In Outlook for Windows there is an option where one can right-click on the sorting fields and add/remove items from Field Chooser such as Date Received, To, Sent, Category etc.  

This is a great tool for sorting / viewing emails. This functionality is critical when one deals with numerous emails received/sent each day and wanting to access them later.  

The same functionality does not seem to exist in Outlook 2011 for Mac.  Is this the case or am I missing something? If not then, is there a way to work around it please?  

I would say the above and the lack of Format Painter are two key functionalities missing in Outlook and it is disappointing if Microsoft does not include it.  
Can you add your own field chooser in your Outlook inbox with the option of having in cell editing like Microsoft Outlook 2007 for Windows?