What will be an interesting topic for a college research paper on accounting subject?

A great topic:-

The Estimated Replacement Value
Theory of Assets.

Bibliography: Professor Ray Chambers, writings on this subject.
Sydney University Accounting Professor.Australia.

1) Accounting is NOT an exact
science. It definitely is not.
It can be described as a science
of approximations.
2) No Balance Sheet is worth the paperit is printed on, if it values the assets at cost basis prices.
What is the alternative ?

Measuring accounting conservatism in emerging capital markets. Does the capital market matter?