Accounting and Accountability in the 21st Century University: Commodification and Entrepreneurship in a Global Market

Focus This study examines the proposition that the influence of accounting in the management of contemporary universities has increased its significance beyond strategic value to becoming a key facet of university management.... [ view full abstract ]

Focus
This study examines the proposition that the influence of accounting in the management of contemporary universities has increased its significance beyond strategic value to becoming a key facet of university management. This takes a practice perspective (Bjorkman et al, 2014).
Context
The idea of higher education as a commodity is now well recognised with the phenomenon of international markets in higher education (Oplatka, 2006). This business logic is changing the nature of the traditional approach to the management of universities, internationally (Palfreyman and Tapper, 2014). Indeed, business logic may supplant collegiality with new forms of entrepreneurial thinking (Parker, 2013).
Theory
This research is informed by a system of professions perspective (Abbott, 1988). The study of professions reveals a systematic process of acquiring and controlling knowledge which is subsequently exploited by professional groups. They also use their expertise to secure considerable autonomy in the exercise of their duties. These facets of professionalization are examined in relation to accounting expertise in universities.
Research Method
This study has a two stage research approach. In the first instance, archival material which discusses contemporary developments is assessed. This material is academics reflecting on academe – the study setting of this investigation. Secondly, two case studies of UK universities have been undertaken. One of these universities is a post 1992 `new` university. The other university is one of the UK ancient universities
Key Findings
This study reveals that universities are undergoing the experience of managerialism, which gives primacy to quantification, performance management and financial outcomes in the new corporate world of universities. The nature of, and emergence of, this brave new world for accountants is explored. Crucial antecedents of the significance of accounting in the contemporary university are the influence of global markets which commodify higher education and encourage entrepreneurial management in universities