The idea that knowledge acquisition and integration involve active participation is also
consistent with models in the accounting research literature. Libby and Luft (1993) suggest that
abilities and experiences result in an internal state of knowledge and that abilities and knowledge
together directly affect performance. Building on this model, Libby and Tan (1994) note, ‘‘a model
of performance is one where experience creates opportunities for the acquisition of knowledge,
while ability and effort determine the amount of knowledge acquired given that experience. This
acquired knowledge, along with ability and effort, then directly affects performance.’’