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Overview of AACSB Proposed Accounting Accreditation Standards-An Update

Overview of AACSB Proposed Accounting Accreditation Standards-An Update. APLG/FSA Annual Meeting February 11, 2013 Jon Davis University of Illinois and and Jerry Trapnell AACSB International. Accounting Standards Working Group.

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Overview of AACSB Proposed Accounting Accreditation Standards-An Update

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  1. Overview of AACSB Proposed Accounting Accreditation Standards-An Update • APLG/FSA Annual Meeting • February 11, 2013 • Jon Davis • University of Illinois • and • and Jerry Trapnell • AACSB International

  2. Accounting Standards Working Group • Two members from BRC (Jan Williams and George Krull) and involvement with Pathways Commission • Current chair and vice-chair of AAC (Jon Davis and Ray Whittington) • Past chair of AAC (Jan Williams) • Current and past members of AAC (George Krull, Mary Stone, and Dick Dietrich) • Wealth of peer review experience with business and accounting reviews

  3. Input Process • Relied on work of BRC • Pathways Commission report issued in August 2012 • Presentation at 2012 AAA meeting • Discussions at AAC meetings • Discussions at 2012 APLG/FSA Annual Seminar to initiate dialogue

  4. Timetable Toward April 2013 • Jan. 16 – Distribution of revised, updated standards to Working Group • Jan. 19 – Exposure draft released to AACSB membership and public • Jan. 23-25 – AACSB Deans Conference • Feb. 9-11 – APLG/FSA Presentations on Acct Stds • April 8 – Vote by Accreditation Council • March - December 2013 – Committee, PRT and mentor training

  5. Working Group Charge and Status • Comprehensive review of: • Accreditation standards and eligibility criteria – Completed • Accreditation processes and related organizational structure – On-going • Accreditation support services – On-going • Items 2 & 3 – On-going responsibility will be turned over to the Accreditation Quality Committee • Working Group sunsets May 15, 2013

  6. The Standards… • Reduces 15 acct standards to 10 • Incorporates 9 applicable business standards into one standard (A1) but focuses only on incremental, unique reporting if necessary • Focus is on unique attributes of quality and continuous improvement for accounting academic units • Follows same structure as the business standards

  7. What’s Changed… • Focuses on supporting the evolution of accounting as a learned profession • Recognizes the importance of student outcomes on professional examinations for licensure where mission includes this focus • Aligns well with the Pathways Commission Report recommendations on faculty and student professional engagement and interactions, enhanced curricula content on technology, and faculty credentials reflecting the profession

  8. What’s Changed cont’d • Standard A1 identifies the business standards the accounting academic unit must meet as part of business accreditation. Reporting only if unique facts to be shared. • Standards A2, A3, A4, A5, A6, A10 follow business standards but require acct units to report in depth. Some unique expectations added • Standards A7, A8, and A9 unique accounting standards on curricula, IT expectations, and faculty professional experience and credentials

  9. Recognizing high-quality and continuous improvement through: • Continues this theme from the business standards exposure draft

  10. Section 1 Eligibility Criteria(Same as Business Criteria) Demonstrating commitment to core values and Guiding Principles Criteria 1:Ethical Behavior Criteria 2: Collegiate Setting Criteria 3:Commitment to Corporate Social Responsibility Setting and framing the foundation for review. Criteria 4: Accreditation Scope and AACSB Membership Criteria 5: Oversight, Sustainability, and Continuous Improvement Criteria 6: Policy on Continued Adherence to Standards and Integrity of Submissions to AACSB

  11. Section 2: Standards for Accounting Accreditation

  12. Std A1 Applicable Business Standards • Standard 4 – Student Admissions, Progression, and Career Development • Standard 6 – Faculty Management and Support • Standard 7 – Professional Staff Sufficiency and Deployment • Standard 9 – Curricula Content (for business) • Standard 10 – Student-Faculty Interactions

  13. Std A1 Cont’d Applicable Business Standards Cont’d • Standard 11 – Degree Program Educational Level, Structure, and Equivalence • Standard 12 – Teaching Effectiveness • Standard 13 - Student Academic and Professional Engagement • Standard 14 – Executive Education

  14. Accounting-Business Stds Links Std A2 (Mission, etc) Std A3 (Intellectual Contributions) Std A4 (Financial Strategies, etc.) Std A5 (Faculty sufficiency) Std A6 (Curricula Mgt) Std 1 (Mission) Std 2 (Intellectual Contributions) Std 3 (Financial Strategies, etc.) Std 5 (Faculty Sufficiency) Std. 8 (Curricula Mgt)

  15. Accounting-Business Stds Links None (Structured like Std. 9) None None Std 15 (Faculty Qualifications and Engagement) Std A7 (Acct Curricula Content) Std A8 (Acct Info Technology Outcomes) Std A9 (Faculty Professional Experience and Credentials) Std A10 (Acct Faculty Qualifications, Engagement/Professional Interactions)

  16. Std A2 Accounting Mission, Impact, and Innovation Deepening our understanding of mission Strategic Management and Innovation

  17. Std A3 Accounting Intellectual Contributions and Alignment with Mission Beyond counting: valuing the impact and quality of scholarship Strategic Management and Innovation

  18. Std A4 Accounting Financial Strategies and Allocation of Resources Financial strategies to sustain quality and innovation Strategic Management and Innovation

  19. Accounting Participants: Students, Faculty, and Professional Staff • Standard A5:

  20. Std A5 Accounting Faculty Sufficiency and DeploymentEnsuring an appropriate level of engaged faculty Participants: Students, Faculty, and Professional Staff

  21. Learning and Teaching • Standards A6-A8:

  22. Std A6 Accounting Curricula Management and Assurance of Learning Giving context to Assurance of Learning Learning and Teaching

  23. Std A7 Accounting Curricula Content Fostering innovation with flexible guidance and clarified expectations Learning and Teaching

  24. Std A8 Accounting Related Information Technology Outcomes Addressing emerging demands for enhanced understanding of technological impact

  25. Accounting Academic and Professional Engagement • Standards A9-A10:

  26. Std A9 Accounting Faculty Professional Experience and Credentials Linking accounting faculty to the accounting profession

  27. Accounting Faculty Qualifications and Engagement/Professional Interactions Std A10 Elevating scholarship and developing intersections between theory and practice Academic and Professional Engagement

  28. SA + PA + SP + IP ≥ 90 percent SA + PA + SP ≥ 60 percent SA ≥ 40 percent

  29. Timeframe from this Point • By February 20, 2013, finalize draft based on input from this meeting and other input from the AACSB constituency • Obtain Accounting Standards Working Group Approval and final approval by AACSB Board of Directors • Issue official notice of vote with final versions of business and accounting standards with voting directions

  30. Questions and Comments

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