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Dr. Wallace has received the Wildman Gold Medal awarded to the most significant literary contribution to the advancement of public accounting over a three-year period by the American Accounting Association (AAA) and Deloitte. She has been awarded a Certificate of Dist5inguished Performance on the Certified Management Accounting Examination and the Highest Achievement Award (Gold Medal) on the international certified Internal Auditor Examination. Dr. Wallace was selected in 1998 to receive the Virginia Society of CPAs Outstanding Accounting Educator Award in recognition of excellence in classroom teaching and for active involvement in the accounting profession. She is extremely active in the academic profession, currently serving on the editorial board for nine national and/or international journals and in the past serving as AAA Vice President, an officer in the AAA's Auditing Section, Chair of the AAA's Government and Nonprofit section, a member of the Board of Regents of The Institute of Internal Auditors, and Visiting Distinguished Faculty member of the Doctoral Consortium, New Faculty Consortium and Senior Faculty Consortium of the AAA. Dr. Wallace has been a visiting scholar at a number of domestic and international universities, including The University of Manchester in England and the Norwegian School of Economics and Business Administration in Bergen, Norway.

Dr. Wallace joined the Financial Accounting Standards Advisory Council (FASAC) that advises the Financial Accounting Standards Board (FASB) in 1991 and served through 1995. At the invitation of Charles A. Bowsher, then Comptroller General of the United States, Dr. Wallace served on the Government Auditing Standards Advisory Council from 1991 through 1996. Dr. Wallace consults with national and international firms, ensuring up-to-date appreciation of current practice problems. Previous expert testimony has involved a number of areas including: statistical sampling; statistical analysis; surveys; research methods; auditing; market competition; modeling and econometrics; systems and control processes; accounting; finance and valuation; distribution systems; intellectual property; economics; and business operations. Dr. Wallace has authored over 40 books and monographs, and over 200 articles in such journals as the Harvard Business  Review, European Management Journal, Accounting Review, Journal of Accounting research, Contemporary Accounting Research, CPA Journal, Government Finance Review, Financial Executive, Journal of Accounting, Auditing & Finance, Scandinavian Journal of Management, China Accounting and Finance Review, Accounting Today, and Wall Street Journal. In 1990, she was identified as he " Most Prolific Author in the Past decade (1979-88) in 24 academic accounting journals" ion the International Journal of Accounting.

Chapter 2. Resources Beyond the Financial Accounting Research System (FARS).

Chapter 3. Building Your Business Vocabulary: Defining Terms and Solving Problems Through FARS.

Chapter 4. Brain Teasers: Using FARS to Untangle the Mystery.

Chapter 5. Cases to Accompany FARS.