Stanford GSB Prof. Mary Barth told U. of Texas’ McCombs School of Business students they need to understand the fundamental accounting concepts because they provide the basis of the framework for financial reporting. She warned that in the future, accounting professionals will need to make judgments and understand “the why” behind a standard, rather than following thousands of specific rules as they do now.
At Stanford, Prof. Barth is the Joan E. Horngren Professor of Accounting and Robert and the Marilyn Jaedicke Faculty Fellow for 2009-2010. She is a former member of the International Accounting Standard Board (IASB).
- Includes audio interview
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