Southwest Baptist University; Department of Accounting--Annual Assessment Report for 2004-2005
The accounting department serves two constituents: (1) COB&CS majors who need a broad understanding
of accounting/financial management, its impact on the organization, and an ability to use accounting and
financial information to make business decisions, and (2) Accounting majors who need everything in #1 plus
an advanced understanding of accounting and financial management principles in preparation for a career in
the accounting field.  Based on this focus, the department has streamlined its goals and curriculum in the
past year to better serve its constituents.  The goals have been reduced from three to two and are as follows:
Goal 1:	To develop for the COB&CS student an understanding of accounting and financial management to
	use in making decisions in the business environment.
Goal 2:	To develop an advanced understanding of accounting and financial management principles for
	students preparing for a career in the accounting field.
Within these goals, the department strives to "integrate faith into our discipline" of accounting & taxation.  This
is primarily accomplished through ethics discussions of individual problems in texts or related sources. An
example of such discussion items is attached.  Discussion of ethics in accounting & taxation is "natural" since
fair reporting of financial and tax information is crucial to any economic system.
How is "Goal #1" accomplished?
1. This goal is broadly accomplished by requiring ALL COB&CS majors to take a "principles" course in both
Financial Accounting and Managerial Accounting.  Previously, 2 groups in the College (Public Relations & CIS)
were not exposed to Managerial Accounting.
2. More specific aspects of this goal are accomplished as noted below (documentation attached as needed):
	SUBSET OBJECTIVES					ACCOMPLISHED BY:
A. By the study and application of financial accounting					A. Classroom lecture, the use of problems in class &
principles.					via homework, examinations (ACC 2013).
B. By completing a practice set working through the					B. Monopoly Project (ACC 2013).
complete accounting cycle.
C. By the study & preparation of financial statements.					C. Monopoly Project & problems in class/homework (ACC 2013).
D. By the use of accounting in basic financial					D. Problems in homework/class and examinations &
statement analysis.					"Annual Report Project" (ACC 2013).
E. By studying the elements of the balance sheet					E. Classroom lecture, problems in homework/class &
(Assets=Liabilities + Equity) and related income					examinations (ACC 2013, ACC 2043).
statement accounts and the effect of these elements
in business decision-making.
F. By the study of managerial accounting principles &					F. Classroom lecture, the use of problems in class &
their application to business decision-making.					via homework, case studies (ACC 2043).
G. By emphasizing the use of Excel spreadsheets as					G. Homework cases/exercises that require "real life"
a business decision-making tool.					application of Excel (ACC 2013, ACC 2043).
Evidence of the COB&CS Goal #1 is also indicated in the continued "above average" achievement of COB&CS
12/04 & 5/05 seniors on the accounting portion of the national business assessment exam with a score 12%
above the national average (49.9/44.6)---see attached.
How is Goal #2 Accomplished?
H. By a concentrated study of financial accounting					H. Classroom lecture, extensive homework, quizzes,
concepts & their use to the internal & external user					examinations, practice set (ACC 3024, ACC 3034, ACC 4013).
of financial statements.
I. By a concentrated study of cost accounting					I. Classroom lecture, extensive homework, Excel
concepts & their application to management in making					exercises, examinations (ACC 3023).
business decisions.
J. By a comprehensive study & application of auditing					J. Classroom lecture, extensive homework, cases,
principles required for financial statement audits.					examinations, practice set (ACC 4044).
K. By the study of federal income tax laws applied to					K. Classroom lecture, extensive homework, quizzes,
individuals organizations (also estate, gift).					tax returns, examinations (ACC 3063, ACC 3073).
L. By the study of not-for-profit accounting principles &					L. Classroom lecture, extensive homework, practice
the preparation of related financial statements					set, examinations (ACC 4053).
M. By the exposure to and familiarization with recent					M. Cases, practice sets (ACC 3024, ACC 3033, ACC 3063).
accounting, tax, and spreadsheet software and
applications & their use in business decision-making.
N. By intensive preparation for the CPA exam for					N. CPA Review course involving the correct answering
interested students.					of almost 6,000 questions.
O. By learning EACH DAY via daily "on-time" quizzes					O. Students who are "on-time" get the chance to think
in selected classes.					and pick up extra credit.
P. By exposing students to the world around them so					P. Students in selected ACC major classes will have
they can see how their coursework may apply in the					summarized over 250 Wall St. Journal articles before
"real world."					they graduate.
Q. By exposing students to career opportunities in					Q. Field trips to area CPA firms, guest speakers at SBU,
accounting-related fields.					bringing firms & organizations to SBU to interview students.
Further evidence of accomplishment of Goal #2 includes 3 additional SBU Accounting graduates completing
the CPA exam during the year and all Accounting majors earning jobs in their field or being accepted into
graduate school.