Accounting Education Change Commission Research Articles

Is Participation in the Volunteer Income Tax Assistance (VITA) Program Associated with Students' Problem-Solving Skills and Professional Commitment?

ABSTRACTThe Accounting Education Change Commission (AECC 1990, 309) states accounting students “should identify and solve unstructured problems that require the use of multiple information sources. Learning by doing should be emphasized.” The Pathways Commission (2012) also emphasizes the importance of exposing students to complex, real-world problems. Volunteer Income Tax Assistance (VITA) participation is an experiential learning opportunity with real-world problems and real clients in a professional setting. Using survey data obtained from students at seven U.S. universities, we test whether students who participate in VITA programs have greater professionalism as measured by problem-solving skills and professional commitment. Our results generally indicate participation in VITA programs is positively and significantly associated with problem-solving skills, but not with commitment to the profession. We do not find strong evidence that the association between VITA participation and problem solving differs significantly between traditional (age 25 and under) and nontraditional students (over age 25) or that the association differs significantly for students who intend to pursue tax careers and those who do not. Our study contributes to the extant literature on the effectiveness of experiential learning, to our understanding of attributes of professionalism in students, and to the specific benefits of the VITA program.

Is Reform in Accounting Education Needed in China and Russia: A Literature Review

The purpose of this study is to examine, through literature review, whether China and Russia are in need of accounting education reforms when they are not English-speaking, do not have developed accounting systems as major English-speaking countries do, have a different political orientation from the selected Englishspeaking countries and are at a transition stage from a state-planned economy to a market-driven economy. The paper is based entirely on literature review of global forces at play on accounting education reform, accounting education change in selected English-speaking countries and developments in accounting education in Russia and China. The review indicates that the two countries have a desperate need for accounting education change and that gradual changes are taking place in both countries, although China is at a more advanced stage of development because of its international trade. There are signs of both countries leaning towards the direction of the Accounting Education Change Commission’s (AECC) initiatives. China is focusing more on breadth of education than specialization and Russia is at a preliminary stage having to enhance its financial reporting system. The available literature on accounting education in Russia and China is limited, particularly in Russia as the Soviet’s old system did not offer accounting degrees. However, this does not present a problem in identifying an accounting education trend in these two countries from the available literature as explained in the final section of this paper “Limitations of This Study and Future Research”. With major English-speaking and non English-speaking countries leaning towards AECC in their accounting education reforms regardless of the political orientation of the country, one may conclude that AECC is the direction that developing countries having the same need for change should consider. The comparison made in this paper provides insights into an area that received little or no attention in the past.

The Goal Project: A Group Assignment to Encourage Creative Thinking, Leadership Abilities and Communication Skills

The classroom assignment described in this paper, The Goal Project, gives students an opportunity to develop four of the skills and abilities required to be a successful accountant. In 1990, the Accounting Education Change Commission issued Position Statement Number One, Objectives of Education for Accountants. Appendix B of that statement contains eight categories of knowledge, skills, personal capacities and attitudes that are needed by accounting graduates. The Institute of Management Accountants has outlined the work of a management accountant to include working in small business teams and participating in strategic decision making. The project described in this paper replicates the work an accountant would perform when working in problem-solving teams. Data was collected and results are included from a questionnaire completed by 166 students who participated in The Goal Project. The results of perceived improvement in creative problem solving, leadership skills, and oral and written communication skills are presented.

Is Hong Kong ready for accounting education reform: an analysis of tri-partite views

Purpose – The purpose of this study is to determine whether Hong Kong is ready for accounting education reform. Design/methodology/approach – The approach for this study is using a Likert-scale questionnaire for the academic institutions, the Hong Kong Institute of Certified Public Accountants and the big four accounting firms, followed by detailed follow-up interviews with each. Findings – There is general agreement among accounting academics and the profession that the Accounting Education Change Commission initiatives should be adopted in Hong Kong. Hong Kong accounting academics in public institutions do not oppose to a balance between teaching and research, but would oppose to an emphasis of teaching over research. This is important as an overemphasis on research could mean less time for teaching and curriculum development. The big four accounting firms are either happy with the way Hong Kong universities have been educating the accounting graduates or have no complaints against them. This is also important as an urge for accounting education reform usually comes from the practitioners as in the USA. Originality/value – The USA was the first country that saw the need for accounting education reform as accounting practitioners felt that curriculum and pedagogical considerations placed heavy emphasis on the technical aspects of accounting at the expense of a general, broad-based education. Similar needs for change were also found in the UK and Australia. As Hong Kong is one of the world’s major financial centres with a large securities exchange, there is a great deal of emphasis on accounting standards, financial reporting, corporate governance, etc., and hence the importance of accounting education. Is Hong Kong ready for the change?

Using a Social Enterprise Service-Learning Strategy in an Introductory Management Accounting Course

ABSTRACT The accounting profession has long called for learning strategies that actively develop students' critical analysis and problem-solving skills in unstructured settings (Accounting Education Change Commission [AECC] 1990), and where learning outcomes map into American Institute of Certified Public Accountants (AICPA) (2000) core competencies. This paper proposes the use of a service-learning strategy in the introductory management accounting course. This learning strategy reflects the Institute of Management Accountants' (IMA) new definition of management accounting as a strategic imperative (IMA 2008), and responds to Rama's (1998) monograph revealing limited examples of service-learning in management accounting. In addition, this paper proposes that faculty work with real social enterprises that sell goods and services for profit and in support of a broader social mission. I argue that relative to working on nonprofit/government cases, working in the social enterprise setting may offer students a more tractable transition from the for-profit examples in many textbooks. I also argue that relative to working on for-profit cases, working in the social enterprise setting may provide students access to proprietary data used internally for managerial decision-making. The pedagogy of service-learning in the accounting curriculum and its relevance to that proposed in this paper is discussed. Generalized service-learning planning documents, examples, adaptations of case study questions, and a responsibility checklist are provided. Implementation guidelines that address key stakeholder barriers to success (Kenworthy-U'Ren 2008) are discussed, and examples of social enterprise service-learning implementations are presented. Post-implementation survey responses from students suggest that the social enterprise service-learning experience positively affected their learning of specific management accounting concepts, issues faced by mission-driven organizations, and how they can uniquely contribute by applying what they learn.

A Descriptive Study of Institutional Characteristics of the Introductory Accounting Course

ABSTRACTIntroductory accounting has historically been a foundational course in most undergraduate business curriculums. In many cases, the course serves as a prerequisite for all upper-level business and accounting courses. However, no current public data exist on the structure and characteristics of introductory accounting across a large sample of institutions. This study begins to fill this void by providing descriptive data on institutional characteristics of the introductory accounting course. Data are collected on seven different dimensions of the course suggested by the recommendations of the Accounting Education Change Commission (AECC) and recent trends in higher education: course size and staffing, pedagogical orientation/teaching approach, standardization of course elements across instructors, the textbook selection process, use of technology-based course management tools, off-site course delivery, and transfer credit acceptance. In some cases, the current data can be compared to previous research that examined similar characteristics. The resulting data can provide instructors, administrators, and researchers with a useful benchmark for developing teaching plans, curriculum, and future academic research.

A Half Century of Close Encounters with the First Course in Accounting

ABSTRACTThis paper describes the author's encounters with the first course in accounting in his half century of study, teaching, and service on five campuses, as a student, doctoral teaching assistant, lecturer, professor, accounting department administrator, business dean, and senior scholar. Also described are his encounters with issues surrounding the first course in accounting in a variety of leadership roles with the American Accounting Association, American Institute of Certified Public Accountants, Accounting Education Change Commission, Association for Advancement of Collegiate Schools of Business, the Accounting Programs Leadership Group, and the Federation of Schools of Accountancy. Changes in the nature, content, and teaching of the first course in accounting are discussed. Observations for the future of the first course in accounting are offered.

Measurement Of Student Ability To Problem Solve In Accounting

<p class="MsoNormal" style="text-align: justify; margin: 0in 37.8pt 0pt 0.5in;"><span style="mso-bidi-font-style: italic;"><span style="font-size: x-small;"><span style="font-family: Batang;">This paper describes the development and evaluation of a test used to measure accounting-specific problem solving skills in business students in an effort to assess the outcome of a significant curricular revision in the principles of accounting series.<span style="mso-spacerun: yes;">  </span>In response to suggestions by the Accounting Education Change Commission (AECC), the accounting faculty at a small, urban university changed the content and method of teaching principles of accounting.<span style="mso-spacerun: yes;">  </span>Since a review of the literature did not produce an appropriate instrument for measuring problem solving in accounting that could be administered within one class period and was machine scorable, the authors developed the Accounting Problem Solving Test (APST) and evaluated its reliability and validity.<span style="mso-spacerun: yes;">  </span>Results provided consistent and strong support that the APST is a reliable and valid instrument for assessing problem solving ability specific to the subject domain of accounting.<span style="mso-spacerun: yes;">  </span>Further use and testing for validity are warranted in situations where teachers are interested in assessing their students’ abilities to problem solve in accounting given changes in teaching strategies.</span></span></span></p>

Rekindling the Debate: What’s Right and What’s Wrong with Masters of Accountancy Programs: The Staff Auditor’s Perspective

ABSTRACT: Global commerce has undergone massive changes over the last two decades. No less so has the worldwide public accounting profession. We have seen two market crashes in the span of eight years, a host of financial reporting fiascoes, and the demise of Arthur Andersen. Historical cost-based accounting is giving way to fair-value accounting, and International Financial Reporting Standards are replacing national rules and regulations. And, yet, not since the Accounting Education Change Commission 20 years ago has there been a significant nationwide dialog regarding changing societal needs and the adequacy of our collegiate accounting programs to meet those needs. With this void in mind, the Education Committee of the American Accounting Association launched in 2008 an initiative to ignite a nationwide dialog of practitioners, academics, and other prominent stakeholders to assess the quality and level of satisfaction with current Master’s of Accountancy programs, the relevance of current coursework, and to identify and prioritize future curriculum initiatives. The first phase of that initiative was a survey conducted in the late spring of 2009 of more than 500 recent graduates of Master’s of Accountancy programs (auditors with two to six years experience); this article reports the findings of that survey. In a nutshell, these young auditors were asked what was right and what was wrong with Master’s of Accountancy programs from their perspective. This is a first step in a larger effort to help give direction to program revisions that would best serve the interests of students, the profession, and society. The purpose of the survey is not to definitively resolve outstanding controversies but rather to encourage further necessary debate. Various interpretations of the findings of the survey are inevitable, invited, and welcome. To that end, it is the authors’ intent to raise as many questions in the following pages as those resolved. Over the last decade academics have witnessed an endless litany of suggestions for curriculum changes from individuals, committees, associations, and firms. Unfortunately, those many recommendations have often been conflicting and provide limited, if any, prioritization of what to add to existing curricula and what to withdraw. Furthermore, we acknowledge that while this article does not provide a substantive discussion of the necessarily complimentary roles of university education, continuing professional education, and on-the-job training, such issues must be included in future dialogs.

The Effect of ComputerBased Assisted Learning on Students' Performance and Attrition in Introductory Accounting Courses

The Accounting Education Change Commission (AECC) values and encourages pedagogical studies that would assist in attracting students through the delivery of First Course in Accounting. The AECC identifies content and instructional methods as the two most important areas that need attention. This study examines the effectiveness of a computer-based assisted learning (CBAL) on students' performance and attrition in the first introductory accounting course. The CBAL is a modified supplemental instruction program with an interactive lecture and computer-based IT component. In a three-year experimental study, the overall grade point average (GPA) of the CBAL students were compared to that of a matched paired control group. The two cohorts were further matched on SAT scores as strong and weak, respectively. We found that there was incremental value in terms of students' performance from CBAL. That is, the GPA of the CBAL students was significantly higher than that of the control group and the attrition rate of the CBAL students is directionally lower than that of the control group. Thus, it appears that the CBAL program is effective in enhancing and improving students' grades in the first introductory accounting course.

Accounting Experiences In Collaborative Learning

This paper discusses incorporating collaborative learning into accounting classes as a response to the Accounting Education Change Commission’s call to install a more active student learner in the classroom. Collaborative learning requires the students to interact with each other and with the material within the classroom setting. It is a departure from the traditional lecture method of teaching. Additionally, the paper addresses opposition and support of collaborative learning. Obstacles to collaborative learning are delineated and strategies to counteract these obstacles are explained.

A History of U.S. Higher Education in Accounting, Part II: Reforming Accounting within the Academy

In the 1970s, efforts to reform accounting education revolved around the movement toward schools of accountancy (or independent departments). These efforts were largely unsuccessful. However, in the 1980s, the movement to expand accounting education beyond a four-year undergraduate degree resulted in American Institute of Certified Public Accountants (AICPA) members passing a rule mandating 150 hours of education for AICPA membership. The reaction to this rule was varied. Many state boards of accountancy and state legislatures adopted rules requiring 150 hours; however, the requirements for taking the CPA exam and licensure varied across states. After the rule's passage academicians responded by creating the Accounting Education Change Commission, whose purpose was to improve accounting education regardless of the number of credit hours students earned. Also, the AICPA shifted its attention to the possibility of expanding certification to practitioners who were not accountants. Both of these efforts were forestalled, and public attention shifted to the highly publicized accounting scandals of the 1990s. Efforts to reform accounting education since then have been led primarily by the National Association of State Boards of Accountancy (NASBA).

Synchronizing What We Teach With What Accountants Do: The Role of IMA in Closing the Gap

In 1984 the American Accounting Association appointed a prestigious committee to consider the future of accounting education. The committee's report (the Bedford Report) noted that while all professions change over time, the institutions that educate professionals frequently fail to evolve as rapidly as professional practice. The report concluded that the accounting profession is expanding, but the state of accounting education (in 1986) was inadequate to meet the needs of the expanding profession. One problem was the growing gap between what accountants do and what accounting educators teach. Following up on the Bedford Report, the Accounting Education Change Commission (AECC) issued several position statements in 1993. Statement Number 4 recommended that faculty members should acquire and maintain a high level of knowledge about both practice issues and the nonacademic accountant's workplace and that they should communicate their knowledge about conditions of practice to their students. Thus, about twenty years ago, the academic community recognized a problem and issued recommendations to address the problem. The problem identified in the Bedford Report in 1986 was recognized by the practicing profession a few years later. In the late 1980s and early 1990s, the Institute of Management Accountants (IMA) began hearing complaints from financial executives in companies of all size. The executives told IMA that entry level accountants were ill prepared for work. In 1994, IMA, to serve the interests of its members, made the decision to address the problem by conducting research that they could share with the academic community. IMA sponsored six research studies on management accounting practice, the latest, completed in 2006. Over the past 12 years, the results of this research was shared with the academic community in articles, postings on the IMA web site, and nearly 100 presentations at academic meetings. The purpose of this panel session is to stimulate discussion about the gap between what we teach and what accountants do on the job. Has the gap narrowed over the past 20 years? Has the AECC recommendation that faculty members should acquire and maintain a high level of knowledge about both practice issues and the nonacademic accountant's workplace and that they should communicate their knowledge about conditions of practice to their students been fulfilled? Why did IMA fund research on the profession over the past 12 years? To what extent have universities changed their accounting curricula or modified course content to better prepare students for work in a corporate setting?

The Influence of Effective Teaching in Accounting on Student Attitudes, Behavior, and Performance

In 1993 the School of Business at a large midwestern university established a task force to redesign its introductory accounting/business course. The task force shared many goals of the contemporaneous Accounting Education Change Commission, which addressed desirable attitudes and behaviors for the profession. Although approaches to knowledge and skill development are well understood at universities, much less is known about the impact of effective accounting education on student attitudes and behavior. After implementing instructional interventions, student attitudes and study skills improved significantly over one semester. The causal relationship of attitudes and behaviors was modeled using the Theory of Reasoned Action. Self-reported behaviors were validated by external ratings and course performance. Achievement attitudes were strongly and directly influenced by subjective norms. Our results reflect positively on the activities and procedures used to create normative influences within the class. In particular, the use of teaching assistants (TAs) as positive role models was substantiated. After implementing instructional interventions, student attitudes and study skills improved significantly over one semester. The causal relationship of attitudes and behaviors was modeled using the Theory of Reasoned Action. Self-reported behaviors were validated by external ratings and course performance. Achievement attitudes were strongly and directly influenced by subjective norms. Our results reflect positively on the activities and procedures used to create normative influences within the class. In particular, the use of teaching assistants (TAs) as positive role models was substantiated.

Enhancing student learning with governmental accounting jeopardy!

The Bedford Committee (1986) and the Accounting Education Change Commission (AECC, 1990) have strongly supported, along with practicing accountants, the use of innovative teaching techniques. Innovations involve active student participation and focus on development of critical thinking, communication, and technology skills. This paper extends prior research and describes how spreadsheet software is used to develop Jeopardy! boards to teach governmental accounting and enhance non-technical skills. Student survey results demonstrate support for use of a computer-based Jeopardy! game as a learning tool and a vehicle to self-assess learning. Written communication and teamwork skills are emphasized as students develop content in groups.

Adapting to the communication needs of business and accounting students in introductory communication textbooks: Meeting the objectives of the accounting education change commission and the profession

Adapting to the communication needs of business and accounting students in introductory communication textbooks: Meeting the objectives of the accounting education change commission and the profession

Integrating Technology and Business Process Analysis into Introductory Accounting Courses

INTRODUCTION The last decade brought tremendous changes in how business is conducted, in the U.S. and globally. The last decade similarly witnessed tectonic changes in the practice of accounting, worldwide. As a result, there have been several calls for change to accounting education. In the late 1980s and early 1990s the mission of the Accounting Education Change Commission was exactly that: to encourage and facilitate curriculum change. A plethora of subsequent surveys and studies culminating in Albrecht and Sack's (2000) seminal work Accounting Education: Charting the Course through a Perilous Future repeatedly pleaded for change or threatened market obsolescence. The AACSB, the premier business and accounting accreditation body, notably revised its standards also emphasizing mission-based strategic planning and energetic continuous curriculum improvement. As mentioned specifically in the Albrecht and Sack (2000) monograph, one area where the need for change is especially acute is incorporating information technology. It is in this area that we direct subsequent comments and analyses. Many universities have begun initiatives to implement changes to incorporate technology into their programs. For example, the SAP website identifies over 400 universities that have joined their university alliance program to help introduce Enterprise Resource Planning (ERP) software to their students. However, our experience shows that many universities have struggled with how to implement such major changes to their courses and curriculum--even some who have joined a software alliance. This is because change necessarily involves costs: financial costs and, most importantly, personal costs--and there are few guarantees of success. In the technology area, accounting faculty have observed the costs to be especially high and confidence in success, low. This is in part due to the fact that relatively few accounting faculty have an extensive background in technology, and thus change implies a personal investment in re-education and development for most--for which rewards are unclear. Given that the costs are potentially high, what can be done to reduce the costs? Reflect first that many of the costs have receded significantly over the last decade. In a recent study, Haistings et al. (2003) surveyed 150 accounting department chairs. No longer do these chairs score the following items as significant impediments to curriculum innovation in technology: Pedagogical Goals Technology Infrastructure Administration's Support Software Availability Economic Feasibility The remaining major impediment to technology integration in accounting curricula is lack of Faculty Expertise. There are too few technology-savvy faculty to carry the load, and there are equally few in-process currently in doctoral programs. In this environment, it becomes critical to use existing resources wisely, and not repeat mistakes of the past. A best-case scenario would find currently technology-savvy faculty working together to develop course materials that other non-, or less, technology-savvy faculty could deploy in classes. The costs are simply too high for each institution to have to go it alone and develop and frequently refresh course materials. Fortunately, University Alliances established by software vendors have removed some impediments to integrating technology into the curriculum. They all make the software available to Alliance universities, and in some cases the vendors even provide (or subsidize) technology infrastructure, both of which have reduced the costs of implementing major software products. Although these initial efforts allowed some schools to begin integrating IT, each institution tended to develop its own materials, at the cost of its faculty and staff. These efforts were significant, and so even some Alliance universities were unable to successfully integrate IT into their courses. …

Personality preferences of accounting students: a longitudinal case study

Abstract As the skills needed to succeed in accounting broaden, accounting programs must develop recruiting strategies to attract and retain individuals with a broader range of personality characteristics. As a form of recruitment evaluation, this study uses the Myers–Briggs Type Indicator (MBTI) to examine the characteristics of accounting students recruited into and retained by one of the original Accounting Education Change Commission (AECC) grant programs. Results indicate that, contrary to expectations, the personality types attracted to and retained in the program have not become more diverse over the course of 8 years. These results may imply that certain requisite preferences are needed to succeed in accounting or that homogeneity has benefits not previously considered. They certainly suggest a need to further refine recruiting processes, to focus on broader perceptions of the profession, to evaluate faculty's own preferences and biases and/or to develop curriculum to help students learn to utilize their less preferred personality traits.

Accounting History in Undergraduate Introductory Financial Accounting Courses: An Exploratory Study

The Accounting Education Change Commission (AECC) and others called for changes in the accounting curriculum and suggested that instructors bring accounting history into the classroom. In this study, the authors surveyed faculty at a sample of institutions to determine (a) which faculty members formally incorporated accounting history into the undergraduate introductory financial accounting class and (b) their opinions about the usefulness of incorporating accounting history into the course. Contrary to the AECC recommendations, the authors found that the respondents did not overwhelmingly support formally incorporating accounting history into undergraduate introductory financial accounting courses. They also discuss implications of their findings and suggest ways to encourage more instruction in accounting history.

The Role of Supplemental Instruction in the First Accounting Course

This study investigates empirically the role of supplemental instruction (SI) as a means of enhancing student performance in the first accounting course. SI is a proactive educational intervention program that targets traditionally “high-risk” courses and employs collaborative learning techniques emphasizing learning strategies and critical-thinking skills. This emphasis on “learning to learn” has been advocated by the Accounting Education Change Commission (AECC) as a goal of the first accounting course. ANCOVA-based results from 1,359 students in nine sessions of Principles of Accounting indicate that SI was effective at increasing academic performance; after controlling for self-selection bias, participation in both voluntary and mandatory SI sessions was found to be positively associated with the total points earned in the course. Additionally, a step pattern is observed in the increased performance for both the voluntary and mandatory attendance phases of the study, indicating that the level of SI attendance may play a role in the benefits obtained. The implications of this analysis for the accounting curriculum are addressed.