Interface Between Teaching/Research and Teaching/Practice

For many reasons, the impact of research on practice has been much too limited. One reason concerns the barriers to the acceptance in practice of research conclusions, such as: 1. inertia, 2. resistance to change, and 3. the need to accommodate in practice the views of various constituents. Another reason is the contention that a disproportionate amount of the accounting research focuses on matters that are not problems to practitioners. The problem of off-balance sheet financing was addressed over 10 years ago, and after extensive research, the problem not only continues to exist, but is of expanded significance. There is a need for the continued close relations between academics and practitioners, and the portion of class time spent on technical accounting issues should be reassessed. Educators should consider emphasizing the development of a foundation to reason, to identify the issues, to analyze the alternatives, and to resolve the conflicts.