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Fall, Roadmap to an Advanced Placement Accounting Course

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Fall, 2007

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Outcome…

If we know where we are going we are more likely to get there…

• AP Accounting Course

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• No new AP courses to be licensed in next 5 years as resources, both financial and human, are fully committed to managing the quality of existing courses, exams, and professional

development programs. (AP has course suites in

Math, English, Natural Sciences, Social Sciences, and World Languages)

• The AP or Pre-AP identifier cannot be used when labeling an aspiring High school course. • Due to the tremendous efforts being

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The Good News…

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Roadmap…

If we know where we are going we are more likely to get there

– What’s currently happening?

– What are the New AP Course

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Current Initiatives:

• KSU-Dan Deines

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1. The Course

2. The Assessment

3. The Professional Development

4. College Credit

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• “Description of the standard, commonly offered college course upon which AP course will be modeled, with a focus on the knowledge, skills, abilities developed in the course and

descriptions of the ways this course produces in students such knowledge, skills, and abilities. In addition, the description

should specify the prerequisite knowledge, skills, and abilities required for success in the course.

• 10 or more sample syllabi representing a range of higher education institutions; these syllabi should demonstrate that

there is a degree of consistency across colleges and universities in what is taught and learned in this course.

• A description of the sequent course in which students earning AP credit would receive placement, typically the next course in the sequence following the standard, introductory college course.

• 10 or more sample syllabi for the sequent course, representing a range of higher education institutions; these syllabi should

demonstrate that there is a degree of consistency across colleges and universities in what is taught in this course.”

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• “How are knowledge, skills, and abilities in this

discipline assessed at the college level? What would be measured by the AP assessment? What formats would be needed for the assessment? Is any special evidence required?” Source: The College Board

• For example, Macroeconomics and Microeconomics AP exams consist of:

– Multiple choice questions,

– Two short free response, and – One long free response.

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• Curriculum Survey-Test Specifications-Exam: CLEP Financial Accounting Curriculum Survey, Summary of Results (.pdf/110K)

• Description of the Examination

• The purpose of the exam is to assess student mastery of the skills and concepts required for success in a first-semester financial accounting course. Colleges may award credit for a one-semester course in financial accounting.

• The exam contains 75 multiple choice questions answered in 90 minutes. • Knowledge and Skills Required

• The purpose of the exam is to assess student mastery of the skills and concepts required for success in a first-semester financial accounting course. Exam questions require students to demonstrate that they: • Are familiar with accounting concepts and terminology

• Have an understanding of the preparation, use, and analysis of accounting data and financial reports issued for both internal and external purposes • Can apply accounting techniques to problem-solving situations involving

computations

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20–30% General topics

• • Generally accepted accounting • principles

• • Rules of double-entry accounting/ • transaction analysis/accounting • equation

• • The accounting cycle • • Business ethics

• • Purpose of, presentation of, and • relationships between financial • statements

• • Forms of business

20–30% The Income Statement

• • Presentation format issues • • Recognition of revenue and • expenses

• • Cost of goods sold

• • Irregular items (e.g., discontinued • operations, extraordinary items, etc.) • • Profitability analysis

30–40% The Balance Sheet

• • Cash and internal controls

• • Valuation of accounts and notes • receivable (including bad debts) • • Valuation of inventories

• • Acquisition and disposal of • long-term asset

• • Depreciation/Amortization/ • Depletion

• • Intangible assets (e.g., patents, • goodwill, etc.)

• • Accounts and notes payable • • Long-term liabilities (e.g., bonds • payable)

• • Owner’s equity

• • Preferred and common stock • • Retained earnings

• • Liquidity, solvency and activity • analysis

5–10% Statement of Cash Flows

• • Indirect method • • Cash flow analysis

• • Operating, financing and investing • activities

Less than 5% Miscellaneous

• • Investments

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• “What is the difference right now between

the high school course and the college

course?

• What types of professional development

will be needed?

• What new or additional knowledge, skills,

and abilities do high school teachers need

to deliver the college-level course?”

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Current Professional Development Efforts:

• Kansas-KSU Pilot Summer Workshop

• Kentucky-KyCPA/KyDOE/KySBA Teacher Training partnership for new Courses

• Florida HS Accounting Teacher Summer Camp -multiple day teaching conference • AICPA or State Society Sponsored

Meetings -one day workshops that dealt primarily with the Takin’ Care of Business curriculum

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• “How many colleges and universities in the

United States are seeking a

credit-by-examination program in this discipline?

• How many college and university

academic departments in the United

States agree to provide credit in this

discipline if an AP assessment were

created?”

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Bar Raised for New AP Courses and Exams

AP Application must document:

• 1,500 colleges and universities agree to

provide credit/placement for acceptable

performance on new AP exam

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• “How many high schools in the United

States are currently teaching a

college-level course in this discipline?

• How many high schools agree to offer this

course in the first year it is available?

• How many students will take the AP

assessment in its 1

st

, 2

nd

, 3

rd

, 4

th

, and 5

th

years of availability?”

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Bar Raised for New AP Courses and Exams

AP Application must document:

• 2,500 US secondary schools offering a course equivalent to AP-level curriculum • 25,000 students exam ready

• Advocates invest in building elementary and middle school programs that will enable U.S. students to study the subject at an advanced level.

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Roadmap…

If we know where we are going we are more likely to get there

• What’s next?...

– Mirror AP Course Development Process

• Development Taskforce or Committee

• Fulfill AP Proposal Application Requirements • Secure Funding

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• Generally appointed by College Board to prepare course descriptions and exams.

• Six or seven highly qualified members from a

variety of types of secondary schools and college teachers from all regions of the country.

• The subject matter authorities when making decisions in exam construction process.

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Obstacles to Progress

• Current or New HS Course

• Weighted GPA course-

District or DOE

• Course-

Career & Technical or Academic

• College Accreditation by AACSB or

ACBSP or Regional Groups-

currently

required faculty credentials for articulation

• Current Articulation Agreements thru

exam

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For more information, contact:

Pre-Certification Education Executive Committee, AICPA:

George Krull [email protected] Kentucky Initiative: Penny Gold KyCPA CEO [email protected] KSU Initiative: Dr. Dan Deines KPMG Peat Marwick Professor Kansas State University

[email protected]

Florida Initiative:

Susan Crosson Professor Santa Fe Community College

References

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