On Tuesday, Nov 17th, 4 pm ET, we will be joined by Susan Krische (University of Illinois at Urbana-Champaign).  Susan recently returned from an academic fellowship with the Office of the Chief Accountant at the Securities and Exchange Commission.  In light of her experience at the SEC, Susan will be leading a discussion on how to bridge the gap between accounting practice and scholarship.  To get a preview of Susan’s thoughts and recommendations, see this preliminary draft of her working paper, which she has kindly agreed to share with us.

The abstract of her paper reads:

“This paper helps bridge accounting practice and scholarship by identifying issues for consideration, and potential actions that could be taken, by individuals within the accounting academic community interested in better communicating the relevance of our academic research to accounting standard setters and regulators.  I present an optimistic view that there is ample accounting research of potential interest to standard setters and regulators.  However, the rigorous methodological standards to which we hold ourselves as academics make it unlikely that we can identify research ideas based on current regulatory agendas and reasonably expect the research to be sufficiently developed in time to impact the motivating debate.  Ideally, we would try to anticipate problems and issues that are in the process of developing based on a rich understanding of the underlying practice area rather than in reaction to current agendas. In order for the research to be valued, though, we as academics need to more effortfully communicate relevant research insights on an on-going basis through, for example, ‘review’ articles, ‘practice’ articles and presentations, and comment letters.  Lastly, I believe that it is critical to nurture an awareness of academic research and its potential as we educate future generations of accounting practitioners.”

Susan’s paper is quite timely for a number of reasons and follows up nicely on our most recent Round Table, during which Stephen Penman gave a strong endorsement in favor of policy oriented research.  On this matter, I am in complete agreement with Stephen.  He also mentioned that the Center for Excellence in Accounting and Security Analysis (CEASA) supports policy oriented research by soliciting and sponsoring white papers and invited interested researchers to contact him.

On one other related note, the FASB is currently taking applications for the 2010-11 Research Fellowship.  For more information, check out this post, or just contact me directly.

I hope you will join us on Tuesday for Susan’s discussion, and remember that you can attend Round Table Discussions in Second Life (instructions here) or on the web at our LIVE page.