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Forces for change in higher education and implications for the accounting academy

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  • Pincus, Karen V.
  • Stout, David E.
  • Sorensen, James E.
  • Stocks, Kevin D.
  • Lawson, Raef A.

Abstract

Accounting educators need to understand the forces for change in higher education, as well as the current state of accounting programs. Part I of this paper describes how financial and technology forces have combined to dramatically change the milieu of higher education. In terms of financial forces, we examine changing student demographics, the level of student debt, shrinking levels of governmental support, and philanthropic limitations. We conclude that the financial model that has served postsecondary education well for many years is now significantly strained. In terms of technology forces, we examine the growth of offshoring and automation of accounting/finance jobs; and a growing skills/competency gap, both in the general job market and in the accounting profession. Technology advances have transformed academic research and publishing, and have been incorporated into familiar ways of teaching. However, as yet, they have not significantly changed either what we teach (curriculum) or how we teach (pedagogy); changes in these areas may accompany future financial models. We provide examples of institutional responses to date and discuss the importance of strategic planning. Part II of this paper considers the implications for accounting academia. We report the results of a survey of accounting program leaders, including examples of recent curricular and faculty (staffing) changes. We recommend strong faculty involvement in change efforts, but also discuss simpler ways that faculty can get involved in efforts to face the forces for change. Concluding thoughts consider both the window of time to institute major change and ideas for future research.

Suggested Citation

  • Pincus, Karen V. & Stout, David E. & Sorensen, James E. & Stocks, Kevin D. & Lawson, Raef A., 2017. "Forces for change in higher education and implications for the accounting academy," Journal of Accounting Education, Elsevier, vol. 40(C), pages 1-18.
    • Handle: RePEc:eee:joaced:v:40:y:2017:i:c:p:1-18
    DOI: 10.1016/j.jaccedu.2017.06.001
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    8. Berry, Reanna & Routon, Wesley, 2020. "Soft skill change perceptions of accounting majors: Current practitioner views versus their own reality," Journal of Accounting Education, Elsevier, vol. 53(C).
    9. Carla Carvalho & Ana Carlos Almeida, 2022. "The Adequacy of Accounting Education in the Development of Transversal Skills Needed to Meet Market Demands," Sustainability, MDPI, vol. 14(10), pages 1-18, May.
    10. Bostwick, Eric D. & Grant, Dustin Micah & Lambert, Sherwood Lane & Lucas, Patrick & Prescott, Gregory L., 2023. "Updating the MAcc curriculum in response to stakeholder needs and CPA exam changes: Resources and results from one School’s journey," Journal of Accounting Education, Elsevier, vol. 64(C).
    11. Komarev, Iliya & Preobragenskaya, Galina, 2022. "A framework of market-relevant accounting competencies for the Gulf Cooperation countries (GCC)," Journal of Accounting Education, Elsevier, vol. 59(C).
    12. Apostolou, Barbara & Dorminey, Jack W. & Hassell, John M. & Hickey, Anna, 2019. "Accounting education literature review (2018)," Journal of Accounting Education, Elsevier, vol. 47(C), pages 1-27.
    13. Apostolou, Barbara & Dorminey, Jack W. & Hassell, John M. & Rebele, James E., 2018. "Accounting education literature review (2017)," Journal of Accounting Education, Elsevier, vol. 43(C), pages 1-23.
    14. Sarkar, Sumantra & Gray, Joy & Boss, Scott R. & Daly, Emmet, 2021. "Developing institutional skills for addressing big data: Experiences in implementation of AACSB Standard 5," Journal of Accounting Education, Elsevier, vol. 54(C).
    15. Lin Mei Tan & Fawzi Laswad, 2018. "Professional skills required of accountants: what do job advertisements tell us?," Accounting Education, Taylor & Francis Journals, vol. 27(4), pages 403-432, July.
    16. Hamood Mohammed Al-Hattami, 2021. "University Accounting Curriculum, IT, and Job Market Demands: Evidence From Yemen," SAGE Open, , vol. 11(2), pages 21582440211, April.
    17. Marshall, Thomas E. & Drum, Dawna & Morris, Steven & Lambert, Sherwood Lane, 2021. "Leveraging research within a pedagogical protocol for enhanced integrated-competency student learning," Journal of Accounting Education, Elsevier, vol. 56(C).

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