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  • March 2011
  • Article
  • Accounting Review

Accounting Scholarship That Advances Professional Knowledge and Practice

By: Robert S. Kaplan
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Abstract

Recent accounting scholarship has used statistical analysis on asset prices, financial reports and disclosures, laboratory experiments, and surveys of practice. The research has studied the interface among accounting information, capital markets, standard setters, and financial analysts and how managers make accounting choices. But as accounting scholars have focused on understanding how markets and users process accounting data, they have distanced themselves from the accounting process itself. Accounting scholarship has failed to address important measurement and valuation issues that have arisen in the past 40 years of practice. This gap is illustrated with missed opportunities in risk measurement and management and the estimation of the fair value of complex financial securities. The paper encourages accounting scholars to devote more resources to obtaining a fundamental understanding of contemporary and future practice and how analytic tools and contemporary advances in accounting and related disciplines can be deployed to improve the professional practice of accounting.

Keywords

Corporate Disclosure; Asset Pricing; Risk Management; Surveys; Capital Markets; Measurement and Metrics; Valuation; Fair Value Accounting; Management Analysis, Tools, and Techniques; Financial Reporting

Citation

Kaplan, Robert S. "Accounting Scholarship That Advances Professional Knowledge and Practice." Accounting Review 86, no. 2 (March 2011).
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About The Author

Robert S. Kaplan

Accounting and Management
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  • Comparison of COVID-19 Hospitalization Costs across Care Pathways: A Patient-level Time-driven Activity-based Costing Analysis in a Brazilian Hospital By: Ricardo Bertoglio Cardoso, Miriam Allein Zago Marcolino, Milena Soriano Marcolino, Camila Felix Fortis, Leila Beltrami Moreira, Ana Paula Coutinho, Nadine Oliveira Clausell, Junaid Nabi, Robert S. Kaplan, Ana Paula Beck da Silva Etges and Carisi Anne Polanczyk
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