220 Cash Management Matrix Appendix B

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220 Cash Management Matrix Appendix B Powered By Docstoc
					                                                                                                                                 ACCT220 PRINCIPLES OF ACCOUNTING I
                                                                                      AICPA COMPETENCIES AND EXPANDED ACCOUNTING FIELD OF STUDY LEARNING OUTCOMES




                                                                                                                                       measure- ment
                                                                                                                     risk analysis &




                                                                                                                                                                                                                                             project mgmt
                                                                                                                                                                              professional




                                                                                                                                                                                                                                                                        perspective



                                                                                                                                                                                                                                                                                      perspective




                                                                                                                                                                                                                                                                                                               perspective



                                                                                                                                                                                                                                                                                                                             client focus


                                                                                                                                                                                                                                                                                                                                            technology
                                                                                                                                                                                                       interaction



                                                                                                                                                                                                                     leadership




                                                                                                                                                                                                                                                                                                                regulatory
                                                                                                                                                                               demeanor




                                                                                                                                                                                                                                  communi-




                                                                                                                                                                                                                                                                                                                                                         PRIORITY
                                                                                                  AICPA

                                                                                                          modeling




                                                                                                                                                       reporting




                                                                                                                                                                                                                                                                                                    resource
                                                                                                                                                                   research




                                                                                                                                                                                                                                                                                                                                              leverage
                                                                                                          decision




                                                                                                                                                                                             problem




                                                                                                                                                                                                                                                            thinking
                                                                                                                                                                                             solving
                                                                                                                         control




                                                                                                                                                                                                                                                             critical



                                                                                                                                                                                                                                                                          sector
                                                                                                                                                                                                                                    cation




                                                                                                                                                                                                                                                                                        global

                                                                                                                                                                                                                                                                                                      mgmt
Desired learning is categorized as: E=enduring
understanding; K=know and do; F=familiar with
Expanded accounting field of study learning outcomes (See WASC documents for
list of accounting field of study learning outcomes, nos. 1-28.)
Module 1:
This module will introduce the student to the fundamental concepts of financial accounting.
It will take the student through the entire accounting cycle. The module will begin with a
reflection from the Christian worldview on ethical behavior in the workplace. Chapters 1-5,
7. Students will:
1. understand & use accounting terminology.                                                                                                                                       X            X                                     X                                                    X                        X                                         K
2. be aware of regulatory agencies, professional organizations, laws related to financial
reporting & fraud; compare to international bodies & standards.                                                                                          X                        X                                                                                                       X                        X                                          F
3. understand types of fraud & fraud triangle; prevention, detection, deterrence; historical
fraud cases.                                                                                                                                                                      X                                                                            X            X                                                                                 F
13. Analyze ethical dilemmas, reflect upon ethical decision making.                                          X            X                                                                    X                       X                                       X            X             X                        X           X                              E
14. develop personal integrity with a Christian worldview, knowledge of professional
standards & codes of conduct, laws & regulations.                                                                                                                                 X                      X             X                                                                                                                                     K
4. understand US GAAP, accounting theory & concepts.                                                         X                                           X                                     X                                                               X                          X                        X                                         F
5. use the accounting equation.                                                                                                           X              X                                                                                                                                                                     X                             K
5. work through accounting cycle to prepare financial statements.                                                                         X              X                                               X                                     X                                                                                                             K
9. understand reporting for sole proprietorships.                                                                         X                              X                        X                                                                                         X                                                                                F
8. compare service and merchandising entities.                                                                            X                              X                        X                                                                                         X                                                                                F
5. use subsidiary ledgers & control accounts.                                                                                             X              X                                     X                                                                                                       X                                                     K
16. become familiar with information systems, Microsoft Office applications.                                              X                                                       X                                                  X                                                                                                         X             F
10. compute & use common financial ratios.                                                                   X            X               X                         X                                                                                                       X             X            X                       X               X             K
Module 2:
This module will take a closer look at specific accounting for assets and liabilities. Internal
controls will be introduced and their importance to efficiency and effectiveness evaluated.
Chapters: 6, 8, 9, 10. Students will:
11. understand the value of effective internal controls.                                                     X            X                              X                        X                      X                                                     X                          X                        X           X               X             F
12. understand corporate governance, ethical business environment.                                                                                       X                                                             X                                                    X             X                        X                                         F
4. account for cash & investments.                                                                                                        X              X                                                                                                     X                                       X                                                     F
15. understand cash management.                                                                              X            X                                                       X            X                                                                                                       X                                                     F
4. account for receivables.                                                                                                               X              X                                                                                                                                             X                                                     F
4. account for and value inventories.                                                                                                     X              X                                                                                                                                             X                                                     F
4. account for and value long-lived assets.                                                                                               X              X                                                                                                                                             X                                                     F
10. compute & use financial ratios for assets.                                                               X            X               X                         X                                                                                                       X             X            X                       X               X             K
13. analyze ethical dilemmas, reflect upon ethical decision making.                                          X            X                                                                    X                       X                                       X            X             X                        X           X                             E
14. develop personal integrity with a Christian worldview, knowledge of professional
standards & codes of conduct, laws & regulations.                                                                                                                                 X                      X             X                                                                                                                                     K
6. understand how to reconcile accounts and detect errors.                                                                                X                                                    X                                                               X                                                                                             K
5. complete team comprehensive assignments.                                                                  X                            X              X                        X            X         X             X             X         X                                                                                                             K




                                                                                                                                                                                                                                                                                                                                  last modified 7/30/08
       A-ACCT220 OUTCOME MATRIX
       ACCT 220 - F09 (Appendix)
       WINTERS                                                                                                                                                       1 of 7                                                                                                                                                                 Appendix A
                                                                                                                               ACCT220 PRINCIPLES OF ACCOUNTING I
                                                                                   AICPA COMPETENCIES AND EXPANDED ACCOUNTING FIELD OF STUDY LEARNING OUTCOMES




                                                                                                                                     measure- ment
                                                                                                                   risk analysis &




                                                                                                                                                                                                                                           project mgmt
                                                                                                                                                                            professional




                                                                                                                                                                                                                                                                      perspective



                                                                                                                                                                                                                                                                                    perspective




                                                                                                                                                                                                                                                                                                             perspective



                                                                                                                                                                                                                                                                                                                           client focus


                                                                                                                                                                                                                                                                                                                                          technology
                                                                                                                                                                                                     interaction



                                                                                                                                                                                                                   leadership




                                                                                                                                                                                                                                                                                                              regulatory
                                                                                                                                                                             demeanor




                                                                                                                                                                                                                                communi-




                                                                                                                                                                                                                                                                                                                                                       PRIORITY
                                                                                                AICPA

                                                                                                        modeling




                                                                                                                                                     reporting




                                                                                                                                                                                                                                                                                                  resource
                                                                                                                                                                 research




                                                                                                                                                                                                                                                                                                                                            leverage
                                                                                                        decision




                                                                                                                                                                                           problem




                                                                                                                                                                                                                                                          thinking
                                                                                                                                                                                           solving
                                                                                                                       control




                                                                                                                                                                                                                                                           critical



                                                                                                                                                                                                                                                                        sector
                                                                                                                                                                                                                                  cation




                                                                                                                                                                                                                                                                                      global

                                                                                                                                                                                                                                                                                                    mgmt
Desired learning is categorized as: E=enduring
understanding; K=know and do; F=familiar with
Module 3:

5. 6. To demonstrate the students' ability to apply the concepts learned in this course, the
student will prepare the accounting records and financial statements for a merchandising
sole proprietorship business. Students will reconcile accounts, including error detection and
correction. In order for the student to have deeper understanding of the accounting cycle
and relationship of the components, the project will be performed namually.                               X                            X              X           X             X            X         X             X             X         X               X                                                   X                                         K
PRIORITY of learning                                                                                      K             K              K              K           F             K            K         K             F             F         F               K            F             F            F           F            F              F




                                                                                                                                                                                                                                                                                                                                last modified 7/30/08
      A-ACCT220 OUTCOME MATRIX
      ACCT 220 - F09 (Appendix)
      WINTERS                                                                                                                                                      2 of 7                                                                                                                                                                 Appendix A
    Schedule 5
                                                                 SCHOOL OF BUSINESS AND MANAGEMENT
                                                           ACCOUNTING FIELD OF STUDY LEARNING OBJECTIVES
                                                 FUNDAMENTAL SKILLS, FOUNDATIONAL PRINCIPLES, AICPA CORE COMPETENCIES




                                                                       risk analysis &




                                                                                                                                                                                            project mgmt
                                                                                                                             professional




                                                                                                                                                                                                                       perspective



                                                                                                                                                                                                                                     perspective




                                                                                                                                                                                                                                                              perspective



                                                                                                                                                                                                                                                                              client focus


                                                                                                                                                                                                                                                                                             technology
                                                                                                                                                      interaction

                                                                                                                                                                    leadership




                                                                                                                                                                                                                                                               regulatory
                                                                                                                                                                                 communi-
                                                                                                                              demeanor




                                                                                                                                                                                                                                                                                                          PRIORITY
                                                   AICPA

                                                           modeling




                                                                                         measure-

                                                                                                    reporting




                                                                                                                                                                                                                                                   resource
                                                                                                                research
                                                           decision




                                                                                                                                                                                                                                                                                               leverage
                                                                                                                                            problem




                                                                                                                                                                                                           thinking
                                                                                                                                            solving
                                                                           control




                                                                                                                                                                                                            critical


                                                                                                                                                                                                                         sector



                                                                                                                                                                                                                                       global
                                                                                                                                                                                   cation




                                                                                                                                                                                                                                                     mgmt
                                                                                          ment
Desired learning is categorized as: E=enduring
understanding; K=know and do; F=familiar with
FUNDAMENTAL SKILLS
COMMUNICATION                                                                                         X                          X                                                 X                                                                                                            X                K
TEAMWORK/PROJECT MANAGEMENT                                                                                                                             X             X                       X                                                                                                                  F
THINKING (CRITICAL, STRATEGIC, CREATIVE) &
PROBLEM SOLVING                                              X              X              X                     X               X            X                                                               X            X             X                        X             X                                E
DECISION MAKING                                              X              X              X          X          X               X            X                                                               X                                                   X                                              E
ETHICAL REASONING                                            X              X              X          X                          X            X                       X                                       X            X             X                        X                                              E
BUSINESS TOOLS/TECHNOLOGY                                                                                        X                                                                 X                                                                                                            X                K
CHANGE DYNAMICS                                              X              X                                                                                         X                                                                              X                                                           F

FOUNDATIONAL PRINCIPLES
ACCOUNTING                                                   X              X              X          X          X               X            X         X             X            X          X               X            X             X           X            X             X               X                E
MANAGEMENT & LEADERSHIP                                                                                                          X                                    X                                                                                                                                          F
MARKETING                                                                   X                                                                                                                                                                                                   X                                F
LEGAL & REGULATORY                                                          X              X          X          X               X                                                 X                                       X             X                        X                                              E
ECONOMICS                                                                                                                                                                                                                  X             X           X                                                           F
FINANCE                                                                     X                                    X                                                                                                                       X           X                                                           F
INTERNATIONAL BUSINESS/GLOBAL DIMENSIONS                                                                                                                                                                                   X             X                                                                       F


Conclusion:
These School of Business and Management Fundamental Skills, Foundational Principles, and AICPA Competencies are used to develop the
                                          Accounting Field of Study as follows:

Three primary Fundamental Skills that will be emphasized in the Accounting Field of Study curriculum learning outcomes and teaching strategies:
                                                                      Thinking/Problem Solving
                                                                      Decision Making
                                                                      Ethical Reasoning

Two secondary Fundamental Skills that will be emphasized in the Accounting Field of Study curriculum learning outcomes and teaching strategies:
                                                                      Communication Skills
                                                                      Business Tools/Technology

Two primary Foundational Principles that will be emphasized in the Accounting Field of Study curriculum learning outcomes and teaching strategies:
                                                                      Accounting
                                                                      Legal & Regulatory

    B-5-ACCT LEARN OBJ
    ACCT 220 - F09 (Appendix)                                                                                                                                                                                                                                                     Appendix B
    WINTERS                                                                                                                3 of 7                                                                                                                                           last modified: 2/21/07
Schedule 7                                          SCHOOL OF BUSINESS AND MANAGEMENT
                                        ACCOUNTING FIELD OF STUDY - LEARNING OUTCOMES COURSE MATRIX




                                                                                                                                                                         DECISION MAKING




                                                                                                                                                                                                                                      TAX- CORPORATE
                                                                                                                                                       INTERMEDIATE II




                                                                                                                                                                                                                    TAX- INDIVIDUAL
                                                                                                                                      INTERMEDIATE I




                                                                                                                                                                          ACCT/FIN FOR
                                                                                                                      PRINCIPLES II




                                                                                                                                                                                                      ACCOUNTING
                                                                                                       PRINCIPLES I
                                                                                        STATISTICS
                                                                            COURSES




                                                                                                                                                                                                       ADVANCED
                                                                                                                                                                                           AUDITING
      Desired learning is categorized as: E=enduring understanding;
      K=know and do; F=familiar with


      ACCOUNTING FIELD OF STUDY LEARNING OUTCOMES                                     MATH265 ACCT220 ACCT221 ACCT324 ACCT325 ACCT321 ACCT427 ACCT428 ACCT440 ACCT442
 1    Understand and use accounting terminology.                                                          K              K               E                E                   E              E           E             E                 E
   Become aware of the US regulatory agencies, professional
   organizations, and laws related to financial reporting and fraud;                                      F              F               K                K                   F              E           K             K                 K
 2 compare to international bodies and standards.

   Understand fraud, including the fraud triangle: pressures, incentives,
   opportunities; fraudulent financial statements/asset
                                                                                                          F              F                                                    K              E
   misappropriation/corruption; prevention/detection/deterrence. Become
 3 familiar with historical fraud cases/schemes.
   Understand US generally accepted accounting principles (GAAP), its
   theories, concepts, and application to business activities; compare to                                 F              F               E                E                                              E              F                F
 4 international standards.
   Use accounting simulations to understand accounting equation and
   accounting cycle; accounting system components: documents,                                             K              K               E
 5 journals, ledgers, statements.
   Understand how to reconcile accounts, including error detection and
                                                                                                          K              K               K                K                                  K           K              F                F
 6 correction.

   Understand complex and specialized accounting and reporting related
   to not-for-profit organizations, state and local governments,                                                         F                                                                               K
   bankruptcy reorganizations, business combinations, partnerships.
 7

   Understand external financial statements and annual reports,
   including: balance sheet, income statement, statement of
   stockholder’s equity/retained earnings, cash flow statement,                                           F              K               E                E                   K              K           K              F                F
   management discussion and analysis, report on internal controls, and
 8
   SEC rep

   Understand the accounting, reporting, and legal similarities and
   differences between sole proprietorships, partnerships, and                                            F              K                                                                               E              F                F
 9 corporations.
    Understand financial analysis using qualitative and quantitative
    methodologies, including: ratios, horizontal & vertical analysis,                     F               K              K               K                K                   K              K           K
 10 industry norms, benchmarks, budgeting.
    Understand the value and methodology of internal controls to achieve
    management’s objectives for safeguarding assets, financial reporting,
                                                                                                          F              F                                                    E              E
    operational efficiency and effectiveness, compliance with laws &
 11 regulations.
    Understand corporate governance; SOX compliance, ethics programs
                                                                                                          F              F                                                    E              E
 12 & value of an ethical business environment.
      Analyze ethical dilemmas and reflect upon the results of choices
                                                                                                          E              K                                                    K              E                          F                F
 13 made that formed the outcome.
    Develop personal moral values/integrity based upon Christian
    worldview, knowledge of professional standards & codes of conduct,                                    K              K                                                    K              E                         K                 K
 14 laws & regulations.
 15 Understand cash management.                                                                           F              F                                                    E              F

      Use common business software applications, including: Word, Excel,
      Microsoft Office, general ledger applications, Internet resources,                  F               F              K               K                K                   K              K           K             K                 K
      professional organizations’ websites, and communication tools.
 16
    Understand the primary functional areas of a business, and primary
    activities of managers, including: how organizations use financial
                                                                                                          F              F                                                    K
    information for developing, monitoring, and maintaining a long-term
 17 strategy.
    Understand decision modeling and how financial information assists
    with internal decision making: cost-volume-profit analysis; capital                   F                              F                                                    K
 18 investing.
    Understand cost behaviors and types of costing systems, pricing, cost
                                                                                                                         F                                                    K
 19 management strategies
    Understand budgeting for planning and measuring performance,
    including: cash budget, operating budgets, responsibility accounting,                                                F                                                    E
 20 and balanced scorecard.

C-7-ACCT LEARN OUT MATRIX
ACCT 220 - F09 (Appendix)                                                                                                                                                                                              Appendix C
winters                                                                                              4 of 7                                                                                                        last modified 2/28/07
Schedule 7                                          SCHOOL OF BUSINESS AND MANAGEMENT
                                        ACCOUNTING FIELD OF STUDY - LEARNING OUTCOMES COURSE MATRIX




                                                                                                                                                                            DECISION MAKING




                                                                                                                                                                                                                                         TAX- CORPORATE
                                                                                                                                                          INTERMEDIATE II




                                                                                                                                                                                                                       TAX- INDIVIDUAL
                                                                                                                                         INTERMEDIATE I




                                                                                                                                                                             ACCT/FIN FOR
                                                                                                                         PRINCIPLES II




                                                                                                                                                                                                         ACCOUNTING
                                                                                                          PRINCIPLES I
                                                                                           STATISTICS
                                                                               COURSES




                                                                                                                                                                                                          ADVANCED
                                                                                                                                                                                              AUDITING
      Desired learning is categorized as: E=enduring understanding;
      K=know and do; F=familiar with


      ACCOUNTING FIELD OF STUDY LEARNING OUTCOMES                                        MATH265 ACCT220 ACCT221 ACCT324 ACCT325 ACCT321 ACCT427 ACCT428 ACCT440 ACCT442
 21 Understand motivation and performance compensation.                                                                     F                                                    K              F
    Understand the auditing profession, including: US generally accepted
    auditing standards, professional ethics, legal liability, certification,                                 F              F                                                    F              E
 22 international auditing standards.
    Understand business failure and audit failure; responsibilities of
                                                                                                                                                                                 F              K
 23 management, responsibilities of auditors.
    Understand the audit process, management’s assertions, audit
    objectives, parts and types of audit reports and reports on internal
                                                                                                                                                                                                E
    controls, and communication between auditors, management, and the
 24 board of directors.

      Understand auditing procedures, evidence and documentation, how
      technology impacts the audit process, statistical & nonstatistical                     F                                                                                                  K
      sampling, and issuing an opinion based upon the evidence
 25
    Access professional resources, including: FASB, GAAS, quality
    control standards, Code of Professional Conduct/Ethics, PCAOB, tax                                                                                                           F              E           K             K                 K
 26 codes.
    Understand federal income tax code for individuals, partnerships and
                                                                                                                                                                                                                          K                 K
 27 corporations.

      Apply tax concepts by preparing simulated federal income tax returns.                                                                                                                                               E                 E
 28




C-7-ACCT LEARN OUT MATRIX
ACCT 220 - F09 (Appendix)                                                                                                                                                                                                 Appendix C
winters                                                                                                 5 of 7                                                                                                        last modified 2/28/07
Schedule 7                              SCHOOL OF BUSINESS AND MANAGEMENT
                            ACCOUNTING FIELD OF STUDY - LEARNING OUTCOMES COURSE MATRIX


  BUSINESS LAW




  BUSN
 316/317




     F




     F




     F




     K




     K

     E


     E




     K




C-7-ACCT LEARN OUT MATRIX
ACCT 220 - F09 (Appendix)                                                                  Appendix C
winters                                                6 of 7                             last modified 2/28/07
Schedule 7                              SCHOOL OF BUSINESS AND MANAGEMENT
                            ACCOUNTING FIELD OF STUDY - LEARNING OUTCOMES COURSE MATRIX


  BUSINESS LAW




  BUSN
 316/317
     F

     F


     F




     F




C-7-ACCT LEARN OUT MATRIX
ACCT 220 - F09 (Appendix)                                                                  Appendix C
winters                                                7 of 7                             last modified 2/28/07

				
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