Academic Program Review Self Study Template accredit the Tobin College of Business and all its...

Academic Program Review Self-Study Template AY 2009 - 2010

TCB_ACC_ACCT_MS_SI Self-Study Template page 1

ITEMS FOR REFLECTION FOR EACH STANDARD CAN BE FOUND AT http://www.stjohns.edu/about/ir/apr

1. Reporting School/College: Peter J. Tobin College of Business 2. Program Reviewed: Accounting MS SI 3. Date Submitted to Department/Division Chair:

Overview: (Suggested limit 1 page) This section will focus the review for your reader. Please summarize your program’s mission and its relationship to the mission of St. John’s University, your Department and School/College Strategic Plan, and the University’s 2008-2013 Strategic Plan. Identify similar programs regionally and nationally and distinguish your program from them. Also summarize your findings as they relate to (1) market growth potential, (2) program quality, and (3) student learning. And, summarize any significant changes, achievements (by faculty and students and the program itself), and plans for the future. Known as the “language of business,” accounting is an excellent background for anyone planning a career in business. Employment opportunities are extensive for students who hold an accounting degree. Accounting majors find employment opportunities in public accounting firms, private and public companies, federal, state, and local governments and not-for-profit organizations. They obtain positions in financial reporting, consulting, internal and external audit, operations, and in many other areas.

St. John’s University has been preparing students for entrance into the accounting profession since 1870 when the Vincentian community first established St. John’s College on Willoughby Street and the Rev. Peter V. Byrne, C.M. , began offering courses in bookkeeping to children of immigrants. In 1879, a separate commercial course of study was established within St. John’s College, and in 1912, the Vincentian community established the School of Commerce to offer professional certificate bearing programs in accounting, law and other business areas. The School of Accounting, Commerce, and Finance, now The Peter J. Tobin College of Business, began offering degree programs in accounting and other business subjects in September 1927. As an operating unit within the Tobin College of Business, the Department of Accounting and Taxation is dedicated to preparing its students with the knowledge and skills necessary for professional careers in accounting, taxation, and related fields. In all its endeavors, the Department is dedicated to fostering academic excellence, moral leadership, professional responsibility, and social awareness in the Vincentian, Catholic tradition. AACSB–International and the Middle States Association of Colleges and Universities both accredit the Tobin College of Business and all its programs, including the Accounting program. The Department obtained separate accounting accreditation from the AACSB–International for its programs in April 2004 and was successfully reaffirmed in April 2009.

http://www.stjohns.edu/about/ir/apr



The Accounting program was designed to meet, by requisites and prerequisites, the requirements for licensure as a Certified Public Accountant in the State of New York. Those regulations were changed to stipulate that a total number of credits (150 credits) is required for certification, with the minimum number of credits in professional accountancy (33 credits) and general business (36 credits) and the maximum number of credits in professional accountancy and general business combined (90 credits). Anticipating this change, the Department initiated several 5-year combined-degree programs, combining the BS accounting degree with an MS or MBA degree so that students would achieve the 150-credit threshold to qualify for certification and simultaneously earn a masters-level degree. The Department of Education of the State of New York approved the re-registration of Department’s programs, and those programs have been implemented since the fall of 2002. The MS degree programs are intended to provide students with the specialized technical knowledge in accounting or taxation while the MBA degree programs also provide the broad business knowledge and cross-functional decision-making skills, which are necessary for graduates to advance their careers in the profession of public accountancy or in managerial positions in industry, government and not-for-profit organizations. The MBA programs differ from the MS programs in that they require additional courses, which are offered by other departments within the Tobin College of Business. In addition, the APC programs enable graduate students who already possess a Master’s degree to pursue advanced studies in public accounting, controllership, and taxation. The APC programs require fewer accounting or tax courses than the MS degree programs. The graduate accounting courses for the MS, the MBA, and the APC programs are the same for all programs in public accounting. Standard 1. The purpose of the program reflects and supports the strategic vision and mission of St. John’s University and of its School/College. (When responding to this standard, please see Items for Reflection under this Standard.) 1a. Narrative: (Suggested limit 1 page)

The purpose of the MS Accounting program reflects and supports the strategic vision and mission of St. John’s University and of the Tobin College of Business. In its own mission, the Department states that it “is dedicated to fostering academic excellence, moral leadership, professional responsibility and social awareness in the Vincentian, Catholic tradition.”

The Department faculty endeavors to serve the Catholic community in various ways, as well as to imbue its courses with Catholic principles. Professional ethics is an integral part of all accounting and tax courses, and several case studies on ethical behavior are utilized in all accounting and tax courses. We attempt to develop not only the competencies, but the values necessary for leadership.

Numerous service opportunities are available to students in the undergraduate Accounting program in the Vincentian tradition: academic service learning options in



various courses, participation in the Voluntary Income Tax Preparation (VITA) program, service events through the Beta Alpha Psi honor society and other accounting organizations.

The MS Accounting program is entrenched in the metropolitan environment in which we operate. New York urban issues permeate our classes. The majority of our faculty, students, and advisors live in the New York metropolitan area and probably have worked, or will work, there as well. Many of our students have internships in the metropolitan area.

1b. What activities provide evidence that the program furthers the Catholic identity of St. John’s University? (Suggested limit 1/3 page)

• In its mission, the Department states that it “is dedicated to fostering academic excellence, moral leadership, professional responsibility and social awareness in the Vincentian, Catholic tradition.”

• A Department faculty member is involved in preparing and delivering lectures at both the Dunwoodie Seminary and the Huntington Seminary on accounting procedures and controls. The lectures are designed to assist pastors in managing their parish financial and reporting obligations.

• The Catholic Accountants Guild of Brooklyn awards a scholarship each year to a St. John’s accounting student.

• The Department promotes its programs as part of a Catholic university and has established articulation agreements with other Catholic colleges. For example, the Department has articulation agreements with St. Joseph’s College, Siena College, Marymount Manhattan College, and has begun discussions with Manhattan College.

• The Department promotes its programs as part of a Catholic university and has performed program reviews and curriculum reviews for Siena College and Iona College.

• Several faculty members actively participate or have participated on parish Finance Committees. These committees are designed to assist pastors in the financial affairs of their parishes.

• Professional ethics is an integral part of all accounting and tax courses. Professional ethics are taught in all auditing courses and are tested extensively on the Uniform CPA examination. Several case studies on ethical behavior are utilized in all accounting and tax courses.



1c. What activities has the program undertaken to provide evidence of support for the Vincentian tradition and values? (Suggested limit 1/3 page)

• The Department encourages and supports SI students’ participation in VITA (a voluntary income tax assistance program designed to help the underserved) and other academic service-learning activities. During the spring 2009 tax season, the program had 60 volunteers, who volunteered approximately 3.5 hours per week over 12 weeks, aggregating 2,500 service hours. The volunteers prepared approximately 600 income tax returns, generating nearly $1 million in income tax refunds for these clients. The 2010, the VITA program earned over $8 million dollars in refunds, and over 80 students participated in the program in two locations. The 2009 and 2010 VITA experience received much publicity, including network TV, ABC Eyewitness News.

• Several faculty members volunteer their time to assist not-for-profit organizations and use their expertise to advise organizations whose aim is to assist the disadvantaged.

• The Department has a separate chapter of Beta Alpha Psi on the Staten Island campus. Beta Alpha Psi is a national scholastic and professional accounting fraternity. The primary objective of the fraternity is to encourage and give recognition to scholastic and professional excellence in accounting and related fields. To be inducted as a member of Beta Alpha Psi, a student must participate in at least one community service activity, and most students participate in many community service functions.

• The Department has been able to solicit scholarships from accounting firms and has awarded them to students based on the student’s financial need and academic excellence. Nearly one-third of them are awarded to Staten Island students. Several students have also been selected as recipients of private scholarships (i.e., the New York State Society of Certified Public Accountants, etc.) that were made available to them through the Department.

1d. What activities provide evidence that the program promotes the metropolitan character of the University? (Suggested limit 1/3 page)

• Our proximity to New York City's business center opens enviable opportunities for real-world experience prior to graduation. Internship programs have been established so that our students may obtain professional experience with the accounting firms in the metropolitan area.

• Students in the program also get the opportunity to hear speakers drawn primarily

from the New York metropolitan area. These speakers often provide insights into working and living in the metro area.



• The Executive Advisory Board established by the Department comes from the metropolitan area, and many have global accounting and tax practices.

• The Department is very active with the New York State Society of Certified Public Accountants. Faculty members are on the board of the Queens chapter of that organization and one faculty member is on the board of the NYSSCPA at the state-wide level.

Standard 2. The program engages in ongoing, systematic planning that is reflective of the University and School/College strategic direction and priorities. (When responding to this Standard, please see Items for Reflection under this Standard.) 2a. Narrative: (Suggested limit 1 page) The following planning process for the Department’s Strategic Plan was recommended by the AACSB visitation team when the Department first obtained separate accreditation and it will become the planning process of the School of Accountancy. The Department planning process is the responsibility of the Department’s faculty. The Department Personnel and Budget Committee (P&B), in consultation with the chairs of the various Department committees, articulates drafts of the Strategic Plan and annually distributes an Action Plan for each committee at the beginning of the academic year. The Department Strategic Plan builds on, and is consistent with, the Department Mission and Vision Statements that were developed by the Department Faculty. The initial Strategic Plan for the Department was articulated to the Faculty in 1988 and has been subsequently revised and amended. In February 2001, the goals and strategies were amended and approved by the faculty and subsequently delivered to and discussed with the Department’s stakeholder groups, most especially the Executive Advisory Board. The process for reviewing the Department’s Strategic Plan is as follows. Each faculty member is given a copy of this document for his or her individual input and suggestions. In May of each academic year, a faculty retreat is held to discuss the current planning document, obtain additional feedback from the faculty as to initiatives and to obtain their approval, when appropriate. Copies of the approved document are forwarded to the Executive Advisory Board and the Department Personnel and Budget Committee meets with the Executive Advisory Board during the fall semester to obtain their comments and suggestions. The Department Chair provides the leadership of the various accounting student organizations with copies of the Strategic Plan and meets with them and their memberships during the fall term. Suggestions made by the Executive Advisory Board and the presidents of the accounting student organizations are provided to the Department’s faculty and where appropriate they are incorporated into the plan. Copies of the strategic plan are also delivered to the Dean of the College and the Provost of the University. Their suggestions are also incorporated as appropriate and the Department faculty votes to approve the amended document. A copy of the Department’s Strategic



Plan is placed on the Department’s website and is delivered to the members of the Executive Advisory Board and other stakeholders. Each of the Department’s faculty members has the ability to recommend additional initiatives during the regular Department faculty meetings and if approved by the faculty, the initiatives are incorporated into the Strategic Plan. On an annual basis the faculty consider the strategic plan during the annual retreat. Suggested modifications are made and if approved by the faculty are incorporated into the document and distributed to stakeholders. 2b. How does your program's strategic goals/objectives link to your School/College plan and the University’s 2008-2013 Strategic Plan, specifically related to Mission, Student Engagement, and Globalization. (Suggested limit 1 page) Mission

The Accounting program’s strategic objectives align perfectly with the University’s priorities as articulated in the 2008-2013 Strategic Plan. The Mission of the Department is as follows:

The Department of Accounting and Taxation prepares students for professional careers in accounting, taxation and related fields. In all its endeavors, the School is dedicated to fostering academic excellence, moral leadership, professional responsibility and social awareness in the Vincentian, Catholic tradition.

Student Engagement The Department holds several open departmental meetings each year, which both students and faculty attend. Partners from the large accounting firms award scholarships to students, and there is ample opportunity for students to mingle with faculty and professionals. Additionally, speakers from these firms address our students on current developments in both the metropolitan and global arenas. Accounting firms that come on campus to talk to our students and hire them come from the metropolitan area—and many have global practices. Guest speakers from businesses within the metropolitan area are invited to address our students in extra-curricular activities and in our classes.

Globalization • Accounting and tax courses focus on U.S. generally accepted accounting

principles; however, international financial reporting standards and practices are also discussed and integrated into our curricula. The Department regularly offers graduate accounting students the courses ACC 645, International Financial Reporting Standards and ACC 646, Analysis of Foreign Financial Statements. ACC 646 examines various financial accounting topics of foreign entities and focuses on the analysis of the financial statements of major trading countries, the impact of international trade and cross border financing on harmonization of accounting standards (International Financial Reporting Standards).



• The Department has founded a Global Institute for Taxation (GIFT) to study U.S. and international tax reform, and has also sponsored a tax conference where papers on international tax issues were selected and published in the proceedings.

• The Department is considering the feasibility of offering a Master of Science (M.S.) degree at the Rome campus. The program would teach international financial reporting standards, international auditing standards, and international tax. Graduates would have the required course of study to be able to sit for and successfully complete the CPA examination in the U.S. Such graduates would have worldwide demand as every U.S. multinational corporation and public accounting firm needs such accountants at all of their foreign locations.

2c. How does your program’s strategic goals/objectives link to the University’s institutional focus to “transform the institutional culture to one in which the quality of how we serve our students both in and out of the classroom is exceptional.” (Suggested limit ½ page)

The continual review of the Department’s Strategic Plan enables us to assess, and modify if necessary, the experience offered to our students so that it continues to be exceptional, both in and out of the classroom. For instance, to better serve our students, the Department developed combined-degree BS-MS and BS-MBA programs when the undergraduate Accounting program alone no longer met the educational requirements for licensure as a certified public accountant (CPA) in the State of New York.

The goal of the graduate Accounting program is to provide students the technical competence for entry into the accounting profession, impart an attitude of continuous professional development, and promote moral, professional responsibility and social awareness. The program emphasizes professional education and graduates obtain entry-level positions in private industry, not-for-profit organizations, or federal, state, and local governments.

2d. Describe the process for implementing program goals/objectives. (Suggested limit ½ page) Please refer to 2a above for a description 2e. What activities undertaken by the program provide evidence of monitoring the external and internal environment, specifically, what are the strengths, weaknesses, opportunities and threats facing this program? How were these identified? What actions have been taken in response to these findings? What characteristics of the program suggest a competitive edge against other programs regionally and nationally? (Suggested limit ½ page)



The Sarbanes-Oxley Act of 2002 has significantly increased the workload of accountants and greatly accelerated enrollment in accounting education. High quality programs emphasizing knowledge, analytical skills, and professional judgment, as well as ethics and integrity are in great demand.

The Departmental GEPC monitors the external environment. The faculty have close ties to the New York State Society of CPAs, and are immediately updated on changes in accounting education regulations, as well as accounting procedures promulgated by the Financial Accounting Standards Board and the Securities Exchange Commission. All syllabi are frequently updated to reflect the dynamic changes in the business world, such as the inclusion of International Financial Accounting Regulations, as mentioned above. Strengths

• Catholic identity. • Well-credentialed faculty. • Very experienced faculty. • Very strong research record. • Growing and well-publicized Volunteer Income Tax Assistance (VITA) Program. • Strong ties to professionals in the tri-state area.

Weaknesses

• Almost all undergraduate Accounting program students at SI go into 5-year combined-degree programs. It becomes difficult to serve the few who remain in the BS program, who must often sit in graduate classes and be given modified assignments. This impacts the quality of the classes for the MS Accounting students, as well as the undergraduates.

• There are few full-time faculty who teach at the SI campus, so students may have multiple courses taught by the same instructor.

Opportunities • Restructure the Department of Accounting and Taxation as a School of

Accountancy that will seek external funds for a center for accounting research and technology, endowed chairs, student scholarships, academic research, and faculty development.

• Enhance web profile of the Department including updated faculty bios, with vitae, program offerings, communications (internships, events, news, applications, course descriptions, textbook requirements, and protected course outlines/syllabi).

• Promote selective mission driven activities (VITA, financial literacy, and EIRP).

• Promote a schedule and an environment that allows for academic success. Improve schedule flexibility to avoid course bunching, improve student choice, and promote a schedule that supports academic work. Build in the schedule a time when attendance is required at presentations and provide other activities that enhance academics.



• Hire additional Ph.D. accounting faculty who also have professional licenses. In order to improve academic excellence, excellence attracts excellence.

• Expand the Department’s offering of on-line graduate courses and eventually

allow for the M.S Accountancy program to be offered on-line. Using the on-line platform may be an effective strategy to target non-traditional aged students who would like to return to education to update their skills, but are unable to do so due to a restrictive work schedule.

• Emphasize our licensure qualifying academic programs in New Jersey to attract New Jersey residents to the Staten Island campus as potential students. Because the Department has the highest level of AACSB-International accreditation, its programs are licensure qualifying in New Jersey.

Threats • The largest threat facing the Staten Island campus comes from the lower cost

alternative offered by the City University of New York’s College of Staten Island campus. Wagner College is also a significant competitor with better facilities.

2f. What is the market growth potential for the program? What internal and/or external sources support your response? (Suggested limit ½ page) The Bureau of Labor Statistics, in its 2010/11 Occupational Handbook, projected changes in those occupations related to accounting and auditing as increasing by about 22%. The employment of accountants and auditors is expected to grow much faster than average. Standard 3. The program provides a high quality curriculum that emphasizes and assesses student learning and engagement. (When responding to this Standard, please see Items for Reflection under this Standard.) 3a. Please indicate how the program curriculum is in alignment with the following three items: (Suggested limit 1 page)

1. Disciplinary standards 2. The 2008-2013 Strategic Plan areas of focus (Mission, Engagement,

Globalization) 3. The University Core competencies

Disciplinary standards The Department follows a rigorous planning strategy to ensure that the ever-changing standards of the discipline are met (see 2a). Direction is sought through external relationships regarding disciplinary standards. The Department is very active with the New York State Society of Certified Public Accountants. Faculty members are on the



board of the Queens chapter of that organization, and one faculty member is on the board of the NYSSCPA at the state-wide level. In addition, the Executive Advisory Board established by the Department advises on changing needs in the workplace. Performance of our graduates on the Uniform Examination for Certified Public Accountants is an external measure that is monitored.

The 2008-2013 Strategic Plan areas of focus (Mission, Engagement, Globalization)

See 2b.

The University Core competencies

Each of the program Objectives/Outcomes established in WeaveOnline is linked to the AICPA’s core competencies, which almost exactly parallel the University Core competencies, as follows:

1. Identify, measure and summarize financial information (Information Literacy) 2. Analyze exposures and risks (Critical Thinking) 3. Model data for decision making (Information Literacy and Critical Thinking) 4. Communicate and report findings (Writing and Oral Presentation) 5. Research technical issues (Information Literacy) 6. Leverage technology (Information Literacy) 7. Recognize appropriate professional behavior (Social/Psychological Dimensions of

Human Behavior) 3b. Please describe the comprehensive assessment model currently implemented for the 2009-2010 academic year for the program through WeaveOnline. Be sure to include how many objectives have been indicated for each program, the number of objectives being measured with findings and action plans for this assessment cycle, and the time it will take in this model to complete assessment of all objectives. (Suggested limit ¾ page) As an outgrowth of our team visit and accreditation in 2004, we began to focus on direct measures of student learning. We decided to utilize the AICPA’s core competencies as our program goals and established learning outcomes based on the level of course work. We established the following program goals: (a) identify, measure and summarize financial information; (b) analyze exposures and risks; (c) model data for decision making; (d) communicate and report findings; (e) research technical issues; (f) leverage technology; and (g) recognize appropriate professional behavior. In this way, under our program goals, the learning outcome of a graduate course could be at a higher level in Bloom’s taxonomy than one in an undergraduate course. We concluded, as a Department, that an upper-level course should contain those learning outcomes included in all prior courses but also add an additional higher-level outcome unique to that course. The Department also decided to focus on the functional competencies as outlined in the AICPA’s core competencies because the College and the University were also developing program goals and learning outcomes and they were focusing on the personal and broad-business competencies.



WEAVEonline® serves as the primary repository for the Department’s ongoing assessment activities. Currently, the faculty has loaded into WEAVEonline® for all undergraduate and graduate: program missions, program goals, learning outcomes, measurements, and assessment criteria. Findings and action plans are entered as soon as possible after the examinations’ findings are submitted and the faculty hold Department meetings during the next semester to discuss the results and action plans.

In addition, required and elective courses have been mapped to the learning outcomes of each program. During the 2007-2008 and 2008-2009 academic years, questions were embedded into examinations of required courses and the findings recorded in the system.

3c. From the 2008-2009 Assessment Plan (WeaveOnline) indicate what action plans the program has implemented to meet indicated targets. (Suggested limit ½ page) During fall 2008 semester, the faculty met to discuss the findings and action plans were devised and entered into WEAVEonline®. Even though embedded questions and the results are available for semesters prior to the spring 2008 semester, it was decided that there was little benefit in going back to enter past data.

Targets have been met for many of the MS Accounting courses. For those where the target is not met or is only partially met, Action Plans have been implemented. For instance, in ACC 515, the introductory pre-requisite course, the Department questions whether the current practice set is appropriate, and another is being sought. For ACC 623, auditing, the Department decided to develop assignments to help ensure that students understand managements' assertions and the specific audit objectives relating to those assertions and for faculty to expand in-class discussions of assertions. It was also decided that the textbook would be changed. For ACC 632, the Action Plan called for the faculty to develop an appropriate rubric to measure student learning of research skills.

Standard 4. The program has the faculty resources required to meet its mission and goals. (When responding to this Standard, please see Items for Reflection under this Standard and complete the following chart(s).) 4a. Narrative: (Suggested limit 1 page)

St. John’s is one of the very few Universities worldwide that has separate accounting accreditation from the AACSB-International. Less than 3% of all accounting programs worldwide have attained this distinction. Separate AACSB-International accreditation allows the University’s accounting programs to be licensure-qualifying in several states. For example, the St. John’s accounting program is licensure qualifying in New Jersey and in many other states because of its accreditation. Our accreditation has strengthened our reputation worldwide.

During the past five years, the programs offered by the Department of Accounting and Taxation have steadily increased in enrollment. The Department is now at the point



where it does not have the faculty resources to seize opportunities or expand its programs. During the fall 2009 semester, the overall percentage of full-time faculty in the Department was 75.1%, a mere 0.1% above the required minimum to maintain AACSB-International accreditation. With three full-time faculty retiring immediately and two full-time faculty leaving at the end of this academic year, the Department does not have adequate resources. To support the accreditation, several full-time faculty members have agreed to teach expanded class sizes with 75 students in a class—which is not a sustainable strategy and is not consistent with the University or College Missions. In the past five years, and for the foreseeable future, the Department uses course overloads to help maintain the coverage ratio. The additional course requirement to faculty schedules has affected their research productivity, and this assignment is particularly burdensome to non-tenured faculty who need to demonstrate their research productivity to obtain tenure.

Overall - Accounting and Taxation Programs Fall

2005 Fall 2006

Fall 2007

Fall 2008

Fall 2009

Number of Accounting Courses Offered Per Semester

83 87 91 89 97

Student Credit Hours Taught 5257 5402 6497 6931 7414 Percentage of Full-Time Faculty 67.7 70.2 69.5 79 75.1 Percentage of Part-Time Faculty 32.3 29.8 30.5 21 24.9 Average Class Size 23.5 23.0 24.7 27 26.6 FTE Faculty Assigned to Programs 25.5 27 28.41 28.08 30.16 The overloads occur on the SI campus as well, which means that students have even more exposure to the same few faculty members who regularly teach on the SI campus.

4b. What is the student to full-time faculty ratio based on number of majors and minors in the program and the number of full-time faculty assigned to the program? For full-time faculty assigned to the program, please provide the most recent year and previous years if available. The number of majors and minors can be found below. Full-time faculty by program is only available through departmental records. Please complete the table below and provide additional information in 4e if that may help to explain the pattern of this ratio.



# Majors/

FT Faculty

Fall 2005 Fall 2006 Fall 2007 Fall 2008 Fall 2009

FT PT Total FT PT Total FT PT Total FT PT Total FT PT Total M.S. Public Accounting -

Majors 0 9 9 0 3 3 2 4 6 1 9 10 12 0 12 # of FTE Students 0.00 3.00 3.00 0.00 1.00 1.00 2.00 1.33 3.33 1.00 3.00 4.00 12.00 0.00 12.00

MBA Public Accounting

Majors 17 2 19 16 1 17 19 3 22 22 0 22 14 1 15 # of FTE Students 17.00 0.67 17.67 16.00 0.33 16.33 19.00 1.00 20.00 22.00 0.00 22.00 14.00 0.33 14.33

Total Graduate Accounting – Staten Island

Majors 17 11 28 16 4 20 21 7 28 23 9 32 26 1 27 # of FTE Students 17.00 3.67 20.67 16.00 1.33 17.33 21.00 2.33 23.33 23.00 3.00 26 26.00 0.33 26.33 # of FTE Faculty assigned

to the program** 1.58 1.33 1.67 1.58 1.67

FTE Student/

FTE Faculty

Ratio*** 13.08 13.03 13.97 16.46 15.77

Fall 2010 Fall 2011 Fall 2012 Fall 2013

# of FTE faculty assigned to the program

FTE Student/FTE Faculty Ration




F Total F Total F Total F P Total

Majors Majors Majors Majors Majors Majors Majors Majors Majors

MAJORS 13 13 16 16 11 11 8 1 9


F Total F Total F Total F P Total

FTE FTE FTE FTE FTE FTE FTE FTE FTE

Total FTE MAJORS 13 13 16 16 11 11 8 0.333 8.333

Important Notes: FTE Students = Number of FT Students + (number of PT Students/3) FTE Faculty = Number of FT Faculty + (number of PT Faculty/3) This methodology is used by STJ for all external reporting. Total FTE Faculty for the Department of Accounting and Taxation as a whole for fall 2009 was 25.67. These faculty members serve graduate and undergraduate majors and non-majors on the Queens and SI campuses, as well as graduate majors and non-majors on the Manhattan and Rome campuses.

*The number of students is low because most students qualifying for the 5-year combined accounting degree program in Staten Island elect the BS/MBA option. **The number of FTE faculty assigned to each Accounting program on each campus was calculated based on the actual number of courses and credit hours taught for the respective programs for the five years under review. Graduate Accounting courses are comprised of students from both the MBA and MS programs, and therefore the # of FTE faculty assigned to the program had to be estimated. The estimated number of FTE Faculty reported in the table represents above is for the two Staten Island-based graduate programs combined - MS Accounting and MBA Public Accounting.

***Because fourth-year undergraduate students in the combined degree programs are enrolled in graduate courses, the Department assigned more of its faculty to graduate courses. However, the University does not include these students in the majors or number of FTE students in graduate programs in the table above. Therefore, the FTE faculty to student ratios are misleading and should be considered together with the undergraduate ratios.



If your department provides service instruction to support the core curriculum, please explain in the context of student credit hours taught, 4c, and courses taught, 4d, and 4e below. 4c. How many credit hours has the department delivered by full-time faculty? How many credit hours has the department delivered by part-time faculty (including administrators)? What percent of the total credit hours consumed were by non-majors?

Credit Hours Fall 2005 Fall 2006 Fall 2007 Fall 2008 Fall 2009 Taught # % # % # % # % # %

FT Faculty 3550 68% 3718 69% 4576 71% 5602 81% 5488 74% PT Faculty 1698 32% 1669 31% 1906 29% 1312 19% 1905 26%

Total 5248 100% 5387 100% 6482 100% 6914 100% 7393 100%

% consumed

by Non-

Majors

32% 32% 29% 41% 22%

Credit Hrs Taught Fall 2010 Fall 2011 Fall 2012 Fall 2013

Number Percent Number Percent Number Percent Number Percent

F-T Faculty 5,751 77.1% 4,571 66.6% 4,621 76.5% 4,684 79.0%

P-T Faculty (inc Admin) 1,706 22.9% 2,293 33.4% 1,423 23.5% 1,245 21.0%

0.0% 0.0% 0.0% 0.0%

Total 7,457 100% 6,864 100% 6,044 100% 5,929 100%


% Consumed by Non-Majors

1,620 21.7% 1,446 21.1% 1,344 22.2% 1,431 24.1%

4d. How many courses has the department delivered by full-time faculty? How many courses has the department delivered by part-time faculty (including administrators)?

Courses Fall 2005 Fall 2006 Fall 2007 Fall 2008 Fall 2009 Taught # % # % # % # % # %

FT Faculty 56 68% 59 70% 65 73% 66 79% 71 73% PT Faculty 26 32% 25 30% 24 27% 18 21% 26 27%

Total 82 100% 84 100% 89 100% 84 100% 97 100%



Courses Taught Fall 2010 Fall 2011 Fall 2012 Fall 2013

Number Percent Number Percent Number Percent Number Percent

F-T Faculty 69 76.7% 80 70.2% 80 79.2% 80 80.8%

P-T Faculty (inc Admin) 21 23.3% 34 29.8% 21 20.8% 19 19.2%

0.0% 0.0% 0.0% 0.0%

Total 90 100% 114 100% 101 100% 99 100%

As a result of the department’s success in obtaining and maintaining separate accounting accreditation from the AACSB-International, the department must maintain a 75% threshold of full-time faculty in all of its programs, which it has failed to do in all years but 2008. 4e. Narrative: Provide any additional information about the student (majors & minors)/full-time faculty ratio, credit hours delivered and courses taught by full-time and part-time faulty that may be helpful to understand the noted trends above. (Suggested limit ½ page). The Department of Accounting and Taxation is well-positioned to place students after graduation, especially with respect to its reputation and contacts in the metropolitan business environment. Recent efforts to revitalize connections with alumni have also been very successful. However, the growing student-faculty ratios for full-time faculty and the need for overloads to maintain full-time faculty coverage ratios make growth impossible without additional faculty. It would be advantageous to rotate Queens faculty to Staten Island to provide diversity, but their deployment is constrained by the demands of other Department programs. The # of FTE faculty was virtually the same in fall 2009 as it was in fall 2005, despite the fact that the total credit hours taught increased by 41% over the same timeframe. This has resulted in extraordinarily large class sizes and an unsustainable level of overload assignments. Although the Accounting faculty do not support the University core, they do support two courses in the undergraduate business core as well as one course in the graduate pre-requisite sequence and electives in both the bachelors and masters programs. Despite careful scheduling, assignment of overloads, and very large class sizes, coverage by Participating faculty (essentially full-timers) is still below the required AACSB threshold of 75%, although it was well above 75% on the Staten Island campus. However, since Accounting programs are separately accredited by AACSB, the 75% threshold must be present in all Accounting programs on all campuses. The data presented in Section 4 suggests that the Accounting Department needs additional full-time faculty to reduce overloads and reduce class size, while increasing required levels of Participating faculty to meet AACSB requirements.



4f. Explain the representative nature of faculty in terms of demographics, tenure and diversity? (See departmental information on next page) In 2009, all of the full-time faculty members are tenured (81%) or non-tenured tenure-track (4 members, 19%). Over the five years, the percentage of female faculty members has fluctuated from 22% to 30%. The ethnic make-up of the Department is predominantly White, with three Asian faculty members and two undeclared. Four of the faculty members teach regularly on the Staten Island campus: two female, two male. One of them (male) has taken the VSO and will not be returning in fall 2010.



Departmental Data

2005 2006 2007 2008 2009 FT PT Total FT PT Total FT PT Total FT PT Total FT PT Total # % # % # % # % # % # % # % # % # % # %

Gender

Male 14 74% 11 61% 25 14 70% 14 78% 28 15 71% 11 73% 26 14 70% 9 82% 23 15 71% 12 86% 27

Female 5 26% 7 39% 12 6 30% 4 22% 10 6 29% 4 27% 10 6 30% 2 18% 8 6 29% 2 14% 8 Total 19 100% 18 100% 37 20 100% 18 100% 38 21 100% 15 100% 36 20 100% 11 100% 31 21 100% 14 100% 35

Ethnicity

Black 1 5% 0 0% 1 0 0% 1 6% 1 0 0% 0 0% 0 0 0% 2 18% 2 0 0% 2 14% 2 Hispanic 0 0% 0 0% 0 0 0% 0 0% 0 0 0% 0 0% 0 0 0% 1 9% 1 0 0% 0 0% 0

Asian 3 16% 1 6% 4 0 0% 3 17% 3 3 14% 1 7% 4 3 15% 1 9% 4 3 14% 1 7% 4 White 15 79% 14 78% 29 17 85% 10 56% 27 17 81% 13 87% 30 16 80% 6 55% 22 16 76% 10 71% 26

Unknown 0 0% 3 17% 3 3 15% 4 22% 7 1 5% 1 7% 2 1 5% 1 9% 2 2 10% 1 7% 3 Total 19 100% 18 100% 37 20 100% 18 100% 38 21 100% 15 100% 36 20 100% 11 100% 31 21 100% 14 1000% 35

Tenure Status

Tenured 16 84% 16 18 90% 18 18 86% 18 17 85% 17 17 81% 17 Tenure-Track 3 16% 3 2 10% 2 3 14% 3 3 15% 3 4 19% 4

Not Applicable 0 0% 0 0 0% 0 0 0% 0 0 0% 0 0 0% 0 Total 19 100% 19 20 100% 20 21 100% 21 20 100% 20 21 100% 21



2010 2011 2012 2013

FT PT Total FT PT Total FT PT Total FT PT Total

# % # % # % # % # % # % # % # %

Gender Male 14 70% 9 82% 23 15 71% 12 75% 27 17 71% 11 92% 28 18 72% 12 100% 30

Female 6 30% 2 18% 8 6 29% 4 25% 10 7 29% 1 8% 8 7 28% 0% 7

Total 20 11 31 21 16 37 24 12 36 25 12 37

Ethnicity Black 0% 2 18% 2 0% 2 13% 2 0% 3 25% 3 0% 1 8% 1

Hispanic 0% 0% 0 0% 0% 0 0% 0% 0 0% 1 8% 1 Asian 3 15% 1 9% 4 3 14% 3 19% 6 5 21% 2 17% 7 5 20% 3 25% 8 American Indian/Alaskan Native 0% 0% 0 0% 0% 0 0% 0% 0 0% 0% 0

White 17 85% 7 64% 24 17 81% 10 63% 27 18 75% 6 50% 24 19 76% 7 58% 26 2 or More Races 1 1 1 Native Hawaiian/Pacific Islander Unknown 0% 1 9% 1 0% 1 6% 1 0% 1 8% 1 0% 0% 0

Total 20 11 31 21 16 37 24 12 36 25 12 37

Tenure Status

Tenured 15 75%

15 15 71%

15 15 63%

15 16 64%

16 Tenure-Track 3 15%

3 4 19%

4 7 29%

7 8 32%

8

Not Applicable 2 10%

2 2 10%

2 2 8%

2 1 4%

1

Total 20 20 21 21 24 24 25 25



4g. What evidence exists that the program’s faculty have engaged in research and scholarship on teaching or learning in the program’s field of study? (Suggested limit ½ page) All but one faculty member now holds a terminal degree and she is close to completion of her doctorate. Sixteen accounting faculty members hold doctorate degrees, while three tax faculty members have earned LLM degrees in taxation, which is the terminal degree in the area of taxation.

All of the faculty members holding the LLM degree are considered academically qualified by the AACSB-International, as are all faculty members that hold doctorate degrees. However, of the faculty members with doctorate degrees, only three tenured and three non-tenured faculty members hold their doctorates in Accounting. The other nine Department faculty members who hold doctorate degree have obtained their Ph.D. degrees in other business fields (i.e., finance, economics, public administration) or hold their doctorates in an accounting-related field (i.e., accounting education). The Department would prefer to hire additional faculty members with Ph.D. degrees in accounting.

The intellectual contributions of the Department faculty over the last five years have been impressive. They have published 198 peer-reviewed journal articles, 28 monographs, 4 books, and 13 chapters in books. They have presented papers at 112 academic conferences and had all 112 papers published in peer-reviewed conference proceedings. Several faculty members have presented papers at the American Accounting Association’s annual meeting, the top conference in the discipline. Their papers have been widely cited. They have numerous works in progress at all stages of completion. Several faculty members have presented their research to the Department or at the College Research seminars.

Nearly all of the accounting and tax faculty members are also professionally qualified, as that term is defined by the AACSB-International. They maintain professional licenses and complete the required hours of Continuing Professional Education. 4h. What initiatives has the program initiated in the past five years to promote faculty development? (Suggested limit ½ page) The Department has a faculty development program that includes:

• Faculty members team up to co-author journal articles for publishing and for preparing papers for presentations and proceedings. Faculty presentations and publications have risen as a result of this initiative. The Department faculty has taken responsibility to seek out and provide articles for special issues of the Review of Business each year.

• The Department obtained software from the Financial Accounting Standards Board (FASB), the American Institute of Certified Public Accountants (AICPA)



and the International Accounting Standards Board (IASB) that provides current standards that are accessible on-line.

• Faculty members have received many research grants, teaching awards and merit awards. Faculty members have attended education seminars provided by the Center for Teaching and Learning and the Professional Development and Training Center.

• Three full-time faculty members have completed doctoral studies in an effort to advance their ability to conduct scholarly research, improve their pedagogical skills and become leaders in the development of accounting, audit and assurance, information technology and tax curricula.

• There has been financial support for conference/seminar participation and training programs.

4i. The table below shows the amount of external funding received by the department.

External Funding

Fiscal Year 04/05 05/06 06/07 07/08 08/09

$ Amount Program

$ Amount Department

External Funding

Fiscal Year 09/10 10/11 11/12 12/13

$ Amount Program

$ Amount Department

-

-

-

-

If available, please provide the dollar amount of externally funded research for full-time faculty supporting the program under review. (Program dollar amounts are only available through departmental records.) Comments (Suggested limit ½ page) Standard 5: The program attracts, retains, and graduates high quality students. (When responding to this Standard, please see Items for Reflection under this Standard.)



5a. Narrative: (Suggested limit 1 page) The academic profile of Staten Island graduate students has increased over time, with GMAT scores rising from 469 in 2005 to 488 in 2009. GMAT scores for MS Accounting students in Staten Island are not disaggregated from the College average for the years covered under the review.

Enrollment in the Accounting MS Staten Island has fluctuated somewhat, from 9 students in 2005 to 6 students in 2007 to 12 students in 2009. The number of degrees conferred has changed accordingly over the same timeframe. Note that this number is small because most students qualifying for the 5-year combined accounting degree programs in Staten Island elect the BS/MBA option. An AACSB- International study reports that the number of business and management master’s degrees conferred in the U.S. increased steadily from 1996-97 through 2006-07, suggesting that the national market demand for business education is very strong. The study also reports that over 43.5% of enrollment in specialized Masters programs in 2008-2009 was in part-time programs, which is the basic structure of the TCB graduate programs. Finally, the study reports that approximately 65% of business schools offer a specialized Masters degree in Accounting. The Council of Graduate Schools (CGS) reports that enrollment for first-time graduate students in Accounting increased 8.6% from 2003 to 2008 and 13.6% from 2007-2008, while total graduate enrollments in Accounting increased 6.6% from 2003-2008 and 5.8% from 2007-2008. 5b. Undergraduate SAT and High School Average 5c. Undergraduate 1st Year Retention Rates 5d. Undergraduate 6 Year Graduation Rate 5e. Graduate Standardized Test Scores

Fall 2005 2006 2007 2008 2009

Program School/College Average Rate 469 516 495 488

Regional Comparison N/A N/A N/A N/A N/A

National Comparison N/A N/A N/A N/A N/A



Fall 2012 Fall 2013

Ir Gmat Scor Ir Gmat Score

MS Accounting S 443 420

Fall 2012 Fall 2013

Ir Gmat Scor Ir Gmat Score

Peter J.Tobin Col of Bus-GR SI 488 477

General test percentage distribution of scores within intended graduate major field that is based on the profile of GMAT candidates, 2011-12. GMAT® Degree Pursued Gender 2010-11 2011-12

Master's of Accountancy (MA)

Men: Number 7,737

7,951 Mean Total Score

531 528

Women: Number

8,966 9,926

Mean Total Score

527 531

Total: Number 16,703 17,877

Mean Total Score 529 530 5f. Narrative: Please describe how your program compares with your peer and aspirational institutions. (Suggested limit ½ page) The program compares very well when compared to the programs of our peer institutions. The program offers students a solid foundation in accounting and provides opportunities for internships and networking with accounting professionals. The program reflects the needs of the dynamic global environment, and it emphasizes the importance of social responsibility. The academic profile of SI graduate students has improved over time, with GMAT scores increasing from 469 in 2005 to 488 in 2009. Comparisons to peer and aspirant institutions are based on business-school data reported to AACSB International for the 2008-2009 reporting cycle. According to these data, TCB GMAT scores from Staten Island are lower than all peers, except C.W. Post, and significantly lower than aspirants. [Note: Comparisons to peers and aspirants could only be made at the program level (i.e., graduate business); data were not available to make comparisons at the major level (i.e., MS Accounting)].



GMAT scores at Staten Island fall short of the mean (555) and median (555) scores reported by AACSB for 2008/09 for the 185 business schools worldwide reporting data for part-time evening and weekend MBA programs. 5g. If applicable, describe your program’s student performance over the past 5 years on licensure or professional certifications exams relative to regional and national standards. (Suggested limit ¼ page)

Students from the graduate Accounting program may take the Uniform Certified Public Accountants’ Examination during their last year. In 2004, the CPA Exam changed to a computerized format, and individual parts could be taken during two of the three months each quarter. Successfully completed parts count toward completion for 18 months; after that time, if all four parts have not been completed successfully, the parts that become more than 18 months old drop off and must be re-taken. The number of Tobin students taking at least one part of the CPA exam in 2004 was 163; 2005 was 141; 2006 was 106; 2007 was 166. In 2004, fewer than 1% of TCB students passed all four parts; in 2007, 25.0% passed all four parts. The number of students passing at least one part of the exam was 57.9% in 2004 but only 24.1% in 2007. Compared to other schools in the region from 2004 to 2007, Tobin students consistently performed better than CUNY Queens, CUNY Baruch, and Adelphi; performed on a par with Hofstra and Pace; and were generally surpassed by aspirant schools Fordham and NYU.

5h. Number of majors and minors enrolled over the past five years? Please complete the table below. Fall

Number of Students 2005 2006 2007 2008 2009 Majors 9 3 6 10 12 Minors 0 0 0 0 0 Total 9 3 6 10 12




Majors Majors Majors Majors

ACC2 MS 13 16 11

MAJORS ACC MS 2

ACC2 MS 7

Total 13 16 11 9

5i. Number of degrees granted during the past five years. Please complete the table below.

Degrees Granted

Academic Year 04/05 05/06 06/07 07/08 08/09

MS 4 7 2 6 10

10/11 11/12 12/13

Degrees

Conferred Degrees

Conferred Degrees

Conferred

TCB-GR-SI ACC2 Accounting MS 13 15 12

5i (1). Below is comparison degrees conferred data for local and national institutions based on data retrieved from the IPEDS website. This is based on the Classification of Instructional Program (CIP) Code of 52-Business, Management, Marketing, and Related Support Services.

2009-2010

2010-2011

2011-2012

Master's

Local 4,898 5,532 5,719

National 177,684 187,213 191,571

1Local institution include: Adelphi University, Columbia University, CUNY Queens College, Fordham University, Hofstra University, Iona College, C.W. Post University, Manhattan College, New York University, Pace University, Seton Hall University, Stony Brook University, and Wagner College.

5i(2). Fastest growing occupations and occupations having the largest numerical increase in employment by level of education and training projected.



Fastest Growing Occupations

Change, 2010-20 Occupations having the largest numerical increase in employment

Change, 2010-20

Percent Numeric Percent Numeric

Bookkeeping, Accounting, and Auditing Clerks

14% 259,000 Bookkeeping, Accounting, and Auditing Clerks

14% 259,000

Accountant and Auditors

16% 190,700

Projected Changes in Related Occupations (2010 – 2020) Grow faster than average - Increase 15 to 20.9%

Changes, 2010-20 Percent Numeric

Bookkeeping, Accounting, and Auditing Clerks 14% 259,000

Accountant and Auditors 16% 190,700

*For more information please visit: http://www.bls.gov/news.release/ecopro.toc.htm

5j. Narrative: How do these trends compare to institutional, regional and national patterns? (Suggested limit ¼ page) Enrollment in the Accounting MS Staten Island has fluctuated somewhat, from 9 students in 2005 to 6 students in 2007 to 12 students in 2009. The number of degrees conferred has changed accordingly over the same timeframe. Note that this number is small because most students qualifying for the 5-year combined accounting degree programs in Staten Island elect the BS/MBA option. Regional comparisons According to 2008-2009 data from AACSB International on business-school enrollment, TCB graduate enrollment was higher than enrollment at peer institutions/regional competitors, except for CUNY Baruch (which charges much lower tuition), Fordham, and Pace. Furthermore, TCB had a higher percent of international students (approx. 34%) than all peers, except for Pace, which had 37%. The regional pattern of graduate degrees conferred in Accounting (as per IPEDS Completions data based on CIP code) shows an overall increasing trend. TCB patterns are consistent with regional competitors. TCB consistently conferred more graduate Accounting degrees between 2003 & 2007 than Fordham, Hofstra, and C.W. Post, and moved ahead of Pace in 2004 and 2007.

http://www.bls.gov/news.release/ecopro.toc.htm



National comparisons According to 2008-2009 data from AACSB International on business-school enrollment, TCB graduate enrollment is on par with aspirant, Notre Dame, and falls in the middle when compared with other aspirant institutions (TCB graduate enrollment is higher than American, Temple, and Wake Forest and lower than Boston University and Georgetown). Furthermore, had a higher percent of international students (approx. 34%) than all peers and aspirants except for Pace, which had 37%. An AACSB- International study reports that the number of business and management master’s degrees conferred in the U.S. increased steadily from 1996-97 through 2006-07, suggesting that the national market demand for business education is very strong. The study also reports that over 42% of MBA enrollment in 2008-2009 was in part-time evening and weekend programs, which is the basic structure of the TCB graduate programs. Finally, the study reports that approximately 65% of business schools offer an MS in Accounting. Furthermore, the Council of Graduate Schools (CGS) reported that in fall 2008, the broad fields of education and business enrolled the largest numbers of first-time graduate students, with 23% of all first-time enrollees in education and 16.9% in business. CGS further reports that education and business were the largest broad fields with regard to master’s degrees conferred, accounting for 28.6% and 23.4% respectively. Finally, CGS reports that although the largest one-year change in graduate applications occurred in health sciences, with a 13.1% increase between fall 2007 and fall 2008, strong growth was also seen in business, which experienced a 12% increase in applications. CGS also reports that enrollment for first-time graduate students in Accounting increased 8.6% from 2003 to 2008 and 13.6% from 2007-2008, while total graduate enrollments in Accounting increased 6.6% from 2003-2008 and 5.8% from 2007-2008. 5k. What mechanisms are in place to monitor students’ progress toward degree? And, to what extent is there a collaborative effort to provide quality advising and support services to students. (Suggested limit ¼ page) Monitoring of student progress is provided by the Advisement Office in Staten Island. This Office provides advisement and support services to all TCB students at SI. Students who take graduate courses at TCB are monitored by Dean’s Office personnel, supplemented by the Accounting and Taxation Department faculty advisors. Standard 6. The program has adequate resources to meet its goals and objectives. (When responding to this Standard, please see Items for Reflection under this Standard.) Although financial data is not available at the program level, departmental information is provided below for your reference.



Department Information - Earned Income/Direct Instruction Expense Ratio (FY 2013 data not yet available) FY 2004 FY 2005 FY 2006 FY 2007 FY 2008 $ From Grants

Earned Income from Instruction

6,723,552 7,082,085 7,989,299 8,556,504 10,854,481 (by student credit hours taught)

General Fees (includes lab fees)

303,585 353,658 372,361 413,799 591,880 Direct Instructional Cost 3,004,000 3,240,000 3,260,000 3,659,000 4,000,000 (Departmental Budget) Earned Income/Direct Instructional Expense Ratio

2.34 2.29 2.56 2.45 2.86



FY 2009 FY 2010 FY 2011 FY 2012

$ FROM GRANTS

-

-

-

-

EARNED INCOME FROM INSTRUCTION (By student credit hours taught) 11,946,710 8,976,590 14,117,924 13,736,757

GENERAL FEES (includes Lab Fees) 705,806 789,425 773,851 760,685 DIRECT INSTRUCTIONAL COST (Departmental budget) 4,250,000 4,385,000 4,097,000 4,600,000

EARNED INCOME/DIRECT INSTRUCTIONAL EXPENSE RATIO 2.98 2.23 3.63 3.15

6a. Narrative: (Suggested limit 1 page)

The contribution of Accounting and Taxation programs to the University’s bottom line has increased from 2.34 in FY 2004 to 2.86 in FY 2008. Direct revenue is nearly three times greater than direct expense. Given the strong market potential and the high contribution margin, the program may be a candidate for investment in order to increase market share.

6b. To what extent has the University funded major capital projects, e.g., renovations, which are linked directly to the program during the past five years? (Bulleted list.)

The University has not funded any major capital project or renovation during the past five years that can be directly linked to the accounting or taxation programs.

Standard 7. The program has taken effective actions based on the findings of the last program review. (When responding to this Standard, please see Items for Reflection under this Standard.)



7a. Narrative: (Suggested limit 1 page) At the last Program Review, enrollment in accounting and tax programs had dropped significantly over the years studied, consistent with national trends. However, as the state had instituted the 150-credit requirement for certification, it was determined that demand for the MS Accounting would grow. The recommendation was to enhance the 5-year combined-degree programs, of which the MS Accounting program is a part, on both the Queens and Staten Island campuses. This enhancement has not been realized in terms of faculty resources. The number of full-time faculty members in the Department has declined over the review period, even though the MS Accounting program has increased its enrollment exponentially, as predicted. In fact, the overall trend has reversed, and there has been significant growth in enrollment in accounting and taxation programs over the last five years.

Despite the decrease in faculty and the increasing student-faculty ratios, there have been significant enhancements made to the programs. Separate accreditation from AACSB-International for the accounting programs, and the recent re-accreditation, has been achieved. The curriculum has been consistently updated to reflect current pronouncements and professional needs. The faculty profile has greatly improved, in terms of terminal degrees held, academic and professional qualifications, and intellectual contributions. As noted in the program review, further enhancement will depend on resources allocated.

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