NUS
New Accounting Curriculum 2014
Professor Ho Yew Kee
Head, Department of Accounting
PhD, FCPA (Aust), CA (S’pore), CFA
Head, Department of Accounting
Curriculum Review Committee
A/P Mak Yuen Teen (Chairman)
Prof Teo Chee Khiang
A/P Stephen Lynn
Dr Edmund Keung
A/P Chng Chee Kiong, Vice-Dean (Undergraduate Studies) [ex-officio]
Prof Ho Yew Kee, Head, Department of Accounting [ex-officio]
Ms Grace Chow, Secretariat Support
Page 1 of 20
(21 April 2015)
Background Information
 The BBA (Accountancy) programme was re-introduced in
NUS in 2006
 Department of Accounting was established in 2007.
 The first batch of students graduated in May 2009.
Committee
to Develop
the
Accounting
Sector
(CDAS)
2010 Report
Page 2 of 20
(21 April 2015)
Singapore
Qualification
Programme (2013)
Foundation Programme
1. Financial Accounting
and Reporting;
2. Management
Accounting;
3. Financial
Management;
4. Audit and Assurance;
5. Singapore Law; and
6. Singapore Taxation.
Page 3 of 20
(21 April 2015)
Terms of Reference
The main objectives of the Curriculum Review are:
 To examine and review the adequacy and effectiveness of the current BBA
(Accountancy) curriculum to achieve the objectives of the Committee to Develop the
Accounting Sector (CDAS) 2010 report and the training of a competent accountant;
 To do a comparative analysis of the current BBA (Accountancy) curriculum vis-à-vis
the accountancy education available in Singapore and of global standard and
reputation;
 To propose a new curriculum which will effectively achieve the objectives of the CDAS
report and provide an accountancy education which will place the accountancy
programme of the NUS Business School as a high impact accountancy programme and
a programme of choice for students.
 To articulate the distinctiveness, end results and outcomes of the accountancy
programme;
 To articulate the core attributes of a competent accountant arising from being a
graduate of the accountancy programme.
Page 4 of 20
(21 April 2015)
Comparative Analysis – US Accounting Programme
NUS
University of Texas
at Austin
University of Illinois at
Urbana-Champaign
University of
Washington
Accounting Core
ACC1002
Financial Accounting
Fundamentals/Foundations of Financial
Accounting
Fundamentals of Accounting /
Accounting And Accountancy I & II
Introduction to Accounting and
Financial Reporting
ACC1006
Accounting Information System
Fundamentals of Financial and
Administrative Information Systems
Intro to Mgt Info Systems
Introduction to Accounting Information
Systems
ACC2002
Managerial Accounting
Managerial/Cost Accounting /
Fundamentals of Managerial Accounting
Managerial Accounting
Fundamentals of Managerial Accounting /
Managerial Accounting
Accounting Essential Modules
ACC3601
Corporate Accounting and Reporting
Financial Accounting—Intermediate
Accounting Measurement, Reporting and Control
Intermediate Accounting I & II
ACC3602
Managerial Planning and Control
Managerial Accounting and Control
Accounting Control Systems
Cost Accounting
ACC3603
Assurance and Attestation
Introduction to Assurance Services
Assurance and Attestation / Auditing Standards
and Practice
Auditing Standards and Principles
ACC3604
Corporate and Securities Law
ACC3605
Taxation
Introduction/Fundamentals to Taxation
Principles of Taxation
Business Taxation
ACC3606
Advanced Corporate
Accounting and Reporting
Accounting Measurement and Disclosure
Intermediate Accounting III
Compulsory Accounting Modules Under Unrestricted Elective Modules
ACC3611
Corporate Governance and Ethics
ACC3612
Risk Management and Internal Control
ACC3613
Advanced Assurance and Attestation
ACC3614
Valuation
ACC3615
Accounting Theory
Auditing and Control
Auditing and Assurance Standards / Auditing
NUS Accounting Programme is content heavy.
Page 5 of 20
(21 April 2015)
Comparative Analysis – Australia Accounting Programme
The University of
Queensland
NUS
The University of
Sydney
University of Melbourne
Accounting, Business and Society
Introductory/Intermediate
Financial Accounting
Accounting Core
ACC1002
Financial Accounting
ACC1006
Accounting Information System
ACC2002
Managerial Accounting
ACC3601
Corporate Accounting and Reporting
ACC3602
Managerial Planning and Control
ACC3603
Assurance and Attestation
Auditing and Public Practice
Auditing and Assurance
ACC3604
Corporate and Securities Law
Corporations Law
Corporations Law
ACC3605
Taxation
Business and Taxation / Income Tax
Law
ACC3606
Advanced Corporate
Accounting and Reporting
ACC3611
Accounting for Decision Making
Computer-based Information Systems /
Business Information Systems
Fundamentals of Cost Accounting /
Management Accounting A /
Managerial Costing and Control
Management Accounting B
Accounting Essential Modules
Financial Reporting / Accounting for
Financial Accounting A /
Corporate Structures / External
Financial Accounting B
Reporting Issues
Current Issues in Management
Advanced Management Accounting
Accounting
Accounting Processes and Analysis
Cost Management / Studies in
Management Accounting
Accounting Reports and Analysis /
Studies in Corporate Reporting
Auditing and Assurance Services
Compulsory Accounting Modules Under Unrestricted Elective Modules
International Corporate
Corporations, Law and Governance
Corporate Governance and Ethics
Governance
ACC3612
Risk Management and Internal Control
ACC3613
Advanced Assurance and Attestation
ACC3614
Valuation
ACC3615
Accounting Theory
Studies in Audit and Assurance Services
Financial Accounting Theory
NUS Accounting Programme is content heavy.
Page 6 of 20
(21 April 2015)
Comparative Analysis – Hong Kong Accounting Programme
NUS
HKUST
ACC1002
Financial Accounting
ACC1006
Accounting Information System
ACC2002
Managerial Accounting
Chinese University of
Hong Kong
Hong Kong University
Accounting Core
Principles of Accounting I / Principles
Foundations in Financial Accounting /
Introduction to Financial Accounting
of Accounting II
Introductory Financial Accounting
Accounting, Business and Society /
Accounting Information Systems /
Introduction to Information Systems
Accounting Information in Cap Market
Introduction to Management
Introductory Management Accounting
Accounting
Accounting Essential Modules
Intermediate Financial
Financial Accounting I & II
Accounting I & II
ACC3601
Corporate Accounting and Reporting
Financial Reporting I & II
ACC3602
Managerial Planning and Control
Advanced Management Accounting
Management Control
Cost and Management Accounting
ACC3603
Assurance and Attestation
Auditing
Auditing
Auditing
ACC3604
Corporate and Securities Law
Company Law
ACC3605
Taxation
Taxation
Hong Kong Taxation
Taxation
ACC3606
Advanced Corporate Accounting and
Reporting
Advanced Financial Accounting
Advanced Financial Accounting
Advanced Financial Accounting
Company Law / Securities Regulation
Compulsory Accounting Modules Under Unrestricted Elective Modules
ACC3611
Corporate Governance and Ethics
Corporate Governance and Social
Responsibility
Corporate Governance
ACC3612 Risk Management and Internal Control
ACC3613
Advanced Assurance and Attestation
ACC3614
Valuation
ACC3615
Accounting Theory
Business Ethics and Issues
Internal Auditing and Control
Advanced Topics in Auditing
China Business Valuation and Analysis
Accounting Theory
NUS Accounting Programme is content heavy and elective light.
Page 7 of 20
(21 April 2015)
Financial Accounting Studies
Comparative Analysis – UK Accounting Programme
NUS
University of Manchester
ACC1002
Financial Accounting
ACC1006
Accounting Information System
ACC2002
Managerial Accounting
ACC3601
University of Warwick
University of Bradford
Accounting Core
Introduction to Financial Accounting/
Financial Accounting
Financial Reporting
Accounting in Context
Operations and Information Systems
Introduction to Business Information
Foundations of Information Systems
Management
Systems
Foundations of Management
Management Accounting
Introductory Management Accounting
Accounting
Accounting Essential Modules
Corporate Accounting and Reporting Financial Reporting and Accountability
Financial Reporting 1 & 2
Issues in Management Accounting/
Advanced Management Accounting
Auditing and Professional Accounting
Auditing, Governance and
Practice
Accountability
Law and Modern Corporation in an
Company Law
International Context
Corporate Reporting
ACC3602
Managerial Planning and Control
ACC3603
Assurance and Attestation
ACC3604
Corporate and Securities Law
ACC3605
Taxation
Principles of Taxation
Business Taxation
Company Law and Administration
ACC3606
Advanced Corporate Accounting and
Reporting
Contemporary Issues in Financial
Reporting and Regulation
Issues in Financial Reporting/
Advanced Financial Reporting
Taxation
Intermediate Management Accounting
Auditing
Compulsory Accounting Modules Under Unrestricted Elective Modules
ACC3611
Corporate Governance and Ethics
ACC3612
Risk Management and Internal Control
ACC3613
Advanced Assurance and Attestation
Accountability and Auditing
ACC3614
Valuation
Corporate Financial Communication
and Valuation
ACC3615
Accounting Theory
Derivatives and Financial Risk
Management
Financial Statement Analysis and
Security Valuation
Contemporary Issues in Accounting
NUS Accounting Programme is content heavy.
Page 8 of 20
(21 April 2015)
Comparative Analysis – Singapore Accounting Programme
NUS
NTU
SMU
Module Code
Module Title
Module Title
Module Title
ACC1002
Financial Accounting
Accounting I
Financial Accounting
ACC1006
Accounting Information System
ACC2002
Managerial Accounting
ACC3601
Corporate Accounting & Reporting
ACC3602
Managerial Planning & Control
ACC3603
Assurance and Attestation
Assurance & Auditing
Audit and Assurance
ACC3604
Corporate and Securities Law
Company Law
Company Law
ACC3605
Taxation
Principles of Taxation
Taxation
ACC3606
Advanced Corporate Accounting &
Reporting
Risk Reporting and Analysis
Advanced Financial Accounting
ACC3611
Corporate Governance and Ethics
ACC3612
Risk Management & Internal Control
ACC3613
Advanced Assurance and Attestation
ACC3614
Valuation
ACC3615
Accounting Theory
Developing Business Information
Systems
Accounting for Decision-making &
Control
Accounting II
Accounting Information Systems
Management Accounting
Corporate Reporting and Financial
Analysis
Governance and Risk Management
Risk Management, Control & Ethics
Internal Audit / Information
Systems Audit
Business Valuation & Analysis
Valuation for Accounting
Accounting Thought and Practice
NUS Accounting Programme is comparable although still slightly content heavy.
Page 9 of 20
(21 April 2015)
Summary of Key Recommendations
Recommendation 1 :
Our BBA (Accountancy) degree aims to produce :
“Accounting professionals who are ethical
and competent leaders in multi-disciplinary
and diverse teams”
Recommendation 2 :
To retain the current BBA (Accountancy) degree title and to
strengthen publicity highlighting why our BBA (Accountancy) degree
is Better than a Bachelor of Accountancy degree.
Page 10 of 20
(21 April 2015)
Summary of Key Recommendations
Recommendation 3 :
To articulate and enhance the distinctive features in our curriculum to
ensure that our degree:
 is aligned to the desired accountancy graduates we are striving to
produce;
 is preferred to those offered by our competitors;
 meets the expectations of stakeholders: employers, parents, students,
community at large, amongst others;
 ensures that ethics is further infused in the programme; and
 meets the requirements and prepares our students well for the
Qualification Programme (SQP) for Chartered Accountants in
Singapore.
Page 11 of 20
(21 April 2015)
Summary of Key Recommendations
Specific Recommendations :
a) Introduce a compulsory case-based integrative module for all
students to be taken in the last semester of the third year
b) Introduce additional advanced accounting electives to allow
students to pursue further study in certain specialised areas of
accounting
c) Ensure that our accountancy graduates continue to have some
practical work experience prior to graduation by retaining the
compulsory internship requirement
d) Ensure that our honours accountancy graduates achieve
consulting experience with external organisations by retaining the
compulsory Field Service Project requirement for all honours
students
Page 12 of 20
(21 April 2015)
New 3-Year Programme
Areas
Proposed
(# of MCs)
BBA Core Modules (exclude accounting modules)
48
University-Level Requirements (ULR)
20
Accounting Core
12
Accounting Essential Modules
32
Unrestricted Electives
Total MCs Required for BBA (Acc)
8
120
MC = Modular Credits
4 MC = A Standard 3-hour x 14 Weeks Module (Course)
Page 13 of 20
(21 April 2015)
New 4-Year Honours Programme
Areas
Proposed
(# of MCs)
BBA Core Modules (exclude accounting modules)
48
University-Level Requirements (ULR)
20
Accounting Core
12
Accounting Essential Modules
32
Unrestricted Electives
8
Total MCs Required for BBA (Acc) [3-Year Programme]

Field Service Project (FSP) [8 MCs]

Honours Thesis [12 MCs] or 3 relevant replacement Electives

5 Unrestricted Electives [20 MCs]
Total MCs Required for BBA (Acc) – Honours [4-Year Programme]
MC = Modular Credits
4 MC = A Standard 3-hour x 14 Weeks Module (Course)
Page 14 of 20
(21 April 2015)
120
40
160
BBA Core Modules (Exclude Accounting Modules)
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
MNO1001
MKT1003
BSP1004
BSP1005
BSP2001
ES2002
FIN2004
BSP2005
DSC2006
MNO2007
DSC2008
BSP3001
Management and Organisation
Marketing
Legal Environment of Business
Managerial Economics
Macro and International Economics
Business Communication
Finance
Asia-Pacific Business Environment
Operations Management
Leadership and Ethics
Business Analytics – Data and Decisions
Strategic Management
TOTAL BBA Core MCs
Page 15 of 20
(21 April 2015)
4
4
4
4
4
4
4
4
4
4
4
4
48
Accounting Core and Essential Modules
Accounting Core (Part of BBA Core)
ACC1002 Financial Accounting
ACC1006 Accounting Information System
ACC2002 Managerial Accounting
Accounting Essential Modules
ACC3601 Corporate Accounting and Reporting
ACC3603 Assurance and Attestation
ACC3604 Corporate and Securities Law
ACC3605 Taxation
ACC3606 Advanced Corporate Accounting and Reporting
ACC3611 Corporate Governance and Risk Management
ACC3614 Valuation
ACC3619 Integrated Perspectives in Accounting and Business
TOTAL Accounting MCs
Page 16 of 20
(21 April 2015)
MCs
4
4
4
4
4
4
4
4
4
4
4
44
SQP
Accounting Electives in the New Curriculum
Advanced Assurance and Attestation
Audit-based Electives
Internal Audit
Public Sector Audit
Forensic Accounting, Fraud Detection and Analytics
Financial Statement Analysis
Financial Accounting
based Electives
Accounting Theory
Advanced Accounting Theory
Managerial Planning and Control
Specialised Electives
Advanced Taxation
Advanced Corporate Governance
Advanced Risk Management
Page 17 of 20
(21 April 2015)
Achieving the Distinctiveness of the New Curriculum
Distinctive Features
How the Distinctive Features are achieved
•
is aligned to the desired accountancy
graduates we are striving to produce;
•
ability to produce ethical C-Suit leaders of
diverse team with strong business
foundation and accounting competencies
(BBA Core + Accounting Technical
Competencies + Integrated module);
•
is preferred to those offered by our
competitors;
•
integrated module and strong BBA Core as
a differentiator from our competitors;
•
meets the expectations of stakeholders:
employers, parents, students, community
at large, amongst others;
•
good communication and engagement of
stakeholders to ensure the differentiating
features of the new curriculum are well
accepted;
•
ensures that ethics is further infused in the
programme; and
•
further integrating ethics into the
accounting modules in addition to the
ethics found in the BBA core;
•
meets the requirements and prepares our
students well for the Qualification
Programme (SQP) for Chartered
Accountants in Singapore.
•
meeting the Foundation Programme
requirements and able to get accreditation.
Page 18 of 20
(21 April 2015)
Some Lessons Learnt in the Curriculum Review
• Periodic review of the curriculum (every 7 to 9 years)
• Need for benchmarking (against professional
requirements and international curriculum)
• Competent reviewers (internal and external)
• Clear Terms of Reference for Review Committee
• Clear articulation of end results
• Establishment of an implementation team
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