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College of Micronesia - FSM

Third Year Certificate of Achievement in
Accounting or General Business

Fulfillment of A.S. degree requirements (minimum cumulative GPA—2.50; minimum grade of C in business administration A.S. major courses).

Program Learning Outcomes

Upon completion of the 3rd Year Certificate program in Accounting, students will be able to:

1. Demonstrate knowledge of intermediate accounting by describing the environment and the conceptual framework of financial reporting; properly preparing and analyzing various financial statements; and show familiarity with the generally accepted accounting principles on cash and receivables, inventories, property, plant and equipment, intangibles, liabilities, stockholders’ equity, and other special topics in accounting for private business.

2. Express familiarity with 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.

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

4. 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.

5. Show 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.

Program Learning Outcomes – 3rd Year General Business

Upon completion of the 3rd Year Certificate Program in General Business, students will be able to:

1. Demonstrate an understanding of basic concepts in organizational behavior, including things such as personality, individual differences, motivation, leadership, conflict, communication, group dynamics, power and politics, change, organizational structure, design and culture and cultural diversity by explaining how these concepts relate to performance and job satisfaction in the organization.

2. Demonstrate an understanding of the intricacies of marketing planning and overall marketing strategy; the sequential nature of marketing and the importance of monitoring mechanisms; and the scope of comprehensive marketing in light of current technological developments.

3. Demonstrate an understanding of the concepts underlying corporate financial decision-making – such as capital structure, capital budgeting, short-term asset management, dividend policy, financial analysis, corporate restructuring – and how these decisions affect other areas of the firm.

4. Demonstrate an understanding of the role of entrepreneurship and small business in the (FSM) economy and show competence in basic business planning and in identifying opportunities and challenges that entrepreneurs and small business owners/managers face – both in FSM and in general – in trying to achieve their business objectives.

5. Demonstrate basic knowledge of international business by discussing its importance and explaining its theoretical foundations. The student will also be expected to describe the international economic and financial environment; the role of government, culture, politics and laws in international business; and analyze issues in management, marketing, finance, human resources, accounting and taxation.

6. Demonstrate an understanding of economic development issues faced by least developed countries (LDCs) and options for development. Such issues will include, among others, foreign aid to LDCs, unemployment, urbanization and population growth, all with special emphasis on FSM.

7. Demonstrate an understanding 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.

General Education Core Requirements - 9 credits

Quantitive and Logical Reasoning (9 Credits)

Three (3) General Education courses chosen from the following areas: Quantitative and Logical Reasoning

• World Cultures and History
• and Humanities.

Students may choose one course from each area or two courses from one area and one
course from another area

• Quantitative and Logical Reasoning (3)
• World Cultures and History (3);
• Humanities (3)

Major Requirements - 21 Credits

Accounting (21 Credits)

• AC 320 Intermediate Accounting I (3)
• AC 321 Intermediate Accounting II (3)
• AC 325 Cost Accounting (3)
• AC 330 Taxation I (3)
• AC 335 Governmental and Non-Profit Accounting (3)
• AC 370 Accounting Internship (3)
• BU/MS 310 Applied Statistics (3

OR

General Business (21 Credits)

• BU/MS 310 Applied Statistics (3)
• ECO 320 Economic Development (3)
• FIN 312 Corporate Finance (3)
• MGT 320 Organizational Behavior (3)
• MGT 350 International Business (3)
• MGT 360 Entrepreneurship and Small
• Business Management (3)
• MKT 311 Marketing Strategy (3

Graduation Requirements - 30 Credits

Accounting (30 Credits)
General Business (30 Credits)

Suggested Schedule

First Semester (FALL)

Second Semester (SPRING)