Tom Schaefer

KPMG Professor of Accountancy

Tom  Schaefer

Contact Information

Endowed Position

KPMG Professor in Accountancy


Professor Schaefer holds a Ph.D. in Accounting from the University of Illinois. He served as Chairman of the Department of Accountancy at the University of Notre Dame from 1998 to 2007. Professor Schaefer is a co-author of Advanced Accounting, 13th edition, a textbook on accounting for mergers and acquisitions published by Irwin/McGraw-Hill.

Areas of Expertise

Business Performance Measures

Financial Reporting

Business Combinations


BA, Northern Illinois University

MS, University of Illinois

Ph D, University of Illinois


"Using Rubrics to Assess Accounting Learning Goal Achievement", (with Jennifer Stevens), Issues in Accounting Education, 31, 2016.

"Asset Sales or Loans: The Case of Lehman Brothers' Repo 105s", (with Chao-Shin Liu), Accounting Educators' Journal, XXI, 2011.

"Analysts' Forecast Revisions and Firms' Research and Development Expenses", (with Jennifer Ho, Chao-Shin Liu), Review of Quantitative Finance and Accounting, 28, 2007.

"Accounting Conservatism and the Valuation of Accounting Numbers: Evidence on the Feltham-Ohlson (1996) Model", (with A. Ahmed, R. Morton), Journal of Accounting, Auditing, and Finance, 2000.

"Implications of Investment Opportunities for the Pricing of Earnings", (with J. Jones, R. Morton), Review of Quantitative Finance and Accounting, II, 2000.

"The Value-Relevance of SFAS No. 95 Cash Flows from Operations as Assessed by Security Returns", (with C. Cheng, C. Liu), Accounting Horizons, 1997.

"Earnings Permanence and the Incremental Information Content of Cash Flows from Operations", (with C. Cheng, C. Liu), Journal of Accounting Research, 1996.


"Advanced Accounting 12th ed", (with Hoyle, Doupnik), McGraw Hill Education, December 2013

"Advanced Accounting 11th edition", (with Hoyle, Doupnik), McGraw Hill-Irwin, 2012

"Advanced Accounting, 10th edition", (with Hoyle, Doupnik), McGraw/Irwin, 2010