The increasing shortage of accounting faculty in the

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1 Transitioning from Practice to Academia: Examining the Interest of Accountants By Douglas M. Boyle, DBA, CMA, CPA; Brian W. Carpenter, Ph.D., CMA; Dana R. Hermanson, Ph.D.; and Michael O. Mensah, Ph.D. EXECUTIVE SUMMARY What will it take to get more accounting professionals in business interested in teaching part time or full time? The authors present results of their survey of management accountants and offer some advice and resources to help potential professors make a decision. This article is based on a study funded by the IMA Research Foundation. The increasing shortage of accounting faculty in the United States is a topic of great concern to the accounting profession and academia. For academia, there is a gulf between the demand for and supply of qualified accounting faculty that is making it difficult to staff accounting departments with academically qualified educators. 1 For practitioners, the inability of accounting departments to properly fill their vacancies threatens the profession s desire to attract larger numbers of highly educated entry-level accountants to the profession. In 2007, IMA (Institute of Management Accountants) and the Association of Government Accountants (AGA) created a joint task force that determined the accounting faculty shortage is a complex problem with multiple causes and called for further examination of the current model the profession uses to produce qualified accounting faculty. 2 Similarly, in 2008, the U.S. Treasury Department s Advisory Committee on the Auditing Profession (ACAP) called for further research to identify the causes of the shortage and determine actions to remedy it. 3 Studies by the Association to Advance Collegiate Schools of Business (AACSB) also projected that the shortage in full-time academically qualified faculty will reach critical levels in the near term and called for both academia and practice to take action to resolve the issue. 4 In addition, other studies have reinforced these observations and have noted the M A N A G E M E N T A C C O U N T I N G Q U A R T E R L Y 1 F A L L , V O L. 1 5, N O. 1

2 need for further investigation. 5 It has become obvious that the accounting faculty shortage poses a threat that requires additional research to more clearly identify its causes and potential solutions. Given the likelihood of increased demand for business school education and accounting professionals, the solution to resolving the faculty shortage must focus primarily on increasing the number of qualified faculty. One promising source of future accounting faculty might be found in the pool of practicing accountants. This pool is so large that academia would need to attract only a small fraction to lessen the current and expected shortage significantly. Much activity to attract practitioners into academia has taken place already through the traditional doctoral program model. An example of this effort includes the Accounting Doctoral Scholars Program (ADS), which provides ongoing financial support to select auditing and tax practitioners to enable them to pursue terminal degrees (the highest degree in a field of study) and transition into academic careers. The number of practitioners transitioning into academia through these existing support programs, however, falls far short of the number needed to significantly reduce the current and anticipated shortage of required faculty. In addition, these programs tend to target accounting professionals in public accounting who are in the earlier stages of their career. Yet the shortage provides career opportunities for those outside public accounting and at later career stages, so it is important to include these practitioner groups in those targeted for potential transitions to academic careers. Recently, the American Accounting Association (AAA) and the American Institute of Certified Public Accountants (AICPA) formed the Pathways Commission to study the future structure of higher education for the accounting profession and develop recommendations for educational pathways to engage and retain the strongest possible community of students, academics, practitioners, and other knowledgeable leaders in the practice and study of accounting. 6 It released a report, Charting a National Strategy for the Next Generation of Accountants, in July 2012 that makes recommendations to reverse the shortage while exploring it further. The first recommendation identifies accounting practitioners as one of the key players in the educational process. Objective 1.1 states: Integrate professionally orientated faculty more fully into significant aspects of accounting education, programs and research. The study s second recommendation calls for developing and delivering doctoral education in a manner that would be more attractive to practitioners. The recommendation also includes the following objectives: Allow flexible content and structure for doctoral programs (Objective 2.1), and Develop multiple pathways to terminal degrees in accounting (Objective 2.2). These recommendations and objectives highlight the important role practitioners should fulfill in the accounting educational process and suggest remedies that could enable interested professionals to pursue the terminal degrees required for entrance into academia (for accountants, usually a doctorate). The resulting potential increase in professionals transitioning into academia could serve as a critical source of new faculty that could significantly mitigate the ever-increasing shortage of accounting faculty. To put these recommendations in place, however, additional research needs to gauge more fully the potential interest of practitioners in making such a transition. This research could discover the relevant factors that could increase the number of practitioners who are willing and able to make this transition. Our study responds to the Pathways Commission s call to further explore current and potentially alternative paths to educate qualified accounting faculty. The IMA Research Foundation provided a financial grant and access to IMA members for the purposes of our survey. The May 2013 issue of Strategic Finance featured a subset of the results to inform readers about the shortage and some opportunities that arise from it. This article, however, emphasizes the factors that attract practitioners into academia or dissuade them from it, as well as the related factors practitioners believe to be associated with excelling in an academic career. We hope this information will increase practice-to-academia transitions. To facilitate our examination, we surveyed IMA members to ascertain their awareness of the shortage, level of interest in pursuing academic careers, concerns about potential transitional issues, and beliefs regarding M A N A G E M E N T A C C O U N T I N G Q U A R T E R L Y 2 F A L L , V O L. 1 5, N O. 1

3 the factors and accomplishments associated with effective accounting education. As the Pathways Commission and others have noted, engaging practitioners in this discussion is critical, so we will describe the survey, key findings, and conclusions for both practice and academia to consider. Our study s findings make it clear that practitioners current level of awareness about academic career opportunities requires increased communication of the problem, opportunities, and steps to make such a transition feasible. The results also reveal that practitioners who currently teach in some capacity largely have found the experience to be rewarding and are significantly more likely to pursue a full-time teaching career than practitioners who have no teaching experience. Thus, practitioners who believe they may enjoy pursuing a teaching career may find this feedback instructive, and we hope they will be encouraged to pursue part-time teaching opportunities so they can experience the classroom part of the academic s life before committing to a full-time academic career. Additionally, practitioners significantly understate the compensation of newly hired terminally qualified professors. A better awareness of the compensation may encourage more transitions into academia because practitioners would see the move as more economically attractive and feasible. Finally, the study contains feedback on the perceived benefits of and barriers to pursuing a career in academia. This information gives practitioners factors to consider when contemplating a career change and when planning such a transition. Accounting academics should find significant value in understanding the perceptions of practitioners on this topic to better inform, educate, recruit, and support those practitioners considering a career change. The Survey IMA ed 9,844 of its U.S.-based members, inviting them to participate in the survey. We selected this sample from all job titles and profile types except retired and academic members. The first request, which included an invitation and a link to the online survey, was sent in September A follow-up request went out in October Of the 9,844 surveys distributed, 231 were completed, which resulted in a response rate of a little more than 2%. According to IMA, this is consistent with previous membership surveys. A few respondents skipped a question or said a question was not applicable, so the number of responses to a question sometimes is just less than 231. The survey assessed participants perceptions of the magnitude of the faculty shortage, their interest in pursuing an academic career and teaching in various capacities, what factors increase or decrease the attractiveness of pursuing such a career, and what factors and accomplishments they believe are associated with excellence as a professor. In addition, the survey captured participants level of support to create nationally accredited accounting doctoral programs that are more conducive to those who want to study on a parttime basis, as well as their perceptions of the likely quality of such programs. Finally, the survey also included demographic questions to assess the personal and company demographics of the participants. Demographic Summary As Table 1 illustrates, 18% of the participants have teaching experience in accounting at the college or university level. A slight majority (56%) are male, with a clear majority (79%) being married. The participants have a high degree of professional experience as more than 80% of them have 11 or more years of such experience. The vast majority of the participants (74%) have some type of professional certification most possess the CMA (Certified Management Accountant) designation and 59% hold a master s degree. The company demographics in Table 2 show that participants work within numerous business segments. For-profit private companies and public companies represent the largest segments of the sample at 40% and 29% of the total, respectively. In addition, the participants work in companies of varying sizes, with more than 40% working for companies with more than $500 million of revenue. Key Findings The following sections present key results. In selected instances, we identify statistically significant differences between survey respondents. For example, respondents M A N A G E M E N T A C C O U N T I N G Q U A R T E R L Y 3 F A L L , V O L. 1 5, N O. 1

4 Table 1: Participant Demographics (n = 231 total respondents) Taught in accounting at college/university level 18% Male 56% Currently married 79% Responses % Total years of business experience < 5 years 10 4% 5 to % 11 to % > 20 years % Professional certifications Yes (primarily CMA and CPA) % No certifications 61 26% Educational status Bachelor s degree 94 41% Master s degree % Note: Throughout the tables, the number of responses to a question sometimes is less than 231 because of a few respondents skipping a question or a question not being applicable. with prior teaching experience are likely to have much greater knowledge of the university environment. Those with advanced degrees may have a greater interest in pursuing additional education and have a lower educational hurdle to jump to move into an academic career because they already have a master s degree. Awareness of the Shortage The survey participants have some level of awareness that a shortage of accounting faculty exists within the United States. When asked to provide their perception of the balance between the supply of accounting faculty holding a doctoral degree and the demand for such faculty at U.S. colleges and universities, the participants had a mean score of 41.3 (0 indicating that demand significantly exceeds supply [too few faculty], 50 indicating that supply and demand are equal, and 100 indicating supply significantly exceeds demand [too many faculty]). While this result indicates some modest degree of participant awareness of the shortage, it suggests that practitioners do not fully appreciate the critical nature of the shortage. Table 2: Participant Company Demographics Responses % Business segment Public accounting 11 5% Public company 66 29% Private for-profit company 94 40% Not-for-profit 26 11% Consulting, government, other 35 15% Revenue of employer $0 to $100 million % $101 million to $500 million 34 15% > $500 million 93 41% M A N A G E M E N T A C C O U N T I N G Q U A R T E R L Y 4 F A L L , V O L. 1 5, N O. 1

5 Table 3: Current Level of Interest in Teaching Part Time or Full Time (0 = low interest to 100 = high interest) Part-Time Mean Full-Time Mean All Participants Previously taught Yes 82.0* 49.2* No 47.5* 24.5* Educational status Bachelor s degree 42.8* 22.8* Master s degree 61.1* 33.2* * Difference between groups (i.e., those who have taught vs. those who have not, or bachelor s degree vs. master s degree) is statistically significant (p < 0.05). Interest in Teaching Part Time or Full Time As Table 3 shows, participants indicate a moderate level of interest in teaching part time (with a mean score of 53.6 on a 0 [low interest] to 100 [high interest] scale). Prior teaching experience and the possession of advanced degrees are statistically related to interest in parttime teaching (p < 0.01). This result suggests that participants with prior teaching experience are significantly more interested in teaching on a part-time basis. The associated means for these two groups were 82.0 for the group with teaching experience and 47.5 for the group without teaching experience. Similarly, respondents possessing advanced degrees express significantly more interest in part-time teaching. The associated means for these two groups were 61.1 for those with advanced degrees and 42.8 for those without such degrees. Overall, the mean score for the participants interested in full-time teaching is 28.9, which shows a much lower level of interest. Closer analysis, however, reveals that 16.5% of the participants indicate a fairly high degree of interest (defined as a score of 70 or above), and 28.3% indicate at least a moderate degree of interest (defined as a score of 50 or above). This finding is significant because of the vast size of the pool of practicing accountants. For example, according to their websites, there are currently more than 65,000 IMA members and more than 394,000 AICPA members. To impact the faculty shortage significantly, only a small fraction of these practitioners would need to pursue full-time teaching. As was the case for interest in part-time teaching, previous teaching experience was a statistically significant factor related to interest in full-time teaching (p < 0.01). Those with prior teaching experience had a mean of 49.2, as compared to a mean of 24.5 for the group without such experience. In addition, those with master s degrees are significantly more interested in full-time teaching, mean of 33.2, than those without such degrees, mean of 22.8 (p = 0.02). We asked participants what factors increase their interest in pursuing a full-time career as an accounting professor. The survey used a seven-point scale with 1 representing does not increase participant s interest, 4 representing moderately increases participant s interest, and 7 representing significantly increases participant s interest. Flexibility in work schedule in academia (5.4), satisfaction from helping students (5.3), and participating in developing the profession through educating young professionals (4.9) are the top three factors. Opportunities to conduct academic research (3.3) and do consulting (4.2) are the lowest factors. In addition, participants indicated what factors decrease their interest in pursuing a full-time career as an accounting professor. The top factors include the time associated with pursuing a doctoral degree (6.0), the financial cost associated with pursuing a doctoral degree (5.9), and concerns about differences in compensation between industry and academia (4.5). Need for more practical experience before one could teach (2.9), concerns about working in an academic environment (3.0), concerns about being an effective teacher (3.1), and challenges associated with managing students (3.2) are the lowest factors. M A N A G E M E N T A C C O U N T I N G Q U A R T E R L Y 5 F A L L , V O L. 1 5, N O. 1

6 Value of Attracting Practitioners to Academia The participants place a high degree of value on attracting accounting practitioners into doctoral programs. On a scale of 0 to 100 (0 representing low value, 50 representing moderate value, and 100 representing high value), the participants overall mean response is Previous teaching experience is a statistically significant factor, with the experienced group having a mean of 75.2 compared to a mean of 65.2 for those without teaching experience (p = 0.01). Pursuing a Doctoral Degree Full Time We asked participants to indicate their likelihood of pursuing a doctoral degree on a full-time basis and how much annual financial support they would need to make such a transition. Overall, they indicate a very low likelihood of pursuing a doctoral degree full time (with a mean score of 13.4 on a scale of 0 [low likelihood] to 100 [high likelihood]). Only 3.9% of the participants indicate a score of 70 or above, and 8.3% indicate a score of 50 or above. Those with advanced degrees indicate a mean of 15.9, which is significantly different from those with no advanced degree, with a mean of 9.6 (p = 0.01). To pursue a doctoral degree on a full-time basis, participants indicate that they would need an average of approximately $64,000 of annual support. Support for Part-Time Doctoral Programs The survey participants indicate their support for creating nationally accredited accounting doctoral programs that are more conducive to those who want to study on a part-time basis. They strongly support such a program based on a 70.4 mean score on a scale of 0 to 100 (0 representing low support, 50 representing moderate support, and 100 representing high support). Those who had prior teaching experience, a mean of 80.9, are significantly different from those with no teaching experience, a mean of 68.1 (p < 0.01). We also asked how they view the likely quality of these nationally accredited part-time accounting doctoral programs that admit experienced executives, as compared to traditional nationally accredited full-time doctoral programs. The scale was 0 to 100 (0 representing significantly lower quality, 50 representing same quality, and 100 representing significantly higher quality). With a mean score of 69.5, participants indicate such a part-time program would be of higher quality than a traditional full-time program. The mean score for participants who had previous teaching experience is 77.0, which significantly exceeds the mean score of 68.0 for those with no teaching experience (p = 0.01). With a mean score of 68.8, respondents express similarly supportive views for nationally accredited distancelearning doctoral degree programs. The mean score for participants who had prior teaching experience is 77.0, which significantly exceeded the mean score of 67.0 for those with no teaching experience (p = 0.02). Pursuing a Doctoral Degree Part Time The participants also indicate their likelihood of pursuing a doctoral degree on a part-time basis. Overall, they indicate a relatively low likelihood (with a mean score of 31.5 on a scale of 0 [low likelihood] to 100 [high likelihood]). On the other hand, 13.8% indicate a high likelihood (scoring 70 or higher), and 28.1% indicate at least a moderate likelihood (scoring 50 or higher). Those who have prior teaching experience, with a mean of 51.0, are significantly different from those with no teaching experience, with a mean of 27.1 (p < 0.01). In addition, participants who hold advanced degrees, with a mean of 37.7, are significantly different from those with no advanced degree, with a mean of 22.4 (p < 0.01). Attributes and Skills Associated with Excellence as an Accounting Professor What skills and attributes are associated with excellence as an accounting professor? Participants responded using a seven-point scale (1 representing low association, 4 representing moderate association, and 7 representing high association). As Table 4 shows, the top five skills and attributes are verbal communication skills (6.5), ethical foundation (6.4), work ethic (6.3), intelligence (6.1), and organizational skills (6.0). Research skills (4.6) and ability to empathize (5.1) received the lowest scores from the participants. We also asked respondents what accomplishments they perceive are associated with excellence as an accounting professor. Table 5 indicates that significant experience as a practitioner (6.3), possession of profes- M A N A G E M E N T A C C O U N T I N G Q U A R T E R L Y 6 F A L L , V O L. 1 5, N O. 1

7 Table 4: Skills/Attributes Associated with Excellence as an Accounting Professor (1 = low association with excellence to 7 = high association with excellence) Skills/Attributes Mean Verbal communication skills 6.5 Ethical foundation 6.4 Work ethic 6.3 Intelligence 6.1 Organizational skills 6.0 Writing skills 5.5 Ability to empathize 5.1 Research skills 4.6 sional certifications (5.8), and a consistent record of positive teaching evaluations (5.5) are the top three factors. Success as a researcher (3.8) and possession of a doctoral degree (4.1) are the lowest-scoring accomplishments that respondents perceived to be associated with excellence as an accounting professor. Average Assistant Professor Base Salary When asked about the average base salary per academic year for an assistant professor of accounting at a nationally accredited university, 26% responded with $71,000 to $80,000, and 82% indicated $51,000 to $100,000. The reported average incoming salary for 2011, however, was $127,600, which is significantly higher than most participants perceived. 7 A Small Percentage Would Make a Big Impact The study indicates that practitioners potentially could represent an important source of new accounting faculty and that a meaningful number of them may be interested in teaching on a part-time basis. Furthermore, it suggests that while the percentage of those expressing interest in full-time teaching is relatively small, the vast size of the pool of accounting practitioners potentially could yield enough interested individuals to significantly address the shortage of full-time faculty. In addition, an encouraging finding is that practitioners who have taught are much more interested in pursuing a full-time career in academia, which demonstrates their satisfaction with the experience. In addition, practitioners significantly underestimated the compensation in Table 5: Accomplishments Associated with Excellence as an Accounting Professor (1 = low association with excellence to 7 = high association with excellence) Accomplishments Mean Significant experience as a practitioner (i.e., eight years in public, private, 6.3 or governmental accounting) Possession of professional certification (i.e., CPA, CMA, CIA, CFE) 5.8 Consistent record of positive teaching evaluations 5.5 Receipt of teaching awards 4.2 Possession of doctoral degree 4.1 Success as a researcher 3.8 M A N A G E M E N T A C C O U N T I N G Q U A R T E R L Y 7 F A L L , V O L. 1 5, N O. 1

8 academia, so knowing actual compensation levels may make transitioning into an academic career more economically attractive and feasible. Accordingly, it would seem that efforts to help turn practitioner interest into action are well placed. Some of the more specific results provide additional insights that may prove important in educating practitioners on the topic and developing strategies to help increase the number of them transitioning into academia. Although they indicate an awareness of some degree of faculty shortage, they might not fully realize its critical nature. As noted, they express a moderate degree of interest in teaching on a part-time basis. Of these, participants who have prior teaching experience or who hold a master s degree are significantly more likely to express such interest. The overall interest expressed in teaching on a fulltime basis is relatively low, but given the vast number of practicing accountants, even a small percentage of this population would have a significant impact on the faculty shortage. The study s results suggest that there are indeed enough practitioners expressing moderate or high interest to have such an impact. Those with prior teaching experience or advanced degrees are significantly more interested in full-time teaching. Should You Make a Career Change? In order to fully tap this potential source of future faculty members, it is important to understand the perceived incentives of and obstacles to such a transition. Our study identified many factors and revealed several useful findings. These factors are important for practitioners to consider when contemplating a potential career change into academia and are critical for academics to understand in order to attract such practitioners. The top three factors that increase a participant s interest in pursuing a full-time career in academia are flexibility in the work schedule, satisfaction from helping students, and developing the profession through educating young professionals. The lowest factors include opportunities to perform academic research and consulting opportunities. Top factors that decrease a participant s interest in pursuing a full-time career in academia are the time associated with pursuing a doctoral degree, cost associated with pursuing a doctoral degree, and concerns about differences in compensation between industry and academia. The lowest factors include the need for more practical experience before one could teach and concerns about working in an academic environment. It seems clear that participants believe the experience of seasoned executives would be an important factor in their value to academia. They also believe there is a high degree of value in attracting accounting practitioners into doctoral programs and strongly support creating nationally accredited part-time and distancelearning accounting doctoral programs that admit such seasoned executives. They view the potential quality of such part-time programs to be very high. The participants indicate a very low likelihood of pursuing a doctoral degree on a full-time basis and would require significant financial support to do so. Overall, participants also indicate a low likelihood of pursuing a doctoral degree on a part-time basis. Yet a large-enough number of them have a high or moderate interest in pursuing a doctorate to indicate that this pool could potentially provide significant relief for the growing shortage of faculty. Certain practitioners are more likely to express an interest in the possibility of transitioning to academia via a part-time doctorate: those with prior teaching experience and/or advanced degrees. The participants list verbal communication skills, ethical foundation, work ethic, intelligence, and organizational skills as the factors associated most closely with excellence as an accounting professor. They view research skills and an ability to empathize as being less important factors. The respondents also associate the following with excellence as an accounting professor: significant experience as a practitioner, possession of professional certifications, and a consistent record of positive teaching evaluations. Success as a researcher and the possession of a doctoral degree are seen as lowerlevel accomplishments associated with excellence. These results underscore the value that practitioners believe their experience would have in academia but also reveal a possible lack of appreciation regarding the importance of research in academia and, in turn, the importance of doctoral education in developing the skills necessary to conduct this research. An increased awareness of these factors can better inform practitioners con- M A N A G E M E N T A C C O U N T I N G Q U A R T E R L Y 8 F A L L , V O L. 1 5, N O. 1

9 sidering a transition to the academic world. While practitioners will welcome the high value that academia places on the experience they bring to the classroom, the results of this study indicate that practitioners may need to become more knowledgeable about the role that research plays in most academic positions. Accordingly, practitioners contemplating a career switch to academia may benefit from reviewing summaries of the accounting academic literature to gain a better understanding of the nature of accounting research. They could also benefit from examining the curricular requirements of various doctoral programs to gain a better understanding of the nature of doctoral education. Finally, practitioners interested in understanding more about careers in academia have several resources they may consult to make a more informed decision and enable a smoother transition. Here are a few: The AACSB s Salary Survey Reports provide useful information on compensation ( datareports/ salarysurvey/ pdf). The AACSB Bridge Program, a five-day program that provides information and training on how to move from practice into the classroom ( An article by Brooke Beyer, Don Herrmann, Gary Meek, and Eric Rapley, What It Means to be an Accounting Professor: A Concise Career Guide for Doctoral Students in Accounting, appeared in the May 2010 edition of Issues in Accounting Education and provides insights for current and potential doctoral students ( / iace ). An article by Carol Bishop, Douglas Boyle, Richard Clune, and Dana Hermanson, A Different Model for Doctoral Education in Accounting and Auditing: Student and Faculty Reflections, appeared in the June 2012 edition of Current Issues in Auditing and provides insights from practitioners who successfully made the transition from practice into academia ( An article by Randy Myers, Teaching for the Love of It, appeared in the June 2006 issue of Journal of Accountancy and includes the transition stories of eight practitioners and helpful steps to consider when planning to make a career change from practice to academia ( Issues/2006/Jun/TeachingForTheLoveOfIt.htm). An article by the American Accounting Association Research Impact Task Force, The Impact of Academic Accounting Research on Professional Practice: An Analysis by the AAA Research Impact Task Force, appeared in Accounting Horizons in December 2009 and examines the effects of academic accounting research on various areas of accounting practice ( acch ). It summarizes academic research and helps practitioners appreciate the linkages between academic research and accounting practice. It is time to do even more to encourage accounting practitioners to become accounting faculty. Douglas M. Boyle, DBA, CMA, CPA, is an assistant professor and department director of accounting at the University of Scranton in Scranton, Pa., and an IMA Member at Large. You can reach Douglas at (570) or douglas.boyle@scranton.edu. Brian W. Carpenter, Ph.D., CMA, is a professor of accounting at the University of Scranton and a member of IMA s Pennsylvania Northeast Chapter. You can reach Brian at (570) or brian.carpenter@scranton.edu. Dana R. Hermanson, Ph.D., is the Dinos Eminent Scholar Chair of Private Enterprise and an accounting professor at Kennesaw State University in Kennesaw, Ga. He also is a member of IMA s Atlanta Chapter. You can reach Dana at (770) or dhermans@kennesaw.edu. Michael O. Mensah, Ph.D., is the dean of the Kania School of Management at the University of Scranton. You can reach Michael at (570) or michael.mensah@scranton.edu. Endnotes 1 David W. Leslie, Accounting Faculty in U.S. Colleges and Universities: Status and Trends, , American Accounting Association, Sarasota, Fla., 2008; and R. David Plumlee, Steven J. Kachelmeier, Silvia A. Madeo, Jamie H. Pratt, and George Krull, Assessing the Shortage of Accounting Faculty, Issues in Accounting Education, May 2006, pp M A N A G E M E N T A C C O U N T I N G Q U A R T E R L Y 9 F A L L , V O L. 1 5, N O. 1

10 2 Paul A. Sharman, The Ph.D. Shortage, Strategic Finance, April 2007, p Advisory Committee on the Auditing Profession (ACAP), Final Report of the Advisory Committee of the Auditing Profession to the U.S. Department of the Treasury, Washington, D.C., The Department of the Treasury, Available at url: about/organizational-structure/ offices/documents/finalreport.pdf. 4 Association to Advance Collegiate Schools of Business International (AACSB), Management Education at Risk, AACSB, St. Louis, Mo., 2002; Sustaining Scholarship in Business Schools, AACSB, St. Louis, Mo., 2003; and U.S. Salary Survey Reports, AACSB, Tampa, Fla., Bruce K. Behn, Gregory A. Carnes, George W. Krull Jr., Kevin D. Stocks, and Phillip M.J. Reckers, Accounting Doctoral Education 2007: A Report of the Joint AAA/APLG/FSA Doctoral Education Committee, Issues in Accounting Education, August 2008, pp ; Brooke Beyer, Don Herrmann, Gary K. Meek, and Eric T. Rapley, What It Means to Be an Accounting Professor: A Concise Career Guide for Doctoral Students in Accounting, Issues in Accounting Education, May 2010, pp ; Douglas M. Boyle, Dana R. Hermanson, and Michael O. Mensah, Addressing the Accounting and Auditing Faculty Shortage: Practitioners Perceptions of Academia, Current Issues in Auditing, June 2011, pp. A70 A85; Joseph V. Carcello, Human Capital Challenges Facing the Public Company Auditing Profession, Current Issues in Auditing, June 2008, pp. C1 C12; P. Douglas Marshall, Robert F. Dombrowski, and R. Michael Garner, An Examination of Alternative Sources of Doctoral Accounting Faculty, Journal of Education for Business, September/October 2006, pp ; Michael J. Meyer and Pierre L. Titard, Those Who Can Teach, Journal of Accountancy, July 2000, pp ; Michael J. Ruff, Jay C. Thibodeau, and Jean C. Bedard, A Profession s Response to a Looming Shortage: Closing the Gap in the Supply of Accounting Faculty, Journal of Accountancy, March 2009, pp ; and Jerry E. Trapnell, Neal Mero, Jan R. Williams, and George W. Krull Jr., The Accounting Doctoral Shortage: Time for a New Model, Issues in Accounting Education, November 2009, pp The Pathways Commission, Charting a National Strategy for the Next Generation of Accountants, AAA, July 2012, aaahq.org/ posts/a3470e7ffa. 7 AACSB, U.S. Salary Survey Report, M A N A G E M E N T A C C O U N T I N G Q U A R T E R L Y 10 F A L L , V O L. 1 5, N O. 1