Accounting (TYC)

Program Evaluation
Third Year Certificate in Accounting (TYC - Accounting)
As of October 31, 2011

Program Goals

The 3rd Year Certificate of Achievement in Accounting Program shall provide adequate technical skills and values training in the field of accounting that will enable the students achieve their goals, and help the FSM to attain economic development and self-reliance by:

1. Equipping students with the accounting skills and values that will be valuable for real-life work and business environments, particularly on financial reporting, managerial accounting, accounting for government non-profit entities, and taxation;
2. Establishing the required foundation for the students who intend to pursue further studies in other learning institutions; and
3. Sharing and obtaining technical know-how with the community, government, private business sector and other academic institutions.

These program goals came from Mission and Outcomes Development Worksheet for 3rd Year Certificate in Accounting submitted on August 7, 2008.

Program History

In response to the needs of the business community for local employees with adequate training in the field of accounting, the Business Administration Division proposed the Third Year Certificate in Accounting Program in 2001. The college approved this program for implementation in the same year. The degree was first offered in Fall 2001 (College Catalog, 2007-2009).

Program Description

The Business Administration Division manages organization The TYC in Accounting Program, along with the CIS and Business Programs.

Description This program is geared at equipping the students with the knowledge and skills in Cost, Government and Intermediate Accounting courses, Taxation and Applied Statistics with on-the-job training through Accounting Internship in order to meet local employment demand and the admission requirements for further studies abroad in the field of accounting.

Program Admission Requirements

Applicants for admission into this program must meet these requirements:

1. Graduate of any AS Degree
2. Minimum GPA of 2.5
3. Minimum Grade of C in Business Administration and AS Major Courses, and
4. Admitted by the COM-FSM Admissions Board

Program Degree Requirements

In addition to three courses or 9-unit credits in General Education Core Requirements, the following are the Major Core Requirements:

Program Courses and Enrollment

* College Catalog 2009-2011,
**http://www.comfsm.fm/national/administration/VPA/researchdocs/data.html

Legend:
I - introduced
D - developed and practiced with feedback
M - demonstrated adequate knowledge and skills appropriate for graduation

Program Faculty (for Spring and Fall 2011)

Program Outcome Analysis

Program Enrollment

http://www.comfsm.fm/national/administration/VPA/researchdocs/data.html
^Instructors’ Class Lists

As can be gleaned from the foregoing table and further supported by the trend graph shown above, there is an erratic movement in the number of enrollees in the program. However, there was a dramatic increase in the enrollment in 2011.

By correlating the table above with both the graduation rate in the following page and further into the course completion rate information, the reasons for the changes in enrollment in certain terms may be partly attributed to the following:

*http://www.comfsm.fm/dev/irpo/datainfo.html
^Instructors’ Grading Sheets

Graduation Rate

IRPO Graduates Academic Year 2.xlxs
^Instructor’s Invitation for Graduation

As what can be observed in the table above, there is an erratic trend in the number of graduates in relation to the number of enrollees in the program. This can be attributed to the following factors:

1. Some students, who were enrolled in 2008, were then less prepared for the program. Some of them persisted until they were able to improve their grades until 2010, when the last one finally graduated from the program.
2. In an informal survey made by the preparer of this program evaluation, of the total number of students enrolled every semester, there is an average of 20% full-time workers, 10% working part-time and most of them are either unemployed or in an employer’s full-time staff development program.

Average Class Size

It should be noted that BU/MS 310 is also a major course requirement for TYC in General Business. Since there is inadequate information available as to the number of TYC in Accounting students actually enrolled in BU/MS 310, then we can just merely use these figures above as the average class size.

Since the ideal class size is 25 students in each class and the average number of students enrolled in each class is 7.2, it is evident that there is more than enough room for each student in class.

In all of five the classes handled by the Program Assessment Coordinator from Fall 2006 to date, all students had many chances to recite, do board work and make presentations. This is one advantage of classes having a small size.

Student Seat Cost

The college has not yet come up with a specific student seat cost.

Because of this, a rough estimate of the Average Seat Cost/Student was computed. This is computed by (1) deriving the ratio of the TYC Accounting Core Courses to the total number of classes offered by Business Division for the Academic Year 2010-2011, (2) apportion the total division budget based on the ratio in (1), and then finally, (3) divide the amount in (2) by the total number of students enrolled in all courses. The computation is shown in the table at the next page.

It must be noted that MS 150, which is offered from Fall to Summer with several sections, was not taken into consideration because it is a major requirement in most programs.

*COM-FSM Catalog, IRPO Enrollment Data and FY2011 Performance Budget
^http://www.comfsm.fm/myShark/

Course Completion Rate

AC 320 (Intermediate Accounting I)

1. Success Rate Trend

* IRPO
^ Instructor’s grading sheet

It can be observed from the graph above that there was a significant drop of successful students in 2008, and that the difference between the % of students earning C and higher, and the % of students earning D and higher is 30%.

However, the success rates picked up in 2009 and 2010, although in 2010, most 2/3 of the students enrolled earned D.

Quality of Completion Rates

To have a better understanding of the characteristics of the success/failure rates of the students, let us concentrate on the breakdown of final grades for each semester and their respective percentages:

AC 325

1. Success Rate Trend

As what can be observed, just like in the previous program review, the significant drop in the success rate happened in 2008. In 2009, there was even a 100% success rate and then, in 2010 was reduced by less than 30%.

The success rate increased in 2010 because students in this class were determined to earn better grades. In 2009, the rate decreased because two students had a hard time balancing class and work pressures.

1. Quality of Completion Rates

Looking further into the success rates of students in AC 325, let us focus on the percentages of students by their final grades:

CONCLUSIONS ON OVERALL COMPLETION RATES OF COURSES OFFERED IN FALL:

By getting the average percentages of students earning final grades of A, B, C, D, F and Withdrawn by each semester, and by computing their respective percentages to the total, the table below can be constructed.

AC 321

A. Success Rate Trend

The graph indicated a steady increase in success rates until 2009, and increased again in 2010. Please note that in 2009, the students who were very much challenged in AC 320 of the preceding term were the same ones enrolled in this course for this term.

B.Quality of Completion Rates

Now, let us examine the details of the success rates of students in AC 321 by relating the table below and the graph immediately after it.

As what can be seen on the table, the grade with the highest percentage is C (86%). Then, the same thing happened in 2010 (67%).

Then, it is followed by B (24%). In the year 2006, most students got B (50%). Then the following year, 33% of the students got B.

F placed 3rd highest percentage (17%). This is primarily because of the 43% failing rate in 2009, and 33% in 2006.

It is important to note that the average failing rate (17%) for this five-year is even greater than that of those getting D. This is even greater than the one in the previous program review (14%).

AC 330

A. Success Rate Trend

As what can be observed from the graph above, there was a very good success rate during this five-year period.

Except in 2009, there was a 100% success rate. More importantly, there was a 100% of students earning C and higher in 2008 and 2010.

The only snag in this otherwise remarkable success story is that in 2009, only half of the class passed the course. This is the batch of students who had so much difficulty overcoming a great obstacle – inadequate skills and competency in basic accounting courses.

B. Quality of Completion Rate

Now, let us take a peek at the quality of completion rates to have a more solid conclusion on the completion rates of this course.

As what can be noticed from the table above, most students got a grade of B in 2008 and 2010, with C close behind. In 2006 and 2007, most students got C, with B immediately trailing by.

It was just in 2009 when the failure rate equaled the success rate, with 50% of students earning F, 33% got C and 17% had D.

AC 370

A. Success Rate Trend

This course usually have a 100% success rate, except in 2008, because one student was not able to complete the internship period and he happened to form part 14% of the class.

B. Quality of Completion Rate

The success rate is better understood by looking at the breakdown of grades and their respective percentages.

From the table in the preceding page and the trend graph shown above, there is a high tendency toward the grades A and B.

Some students who enrolled in this course got C (22%). The year 2007 (57%) provided the most number of students with this grade and then, 2008 follows closely behind with a 29% percentage.

It is also worth noting that there was only one student who failed this class.

BU/MS 310

A. Success Rate Trend

Again, there could have been a 100% success rate, with most students earning C or higher. Only that in 2009, the success rate fell down to 84.62%.

B. Quality of Completion Rate

Let us then look closer at the composition of completion rates by analyzing the number and percentages of students’ grade from year to year.

As what can be perceived from the table and graph above, the reason the trend was discontinued because two of the students in 2009 failed the class and they happen to be 15% of the class. Of the students who failed, one had a difficulty balancing her work-family-academic life, and the other was a returning student, who needed a lot of catching up for basic concepts she had already forgotten.

CONCLUSIONS ON OVERALL COMPLETION RATES OF COURSES OFFERED IN SPRING:

To further analyze the performance levels of the classes by semester, let us first get the total students from each course with final grades of A, B, C, D, F and Withdrawn, and solve for their respective percentages to the total.

From the table above, it is obvious that most enrollees across the semesters earned a grade of B (38%). This is primarily because of the much highest percentages of the students this grade in 2007 and 2008.

Then, C closely follows with 27%. It cannot be more than the percentage of students getting B, because for most part of the five-year period, its percentage for the year is less than that of B’s percentages
The overall failure rate was only 8%, despite the 27% failing rate in 2009. This is because there were only 8% and 4% failing rate in 2006 and 2008, and 0% in 2007 and 2010.

Student Satisfaction Rate

***Data is not available.

Employment and Transfer Data

***There is no available information.

Program’s Student Learning Outcomes

Graduates of the TYC Accounting should be able to:

1. Demonstrate knowledge of Intermediate Accounting by describing the environment and the conceptual framework of financial reporting; analyzing financial statements and accounting for cash and receivables; inventories; property, plant and equipment; intangibles; liabilities; stockholders’ equity; and other special topics on financial reporting,

2. Show an understanding of Cost Accounting concepts relevant to managerial decision-making, planning and control by solving problems involving various costing and budgeting methods; by applying financial, inventory and production management techniques in cost accounting, and by accurately measuring short and long-run organization performance,

3. Demonstrate familiarity of a wide range of tax concepts with special focus on the taxation of business entities in the United States and the Federated States of Micronesia and a minor emphasis on individual taxation in the two countries,

4. Exhibit competence in analyzing and recording transactions for state, local and the federal government; colleges and universities and other nonprofit organizations; in preparing and interpreting financial statements; and in explaining differences in private and public sector accounting,

5. Apply knowledge and skills acquired from accounting and other courses by solving real world accounting and general workplace problems in a participating organization in the COM-FSM Internship Program, and

6. Express an appreciation of statistical methods of sampling and estimating population statistics and competence in using computer software to calculate point estimates and confidence intervals and use statistical methods to test hypotheses, recognize trends and make forecasts to support decisions in the business/economics environment.

Student Learning Outcomes

The highlights of the Course Level Assessments are as follows:

Findings and Recommendations

1. Program Admission Requirements

 

Existing	Recommendations	Justification
Graduate of any AS Degree	None Recommended
Minimum GPA of 2.50	None Recommended
Minimum Grade of C in Business Administration and AS Core Courses,	Repeated any or all of these accounting courses only twice with a minimum grade of B on the last try. To better apply this policy, 1. Advisors shall look in both the DEGREE COMPLETION AND ONLINE TRANSCRIPT of their advisees. 2. The programmer shall install in the SIS this system requirement and a user warning to warn OARR personnel and advisors of any student who cannot qualify in the program, and 3. In special cases, only the administrator password can override this system requirement.	This revision is primarily because of the tragedy that happened in Fall 2008, where a sizable percentage of students enrolled in the program for this term needed more skills in and mastery of 100 and 200 level accounting courses to prepare them for 300 level accounting courses. Some of these students managed to get admitted into the program even when they repeatedly took accounting courses and earn a grade of C and D, after failing the course on the first try and the nth attempt. The system requirement is for strict compliance with this policy, so that no student can take advantage of the SIS system’s weaknesses and limitations
Admitted by the COM-FSM Admissions Board	None Recommended

2.Program Degree Requirements

-

EXISTING				RECOMMENDATIONS					JUSTIFICATIONS
Course No.	Course Title	Unit Credits	Prerequisites	Course No.	Course Title.	Unit Credits	Prerequisites	Remarks
AC 320	Intermediate Accounting I	3	Accounting II and Managerial Accounting	AC 320	Intermediate Accounting I	4	Managerial Accounting		Accounting II is one of the pre-requisite courses of Cost Accounting. To better train students, they need to have more time to solve and be exposed to as much types of problems, as much as possible. Although most students earned B and C, but then, they might still need a lot of catching up to do in higher level accounting courses, let alone obtain a professional license in foreign countries.
AC 321	Intermediate Accounting II	3	Intermediate Accounting I	AC 321	Intermediate Accounting II	4	Intermediate Accounting I		For the same reason cited in the case of Intermediate Accounting I, it is important to build on the basic knowledge that students acquired in much more basic accounting courses and the more complex details of accounting for intangible assets, investments, liabilities, owner's equity and other special topics. This course shall have four units of credit so that the students will have enough time to sharpen their problem-solving skills (laboratory), with the guidance of their instructor.
AC 325	Cost Accounting	3		AC 322	Managerial Accounting	4			There is a need to rename the Course Title because Managerial Accounting involves quantitative aspects of discharging managerial functions, which are discussed in this course. This change in the number of units is important because there is a need for the students to gain mastery in the course and enough time to sharpen their skills in problem solving through laboratory sessions.
AC 330	Taxation	3						None recommended.
AC 335	Government Accounting	3						None recommended.
AC 370	Accounting Internship	3						None recommended.
BU/MS 310	Applied Statistics	3						Make CA 105 a prerequisite course.	Students have difficulties applying spreadsheet application.
	Any Q & LR/WC & Humanities Course	3		AC 340	Constructive Accounting	3	AC 250		Constructive Accounting or otherwise known as forensic accounting will enable Third Year Students sharpen their knowledge in the nature and behavior of various accounts and hone their skills in reconstructing accounts. This course will prepare them in correction of errors and auditing, when a bachelor's degree in accounting will be offered sometime in the future.
	Any Q & LR/WC & Humanities Course	3		CA 105	Data Analysis Using Spreadsheets	3			This course will come in handy for FIN 312, and BU/MS 310 topics
	Any Q & LR/WC & Humanities Course	3		FIN 312	Corporate Finance				This course is as useful to General Business Majors as to Accounting Majors because a lot of important quantitative corporate decision-making tools, which are important to future audit/management consultants, are taken here.

3.Program Outcomes 

-

Findings	Recommendations	Justification
The Average Class Size is 7.20. This is less than the required minimum of 10 students per class.   The Average Seat Cost is $727.12	Since there is a unconfirmed proposal to totally scrap the program, and that students openly voice out their concerns on the difficulty of successfully graduating from the program, If this purported proposal is not yet decided upon, an intense advertisement, to the college and the community at large, can be made to diminish the adverse effect of this bad publicity.   Conduct official surveys to potential program enrollees. Offer modular trainings in TYC Accounting courses, and once a student completed everything, he/she will be able to earn the degree. Be open to offer a Bachelor’s Degree in Accounting, even without having a tie-up with a neighboring university for as long as the required courses for graduation are the same.	Bad publicity will always have an adverse effect on any business organization, especially for an educational institution. The college administration has to address this matter soon.   The purpose of this is to gain an awareness of the potential students’ preferences on how to finish the program. This will enable full-time students, part-time student-workers, and people working eight hours/day to attend classes. Since students have to focus on one course at a time, they would have better chances of completing the course. This could be a factor why smart students, who have interest in accounting, have reservations on pursuing TYC Accounting in the college, because they cannot earn their bachelors’ degree here.
Relatively low success rates in: AC 320 AC 321 AC 325	Increase the units of credit from 3 to 4.     To also address this problem, do recommendations 2 and 3 on the previous page.	This is to further enable students to sharpen their problem-solving skills,   These recommendations are for the same reasons stated in the previous page.
Low graduation rates	Perform recommendations 2, 3 and 4.	For the same reason stated in the previous page, and to enable students to earn their degree whenever work-family life would permit.
No Institutionalized Seat Cost Computation	The college should come up with an official computation of the seat cost.	This is to have a uniform seat cost computation.

4. Students Satisfaction Rate

-

Findings	Recommendations	Justification
There are no data on student satisfaction rate that are readily available	The VPIA shall designate people who shall determine measures of and gather information on student satisfaction. a. This study shall be conducted by personnel who have a background as an educator in the field of business and accounting, and b. This study shall be carried out by personnel, whose objectivity to the case may not be questioned. He/she shall be anyone who does not form part of business division faculty nor of the curriculum committee, which is tasked at approving the courses of each program. Then, the IRPO shall request reports on student satisfaction from the Office of the VPIA and upload the same on the net so that this data may be used for planning and decision-making at the end of every term.	It is very important that the objectivity of the person conducting the survey on student satisfaction so that there will be less questions as to the reliability and validity of the results.

5.Employment Data

-

Findings	Recommendations	Justification
There is no data available on employment of graduates.	The Alumni Office shall be strengthened so that it can keep track of alumni updates from them on a yearly basis. This office shall also analyze the data and provide this information to the IRPO every year. The IRPO shall ensure that this data shall be available to interested users at any time through the net.	This data is very important so that the college will be able to monitor the employability of its graduates, it can provide employment support and facilitate better networking among CCM/COM graduates.

6. Employer Satisfaction Rate

-

Findings	Recommendations	Justification
Data on employer satisfaction rate is not available.	The college shall also yearly check with the government and the private sector the latter’s current employment needs in their respective accounting divisions so that there shall be other means of reassessing this program. The Office of the VPIA, in close collaboration with the Business Division Chair, shall designate personnel to handle this task. This person shall periodically report the same to the VPIA, who shall furnish the same to Business Division Chair for appropriate action. This same report shall also be furnished to the IRPO so that it may be available to certain internet users.	There is a need for the college to annually gather information on employer satisfaction of fresh graduates of this program so that it will have a more solid basis on assessing the quality of graduates and their ability to meet the skills and knowledge requirements of the employers on the job.

7. Transfer Rate

-

Findings	Recommendations	Justification
Transfer rate data is also not available to date.	The Alumni Office, along with the Office of the Admissions and Records, shall be given a boost in order that data on student transfer shall be provided to the IRPO every semester. Data required shall include reasons for transfer and other information related to transfer from the college. The IRPO shall take charge of distributing this data to interested users at any time.	This information is very much needed because dissatisfaction as to the quality of education provided by the college may not be available from student satisfaction survey. This is also needed to keep track of students who transfer to other institutions of higher learning abroad and those who transfer to universities in other nations while without finishing their degree in COM.

8. Program Review

-

Findings	Recommendations	Justification
It is just recently that this Program is evaluated to comply with the requirements of the WASC Accreditation Committee.	The Program shall be reviewed once every two years	A periodic review is necessary to make sure that this Program can meet the current job market demand and satisfy transfer requirements for institutions to which graduates regularly transfer. This is also necessary so that it can be updated with the new trends in business and accounting. In addition, a periodic review is necessary because it will enable the working committee on any proposed changes in the curriculum make appropriate suggestions to accommodate offering a bachelor’s degree program in accounting.

Unit Assessment Report

Report Period: 2013-2014