and their ability to engage.
granting release time to accounting faculty—and rewarding faculty for contributions made to program
development—is necessary. With regard to the question
of how to provide prospective CPA candidates with a
vehicle for meeting the statutory 150-hour requirement,
we suggest that accounting departments utilize either
separate certificate or graduate programs independent
of undergraduate programs. In this regard, we believe
that attempts to position undergraduate programs to accommodate the eligibility requirement are misplaced
regardless of modality (for instance, five-year programs).
We stress that not all undergraduate accounting majors seek to become CPAs. Rather, many students
choose accounting to provide them with a well-rounded
understanding of accounting and its relationship to
other business disciplines. We concur with many accounting academicians—and some practitioners—who
say the 150-hour requirement in many undergraduate
programs limits the value of accounting education and
reflects faculty and administrator resistance to change.
Undergraduate programs should facilitate criticalthinking, writing, interpersonal, and research skills, all
of which are vital to long-term career advancement.
Structuring a program in this fashion proves quite challenging for many accounting departments.
Indeed, the transition away from the traditional
lecture/passive model and toward student-centered
learning will not happen overnight. The 2012 Pathways
Commission report identifies the impediments that
must be overcome in order for major structural change
to occur. In the next section, we examine these roadblocks in more detail.
MEASURING PROGRESS
Assessment tools will consist of the following measures:
1. Organization of major points;
2. Extent of support (research) for key points;
3. Ability to engage the audience (other students);
4. Strength of debate (if applicable);
5. Speaking extemporaneously without reading
notes, making eye contact;
6. Clarity and effectiveness of writing;
7. How well group discussions are integrated and organized among group members; and
8. Originality of research.9
We further posit, “Which of the indicators are utilized would depend on the particular assignment. A numerical ranking scale from one to five may be appropriate, using assigned qualitative designations from
unacceptable to outstanding. From this scale, a subsequent numerical composite average may be calculated.
You can chart and monitor progress with the aid of grading and assessment features in Blackboard—an online
educational forum. Communication with individual students as to their strengths and weaknesses would be
beneficial as well.”10
Clearly, it will take a lot of time and effort to implement such a program in order to retool the existing
course structure. Likewise, development of related curricula, course pedagogy, and teaching materials also requires a considerable amount of time and resources. It
is necessary for faculty to coordinate their time, talent,
and energy in order to transition from the current passive learning model to a more interactive, studentfocused one. Administrative support in the form of
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R E M OV I N G
THE
OLD BARRIERS
Some of the major impediments to student-centered
learning identified by the Pathways Commission report
include:
◆ Lack of faculty experience,
◆ Excessive focus on research,
◆ Lack of reward structures,
◆ Resistance of administration/faculty, and
◆ Lack of unity between faculty and practitioners.
Many of these impediments (and others) are interrelated and result from a failure of various stakeholders
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(academics, professionals, accrediting bodies) working
together. For example, a lack of cohesion exists between
accounting practitioners and faculty. A significant number of papers have noted the divergence between accounting practice and academia.11 Unfortunately, the
consensus of the Pathways Commission is that lack of
unity and coordination among these stakeholders continues to be an obstacle that prevents needed structural
change. The Commission blames the groups involved.
For example, the efforts of the Accounting Education
Change Commission (AECC), which dissolved in the
early 1990s, culminated in just a handful of accounting
departments that implemented only some of the recommended changes in program development and curricula.
One of the results of this divergence has been faculty’s
pursuit of academic research that has had little relevance
to practicing professionals, most of whom have only a
limited understanding of multivariate statistics, higherlevel math, and complex research methodology. The
Pathways Commission report suggests that academic research should inform accounting practices and help
shape the development of reporting standards in a manner similar to how medical research informs practicing
physicians or how scientific research informs practicing
chemists and pharmaceutical manufacturers.
One possible solution to overcoming this problem
may be to reward faculty for contributing to applied research and publishing in professional journals.
Presently, reward structures are heavily weighted toward faculty who publish empirical research in academically oriented journals. Another solution might be to
forge outreach programs with firms in the industry and
allow faculty sabbatical leave to participate in workshops and task forces sponsored by state CPA societies.
This experience would enhance faculty awareness of
major areas of concern and help them to stay abreast of
current developments in the field by bridging the gap
between practice and education. This would go a long
way toward overcoming the criticism that faculty lack
practical experience to develop curricula and effective
pedagogies. In this respect, sabbatical leave would better position faculty to provide students with a more relevant learning experience, thereby helping graduates
meet employer expectations.
Another impediment to student-centered learning is
M A N A G E M E N T A C C O U N T I N G Q U A R T E R LY
a shortage of qualified doctoral candidates in accounting
at a time of increasing enrollments. Moreover, the median age of accounting faculty is 55 years old, with
many expected to retire over the next 10 years. To address accreditation concerns, a nonaccounting Ph.D.
candidate with an extensive accounting background in
industry and/or public accounting might be allowed to
join doctoral programs sanctioned by the Association to
Advance Collegiate Schools of Business (AACSB) by
taking additional accounting coursework. These programs have become popular in recent years for addressing the shortage of qualified teaching professionals.
To further these efforts, the existing practice of providing both a teaching and research track should be expanded. Doctoral candidates in accounting, who are
more oriented toward teaching, curricula development,
and advising, might be rewarded with tenure-based or
multiyear contracts, a change from the prevailing practice of offering such faculty noncontinuing contracts.
Furthermore, the teaching track might be extended to
include doctoral candidates in other business disciplines
who also possess CPA or CMA® (Certified Management
Accountant) certifications. This would incentivize accounting faculty, many of whom are offered significantly lower pay for higher teaching and advisory loads
than their research-oriented colleagues.
T H E AC C R E D I TO R S W E I G H I N
Regarding the reluctance of deans and chairs to implement change, accreditation bodies, including the
Higher Learning Commission (HLC), the Accreditation
Council for Business Schools and Programs (ACBSP),
and the AACSB, increasingly emphasize an activelearning approach. They suggest an interactive program
that emphasizes student development of criticalthinking, writing, research, and people skills. Specifically, the AACSB recommends that any undergraduate
curriculum should include the following areas of general knowledge and skill:
◆ Communication abilities,
◆ Ethical understanding and reasoning abilities,
◆ Analytical skills,
◆ Use of information technology,
◆ Multicultural and diversity understanding, and
◆ Reflective thinking skills.
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Obtaining accreditation will become increasingly important over time as employers are likely to limit their
job applicant pool to students coming from accredited
programs. We believe that this trend will be a driving
force toward overcoming administrative and faculty inertia with regard to implementing structural change.
Moreover, the growing enrollment in accounting programs will facilitate an increase in tuition revenue and,
consequently, budgets at private universities. The Big 4
international accounting firms, AICPA, and AAA provide myriad information services, webcasts and podcasts, and grants for universities seeking structural
change to their existing programs. An example of a
good source is KPMG’s Institutes website (www.kpmg
institutes.com), which we incorporate into our international accounting course. It is also likely that mandatory
adoption of IFRS will serve as an impetus for interested
stakeholders, such as public accounting firms, industry
employers, and regulators, to work with the accounting
schools to implement fundamental structural change in
the nature and content of curricula.
CLEARING
THE
counting majors by exposing them to basic accounting
principles early on and help attract bright students
seeking majors that are more intellectually challenging.
Importantly, this would also allow undergraduate accounting faculty to teach at a more conceptual level and
minimize the time needed to cover basic accounting. A
further benefit of forging a relationship with local high
schools might be the opportunity for doctoral students
to gain valuable teaching experience at a fundamental
level, which would help prepare them for their first academic position in a university.
In preparing accounting faculty to adopt an interactive learning approach, doctoral candidates should be
required to take additional coursework in learning theory, curriculum development, and education psychology
or have such training incorporated into their existing
coursework. For example, in the area of management
accounting, sufficient literature exists regarding the predisposition of decision makers toward incentives that
subvert organizational goals for personal gain. Other literature focuses on how to structure reward systems to
better align what is referred to as the three-legged stool
of organizational architecture: performance measurement, reward performance, and partitioned decision
rights.12 Accordingly, doctoral candidates might be required to take additional seminars and/or conduct research in management accounting with a focus on how
accounting information affects human behavior.
An interactive approach might be to incorporate role
playing into doctoral coursework in which candidates
would assume various roles, such as managers, securities and credit analysts, and government regulators. In
this way, they would be practiced in areas of managerial
decision making, such as control measures and performance evaluation. This approach, combined with research studies, would allow doctoral candidates to develop a keener appreciation of human motivation along
with improved listening and interpersonal skills. Finally, all doctoral candidates in accounting should be required to teach some undergraduate accounting courses
as part of their educational experience.
Regarding tenure decisions, effective teaching and
classroom performance should be elevated in importance relative to research and greater monetary rewards
and advancement placed on faculty development of in-
H U R D L E S W I L L TA K E T I M E
It will take time to overcome the impediment suggesting that accounting faculty lack experience in developing more innovative curricula and teaching methods,
such as those associated with interactive learning. Faculty will need significant resources to participate in
workshops, seminars, and conferences. Professional development activities should emphasize student development of critical-thinking and communication skills
and facilitate faculty insight into different learning
modalities. Existing doctoral programs in accounting
(currently in short supply) will need to be revamped to
place greater importance on teaching internships and
applied research so that students graduating with a
Ph.D. can both teach and conduct valuable research.
In addition, relationships between university accounting departments and high schools offering accounting and other business classes need to be established. This would achieve two goals: It would identify
gifted students with a potential interest in accounting
and would provide an opportunity for high school students to learn firsthand about careers in accounting.
This would enhance the success of prospective ac-
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novative teaching methods. In response to the findings
of the Pathways Commission, Lindenwood University
in St. Charles, Mo., revamped its programs to place
greater emphasis on conceptual learning by requiring
adjunct and full-time faculty to make greater use of applications (for instance, case analyses, research, and student presentations) at both the undergraduate and graduate levels. Beginning in fall 2013, the school will offer
a master’s of accountancy program through which students interested in a CPA track might meet the 150hour statutory requirement. In connection with this program, courses will be offered in forensic accounting,
ethical dimensions of financial reporting, accounting research and reports, and advanced financial theory. The
aim here is to remove the burden of the 150-hour requirement on the undergraduate program and to address the needs of other accounting majors seeking a
different career path. Accordingly, the school will be expanding the gamut of elective courses in the undergraduate program to include an introduction to international
accounting, as well as courses in cost, information systems, and operations management, with a goal toward
offering undergraduates a path leading to the CMA designation. The school also expects to offer a capstone accounting course that would allow students to integrate
both financial and managerial accounting with other
functional areas of business.
While the challenges created by transitioning from a
passive to an active student-centered learning model are
formidable, the process of change must begin immediately. The impediments to change must be addressed
and overcome if accounting is to be considered a relevant area of academic study in the future. The primary
focus and intent should be to provide students with the
necessary skill sets and basic capabilities required to ensure their success in the profession. To this end, the recommendations for overcoming the barriers discussed in
this article should serve as the basis for a constructive
and substantive dialogue rather than as a definitive,
comprehensive solution to a complex problem. ■
Traci Wiesner is a freelance journalist who holds a B.A. degree in accounting from the School of Business and Entrepreneurship at Lindenwood University. You can reach Traci
at [email protected].
E N D N OT E S
1 Anthony H. Catanach, David B. Croll, and Robert L. Grinaker,
“Teaching Intermediate 1 Financial Accounting Using a
Business Activity Model,” Issues in Accounting Education,
November 2000, pp. 583-603.
2 W. Steve Albrecht and Robert J. Sack, “Charting a Course
through a Perilous Future,” Accounting Education Series,
American Accounting Association, Chapters 1-6, 2000.
3 Committee on the Future Structure, Content, and Scope of
Accounting Education (The Bedford Committee), “Future
Accounting Education: Preparing for the Expanding Profession,” Issues in Accounting Education, Spring 1986, pp. 168-195;
Accounting Education Change Commission (AECC), various
position and issue statements, minutes, and annual reports,
1989 to 1996, AAA, Sarasota, Fla.; and The Big 8, “Perspectives on Education: Capabilities for Success in the Accounting
Professions,” AAA, April 1989,
www.aaahq.org/AECC/big8/cover.htm.
4 Lyn Daff, Paul De Lange, and Beverly Jackling, “A Comparison of Generic Skills and Emotional Intelligence in Accounting Education,” Issues in Accounting Education, August 2012,
pp. 627-645.
5 Ibid.
6 Peter Salovey and John D. Mayer, “Emotional Intelligence,”
Imagination, Cognition and Personality, 1990, pp. 185-211; Laura
L. Myers and Mary L. Tucker, “Increasing Awareness of Emotional Intelligence in a Business Curriculum,” Business Communication Quarterly, March 2005, pp. 44-51; Daniel Goleman,
Emotional Intelligence: Why It Can Matter More Than IQ, Bloomsbury, London, U.K., 1995; Anne Abraham, “The Need for the
Integration of Emotional Intelligence Skills in Business Education,” The Business Renaissance Quarterly, 2006; and Ernest H.
O’Boyle Jr., Ronald H. Humphrey, Jeffrey M. Pollack, Thomas
H. Hawver, and Paul A. Story, “The Relationship between
Emotional Intelligence and Job Performance: A Meta-Analysis,” Journal of Organizational Behavior, July 2011, pp. 788-818.
7 AAA and AICPA, The Pathways Commission: Charting a National
Strategy for the Next Generation of Accountants, AAA/AIPCA, July
2012.
8 Catanach, Croll, and Grinaker, 2000.
9 Robert Singer, Zane Swanson, and Jennifer Mack, “IFRS:
A Principles-Based Approach to Structural Reform in US
Accounting Education,” ACBSP Annual Edition, 2013.
10 Ibid.
11 AAA, 1989; AAA, 2012; AECC, 1989-1996; Albrecht and Sack,
2000; Bedford Committee, 1986; and The Commission on
Auditors’ Responsibilities, Manuel F. Cohen (Chairman), The
Commission on Auditors’ Responsibilities: Report, Conclusions, and
Recommendations, AICPA, New York, N.Y., 1978.
12 Jerold L. Zimmerman, Accounting for Decision Making and
Control, McGraw-Hill, Boston, Mass., 2009.
Robert A. Singer, Ph.D., CPA, is an associate professor of
accounting in the School of Business and Entrepreneurship
at Lindenwood University in St. Charles, Mo. You can reach
Bob at (636) 949-4829 or [email protected].
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