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17勛圖夥厙 Accounting Tutor, Dr Max Yap, who recently completed his Doctor of Philosophy degree with the University of Otago, has had his PhD thesis, “Accounting for Economic Reality”, recognised as exceptional by the examiners, placing it amongst the top 10% of all theses ever examined at the university. The university’s criteria states that to have a thesis recognised as exceptional, examiners have assessed the Doctoral candidate’s research “as being of an exceptional standard in every respect – research quality, originality, quality of expression and accuracy of presentation”.

Dr Yap’s dissertation unpacks and picks apart the two major accounting schools of thought – the measurement school that frames accounting as a device to measure economic reality, just as a ruler measures length, and the information school, which conceptualises accounting as an information signal, just as a radio station broadcasts a radio signal. He concludes there are philosophical flaws inherent in both schools of thought and makes recommendations, including a proposed framework – a blockchain-based system – to secure the disclosure of intentions in an entity’s financial reporting.  

Dr Yap’s panel of examiners unanimously agreed on the exceptional character of his thesis, calling it timely and insightful. It addresses a gap in current knowledge in an area of Accounting - normative Accounting Theory - which “has been sorely neglected for many years”. He was also commended for his exceptional style of writing, and his ability to effectively communicate complex ideas in an accessible and engaging manner.  

Added to this, in the congratulatory letter, the Pro-Vice-Chancellor, Professor Maree Thyne also noted that on the recommendation of the examining panel, Dr Yap’s thesis would be placed on the university’s Commerce Divisional website as an example of an exceptional thesis.

Whilst completing the PhD has taken longer than expected, Dr Yap believes that it has been worth the outcome, and the recognition of his standard of work.

“First of all, I was very surprised at the outcome, the oral examination being as long and gruelling as it was... At a certain point, I was doubtful even of passing, because I was arguing against what was received wisdom,” he said, and expressed his appreciation and gratitude to the examiners, “for taking the time to engage thoroughly with what I was saying; we agreed what I was saying made sense and they concurred with me, even though I was going against the current train of thought.”

Originally from Singapore, Dr Yap moved to New Zealand in 2008. Acknowledging he’d always had an affinity for numbers, he recalls from a very young age doing the accounts with his father in their small family business. It was this natural aptitude for mathematics which led Dr Yap to train in accountancy; while he worked in Invercargill he gained his Accounting degree online.  

“The accounting department here [at SIT] is excellent,” he says, explaining the focus is on practical teaching, such as teaching and practising GST in the first year, as an example. “What we teach our students is directly related to work. Our people, when they graduate, they slot right into the workplace.”

Dr Yap says he utilises his PhD every day as a tutor.  “In teaching financial accounting, what’s the thinking that produces those numbers? My PhD is picking apart what makes them do that. Also, it’s railing against the forces that push accounting away from the real world.”

He explained there is a tendency within the accounting discipline to have the practice of accounting removed from real life, and challenging this type of thinking as he did in his PhD might be new. “Assumptions in accounting theory are made, but when you apply them in real life they fall apart.”

“It’s very important to me to understand why we do what we do. I say to my students, don’t just memorise formulas and textbooks, I want you to understand why you do what you do.” This advice is to help them develop critical thinking so they can ask the questions ‘why are we doing what we are doing,’ and ‘should we change what we’re doing?’ at every stage of their career, he explained.

“For me, it’s my professional duty to produce people who are competent at what they do, and to inculcate the right values to help my students thrive in their personal lives and in the workplace. I get a great deal of satisfaction from that.”

Head of Faculty, Hamish Small, described Dr Yap as an outstanding tutor within SIT’s School of Business and Management, and the level of his knowledge and expertise was displayed in his exceptional PhD result.  “Max keeps it real with regards to his delivery, hence his endeavour to provide the “whys” to students.  The whole of 17勛圖夥厙is very proud of Max, and we are very fortunate to have him on the team.”