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Accounting Curriculum Redesign

Accounting Curriculum Redesign

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Published by Ronnie Dean
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Published by: Ronnie Dean on Feb 13, 2014
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01/31/2015

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the legal framework that defines the profession’s responsibilities. Concern for the environment and sustainable development has grown. Section 3. All cultures exist in an environment of significant change. Increasingly, today’s professional accountants need to be technical experts with excellent communication skills, and they need to be able to meet the reporting and information needs of the new knowledge economy. In addition to acquiring technical accounting knowledge and skills, professional accountants need skills that enable them to be, when appropriate, business advisors, financial analysts, communicators, negotiators, and managers. At the same time, integrity, objectivity and willingness to take a firm stand are essential attributes of professional accountants. Professional values, ethics and attitudes are integral to being a professional accountant. Section 4. A program of accounting education needs to go beyond the traditional approach. This approach emphasized “transfer of knowledge,” with learning defined and measured strictly in terms of knowledge of principles, standards, concepts, facts and procedures at a given point in time. Increased emphasis needs to be placed on a set of professional knowledge, professional skills, and professional values, ethics and attitudes broad enough to enable adaptation to constant change. Individuals who become professional accountants should have a constant desire to learn and apply what is new. Section 5. The foregoing trends lead to the need for greater accountability and, as a result, in all cultures demands on the profession are high and continue to rise. It is the profession’s capacity to satisfy these demands that determines its value to society. These trends challenge professional accountants to make greater contributions to society than ever before, and they also present a challenge to maintaining competence. The viability of accountancy as a profession depends on the ability and willingness of its individual members to accept responsibility for meeting these challenges. To meet these challenges, there is a need to ensure that individuals who  become professional accountants achieve an agreed level of competence, which is then maintained. The means by which individuals develop competence is through education. The Commission, therefore, needs to set high standards in accounting education. Section 6. These standards are concerned with professional-level accounting education, rather than with vocational-type technical training. This distinction is important because within the broad field of accountancy, various kinds of accounting tasks require varying levels of competence and skills. The  persons performing these tasks may be called accountants or auditors, but not all have professional status. The legally recognized professionals in the field of accounting are those who are registered with the Professional Regulation Commission (PRC) and the Board of Accountancy (BOA) as Certified Public Accountants (CPAs).
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ARTICLE II AUTHORITY TO OPERATE
Section 7. All private higher education institutions (PHEIs) intending to offer the Bachelor of Science in Accountancy (BSA) program must first secure proper authority from the Commission in accordance with the existing policies. Section 8. State universities and colleges (SUCs), and local colleges and universities should likewise strictly adhere to the provisions in these policies. Section 9. The revised minimum curricular requirements for Bachelor of Science in Accountancy are herein prescribed for all schools duly recognized or authorized by the government to operate the program.
ARTICLE III PROGRAM SPECIFICATIONS
Section 10. The degree program described herein shall be called Bachelor of Science in Accountancy (BSA). Section 11. The BSA program may be offered in a separate School of Accountancy or in a Department of Accountancy in the Colleges or Schools of Business. Section 12. The primary goal of accounting education is to produce competent  professional accountants capable of making a positive contribution over their lifetimes to the profession and society in which they work. In the face of increasing changes that they will meet later as professional accountants, it is essential that students develop and maintain an attitude of learning to learn, to maintain their competence later as professional accountants. Section 13. The BSA program should provide a foundation of professional knowledge,  professional skills, and professional values, ethics and attitudes that enable them to continue to learn and adapt to change throughout their professional lives. These capabilities will enable professional accountants to identify  problems, know where to find this knowledge and know how to apply it in an ethical manner to achieve appropriate solutions. The balance of these elements may vary but what is required is to develop the knowledge base and strong skills in order to produce competent professional accountants with appropriate values, ethics and attitudes. Section 14. Preparing students for the CPA licensure examinations and for employment in private establishment and public sector (government agencies) are subsidiary objectives which should judiciously blend with the primary goal of preparing students for a successful long-term professional accounting career. Thus, the accounting graduate should be qualified to take and pass the CPA licensure examinations, and to obtain employment as an entry-level  professional accountant. With proper orientation and supervision, he should  be able to cope with the problems he will face upon in the workplace.
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