Challenges for accounting education at a crossroad in 2010

The higher education sector sets the foundation for a quality-driven accounting profession and is the cornerstone of future economic prosperity in Australia. However, with the present government setting ambitious degree qualification targets to be achieved by 2025, there are a number of important challenges for the higher education sector; and more specifically for accounting education. These include first, the low level of Commonwealth funding, per student place, for accounting and business students. This has placed pressure on universities to maximise international full-fee-paying business students. Second, the large classes in university business faculties with the highest student to staff ratios can result in undesirable, sub-optimal teaching and learning outcomes. Third, a key challenge is the ageing academic population. It is currently difficult for universities to fill vacancies in accounting and finance. There are many reasons including: low salary levels; large classes; heavy teaching and preparation loads; increased level of administration; limited time and support for research; and a career structure. These factors are all disincentives for individuals, who may otherwise have become accounting academics. The Institute of Chartered Accountants in Australia (the Institute) recognises the important role of accounting education and the potential cost to the accounting profession and the wider community – if accounting academics remain unheard. With this acknowledgement, I was proud to support the successful accounting education forum that was organised by The Centre for Accounting, Governance and Sustainability (CAGS), a research centre at the School of Commerce, University of South Australia and the Institute forum held on 4 February 2010. The purpose of this forum was to investigate contemporary challenges relating to accounting education, academia and the accounting profession in Australia. This current book will contribute to an ongoing dialogue between academics, the profession and public policy makers concerning the key challenges facing Australian accounting education in 2010 and the future. As part of the Institute's strategic objective, we will be investing in an accounting education strategy that will include support for academics in terms of research funding, participation in wider community debates and representation at the highest levels of government. The Institute has always held strong links with the academic community, embodied in our presence and ongoing sponsorship of the Accounting and Finance Association of Australia and New Zealand and we look forward to continued dialogue and debate in the near future. I commend the book's contributors for the detailed discussions on various aspects of Australian …

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