Examining the Adequacy of International Accounting Coursework from the Perspectives of Students and Faculty

摘要

This research addressed the challenges that colleges and universities face in implementing adequate accounting and financial reporting training of International Accounting Standards. The research questions of the study were: Do college students and faculty similarly believe that undergraduate students are receiving adequate accounting coursework in the International Accounting Standards, so that they understand those standards, and: Are accounting students and faculty similarly familiar with the accounting standards' convergence process between the United States Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (ISAB)? The participants of the study included business and accounting faculty and students at a liberal arts college in the Midwest. The study investigated the responses between faculty and students to the issues of whether International Financial Reporting Standards (IFRS) training at the College was adequate, as perceived by the respondents. It also surveyed their level of awareness of the convergence process between U.S. Generally Accepted Accounting Principles and those promulgated by IFRS. The key findings of the study suggest that, while the responses to the survey questions by faculty and students are similar, the overall levels of perceived adequacy of IFRS training, and their awareness and appreciation for the U.S. GAAP/IFRS convergence process are relatively low. The study reveals that there are opportunities to leverage active learning strategies, such as situated learning, engage academic stakeholders in raising the level of IFRS training at colleges and universities, and increase awareness and appreciation for the convergence process.