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Thinking practice: Iteration, peer review, and policy analysis in a governmental accounting class

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  • Finley, Wayne
  • Waymire, Tammy R.

Abstract

All accounting graduates need strong critical thinking skills to succeed. However, possessing these critical thinking skills upon graduation is particularly crucial for new accountants working in the field of governmental accounting. As public servants at the local, state, and federal levels, they may face both short-term budget constraints and long-term sustainability concerns that cannot be solved with technical skills alone. Due to the proliferation of standards and technical practices across the accounting profession, governmental accounting educators may find it difficult to incorporate critical thinking instruction into their courses. In response to these concerns, this paper presents a project developed for inclusion in a governmental and nonprofit accounting course. Over the course of one semester, students choose a governmental policy topic of interest, conduct background research, evaluate the costs and benefits associated with a policy issue, and prepare recommendations in a written format addressed to the appropriate legislative committee. The project also incorporates review and iterative components that allow students to revise their written work based on feedback from the instructor and classmates. We report results of pre- and post-surveys that suggest that the project offers promise as a vehicle for promoting critical thinking skills among governmental accounting students.

Suggested Citation

  • Finley, Wayne & Waymire, Tammy R., 2013. "Thinking practice: Iteration, peer review, and policy analysis in a governmental accounting class," Journal of Accounting Education, Elsevier, vol. 31(3), pages 333-349.
    • Handle: RePEc:eee:joaced:v:31:y:2013:i:3:p:333-349
    DOI: 10.1016/j.jaccedu.2013.06.001
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    References listed on IDEAS

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    1. Irene Tempone & Elaine Martin, 2003. "Iteration between theory and practice as a pathway to developing generic skills in accounting," Accounting Education, Taylor & Francis Journals, vol. 12(3), pages 227-244.
    2. Tamara A. Lambert & Christopher P. Agoglia, 2011. "Closing the Loop: Review Process Factors Affecting Audit Staff Follow‐Through," Journal of Accounting Research, Wiley Blackwell, vol. 49(5), pages 1275-1306, December.
    3. Balasundaram Nimalathasan & Assoc. Prof. Ph.D Brabete Valeriu, 2010. "Association Between Critical,Creative Thinking And Problem Solving In Accounting Researches: An Overview," Revista Tinerilor Economisti (The Young Economists Journal), University of Craiova, Faculty of Economics and Business Administration, vol. 1(14), pages 7-12, April.
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    Cited by:

    1. Grimm, Stephanie Dehning & Blazovich, Janell L., 2016. "Developing student competencies: An integrated approach to a financial statement analysis project," Journal of Accounting Education, Elsevier, vol. 35(C), pages 69-101.
    2. McKinney, Earl & Yoos, Charles J. & Snead, Ken, 2017. "The need for ‘skeptical’ accountants in the era of Big Data," Journal of Accounting Education, Elsevier, vol. 38(C), pages 63-80.

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