ch05 - CHAPTER 5 Links To Intermediate Accounting 11 th...

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Unformatted text preview: CHAPTER 5 Links To Intermediate Accounting , 11 th Edition Chapters LINK YOUR CONTENT TO THE CPA EXAM Should we teach to the CPA exam? This question has been hotly debated by accounting faculty throughout the nation for several decades. Some say absolutely not! I will not allow the CPA exam to drive my class content. I will teach what I believe is important. Others say why not. They believe there is a direct link to student classroom performance on the CPA exam and performance in the profession. Why not help students achieve two goals at once – pass the exam and perform well in the profession. Finally, the middle ground approach is to teach and test some CPA topics with little or no emphasis on the CPA exam. No matter how you answer the question, I hope you agree that the CPA exam has some relevancy to an accounting major’s skill set. Clearly there is value to earning the CPA title. The AICPA certainly believes so, as they often quote: “Licensing of CPAs helps to protect the public from substandard work performed by incompetent individuals.” 1 If you desire to help your students pass the CPA exam read on. Chapter Purpose and Organization 1 Information for Uniform CPA Examination Candidates, seventeenth edition, page 1, paragraph 2. 35 36 Chapter 5 Links to Intermediate Accounting 11 th Edition Chapters The purpose of this chapter is to help identify some of the skills that an accounting major should master to not only successfully complete the Financial Accounting and Reporting (FAR) section of the exam, but also to succeed in the accounting world. Look at this chapter as a “laundry list” of important content areas. By helping your students to master the content, you are increasing their chances of passing the CPA exam. A separate content list is presented for each chapter of the 11 th edition of Intermediate Accounting. (A separate content list for Fundamentals of Intermediate Accounting is available on the website) Isn’t this rather subjective on my part? Yes, somewhat. However it is based upon my 17 years of experience in the CPA exam review arena. Hopefully, future communications will also include your input. Where’s the Value? What value is there in it for you? The lists might help you to prioritize your course content. The lists might also help you to identify important material that is essential to operate within today’s business environment. Recall the CPA exam content specifications serve as the ‘blueprint” for exam development and are based upon the results of periodic studies of public accounting practice and the evaluations of CPA practitioners and academicians. When you link your course content to the content specifications, you are in effect covering CPA exam content as well as helping to teach some of the skills that today’s entry level professionals should possess. You are channeling your students’ efforts. You are helping your students to focus on the key concepts....
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This note was uploaded on 05/02/2011 for the course ACCT 3341 taught by Professor Dr.ramaswamy during the Spring '09 term at University of St. Thomas-Texas.

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ch05 - CHAPTER 5 Links To Intermediate Accounting 11 th...

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