DYNAMICS of a NEW CURRICULUM James E. Sorensen, Ph.D., CPA School of Accountancy University of Denver RESPONDING TO OUR CUSTOMERS

School of Accountancy MISSION ENLIGHTENED PRACTICE PROFESSIONAL ACHIEVEMENT COMMITMENT to COMMUNITY COMMITTEE GOALS MEET the SOA MISSION INCREASE ENROLLMENT: majors/minors

School of Accountancy COMMITTEE GOALS CONTINUE TO MEET 150 HOUR REQUIREMENT OFFER VIABLE and DESIRABLE DUAL MAJOR OR MAJOR/MINOR OPTIONS PROVIDE MORE GRADUATES TO THE CORPORATE ACCOUNTING SECTOR MAINTAIN STRONG PERFORMANCE ON POST- GRADUATE PROFESSIONAL EXAMS ENHANCE THE MARKETING OF OUR PROGRAM

School of Accountancy IMPACT OF IMA STUDIES WHAT CORPORATE AMERICA WANTS IN ENTRY LEVEL ACCOUNTANTS PREPARATION GAP -- SEE INSERT (1994) THE PRACTICE ANALYSIS OF MANAGEMENT ACCOUNTING WORK ACTIVITIES THAT WILL INCREASE IN IMPORTANCE-- SEE INSERT (1996) COUNTING MORE, COUNTING LESS --(1999) transformations in management accounting

Figure 1 PREPARATION GAP Source: What Corporate America Wants in Entry Level Accountants, Management Accounting, Sept. 1994

Figure 2 WORK ACTIVITIES THAT WILL INCREASE IN IMPORTANCE Source: The Practice Analysis of Management Accounting, 1996, p.14; Counting More, Counting Less…, 1999, p. 17. x x x 1 x 5 2 x x yrs More Most time critical New!

School of Accountancy MANAGEMENT ACCOUNTING PROFIT MANAGEMENT ORGANIZATIONAL COST MANAGEMENT STRATEGIC COST MANAGEMENT FORMULATION OF DESIGN TEAMS DEVELOP NEW PROGRAM MODULES TEST, EVALUATE AND REDESIGN DEPLOY NEW REVISED PROGRAM

School of Accountancy YEAR THREE INTERNAL REPORTING PROCESS EXTERNAL REPORTING PROCESS MANAGEMENT CONTROL TAXATION CONCEPTS OF FEDERAL TAXATION FAMILY TAXATION BUSINESS TAXATION

School of Accountancy FINANCIAL REPORTING FINANCIAL REPORTING ENVIRONMENT CORPORATE FINANCIAL REPORTING BUSINESS COMBINATIONS BUSINESS AUDITING PROFESSIONAL AUDITING FRAUD AUDITING

PROPOSED RESTRUCTURING OF FOUR AND THREE/TWO PROGRAMS ENTRY LEVEL CORE COURSE (GATEWAY] BSBA CORE CYCLES FAMILY TAXES TECHNOLOGY FINANCIAL REPORTING ENVIRONMENT CONCEPTS OF FEDERAL TAXATION BUSINESS TAXES ORGANIZATIONAL COST MANAGEMENT STRATEGIC COST MANAGEMENT APPROACH EXTERNAL REPORTING PROCESS CORPORATE FINANCIAL REPORTING BUSINESS COMBINATIONS TECHNOLOGY MANAGEMENT CONTROL PROFIT MANAGEMENT INTERNAL REPORTING PROCESS (SYSTEMS) INTEGRATED APPLICATIONS WORKSHOP SCHOOL OF ACCOUNTANCY CURRICULUM REVIEW COMMITTEE PROPOSED RESTRUCTURING OF FOUR AND THREE/TWO YEAR PROGRAMS DRAFT---DRAFT--DRAFT PROFESSIONAL AUDITING BUSINESS AUDITING THE ACCOUNTING PROFESSION

Proposed Restructuring

Examples of new key approaches: Quality tools manipulate verbal data enhance problem solving Strategic planning models useable (BSC) and gold standard (Hoshin Kanri) Tools for complex multi-criteria problems with both quantitative and qualitative data AHP (theory) and Expert Choice (computer tool: Case Protocols

How to Achieve Total Customer Satisfaction PROCESS IMPROVEMENT IMPROVED PRODUCT QUALITY EFFECTIVE TRAINING Set and review quality levels for internal and external customers Seek out process problems

How to Achieve Total Customer Satisfaction PROCESS IMPROVEMENT IMPROVED PRODUCT QUALITY EFFECTIVE TRAINING KNOWLEDGEABLE CUSTOMER RELATIONSHIP EFFECTIVE MARKETING ALIGN REWARDS & RECOGNITION

Balanced Scorecard … A strategic measurement system, not a measure of our strategy Larry D. Brady, Executive VP, FMC corporation

Balanced Scorecard Based on a 2 year study by the Harvard Business School Used by leading companies like Intel, Johnson & Johnson, Chemical Bank...

Balanced Scorecard How is this company doing? How will they be doing in the future?

Balanced Scorecard How is the same company doing with BSC? How will they be doing in the future? What is happening?

Balanced Scorecard How is this company doing using BSC? How will they be doing in the future? What is happening?

Balanced Scorecard

Hoshin Kanri: Defining The Terms HOSHIN = policy, a plan, an aim, or goal + means KANRI = planning, management or control Popular translation: policy deployment

In Organization Wide Planning, It Provides A step-by-step PLANNING IMPLEMENTATION and REVIEW PROCESS for MANAGED CHANGE using the PLAN-DO-CHECK-ACT (PDCA) cycle.

AHP and EXPERT CHOICE Appropriate for complex multi-criteria problems using both quantitative and qualitative data Analytic Hierarchy Process (AHP)the way people think by using comparisons Expert Choice (computer software) Web site: for explanations and free trial versionwww.expertchoice.com

Using Protocols in Cases Provides comprehensive feedback to studentsnot just one or two scribbled comments (see Word file: Sumitomo Protocol [Sumitomo Electric Industries, HBS] following these slides.) Enables students to revisit case to identify additional relevant pointspromotes mastery learning Operates like a one-to-one consultation with the professorpromotes a linkage often not possible with large classes (See PowerPoint file: Sumitomo Protocol following these slides)