UCC/UGC/ECCC
Proposal for New Course
Please attach proposed Syllabus in approved university format.
1. Course subject and number: ACC 496
2. Units:
See upper and lower division undergraduate course definitions.
3. College:
The W.A.Franke College of
Business
4. Academic Unit:
1
Accounting
5. Student Learning Outcomes of the new course. (Resources & Examples for Developing Course Learning
Outcomes)
Upon completion of the course students will be able to:
 Demonstrate a thorough understanding of the background of IFRS and current status in
the United States.
 Compare and contrast financial statement presentation under IFRS versus US GAAP.
 Identify primary differences between IFRS and US GAAP for financial statement elements.
 Demonstrate an understanding of first-time adoption of IFRS.
 Demonstrate an understanding of the current status of convergence between IFRS and US
GAAP.
6. Justification for new course, including how the course contributes to degree program outcomes,
or other university requirements / student learning outcomes. (Resources, Examples & Tools for Developing
Effective Program Student Learning Outcomes).
As accounting becomes a more global profession, students need to know how American
accounting rules relate to international accounting rules. This discussion is ongoing in the
profession and we expect textbooks to start publishing information in the next 5 years. In the
meantime, this one-unit class will bridge the gap in knowledge for the students. The course
will be a one-unit elective course for accounting students. It has been offered as a 499 for
three offerings with successful enrollments.
7. Effective BEGINNING of what term and year?
See effective dates calendar.
Fall 2013
8. Long course title: INTERNATIONAL FINANCIAL REPORTING
(max 100 characters including spaces)
9. Short course title: INTL FINANCIAL REPORTING
(max. 30 characters including spaces)
Effective Fall 2012
10. Catalog course description (max. 60 words, excluding requisites):
International financial reporting environment, and primary differences in financial statement
presentation and financial statement elements under International Financial Reporting
Standards (IFRS) versus United States Generally Accepted Accounting Principles (US GAAP).
One credit hour. Letter grade only.
11. Will this course be part of any plan (major, minor or certificate) or sub plan (emphasis)?
Yes
If yes, include the appropriate plan proposal.
No
12. Does this course duplicate content of existing courses?
Yes
No
If yes, list the courses with duplicate material. If the duplication is greater than 20%, explain why
NAU should establish this course.
13. Will this course impact any other academic unit’s enrollment or plan(s)?
If yes, include a letter of response from each impacted academic unit.
14. Grading option:
Letter grade
Yes
Pass/Fail
No
Both
15. Co-convened with:
14a. UGC approval date*:
(For example: ESE 450 and ESE 550) See co-convening policy.
*Must be approved by UGC before UCC submission, and both course syllabi must be presented.
16. Cross-listed with:
(For example: ES 450 and DIS 450) See cross listing policy.
Please submit a single cross-listed syllabus that will be used for all cross-listed courses.
17. May course be repeated for additional units?
16a. If yes, maximum units allowed?
16b. If yes, may course be repeated for additional units in the same term?
Yes
No
Yes
No
18. Prerequisites:
ACC 356.
If prerequisites, include the rationale for the prerequisites.
This is a senior-level financial accounting and reporting course. Concepts covered in this
course require the students to have an understanding and mastery of concepts from prior
financial reporting courses
19. Co requisites:
Effective Fall 2012
NONE
If co requisites, include the rationale for the co requisites.
20. Does this course include combined lecture and lab components?
Yes
If yes, include the units specific to each component in the course description above.
No
21. Names of the current faculty qualified to teach this course:
Answer 22-23 for UCC/ECCC only:
22. Is this course being proposed for Liberal Studies designation?
If yes, include a Liberal Studies proposal and syllabus with this proposal.
Yes
No
23. Is this course being proposed for Diversity designation?
If yes, include a Diversity proposal and syllabus with this proposal.
Yes
No
Scott Galland
Reviewed by Curriculum Process Associate
12/3/2012
Date
Approvals:
Department Chair/ Unit Head (if appropriate)
Date
Chair of college curriculum committee
Date
Dean of college
Date
For Committee use only:
UCC/UGC/ECCC Approval
Date
Approved as submitted:
Yes
No
Approved as modified:
Yes
No
Effective Fall 2012
Approved by the Accounting area on ________
Approved by the FCB Curriculum Committee on ________
MASTER SYLLABUS
ACC 496 INTERNATIONAL FINANCIAL REPORTING
I.
Catalog Description:
International financial reporting environment, and primary differences in financial statement
presentation and financial statement elements under International Financial Reporting Standards
(IFRS) versus United States Generally Accepted Accounting Principles (US GAAP). One credit hour.
Letter grade only.
II. Prerequisites:
Courses: ACC 356.
Justification: This is a senior-level financial accounting and reporting course. Concepts covered in
this course require the students to have an understanding and mastery of concepts from prior
financial reporting courses.
III.
Course Learning Goals: Upon completion of the course students will be able to:
A. Demonstrate a thorough understanding of the background of IFRS and current status in the
United States.
B. Compare and contrast financial statement presentation under IFRS versus US GAAP.
C. Identify primary differences between IFRS and US GAAP for financial statement elements.
D. Demonstrate an understanding of first-time adoption of IFRS.
E. Demonstrate an understanding of the current status of convergence between IFRS and US
GAAP.
IV. Course Materials:
This course requires a textbook that covers IFRS topics and US GAAP (such as Intermediate
Accounting, by Kieso, Weygandt, and Warfield and Advanced Accounting, by Beams, et al.).
Additional course materials (e.g., current readings), may be provided via internet access.
V. Teaching Methods:
Primary teaching methods include lecture, problem solving, and in-class discussion.
Effective Fall 2012
VI.
Mechanisms for Feedback to Students/Interaction Between Students and Professors:
 In class review and discussion of examples and homework problems
 Written evaluation and comments on student examinations
 Regular office hours and e-mail communications
VII. Evaluation Tools:
Evaluation of student performance will be conducted using at one midterm examination and a
final examination. A minimum of 70% of the grade will be derived from performance on
examinations. Additional evaluation tools will be determined by the instructor and may include
homework, quizzes, and class attendance/participation. At least 50% of the course grade must
be based on individual assessments.
VIII. Use of Technology and Information Systems
This aspect of the course is left to the discretion of the instructor.
IX. Collaborative or Team Activities
This aspect of the course is left to the discretion of the instructor.
X. Projects
This aspect of the course is left to the discretion of the instructor.
XI. Statement Regarding Academic Dishonesty
Scholastic dishonesty will not be tolerated. It includes, but is not limited to: cheating; plagiarism;
providing false information to the professor; forgery; altering documents or computer files;
unauthorized collaboration on assignments; unauthorized sharing of files on spreadsheets/projects;
bringing in crib notes, programmable calculators, or other unauthorized materials to exams; or helping
others with such activities. Refer to the FCB Code of Conduct for additional information regarding
academic integrity. The full consequences of academic dishonesty will be pursued, consistent with
the University policy. At a minimum, a student will receive an “F” in this course for academic
dishonesty, with no drops or withdrawals allowed.
XII. Course Content:
A. Course Topics:
1. Background of IFRS and current status in the United States.
2. Financial statement presentation under IFRS versus US GAAP.
3. Primary differences between IFRS and US GAAP for financial statement elements.
4. First-time adoption of IFRS.
5. Convergence plans and project updates for IFRS and US GAAP.
Effective Fall 2012
B. General Knowledge and Management Skills *
Note: Definitions provided on
next page.
Included
In This
class:
Y/N
Describe Required Graded Work If Applicable
(Include Both Exam And Non-Exam Work)
Indicate the extent to which
the knowledge or skill area is
represented in the course
grade **
Oral Communication
N
Written Communication
N
Analytic Skills
Y
Homework assignments, exam problems
80%
Reflective Thinking
Y
Homework assignments, exam questions
5%
Ethics and Social
Responsibility
Y
Class discussion; no separate graded work
Global and Environmental
Awareness
Y
Class discussion, homework assignments, exam
questions
Multicultural and Diversity
Understanding
Y
Class discussion; no separate graded work
Financial Theories, Analysis
and Reporting
Y
Class discussion, homework assignments, exam
questions
50%
Integrated production and
distribution of goods, services
and information
Y
Class discussion, homework assignments, exam
questions
5%
Group and Individual
dynamics in Organizations
N
Effective Fall 2012
100%