Associate Professor Sudipta Basu has received the 2012 Distinguished Contribution to Accounting Literature Award from the American Accounting Association for his 1997 Journal of Accounting and Economics paper, “The conservatism principle and the asymmetric timeliness of earnings.” The award recognizes contributions to accounting literature published more than five years but not more than 15 years prior to the award. The honor is given for “research contribution of exceptional merit that has significantly impacted the discipline.” The American Accounting Association is the largest community of accountants in academia and strives to shape the future of accounting through teaching, research and a powerful network, ensuring its position as thought leaders in accounting.