The Reversal of Abnormal Accruals and the Market Valuation of Earnings Surprises

This lecture explores what I submit is the relatively unchanging and unique-to-us core of accounting scholarship. I believe that we cannot depend on our history, the SEC, or tenure to guarantee our future prosperity as accounting professors. We must have value-adding knowledge that others cannot create and transfer better than we can. By focusing on our core competency, I hope to provide some insights into what is uniquely ours as accounting scholars (and has been for the past 40 years), what we must develop and maintain, and what we can release as unnecessary for our long-term prosperity.