Functional Competencies For Entry Into The Accounting Profession
In July 1999, the AICPA Board endorsed The AICPA Core Competency Framework for Entry into the Accounting Profession (the Framework). The Framework emphasizes skills and competencies universally applicable to a diverse and growing array of accounting career options rather than a more traditional content approach (i.e., topics tested on the CPA exam).
The Framework breaks these needed competencies into three broad categories (functional, personal, and broad business perspective). Functional Competencies relate to the technical competencies most closely aligned with the value contributed by accounting professionals. As such the AICPA's Functional Competencies are the goal of the SHSU BBA in Accounting. The AICPA has identified six Functional Competencies. - Decision Modeling - Risk Analysis - Measurement - Reporting - Research - Leverage Technology to Develop and Enhance Functional Competencies. At the undergraduate level, the Department of Accounting has selected five of these six competencies as objectives.
Objective
Decision Modeling
Individuals preparing to enter the accounting profession must be able to use strategic and critical approaches to decision-making. They must objectively consider issues, identify alternatives, and choose and implement solution approaches in order to deliver services and provide value. Elements include: - Identifies problems and potential solution approaches - Uses quantitative techniques to determine relative importance and likelihood of - alternative scenarios - Employs model-building to quantify problems or test solutions - Evaluates the cost/benefit of alternative solutions - Organizes and evaluates information, alternatives, cost/benefits, risks and rewards - Links data, knowledge, and insights together for decision-making purposes - Objectively identifies strengths, weaknesses, opportunities, and threats associated with a specific scenario, case, or business activity
Indicator
Course Embedded Measures
A mixture of exam questions, projects, cases, and / or problem assignments will be used in courses to measure the success in meeting the objective. The mix will depend on the course and objective being assessed.
Criterion
Level of Success Standard
Once the assessment of the Functional Competencies is completed in each course, a class average for that assessment will be compiled. This average will be compared to the standard to determine the success in achieving the competencies. The standards are 60% for junior-level classes, 70% for senior-level classes, and 75% for graduate-level classes.
Finding
Decision Modeling
Decision-Modeling was assessed at the junior-level in Accounting 369 and 381. The weighted average percentage score for Decision-Modeling was 54% in Fall 2008 and 67% in Spring 2009. The Fall result was less than the junior-level desired minimum level of 60% while the Spring result exceeded the desired minimum. This mixed result indicates a less than desired level of student success with decision-modeling.
Finding
Risk Analysis
Risk Analysis was assessed at the junior-level in Accounting 381. The weighted average percentage score for Risk Analysis was 57% in Fall 2008 and 54% in Spring 2009. Both the Fall and Spring result was less than the junior-level desired minimum level of 60%.
At the senior-level Risk Analysis was assessed in Accounting 481. The weighted average percentage score for Risk Analysis was 80% in Fall 2008 and 79% in Spring 2009. Both the Fall and Spring result exceed the senior-level desired minimum level of 70%.
This mixed result indicates a less than desired level of student success with risk analysis.
Finding
Measurement
Measurement was assessed at the junior-level in Accounting 365, 366, 369, and 383. The weighted average percentage score for Measurement was 58% in Fall 2008 and 64% in Spring 2009. The Fall result was less than the junior-level desired minimum level of 60% while the Spring result exceeded the desired minimum.
At the senior-level Measurement was assessed in Accounting 435 and 436. The simple average percentage score for Measurement was 82% in Fall 2008 and 78% in Spring 2009. Both the Fall and Spring result exceed the senior-level desired minimum level of 70%.
Although the results were generally above the desired minimum level, there is room for improvement in Measurement.
Finding
Reporting
Reporting was assessed at the junior-level in Accounting 365, 366, 369, and 383. The weighted average percentage score for Reporting was 68% in Fall 2008 and 66% in Spring 2009. Both the Fall and Spring result exceeded the junior-level desired minimum level of 60%.
At the senior-level Reporting was assessed in Accounting 435, 436, and 481. The simple average percentage score for Reporting was 80% in Fall 2008 and 71% in Spring 2009. Both the Fall and Spring result exceed the senior-level desired minimum level of 70%.
All the results exceed the desired minimum level of performance. Even so, there is room for improvement in Reporting.
Finding
Leveraging Technology
Leveraging Technology was assessed at the senior-level in Accounting 436. The simple average percentage score for Leveraging Technology was 80% in Fall 2008 and 71% in Spring 2009. Both the Fall and Spring result exceed the senior-level desired minimum level of 70%.
The results were above the desired minimum level of performance, however there is room for additional improvement in Leveraging Technology.
Action
Curriculum Change
The results of the assessment of the AICPA's Core Competencies showed mixed results. Reporting and Leveraging Technology clearly exceeded the minimum desired level of performance while Decision Making, Risk Analysis, and Measurement each failed to consistently exceed the minimum.
Based on the findings of the assessments and their own research, the Department of Accounting's Curriculum Committee has suggested increasing the prerequisite requirement for entrance into Intermediate Accounting I. Currently, students seeking entrance into Intermediate I must have completed Principles of Financial Accounting and Principles of Managerial Accounting with a grade of C or better in each class. The recommendation from the Curriculum Committee is to increase the minimum acceptable grade in the two Principles courses to a grade of B or better. The rational for this change is the fact that many students are reaching Intermediate Accounting without the required understanding of the basics of accounting. Consequently, valuable class time in Intermediate Accounting is spent on remedial topics. This results in other topics that should be covered in Intermediate Accounting having to either be covered in a superficial manner or not covered at all. This has a ripple effect through the entire rest of the accounting curriculum.
The Curriculum Committee's recommendation will be presented to the COBA Executive Committee (and the new Dean) this summer. And if acceptable to that body, this change will be included in the Fall 2010 Undergraduate Catalog changes.
Objective
Risk Analysis
Risk analysis and control is fundamental to professional service delivery. The identification and management of audit risk (that is, the risk that the auditor will fail to detect a misstatement, caused by inadvertent error or fraud, that is material to financial statements) is the basis for the conduct of a GAAS audit. The understanding of business risk (that is, the risk that an entity - either a client or the prospective accounting professionals employer - will fail to achieve its objectives) affects how business strategy is created and implemented. Elements include: - Identifies risks of negative outcomes (including fraud) - Evaluates controls that mitigate risk of negative outcomes through prevention or detection and correction - Assesses and controls unmitigated risks through, for example, designing and applying tests - Communicates the impact of identified risks and recommends corrective action
Indicator
Course Embedded Measures
A mixture of exam questions, projects, cases, and / or problem assignments will be used in courses to measure the success in meeting the objective. The mix will depend on the course and objective being assessed.
Criterion
Level of Success Standard
Once the assessment of the Functional Competencies is completed in each course, a class average for that assessment will be compiled. This average will be compared to the standard to determine the success in achieving the competencies. The standards are 60% for junior-level classes, 70% for senior-level classes, and 75% for graduate-level classes.
Finding
Decision Modeling
Decision-Modeling was assessed at the junior-level in Accounting 369 and 381. The weighted average percentage score for Decision-Modeling was 54% in Fall 2008 and 67% in Spring 2009. The Fall result was less than the junior-level desired minimum level of 60% while the Spring result exceeded the desired minimum. This mixed result indicates a less than desired level of student success with decision-modeling.
Finding
Risk Analysis
Risk Analysis was assessed at the junior-level in Accounting 381. The weighted average percentage score for Risk Analysis was 57% in Fall 2008 and 54% in Spring 2009. Both the Fall and Spring result was less than the junior-level desired minimum level of 60%.
At the senior-level Risk Analysis was assessed in Accounting 481. The weighted average percentage score for Risk Analysis was 80% in Fall 2008 and 79% in Spring 2009. Both the Fall and Spring result exceed the senior-level desired minimum level of 70%.
This mixed result indicates a less than desired level of student success with risk analysis.
Finding
Measurement
Measurement was assessed at the junior-level in Accounting 365, 366, 369, and 383. The weighted average percentage score for Measurement was 58% in Fall 2008 and 64% in Spring 2009. The Fall result was less than the junior-level desired minimum level of 60% while the Spring result exceeded the desired minimum.
At the senior-level Measurement was assessed in Accounting 435 and 436. The simple average percentage score for Measurement was 82% in Fall 2008 and 78% in Spring 2009. Both the Fall and Spring result exceed the senior-level desired minimum level of 70%.
Although the results were generally above the desired minimum level, there is room for improvement in Measurement.
Finding
Reporting
Reporting was assessed at the junior-level in Accounting 365, 366, 369, and 383. The weighted average percentage score for Reporting was 68% in Fall 2008 and 66% in Spring 2009. Both the Fall and Spring result exceeded the junior-level desired minimum level of 60%.
At the senior-level Reporting was assessed in Accounting 435, 436, and 481. The simple average percentage score for Reporting was 80% in Fall 2008 and 71% in Spring 2009. Both the Fall and Spring result exceed the senior-level desired minimum level of 70%.
All the results exceed the desired minimum level of performance. Even so, there is room for improvement in Reporting.
Finding
Leveraging Technology
Leveraging Technology was assessed at the senior-level in Accounting 436. The simple average percentage score for Leveraging Technology was 80% in Fall 2008 and 71% in Spring 2009. Both the Fall and Spring result exceed the senior-level desired minimum level of 70%.
The results were above the desired minimum level of performance, however there is room for additional improvement in Leveraging Technology.
Action
Curriculum Change
The results of the assessment of the AICPA's Core Competencies showed mixed results. Reporting and Leveraging Technology clearly exceeded the minimum desired level of performance while Decision Making, Risk Analysis, and Measurement each failed to consistently exceed the minimum.
Based on the findings of the assessments and their own research, the Department of Accounting's Curriculum Committee has suggested increasing the prerequisite requirement for entrance into Intermediate Accounting I. Currently, students seeking entrance into Intermediate I must have completed Principles of Financial Accounting and Principles of Managerial Accounting with a grade of C or better in each class. The recommendation from the Curriculum Committee is to increase the minimum acceptable grade in the two Principles courses to a grade of B or better. The rational for this change is the fact that many students are reaching Intermediate Accounting without the required understanding of the basics of accounting. Consequently, valuable class time in Intermediate Accounting is spent on remedial topics. This results in other topics that should be covered in Intermediate Accounting having to either be covered in a superficial manner or not covered at all. This has a ripple effect through the entire rest of the accounting curriculum.
The Curriculum Committee's recommendation will be presented to the COBA Executive Committee (and the new Dean) this summer. And if acceptable to that body, this change will be included in the Fall 2010 Undergraduate Catalog changes.
Objective
Measurement
Measures used should be both relevant (that is, bear on the decision to be made) and reliable (consistently measure what they purport to measure). Various measurement and disclosure criteria used by accounting professionals - such as GAAP, OCBOA (Other Comprehensive Basis of Accounting) and tax reporting - have been codified to some degree. Other performance measures (such as Economic Value Added) or stated criteria (for example, investment performance) are used for special purposes. Some measurement criteria (such as effectiveness of internal control) are measured qualitatively, rather than quantitatively. Elements include: - Identifies what needs to be measured - Determines an appropriate, relevant and reliable measure for the intended use - Measures items using appropriate methods of measurement - Presents the measurement results objectively using applicable standards of disclosure or reporting - Resolves ambiguities when estimates are required
Indicator
Course Embedded Measures
A mixture of exam questions, projects, cases, and / or problem assignments will be used in courses to measure the success in meeting the objective. The mix will depend on the course and objective being assessed.
Criterion
Level of Success Standard
Once the assessment of the Functional Competencies is completed in each course, a class average for that assessment will be compiled. This average will be compared to the standard to determine the success in achieving the competencies. The standards are 60% for junior-level classes, 70% for senior-level classes, and 75% for graduate-level classes.
Finding
Decision Modeling
Decision-Modeling was assessed at the junior-level in Accounting 369 and 381. The weighted average percentage score for Decision-Modeling was 54% in Fall 2008 and 67% in Spring 2009. The Fall result was less than the junior-level desired minimum level of 60% while the Spring result exceeded the desired minimum. This mixed result indicates a less than desired level of student success with decision-modeling.
Finding
Risk Analysis
Risk Analysis was assessed at the junior-level in Accounting 381. The weighted average percentage score for Risk Analysis was 57% in Fall 2008 and 54% in Spring 2009. Both the Fall and Spring result was less than the junior-level desired minimum level of 60%.
At the senior-level Risk Analysis was assessed in Accounting 481. The weighted average percentage score for Risk Analysis was 80% in Fall 2008 and 79% in Spring 2009. Both the Fall and Spring result exceed the senior-level desired minimum level of 70%.
This mixed result indicates a less than desired level of student success with risk analysis.
Finding
Measurement
Measurement was assessed at the junior-level in Accounting 365, 366, 369, and 383. The weighted average percentage score for Measurement was 58% in Fall 2008 and 64% in Spring 2009. The Fall result was less than the junior-level desired minimum level of 60% while the Spring result exceeded the desired minimum.
At the senior-level Measurement was assessed in Accounting 435 and 436. The simple average percentage score for Measurement was 82% in Fall 2008 and 78% in Spring 2009. Both the Fall and Spring result exceed the senior-level desired minimum level of 70%.
Although the results were generally above the desired minimum level, there is room for improvement in Measurement.
Finding
Reporting
Reporting was assessed at the junior-level in Accounting 365, 366, 369, and 383. The weighted average percentage score for Reporting was 68% in Fall 2008 and 66% in Spring 2009. Both the Fall and Spring result exceeded the junior-level desired minimum level of 60%.
At the senior-level Reporting was assessed in Accounting 435, 436, and 481. The simple average percentage score for Reporting was 80% in Fall 2008 and 71% in Spring 2009. Both the Fall and Spring result exceed the senior-level desired minimum level of 70%.
All the results exceed the desired minimum level of performance. Even so, there is room for improvement in Reporting.
Finding
Leveraging Technology
Leveraging Technology was assessed at the senior-level in Accounting 436. The simple average percentage score for Leveraging Technology was 80% in Fall 2008 and 71% in Spring 2009. Both the Fall and Spring result exceed the senior-level desired minimum level of 70%.
The results were above the desired minimum level of performance, however there is room for additional improvement in Leveraging Technology.
Action
Curriculum Change
The results of the assessment of the AICPA's Core Competencies showed mixed results. Reporting and Leveraging Technology clearly exceeded the minimum desired level of performance while Decision Making, Risk Analysis, and Measurement each failed to consistently exceed the minimum.
Based on the findings of the assessments and their own research, the Department of Accounting's Curriculum Committee has suggested increasing the prerequisite requirement for entrance into Intermediate Accounting I. Currently, students seeking entrance into Intermediate I must have completed Principles of Financial Accounting and Principles of Managerial Accounting with a grade of C or better in each class. The recommendation from the Curriculum Committee is to increase the minimum acceptable grade in the two Principles courses to a grade of B or better. The rational for this change is the fact that many students are reaching Intermediate Accounting without the required understanding of the basics of accounting. Consequently, valuable class time in Intermediate Accounting is spent on remedial topics. This results in other topics that should be covered in Intermediate Accounting having to either be covered in a superficial manner or not covered at all. This has a ripple effect through the entire rest of the accounting curriculum.
The Curriculum Committee's recommendation will be presented to the COBA Executive Committee (and the new Dean) this summer. And if acceptable to that body, this change will be included in the Fall 2010 Undergraduate Catalog changes.
Objective
Reporting
Communicating the scope of work and findings or recommendations is an integral part of a professional service. An accounting professional in public practice might issue an audit or attestation report, recommendations for improved services, or tax or financial planning advice. An accounting professional in business, industry, or government might analyze operations or provide communications to the board of directors. Communicating clearly and objectively the work done and the resulting findings is critical to the value of the professional service. Some forms of communication are governed by professional standards (such as the form and content of the standard auditor's report or the required communications to audit committees) or law. Others are based on the service applied and the needs of those to whom the accounting professional reports. Elements include: - Prepares reports with objectivity, conciseness and clarity - Describes work performed and conclusions reached in a manner that enhances the reports' usefulness - Employs appropriate media in report preparation and presentation
Indicator
Course Embedded Measures
A mixture of exam questions, projects, cases, and / or problem assignments will be used in courses to measure the success in meeting the objective. The mix will depend on the course and objective being assessed.
Criterion
Level of Success Standard
Once the assessment of the Functional Competencies is completed in each course, a class average for that assessment will be compiled. This average will be compared to the standard to determine the success in achieving the competencies. The standards are 60% for junior-level classes, 70% for senior-level classes, and 75% for graduate-level classes.
Finding
Decision Modeling
Decision-Modeling was assessed at the junior-level in Accounting 369 and 381. The weighted average percentage score for Decision-Modeling was 54% in Fall 2008 and 67% in Spring 2009. The Fall result was less than the junior-level desired minimum level of 60% while the Spring result exceeded the desired minimum. This mixed result indicates a less than desired level of student success with decision-modeling.
Finding
Risk Analysis
Risk Analysis was assessed at the junior-level in Accounting 381. The weighted average percentage score for Risk Analysis was 57% in Fall 2008 and 54% in Spring 2009. Both the Fall and Spring result was less than the junior-level desired minimum level of 60%.
At the senior-level Risk Analysis was assessed in Accounting 481. The weighted average percentage score for Risk Analysis was 80% in Fall 2008 and 79% in Spring 2009. Both the Fall and Spring result exceed the senior-level desired minimum level of 70%.
This mixed result indicates a less than desired level of student success with risk analysis.
Finding
Measurement
Measurement was assessed at the junior-level in Accounting 365, 366, 369, and 383. The weighted average percentage score for Measurement was 58% in Fall 2008 and 64% in Spring 2009. The Fall result was less than the junior-level desired minimum level of 60% while the Spring result exceeded the desired minimum.
At the senior-level Measurement was assessed in Accounting 435 and 436. The simple average percentage score for Measurement was 82% in Fall 2008 and 78% in Spring 2009. Both the Fall and Spring result exceed the senior-level desired minimum level of 70%.
Although the results were generally above the desired minimum level, there is room for improvement in Measurement.
Finding
Reporting
Reporting was assessed at the junior-level in Accounting 365, 366, 369, and 383. The weighted average percentage score for Reporting was 68% in Fall 2008 and 66% in Spring 2009. Both the Fall and Spring result exceeded the junior-level desired minimum level of 60%.
At the senior-level Reporting was assessed in Accounting 435, 436, and 481. The simple average percentage score for Reporting was 80% in Fall 2008 and 71% in Spring 2009. Both the Fall and Spring result exceed the senior-level desired minimum level of 70%.
All the results exceed the desired minimum level of performance. Even so, there is room for improvement in Reporting.
Finding
Leveraging Technology
Leveraging Technology was assessed at the senior-level in Accounting 436. The simple average percentage score for Leveraging Technology was 80% in Fall 2008 and 71% in Spring 2009. Both the Fall and Spring result exceed the senior-level desired minimum level of 70%.
The results were above the desired minimum level of performance, however there is room for additional improvement in Leveraging Technology.
Action
Curriculum Change
The results of the assessment of the AICPA's Core Competencies showed mixed results. Reporting and Leveraging Technology clearly exceeded the minimum desired level of performance while Decision Making, Risk Analysis, and Measurement each failed to consistently exceed the minimum.
Based on the findings of the assessments and their own research, the Department of Accounting's Curriculum Committee has suggested increasing the prerequisite requirement for entrance into Intermediate Accounting I. Currently, students seeking entrance into Intermediate I must have completed Principles of Financial Accounting and Principles of Managerial Accounting with a grade of C or better in each class. The recommendation from the Curriculum Committee is to increase the minimum acceptable grade in the two Principles courses to a grade of B or better. The rational for this change is the fact that many students are reaching Intermediate Accounting without the required understanding of the basics of accounting. Consequently, valuable class time in Intermediate Accounting is spent on remedial topics. This results in other topics that should be covered in Intermediate Accounting having to either be covered in a superficial manner or not covered at all. This has a ripple effect through the entire rest of the accounting curriculum.
The Curriculum Committee's recommendation will be presented to the COBA Executive Committee (and the new Dean) this summer. And if acceptable to that body, this change will be included in the Fall 2010 Undergraduate Catalog changes.
Objective
Leveraging Technology To Develop And Enhance Functional Competencies
Technology is pervasive in the accounting profession. Individuals entering the accounting profession must acquire the necessary skills to use technology tools effectively and efficiently. These technology tools can be used both to develop and apply other functional competencies. Elements include: - Accesses appropriate electronic databases to obtain decision-supporting information - Assesses the risk of technology and automated business processes - Uses technology assisted tools to assess and control risk and document work performed - Builds appropriate models and simulations using electronic spreadsheets and other software
Indicator
Course Embedded Measures
A mixture of exam questions, projects, cases, and / or problem assignments will be used in courses to measure the success in meeting the objective. The mix will depend on the course and objective being assessed.
Criterion
Level of Success Standard
Once the assessment of the Functional Competencies is completed in each course, a class average for that assessment will be compiled. This average will be compared to the standard to determine the success in achieving the competencies. The standards are 60% for junior-level classes, 70% for senior-level classes, and 75% for graduate-level classes.
Finding
Decision Modeling
Decision-Modeling was assessed at the junior-level in Accounting 369 and 381. The weighted average percentage score for Decision-Modeling was 54% in Fall 2008 and 67% in Spring 2009. The Fall result was less than the junior-level desired minimum level of 60% while the Spring result exceeded the desired minimum. This mixed result indicates a less than desired level of student success with decision-modeling.
Finding
Risk Analysis
Risk Analysis was assessed at the junior-level in Accounting 381. The weighted average percentage score for Risk Analysis was 57% in Fall 2008 and 54% in Spring 2009. Both the Fall and Spring result was less than the junior-level desired minimum level of 60%.
At the senior-level Risk Analysis was assessed in Accounting 481. The weighted average percentage score for Risk Analysis was 80% in Fall 2008 and 79% in Spring 2009. Both the Fall and Spring result exceed the senior-level desired minimum level of 70%.
This mixed result indicates a less than desired level of student success with risk analysis.
Finding
Measurement
Measurement was assessed at the junior-level in Accounting 365, 366, 369, and 383. The weighted average percentage score for Measurement was 58% in Fall 2008 and 64% in Spring 2009. The Fall result was less than the junior-level desired minimum level of 60% while the Spring result exceeded the desired minimum.
At the senior-level Measurement was assessed in Accounting 435 and 436. The simple average percentage score for Measurement was 82% in Fall 2008 and 78% in Spring 2009. Both the Fall and Spring result exceed the senior-level desired minimum level of 70%.
Although the results were generally above the desired minimum level, there is room for improvement in Measurement.
Finding
Reporting
Reporting was assessed at the junior-level in Accounting 365, 366, 369, and 383. The weighted average percentage score for Reporting was 68% in Fall 2008 and 66% in Spring 2009. Both the Fall and Spring result exceeded the junior-level desired minimum level of 60%.
At the senior-level Reporting was assessed in Accounting 435, 436, and 481. The simple average percentage score for Reporting was 80% in Fall 2008 and 71% in Spring 2009. Both the Fall and Spring result exceed the senior-level desired minimum level of 70%.
All the results exceed the desired minimum level of performance. Even so, there is room for improvement in Reporting.
Finding
Leveraging Technology
Leveraging Technology was assessed at the senior-level in Accounting 436. The simple average percentage score for Leveraging Technology was 80% in Fall 2008 and 71% in Spring 2009. Both the Fall and Spring result exceed the senior-level desired minimum level of 70%.
The results were above the desired minimum level of performance, however there is room for additional improvement in Leveraging Technology.
Action
Curriculum Change
The results of the assessment of the AICPA's Core Competencies showed mixed results. Reporting and Leveraging Technology clearly exceeded the minimum desired level of performance while Decision Making, Risk Analysis, and Measurement each failed to consistently exceed the minimum.
Based on the findings of the assessments and their own research, the Department of Accounting's Curriculum Committee has suggested increasing the prerequisite requirement for entrance into Intermediate Accounting I. Currently, students seeking entrance into Intermediate I must have completed Principles of Financial Accounting and Principles of Managerial Accounting with a grade of C or better in each class. The recommendation from the Curriculum Committee is to increase the minimum acceptable grade in the two Principles courses to a grade of B or better. The rational for this change is the fact that many students are reaching Intermediate Accounting without the required understanding of the basics of accounting. Consequently, valuable class time in Intermediate Accounting is spent on remedial topics. This results in other topics that should be covered in Intermediate Accounting having to either be covered in a superficial manner or not covered at all. This has a ripple effect through the entire rest of the accounting curriculum.
The Curriculum Committee's recommendation will be presented to the COBA Executive Committee (and the new Dean) this summer. And if acceptable to that body, this change will be included in the Fall 2010 Undergraduate Catalog changes.