SAINT JOSEPH S UNIVERSITY

Transcription

1 SAINT JOSEPH S UNIVERSITY ERIVAN K. HAUB SCHOOL OF BUSINESS Department of Accounting ACCOUNTING ACCREDITATION MAINTENANCE FIFTH YEAR REPORT July 2009

2 REPORT CONTENTS GENERAL INFORMATION... 2 ABOUT THE MAINTENANCE REPORT... 2 EXECUTIVE SUMMARY... 3 BACKGROUND... 3 ENROLLMENTS... 3 Table 1: Total Enrollment... 4 Table 2: Undergraduate Degrees Granted... 4 Chart 1: Declared Accounting Majors... 4 EFFECTIVE PRACTICES THAT FULFILL THE DEPARTMENT S MISSION... 5 ACCOMPLISHMENTS/RECOGNITIONS SINCE INITIAL ACCREDITATION... 6 SITUATIONAL ANALYSIS: SWOT... 7 MISSION OF THE DEPARTMENT STRATEGIC PLANNING PROCESS Table 3: Strategic Plan ASSESSMENT OF LEARNING TOOLS AND PROCEDURES AOL ACTIVITIES, : HSB AND DEPARTEMNT LEARNING TARGETS FOR B.S. IN ACCOUNTING COURSE/PROGRAM EVALUATION AND CURRICULUM MODIFICATIONS FINANCIAL STRATEGIES FACULTY SUFFICIENCY AND QUALIFICATIONS LIST OF APPENDICES D D e p a r t m e n t o f A c c o u n t i n g F i f t h Y e a r M a i n t e n a n c e R e p o r t Page 1

3 GENERAL INFORMATION Joseph A. DiAngelo, Jr., Dean Erivan K. Haub School of Business Saint Joseph s University 5600 City Avenue Philadelphia, PA Telephone: (610) Joseph M. Ragan, Chair Department of Accounting Saint Joseph s University 5600 City Avenue Philadelphia, PA Telephone: (610) Fax: (610) jragan@sju.edu ABOUT THE MAINTENANCE REPORT This report follows the format suggested in the AACSB International document Fifth Year Maintenance Report. It closely conforms to the requirements stated in the Maintenance of Accreditation Handbook. In addition to the materials in this report and its 11 appendices, many other Department of Accounting documents have been compiled and are available in the Dean s Office for review during the on-site visit. This maintenance of accreditation report is the culmination of a team effort that involved faculty, administrators, staff, students, alumni, and others from the Haub School of Business and the Department of Accounting, as well as many colleagues from various sectors of the SJU campus community. D D e p a r t m e n t o f A c c o u n t i n g F i f t h Y e a r M a i n t e n a n c e R e p o r t Page 2

4 EXECUTIVE SUMMARY BACKGROUND Saint Joseph s University (SJU), accredited by the Middle States Commission on Higher Education, is an independent, Catholic, Jesuit institution. The University has offered business programs since its 1851 founding, when the only two courses of study were Commerce and Classics. The Bachelor of Science degree in Accounting has been conferred by the University since One hundred and thirty years of business education culminated in the creation of the College of Business and Administration in The Department of Accounting was formed at that time. On October 3, 1997, the College changed its name to the Erivan K. Haub School of Business (hereinafter Haub School or HSB ), as evidence of the significant financial contribution of the Haub family and the School s commitment to the continuing internationalization of its business program. The Department is proud of the effective practices that have been implemented over the past decade to enhance delivery of its program. Appendix A provides significant detail about the effective practices that assist us in achieving our mission. ENROLLMENTS We believe that the single most important driver of our program s strength and growth has been enhancement of the Department s reputation among various stakeholder constituencies throughout the Mid-Atlantic region. The quality of our educational programming initiatives and the exceptional outcomes achieved documented throughout this report have stimulated a growing demand for our major program. While the University grew its full-time enrollment by 10.1 percent from 2004 to 2008, students in the Haub School s majors increased by 18.1 percent. The Department of Accounting saw an increase in declared majors of 22.5 percent during this same time period. As the HSB s Fifth Year Maintenance of Accreditation report notes, we are in the midst of an unprecedented period of expansion; enrollment, physical infrastructure, faculty size, and resource requirements all are to the increase. So, too, is competition in our local marketplace, with 88 institutions of higher education in a 25-mile radius of our campus vying for potential students attention. SJU, HSB, and the Department continue to grow because of our quality programs. Shown on the next page, in tabular and graphical form, is our growth pattern. D D e p a r t m e n t o f A c c o u n t i n g F i f t h Y e a r M a i n t e n a n c e R e p o r t Page 3

5 TABLE 1: TOTAL ENROLLMENT Total Enrolled Undergraduates Fall 2004 Fall 2005 Fall 2006 Fall 2007 Fall 2008 Spring 2009 Accounting HSB 2,177 2,278 2,229 2,257 2,492 2,420 TABLE 2: UNDERGRADUATE DEGREES GRANTED Degrees Granted Accounting HSB CHART 1: DECLARED ACCOUNTING MAJORS (Fall and Spring 2009) D D e p a r t m e n t o f A c c o u n t i n g F i f t h Y e a r M a i n t e n a n c e R e p o r t Page 4

6 EFFECTIVE PRACTICES THAT FULFILL THE DEPARTMENT S MISSION The undergraduate accounting curriculum at Saint Joseph s University consists of a collection of courses that is designed to develop an ethically minded professional accountant. The program prepares students for a career in industry, government, or public accounting. Academic preparation for a professional career is the principal focus of our mission. In our major course of study, practical exercise and theoretical discussion provide extensive preparation for the Uniform Certified Public Accountant Examination. A Certificate of Competence in SAP ERP software is awarded to students upon completion of the five core courses in Financial and Management Accounting Information Systems. The accounting major course requirements have been designed specifically to allow maximum flexibility for students in the selection of the required/elective arts and sciences classes that augment their professional development and academic preparation for a career in business. The Department takes pride in the effective practices that have been developed since initial AACSB accreditation to continually improve the quality and delivery of its undergraduate program. Building on a long-standing tradition of commitment to excellence in teaching, research, service, and professional interaction, the faculty engage in activities focused on accomplishing the Department s mission educational goals that are congruent with the objectives of the University and Haub School. The effective practices appendix, included as part of this report, highlights the following activities of the Department: Assurance of Learning: Improving Course-Level Outcomes Reputational Enhancement: The Driver of Program Growth Educating the Whole Student: Enrichment Outside the Classroom Program Development: Planning for 2010 and 2012 Events Faculty Qualifications and Deployment Outcomes Measured by Graduates Career Placement Stakeholder Input: Accounting Advisory Board Achieving the Mission: Proactive Planning and Management D D e p a r t m e n t o f A c c o u n t i n g F i f t h Y e a r M a i n t e n a n c e R e p o r t Page 5

7 ACCOMPLISHMENTS/RECOGNITIONS SINCE INITIAL ACCREDITATION Since initial accreditation, the Department of Accounting has continued to grow and pursue excellence. A sample of our accomplishments since 2000 include: Awarded a curriculum renewal grant from SAP for innovative work to reengineer the intermediate and advanced accounting courses. Faculty have earned numerous awards for recognition of teaching, research, advising, service, and social justice. Awarded a $50,000 grant by PricewaterhouseCoopers to integrate International Financial Reporting Standards in the curriculum. Developed an honors section for the accounting principles course. Volunteer Income Tax Assistance Program has grown to servicing over 300 clients each year with more than 50 student and alumni volunteers participating. International accounting course developed and now is a standard part of our elective offerings along with being a required class for HSB students in the International Business major handled by the Department of Management. Offered, in connection with the VITA program, a service learning component in the basic individual income tax course. Our Europe study tour, now in its eighth year, focuses on the globalization of commerce and harmonization of accounting and reporting standards. Department was recognized by SJU as a Signature Program, receiving a $150,000 budget grant to enhance curriculum delivery. The Accounting major continues its growth and currently has approximately 80 students in each graduation-year class. STAR leadership program has grown to more than 8 awardees per year. These students, some of whom are certified as TERP 10 SAP Solutions Consultants, enable the roll out of SAP in various courses and annually provide support to over 90 students on SAP-related class projects. Sutula Scholars program has grown to 10 students per year. This recognition continues to stress leadership and service initiatives, featuring a speakers program and student participation in volunteer activities. Accounting Society reaches its largest membership ever, with more than 120 active participants. During the year, the Society sponsors more than 20 events and is an integral part of the student recruiting effort. Assurance of learning activities continue to evolve and provide a vehicle for continuous improvement of individual courses and the overall program. Indirect assessment measures have been developed by surveying students who have graduated five years and ten years ago. This information allows us to adjust our program to handle the challenges that our graduates experience. Internship program continues to provide students a special opportunity to obtain practical, career-related experience while still engaged in a full-time degree program. Typically, there are 20 interns each year. D D e p a r t m e n t o f A c c o u n t i n g F i f t h Y e a r M a i n t e n a n c e R e p o r t Page 6

8 SITUATIONAL ANALYSIS: SWOT Given below is a comprehensive self-assessment of the internal strengths and weaknesses of the Department along with the external opportunities and threats in our environment. The Department considers the 150-hour requirement to present a great opportunity, but also to generate the greatest risk. Given our history, SJU is well suited for the transition from being just an undergraduate program to incorporating a Masters of Accountancy. STRENGTHS The Department of Accounting is accredited by AACSB. The Department s faculty are excellent teachers who consistently provide exemplary service to the Department, Haub School, and University. The Department s faculty publish in a broad range of journals covering discipline-based research, learning and pedagogical studies, and contributions to accounting practice. Faculty serve as reviewers and members of editorial boards for several journals. The Department s faculty have a variety of backgrounds in the subfields of accounting and they bring appropriate academic and professional perspectives to the classroom. The Department has an active Advisory Board that includes a diverse group of accounting professionals in various career stages. The Department s portfolio of practical experience and interactions with professionals is exceptional. The Department has an excellent physical learning environment. All classes are taught by faculty members, not graduate student assistants; class size fosters one-on-one interaction. The B.S. in Accounting degree mandates a course of study that includes a strong liberal arts component which provides a solid criticalthinking foundation in the humanities, social sciences, and natural sciences. The Department offers many enrichment programs that allow students to engage in service learning activities, advanced technology applications, and student leadership opportunities. The Department also offers international study tours. Specialized Enterprise Resource Planning software (SAP) is fully integrated in three of the five required Financial and Managerial Information Systems core courses. Surveys show that over 80 percent of the Department s undergraduate students seeking employment receive job offers prior to graduation; close to 100 percent are employed within three months of graduation. D D e p a r t m e n t o f A c c o u n t i n g F i f t h Y e a r M a i n t e n a n c e R e p o r t Page 7

9 WEAKNESSES Faculty recruiting continues to be a significant problem as the number of available terminally qualified faculty declines nationally. This difficulty is exacerbated by reduced budgets for faculty research and professional development support. The faculty devotes an inordinate amount of time and effort to committee service and administrative responsibilities both within and outside the Department, while also assuming responsibility for advising students. These duties create time demands that often conflict with research agendas established by/for faculty. The Department has yet to respond to the changing requirement in Pennsylvania for a 5 year program (150 credit hours). The Department has been slow to offer on-line learning courses. The M.B.A. accounting concentration currently has low enrollment. Courses offered tend to be unusually small. The limitation on sections taught by terminally qualified faculty has meant larger class sizes than is preferred given the teaching emphasis stated in the mission of Saint Joseph s University. D D e p a r t m e n t o f A c c o u n t i n g F i f t h Y e a r M a i n t e n a n c e R e p o r t Page 8

10 OPPORTUNITIES The school s location provides excellent opportunities to (1) recruit quality students from neighboring school districts, some of which are among the best in the country, and, for the graduate programs, from businesses in the greater Philadelphia area, (2) attract corporate recruiters, and (3) raise support funds externally. The Department can increase enrollments in the M.B.A. program in conjunction with Pennsylvania s transition to the 150-hour education requirement for CPA candidates and will benefit from development of a Masters of Accountancy program. The Department, Haub School, and University can provide additional incentives for tenured faculty to publish scholarly and professional research and to present their findings at academic conferences. There are numerous opportunities to offer short-term executive seminars for business executives that could bring in revenues and provide exposure and visibility for the Department. The tri-state area is a magnet for businesses that could provide a greater number of high-quality job placements for the Department s graduates outside of the traditional area of public accounting practice. The number of high school seniors applying to colleges is relatively high, allowing the University to be more selective in its admissions process. Declining job offers in other disciplines make Accounting more attractive. The Department can develop additional international study opportunities for faculty and students. Leveraging the relationship Saint Joseph's has with Nanjing University in China is one of the ways to accomplish this. The Department has a strong technological infrastructure within its core courses that is enhanced by SAP ERP software. This could be expanded across the curriculum and also enabled in executive programs. Technological capable graduates are in high demand by area employers. D D e p a r t m e n t o f A c c o u n t i n g F i f t h Y e a r M a i n t e n a n c e R e p o r t Page 9

11 THREATS The nationwide shortage of Ph.D.s in accounting will make it difficult to fill faculty lines as enrollments increase and/or faculty retire. This also impacts the Department s ability to attract a more diverse faculty. The Department could experience a significant short-term decline in enrollments resulting from Pennsylvania s transition to the 150-hour education requirement for CPA candidates. In the near term, the recessionary economy may cause parents to rethink the decision to send their children to private schools for an undergraduate degree. The ability to attract qualified faculty has been impacted negatively by more competitive offers from other schools. The inflexibility of Saint Joseph s to provide reduced teaching loads and other research opportunities has also been a factor. Villanova University, a close competitor, has in existence a Masters of Accountancy program, thus establishing it as first-to-market and giving that school an edge in the Philadelphia marketplace for 5-year courses of study in accounting. D D e p a r t m e n t o f A c c o u n t i n g F i f t h Y e a r M a i n t e n a n c e R e p o r t Page 10

12 MISSION OF THE DEPARTMENT The Department of Accounting, guided by the traditions of Jesuit educational philosophy and a strong liberal arts emphasis, provides students with the skills and knowledge to become competent, responsible, and ethically minded business decision makers. We offer an undergraduate major in Accounting and a variety of basic and advanced courses to serve the School in its undergraduate, graduate, and executive programs. Within the M.B.A. program, we offer a concentration in Accounting with a broad managerial focus that stresses the user perspective of accounting information. To prepare students to enter the world of business, government, and not-for-profit entities, the Department bases its mission statement on the following guiding principles: We believe our educational programs should be student centered and follow the Ignatian ideal of developing the whole person. We offer an academic program in accounting that provides an eclectic curriculum reflecting the emerging realities of a global marketplace. We stress knowledge acquisition by communicating life-long learning skills and by continuously improving the educational process through classroom integration of theory and business practice. We recognize the important link between teaching and scholarly activity and promote faculty scholarship and intellectual contributions that enhance quality teaching and contribute to the growth of the accounting profession and academic discipline. We support interaction with the larger business community so as to respond to the changing needs of the accounting profession in the Mid-Atlantic region and enhance the relevance of our educational program and course offerings. The mission of the Department of Accounting is consonant with that of the Haub School of Business and Saint Joseph s University. Points of commonality among these three units include: Commitment to the ideals and philosophy of Jesuit education; Emphasis on social responsibility and ethical behavior; Goal of developing well-rounded professionals who are committed life-long learning; Extensive liberal arts and sciences curriculum that matures the whole person as a critical thinker committed to serving others; A faculty focus on effective teaching and advising of students; Dedication of faculty to institutional and community service; A regularly pursued program by faculty leading to intellectual contributions that are a mix of basic research, applied research, and instructional development commensurate with, and contributing to, their teaching responsibilities. D D e p a r t m e n t o f A c c o u n t i n g F i f t h Y e a r M a i n t e n a n c e R e p o r t Page 11

13 The mission of the Department is clearly communicated to its various constituencies in several ways. The preamble to the accounting course offerings in the Saint Joseph s University catalog communicates one facet of the mission statement. Departmental promotional materials that are distributed to prospective majors reflect the spirit of the mission statement and specifically enunciate our educational goals for students who choose our course of study. D D e p a r t m e n t o f A c c o u n t i n g F i f t h Y e a r M a i n t e n a n c e R e p o r t Page 12

14 STRATEGIC PLANNING PROCESS Strategic planning is accomplished by the Department as a whole in conjunction with its various stakeholders including administrators, students, alumni, and our Advisory Board. Annual retreats have been held during the past three years to review how well the Department has been achieving its goals and to prepare a strategic plan for the ensuing five year period. Here are our current strategic goals (boxed below) and a diagram of the strategic planning/management process the Department has adopted to achieve its mission: Strategic Goals 1. Seek continuous improvement in our program by integration of Jesuit principles and service to others. 2. Position the Department for regional preeminence by effective management of its competitive advantages and strengths. 3. Provide ongoing assessment of teaching and learning in the program to sustain and improve the Department s commitment to quality academic outcomes. 4. Maintain and develop new relationships with alumni and friends of the Department. 5. Develop a five year masters program to compete in the regional marketplace. SJU Students Value Creation Our Faculty Value Creation drives the strategy process The Profession Effective strategic management creates constituency value Develop the Mission and Vision Perform a Situation Analysis Set the Objectives and Craft Strategy Implement Strategy Assess Value Creation to Provide Feedback Adapted from: Porth, Strategic Management 3rd ed. (Prentice-Hall, 2006). D D e p a r t m e n t o f A c c o u n t i n g F i f t h Y e a r M a i n t e n a n c e R e p o r t Page 13

15 The Department s strategic plan for the five-year period 2009 to 2014 shown on the next two pages is designed to build on our strengths and accomplishments while addressing areas that need improvement and capitalizing on opportunities that can further enhance the quality of program delivery. The Department views its mission statement and accompanying strategic plan as living documents; they are reviewed regularly and revised as needed using established planning processes. The plan is adjusted each year as progress toward achieving the goals set forth are assessed during preparation of the AACSB Annual Maintenance of Accreditation Report. At that same time, new strategic initiatives are taken into consideration after the latest situational analysis (SWOT development) is completed. The process is driven by the faculty, with significant input from various stakeholders, including students, administrators, recruiters, and alumni. D D e p a r t m e n t o f A c c o u n t i n g F i f t h Y e a r M a i n t e n a n c e R e p o r t Page 14

16 TABLE 3: STRATEGIC PLAN Time Line Responsible Party Assessment Resources Needed Goal 1: Jesuit Education and Service to Others Encourage greater student participation in Accounting Society activities Ongoing Chair, accounting faculty, accounting society Increased attendance has been achieved N/A Use STAR and SI programs to implement the teacher-scholar model Ongoing Chair, accounting faculty Achieved $20,000 per year Strive for cura personalis by linking Department actions with University-wide Mission/Identity events Ongoing Dean, chair, accounting faculty In progress N/A Support student travel to present academic papers Dean, chair, accounting faculty In progress $10,000 per year Introduce additional service learning opportunities for students Ongoing Chair, accounting faculty, Arrupe Center, VITA Offered an SL option in ACC 215 N/A Have visiting speakers lecture on current topics affecting accounting professionals Ongoing Dean, chair, accounting faculty, accounting society Implemented in three core ACC classes $1,200 honoraria Develop presentations to Accounting Society and students regarding ethics in accountancy Ongoing Dean, chair, accounting faculty, accounting society, Arrupe Center In progress N/A Goal 2: Regional Preeminence Complete implementation of program initiatives included in the Signature Program proposal 2009 Dean, chair, accounting faculty Completed N/A Develop a Masters of Accountancy program; hire Program Director; add a new faculty member Launch in 2011 Dean, chair, accounting faculty In progress $175,000 Assist faculty in developing new freshman seminar courses to comply with new University curriculum Dean, chair, accounting faculty In progress $10,000 Implement plan for program enhancements as defined in the IFRS grant funded by PricewaterhouseCoopers Dean, chair, accounting faculty In progress PwC grant funds ($50,000) D D e p a r t m e n t o f A c c o u n t i n g F i f t h Y e a r M a i n t e n a n c e R e p o r t Page 15

17 Time Line Responsible Party Assessment Resources Needed Goal 3: Teaching and Learning Assessment Introduce new first-year seminars and designate an ethics course for integration with the revised GEP curriculum Chair, accounting faculty, Dept. of Philosophy In progress Stipends ($40,000) Develop effective plan for regular peer evaluation of all faculty Dean, chair, accounting faculty In progress N/A Convene an annual mid-year retreat to continue development and revision for assurance of learning plans and conduct course assessments Ongoing Dean, chair, accounting faculty In progress $3,000 Monitor and modify the curriculum in light of assurance of learning results Ongoing Dean, chair, accounting faculty In progress N/A Support instructional innovation and development of new courses for our majors, including enhancements in their communications skills Dean, chair, accounting faculty, Dept. of English TBD TBD Goal 4: Alumni and Stakeholder Involvement Fill Sutula Chair position Dean, chair, accounting faculty Advertising is needed $5,000 Encourage faculty to avail themselves of external funding sources to enhance teaching and research Ongoing Dean, chair, accounting faculty In progress N/A Establish a policy for Advisory Board meetings to occur at least once a year 2009 Dean, chair, accounting faculty Completed N/A Goal 5: Five Year Masters Program Develop a curriculum benchmarked against other schools currently offering a 5-year program Develop a Masters of Accountancy program; hire Program Director; add a new faculty member Launch in 2011 Create a marketing plan to attract students Dean, chair, accounting faculty Dean, chair, accounting faculty Dean, chair, accounting faculty In progress N/A In progress $175,000 TBD TBD D D e p a r t m e n t o f A c c o u n t i n g F i f t h Y e a r M a i n t e n a n c e R e p o r t Page 16

18 ASSESSMENT OF LEARNING TOOLS AND PROCEDURES Coordinated with a similar development in the Haub School of Business, the Department of Accounting and its Curriculum Committee identified learning goals and objectives for the undergraduate accounting program. A course-embedded assessment program now has been instituted to measure achievement of learning by students. The assessment plan for the Department of Accounting is as follows: 1. Planning and Development: To develop and maintain learning goals, objectives, and assessment plans for the undergraduate degree program in accounting. a. To solicit input from faculty, students, alumni, and Department Advisory Board members regarding all aspects of assessment of student learning. b. To coordinate assessment activities with those of the Haub School. c. To identify new and innovative methods of assessing student learning. 2. Implementation and Oversight: To coordinate implementation of various student learning outcome assessment methods. a. To assist the faculty in setting course-specific learning goals and objectives so as to achieve expected program-level outcomes. b. To coordinate and oversee assessment of these goals by utilizing methods such as stand-alone testing or performance review and courseembedded measurement techniques. 3. Evaluation and Reporting: To accumulate and evaluate the results of assessment-related activities and report the results to the Curriculum Committee and the Department faculty. Results also may be shared with other stakeholders. 4. Coordination and Improvement: To develop suitable proposals to address any learning deficiencies uncovered in the assessment process. During Fall 2006, in addition to existing indirect assessment that was accomplished primarily through various survey instruments, the Department added direct measurement of student learning goals and objectives. Several Department faculty members attended AACSB seminars on assurance of student learning. In Fall 2007, the Department initiated a formal program to enunciate specific learning goals and objectives for its degree program, develop methods to give assurance that students are achieving the learning goals and objectives, and provide a framework for developing and executing curriculum changes wherever deficiencies in student learning are identified. The purpose of establishing a process to assure student learning is consistent with the mission of both the Department and the School to provide students with the knowledge, skills, and analytical tools necessary to become successful and ethical minded professionals. This process paralleled that undertaken by the Haub School of Business at large. D D e p a r t m e n t o f A c c o u n t i n g F i f t h Y e a r M a i n t e n a n c e R e p o r t Page 17

19 AOL ACTIVITIES, : HSB AND DEPARTMENT Accounting Curriculum Committee was tasked to oversee the assurance of learning process. Designed an overall plan to identify goals in all degree programs. Developed an initial AOL process flow. Wrote learning goals for the undergraduate and part-time M.B.A. programs. First HSB AOL retreat held to identify learning goals to be covered in undergraduate business core courses; developed rubrics for measurement of student outcomes Started to execute, evaluate, and report results on AOL undergraduate student outcomes for most core accounting courses; determined that ACCT 205/206/207 should be measured together. Two all-day AOL meetings conducted; the Department s Curriculum Committee presented its assessment of the results gleaned thus far from the undergraduate accounting program assessment. Accounting and DSS units participated in departmental reviews AOL reports were provided and evaluated favorably All the learning objectives for courses currently offered were completed for the undergraduate program. Continued to execute, evaluate, and report results on AOL undergraduate student outcomes for core courses. Spring 2008: Development of an AOL database to store all inputs and produce reports for upload to AACSB site on Blackboard and the Accounting website. Accounting Curriculum Committee evaluated outcomes to begin closing the loop. Fall 2008: AOL evaluation of all undergraduate core courses was completed. January 2009: Full-day HSB AOL retreat held to focus on closing the loop. Continued to execute, evaluate, and report results on AOL undergraduate student outcomes for core courses. AOL website enhanced. Spring 2009: AOL evaluation of all undergraduate core courses conducted. D D e p a r t m e n t o f A c c o u n t i n g F i f t h Y e a r M a i n t e n a n c e R e p o r t Page 18

20 LEARNING TARGETS FOR B.S. IN ACCOUNTING Learning Target 1: Functional Knowledge Students will acquire strong functional knowledge of the theory and content of accounting, auditing, and taxation. Specific Objectives: Demonstrate an understanding of the concepts and theories of generally accepted accounting principles (GAAP). Demonstrate knowledge of, the purpose, content, presentation, and disclosure of financial statements. Demonstrate an ability to analyze financial statements. Demonstrate knowledge of: o Generally accepted auditing standards (GAAS), and o U.S. income taxation procedures. Demonstrate an understanding of the role of accountants in ensuring the integrity of financial information, including the planning and execution of audits. Demonstrate an ability to design, implement, and evaluate accounting information systems. Learning Target 2: Professional Responsibilities Students will develop an awareness of and an appreciation for professional responsibilities and ethical issues related to the field of accountancy. Specific Objectives: Demonstrate an ability to identify ethical issues in accounting, auditing, and taxation. Demonstrate knowledge of the legal, ethical, and regulatory environment of accounting, auditing, and taxation. Demonstrate an understanding of the importance of the accounting discipline in maintaining high standards of integrity in business and commercial activities. D D e p a r t m e n t o f A c c o u n t i n g F i f t h Y e a r M a i n t e n a n c e R e p o r t Page 19