The Future of International Accounting in the United States

Lindsay Van Der Wegen, “The Future of International Accounting in the United States”
Mentor: Veena Brown, Business
Oral Presentation Block 1

As many companies in the United States engage in international business practices, accountants need to understand a variety of international accounting topics; however, several accounting programs accredited by the Association to Advance Collegiate Schools of Business (AACSB) do not cover these topics. To understand the future of international accounting in the United States, we seek to better understand how practicing accountants believe international accounting is relevant to their careers. Furthermore, we seek to understand whether international accounting concepts should be included in accounting curriculums at U.S. universities. To investigate these concepts, we will be employing two methods of data collection. First, we will issue a field survey to practicing accountants in the United States to assess the relevance of international accounting in their careers. Second, we will gather information about international accounting coverage in AACSB accredited accounting programs through email communication and data collection on these programs’ websites. Preliminary results from our pilot study indicate a lack of coverage of international accounting topics in most AACSB accredited accounting programs. Survey responses indicate that practicing accountants believe graduate accounting students do not have adequate working knowledge of international accounting. Furthermore, most of these practicing accountants believe that international accounting topics are important to be covered on the Certified Public Accountant (CPA) and Certified Management Accountant (CMA) exams. They also believe that the need for International Financial Reporting Standards (IFRS) knowledge has increased over time. These preliminary results support a conclusion that university curriculums and training programs should adapt to emphasize the importance of international accounting knowledge in accounting careers. This adaptation will better prepare students and benefit the accounting profession by developing practitioners who are well-versed in international accounting topics.