There are three intermediate Pathway Modules/Programs that are 16 hours each. The intermediate pathway provides learners with business skills that agree to those required for the Certified Management Accountant professional examinations. We believe these skills are necessary for business and entrepreneurial success. Program emphasis will determine at what depth the topics /content below are covered in Level II and III programs. The Institute of Management Accountants (IMA) refers to three levels of learning A,B and C. Students wishing to take the CMA exams can after completing the three modules supplement the Level A,B and C coverage gained in programs by enrolling in the WileyCMAExcel examination preparation system to prepare to sit for the examinations. Fall, Winter and Spring Quarters should be 16 Hours each.
Content outlines:
Fall and Spring Quarter – A Strategy/Strategic Planning Program Theme
Planning, Budgeting, and Forecasting
Strategic planning
Analysis of external and internal factors affecting strategy
Long-term mission and goals
Alignment of tactics with long-term strategic goals
Strategic planning models and analytical techniques
Characteristics of successful strategic planning process
Budgeting concepts
Operations and performance goals
Characteristics of a successful budget process
Resource allocation
Other budgeting concepts
Forecasting techniques
Regression analysis
Expected value
Budgeting methodologies
Annual business plans (master budgets)
Project budgeting
Activity-based budgeting
Zero-based budgeting
Continuous (rolling) budgets
Flexible budgeting
Annual profit plan and supporting schedules
Operational budgets
Financial budgets
Capital budgets
Top-level planning and analysis
Pro forma income
Financial statement projections
Cash flow projections
Cost Management
Measurement concepts
Cost behavior and cost objects
Actual and normal costs
Standard costs
Absorption (full) costing
Variable (direct) costing
Joint and by-product costing
Costing systems
Job order costing
Process costing
Activity-based costing
Life-cycle costing
Overhead costs
Fixed and variable overhead expenses
Plant-wide versus departmental overhead
Determination of allocation base
Allocation of service department costs
Supply Chain Management
Lean manufacturing
Enterprise resource planning (ERP)
Theory of constraints and throughput costing
Capacity management and analysis
Business process improvement
Value chain analysis
Value-added concepts
Process analysis
Activity-based management
Continuous improvement concepts
Best practice analysis
Cost of quality analysis
Efficient accounting processes
Investment Decisions
Capital budgeting process
Stages of capital budgeting
Incremental cash flows
Income tax considerations
Discounted cash flow analysis
Net present value
Internal rate of return
Comparison of NPV and IRR
Payback and discounted payback
Uses of payback method
Limitations of payback method
Discounted payback
Risk analysis in capital investment
Sensitivity and scenario analysis
Real options
Decision Analysis
Cost/volume/profit analysis
Breakeven analysis
Profit performance and alternative operating levels
Analysis of multiple products
Marginal analysis
Sunk costs, opportunity costs and other related concepts
Marginal costs and marginal revenue
Special orders and pricing
Make versus buy
Sell or process further
Add or drop a segment
Capacity considerations
Pricing a. Pricing methodologies
Target costing
Elasticity of demand
Product life cycle considerations
Market structure considerations
Performance Management
Cost and variance measures
Comparison of actual to planned results
Use of flexible budgets to analyze performance
Management by exception
Use of standard cost systems
Analysis of variation from standard cost expectations
Responsibility centers and reporting segments
Types of responsibility centers
Transfer pricing models
Reporting of organizational segments
Performance measures
Product profitability analysis
Business unit profitability analysis
Customer profitability analysis
Return on investment
Residual income
Investment base issues
Key performance indicators (KPIs)
Balanced scorecard
Winter Quarter Financial Accounting Program Theme
External Financial Reporting Decisions
Financial statements
Balance sheet
Income statement
Statement of changes in equity
Statement of cash flows
Recognition, measurement, valuation, and disclosure
Asset valuation
Valuation of liabilities
Equity transactions
Revenue recognition
Income measurement
Major differences between U.S. GAAP and IFRS
Financial Statement Analysis
Basic Financial Statement Analysis
Common size financial statements
Common base year financial statements
Financial Ratios
Liquidity
Leverage
Activity
Profitability
Market
Profitability analysis
Income measurement analysis
Revenue analysis
Cost of sales analysis
Expense analysis
Variation analysis
Special issues
Impact of foreign operations
Effects of changing prices and inflation
Off-balance sheet financing
Impact of changes in accounting treatment
Accounting and economic concepts of value and income
Earnings quality
Business continuity planning
Entity types, Income Taxes and tax planning
Entity Types
Sole Proprietor
Partnership
Corporation
LLC
Non Profit
B Certification, B Corps and Special Purpose Corporations
Income taxes and tax planning
Corporate taxes
Pass through entities
Personal Income taxes
Spring Quarter a Program Theme Finance
Risk Management
Enterprise risk
Types of risk
Risk identification and assessment
Risk mitigation strategies
Managing risk
Internal Controls
Governance, risk, and compliance
Internal control structure and management philosophy
Internal control policies for safeguarding and assurance
Internal control risk
Corporate governance
External audit requirements
Internal auditing
Responsibility and authority of the internal audit function
Types of audits conducted by internal auditors
Systems controls and security measures
General accounting system controls
Application and transaction controls
Network controls
Backup controls
Corporate Finance
Risk and return
Calculating return
Types of risk
Relationship between risk and return
Long-term financial management
Term structure of interest rates
Types of financial instruments
Cost of capital
Valuation of financial instruments
Raising capital
Financial markets and regulation
Market efficiency
Financial institutions
Initial and secondary public offerings
Dividend policy and share repurchases
Lease financing
Working capital management
Working capital terminology
Cash management
Marketable securities management
Accounts receivable management
Inventory management
Types of short-term credit
Short-term credit management
Corporate restructuring
Mergers and acquisitions
Bankruptcy
Other forms of restructuring
International finance
Fixed, flexible, and floating exchange rates
Managing transaction exposure
Financing international trade
Tax implications of transfer pricing
Professional Ethics
Ethical considerations for management accounting and financial management professionals
IMA’s “Statement of Ethical Professional Practice”
Fraud triangle
Evaluation and resolution of ethical issues
Ethical considerations for the organization
IMA’s Statement on Management Accounting, “Values and Ethics: From Inception to Practice”
U.S. Foreign Corrupt Practices Act
Corporate responsibility for ethical conduct
Advanced Capstone Program Inter-disciplinary
Advanced Capstone in Entrepreneurship will take place as Student Originated Studies inside of the incubators.
Incubators include:
Fine Arts
Visual Media
Flaming Eggplant
Organic Farm
Alternative energy lab etc. etc…………
In the advanced capstone the student entrepreneur will learn to strategize and then operationalize plans and are exposed to the knowledge base specified for the Certification in Strategy and Competitive Analysis of the Institute of Management Accountants and will cover three areas:
- Strategic Analysis
- Creating Competitive Advantage
- Strategy Implementation and Performance Evaluation
Strategic Analysis (25%)
The strategic planning processes
- What is strategy?
- Role of the finance team in the strategic management process
- Vision, mission, and goals
- Analytical planning tools and frameworks
Environmental scan and competitive analysis
- Macro environmental forces
- Industry economic market structure
- Industry segmentation
- Industry life-cycle analysis
- Threat of new entry and/or substitution
- Supplier and buyer power
- Complementary products and services
- Competitive intelligence
- Competitive forces analysis
- Competitive rivalry
- Financial analysis of competitors
- Innovation, change, and market disruption
Internal analysis
- Organizational culture and core values
- Strengths and weaknesses
- Core competencies
- The value chain
- Operational effectiveness
- Financing strategy
Creating Competitive Advantage (40%)
What is competitive advantage?
- Delivering unique value
- Differentiated competencies
Strategy in a global context
Market expansion
Value chain optimization
Risks of conducting international business
Business level strategies
- Low cost
- Differentiation
- Value innovation
- Market segmentation
- Pricing as a strategic lever
- New product and new market development
Corporate level strategies
- Horizontal and vertical integration
- Strategic alliances and joint ventures
- Strategic outsourcing
- Diversification
- Mergers and acquisitions
- Restructuring
Functional level strategies
- Operational excellence
- Quality optimization
- Technology as a competitive advantage
- Innovation strategy
Sustaining competitive advantage
- Barriers to imitation
- Capability of competitors
- Industry dynamism
Strategy Implementation and Performance Evaluation (35%)
Analyzing strategic alternatives
- Marginal costs and revenues
- Adding or dropping products and services
- Customer profitability analysis
- Investment decision analysis
- Scenario planning
Risk management
- Risk analysis
- Mitigating risks
- The role of enterprise risk management (ERM)
Strategy implementation
- Alignment of tactics with long-term strategic goals
- Leadership, communication, culture, and workforce engagement
- Strategy deployment, including challenges and prioritization
Change management
Linking strategy to the strategic financial plan
Forecasting financial statements and organizational performance
Financing for growth
Characteristics of a successful strategic management process
Strategy measurement and organizational performance
- Evaluation and control
- Balanced scorecard
- Strategy map
- Benchmarking
- Reporting results
Governance, social responsibility, and ethics
- Agency theory
- Role of the Board of Directors
- Role of the CEO and the CFO
- Incentives
- Organizational structure
- Ethical decision-making
- Social responsibility
Students that have completed the initial entrepreneurship or business fundamentals program and at least three intermediate pathway programs may in their senior year enter the entrepreneurship and business management capstone program at the Evergreen Entrepreneurship Incubator. In this program, they will develop a business idea, network with potential collaborators and investors and may complete an internship in the industry of their specialization.
Desired Outcome
Students may operationalize the business plan developed during entrepreneurial foundations or operationalize a business plan which has been prepared by the student and approved by the faculty in charge of the advanced capstone program.
The pathway has three distinct levels. Levels 1 (fundamentals Level A, 2 Intermediate Level B, and 3 Advanced Level – Capstone Level C.
Level 1 Pathway Modules
Under Level 1 students have two avenues to choose from, either of them fulfilling the pre-requisites for the Level 2 programs. The level 1 pathways are 16 hours in length.
Program Descriptions and Learning Objectives of level 1 pathways
Level 1 Avenue 1
An Inter-Disciplinary Introduction – Entrepreneurial Endeavors
Current Examples:
Coral Reefs: Ecology and Entrepreneurial Endeavors
Business, Biology, and Sustainable Solutions
Evening and Weekend studies pathway integration possibilities
Current Examples:
Startups and Entrepreneurship
The Business of Cannabis: Opportunities and Risks in an Emerging Market
Program Description: In this program, we will introduce business and cover the key questions that arise when planning to start and run a sustainable business or not for profit enterprise within an inter-disciplinary program.
This program is a hands-on learning program and integrates over two quarters with any occupational field. We will work in groups and develop strategic plans and business and not for profit plans around actual business examples utilizing various business planning, accounting, tax and web development software applications. The program introduces students to the value proposition and explore this proposition from the perspective of individual and business entrepreneurship.
Conceptualizing value and planning is essential in all aspects of life, be it a for profit enterprise, a not for profit enterprise or a career. We learn how to conceptualize and fine tune our value offering and conduct a feasibility study. Around our value offering we design a competitive business model, a solid strategic business plan and a competitive academic statement. We learn the ins and outs of forming various types of legal entities to be a vehicle for the offering and learn about what constitutes a contract. We learn about the major tax advantages of the various entities.
We will also learn how to formulate a presentable business plan and “pitch” to investors and lenders. To be proficient in writing a business plan we need to understand how we use accounting and marketing methods to cost and price our offering. We explore internet marketing methods and learn how to use the internet to present our offering through the eyes of the 4 P’s of marketing, product, price, promotion and place. (Gronroos) We demonstrate how to use accounting software to record and analyze data and prepare projected pro forma financial statements for our business plan. We learn how to estimate taxes and payroll costs and throughout the planning process learn about managing our human resources through formal team meetings, delegating tasks and authority and other forms of collaboration.
Starting an enterprise or running an existing enterprise can require large outlays of cash and financing. We will learn techniques of capital budgeting to aid in our decision making when faced with competing asset acquisitions.
Financing a business has significant ownership and cost implications. We will explore debt and equity financing while planning for capital needs.
In this introductory program, students will develop the skills and insight needed to conduct and understand the relationship between business and society and how business practices, such as innovation, quantitative and critical analysis, ethics, sustainability, entrepreneurship, management, and leadership influence outcomes. Factors that are key to business success will be explored from different perspectives and stakeholder views. The program includes fundamental work in entrepreneurship, leadership, management, ethics, quantitative work, economics, accounting, financial statement and ratio analysis, as well as the concept of time value of money.
Students wanting to peruse the Entrepreneurship and business management pathway do so by selecting level 2 Intermediate Business Foundations programs of their choice at time of offering.
Learning Objectives
- Know your business (enterprise) and develop your value proposition.
- Build A viable business (enterprise) model and test it.
- Develop a solid sustainable business (enterprise) plan.
- Understand financial statements.
- Manage financial resources.
- Learn to manage people effectively.
- Learn to create a competitive advantage.
OR
Level 1 Avenue 2
Business Fundamentals
In this introductory program, students will develop the skills and insight needed to conduct and understand the relationship between business and society and how business practices, such as innovation, quantitative and critical analysis, ethics, sustainability, entrepreneurship, management, and leadership influence outcomes. Factors that are key to business success will be explored from different perspectives and stakeholder views. The program includes fundamental work in entrepreneurship, leadership, management, ethics, quantitative work, economics, accounting, financial statement and ratio analysis, as well as the concept of time value of money.
In fall quarter, the program includes four credits of basic undergraduate statistics, which will serve as a foundation for further work in advanced social sciences, including graduate programs (e.g., an MBA or MPA) requiring statistics. Through seminar texts, daily readings from the Wall Street Journal, independent research, movies, speakers, field trips, group projects, workshops, and student presentations, students will examine business and finance from a variety of viewpoints. Seminar texts include books representing entrepreneurship, innovation, management science, finance, marketing, ethics, and management. We will read Goldratt and Cox’s The Goal, Sheryl Sandberg’s Lean In, and Malcolm Gladwell’s Outliers, as well as other fundamental business texts that will enhance the skills necessary for conducting business, as well as running nonprofits.
During winter quarter, students will work in groups on formally proposed, extensive independent projects focused on improving their analytic skills. They will be required to analyze a compelling problem or issue centered on our primary themes of economically successful businesses. The research includes a term paper and will conclude with a multimedia presentation. Students will also cover forecasting, linear programming, decision analysis using tree diagrams, and queuing theory from the field of management science.
Upon successful completion of the program, students will be better equipped to understand how a successful business operates and to work with financial data and procedures in the conduct of business and public policy. They will also be better prepared for the quantitative skills requirements of businesses and governments.
Intermediate Pathway Modules
There are three intermediate Pathway Modules/Programs that are 16 hours each. The intermediate pathway provides learners with necessary business skills as outlined by the Institute of Management Accountants that is required coverage for the Certified Management Accountant professional examinations.
Business Skills Coverage of the intermediate pathway.
Financial Reporting, Planning, Performance, and Control
External Financial Reporting Decisions
Planning, Budgeting, and Forecasting
Performance Management 20%
Cost Management 20%
Internal Controls 15%
Financial Decision Making
Financial Statement Analysis 25%
Corporate Finance 20%
Decision Analysis 20%
Risk Management 10%
Investment Decisions 15%
Professional Ethics 10%
The percentages above indicate the relative weighting of the coverage.
Level 3 – Capstone Program
Program Descriptions and Learning Objectives of level 3 pathways
Students will complete an internship or project and may be selected to be placed in the Evergreen Entrepreneurship Incubator or business simulation program.
Incubators include:
Fine Arts
Visual Media
Flaming Eggplant
Organic Farm
Alternative energy lab etc. etc.
It may also be possible for Evergreen students to interface with the Mondragon Entrepreneurship initiative which is being explored at present.
Summary list of the programs and faculty
|
Year/Quarter |
Fall |
Winter |
Spring |
Summer |
|
2019/20 |
Most Faculty can offer this: Pre-foudations orientation – Intra-Disciplinary. (Can be offered in most programs) Jon Baumunk: Business Fundamentals Dion Gouws: With: Physics/Chemistry Faculty Proposed: Alternative energy systems and entrepreneurial endeavors Business Faculty TBD: Finance for Entrepreneurship and Business Management |
Most Faculty can offer this: Pre-foundations orientation – Intra-Disciplinary. (Can be offered in most programs) Jon Baumunk: Business Fundamentals Dion Gouws: With: Physics/Chemistry Faculty Proposed: Alternative energy systems and entrepreneurial endeavors Business Faculty TBD: Decision Science and Operations and Information Technology Management for Entrepreneurship and Business Management |
Most Faculty can offer this: Pre-foundations orientation – Intra-Disciplinary. (Can be offered in most programs) Jon Baumunk: Sustainability Accounting: Can Accountants Make the Planet Safer? Dion Gouws: Proposed: Accounting for Entrepreneurship and Business Management Business Faculty TBD: Organizational Behavior and Administration for Entrepreneurship and Business Management |
Business Applications of Food and Ag; Dion Gouws |
|
2020/21 |
Most Faculty can offer this: Pre-foundations orientation – Intra-Disciplinary. (Can be offered in most programs) Jon Baumunk: With: Natural Sciences and Psychology/Sociology Faculty The Business of Cannabis: Opportunities and Risks in an Emerging Market Dion Gouws: With: Environmental Science/Sociology Faculty Proposed: Eco Tourism and sustainable community involvement Business Faculty TBD: Foundations of Marketing for Entrepreneurship and Business Management |
Most Faculty can offer this: Pre-foundations orientation – Intra-Disciplinary. (Can be offered in most programs) Jon Baumunk: With: Natural Sciences and Psychology/Sociology Faculty The Business of Cannabis: Opportunities and Risks in an Emerging Market Dion Gouws: With: Environmental Science/Sociology Faculty Proposed: Eco Tourism and sustainable community involvement Business Faculty TBD: Accounting for Entrepreneurship and Business Management |
Most Faculty can offer this: Pre-foundations orientation – Intra-Disciplinary. (Can be offered in most programs) Jon Baumunk: Intermediate Business Foundations Business Faculty TBD: Finance for Entrepreneurship and Business Management Business Faculty TBD: Economics for Entrepreneurship and Business Management |
|
|
2021/22 |
Most Faculty can offer this: Pre-foundations orientation – Intra-Disciplinary. (Can be offered in most programs) Jon Baumunk: Business Fundamentals Dion Gouws: With: Computer Science Faculty Proposed: Consulting in the GIG Economy Business Faculty TBD Finance for Entrepreneurship and Business Management |
Most Faculty can offer this: Pre-foundations orientation – Intra-Disciplinary. (Can be offered in most programs) Jon Baumunk: Business Fundamentals Dion Gouws: With: Computer Science Faculty Proposed: Consulting in the GIG Economy Business Faculty TBD Foundations of Marketing for Entrepreneurship and Business Management |
Most Faculty can offer this: Pre-foundations orientation – Intra-Disciplinary. (Can be offered in most programs) Jon Baumunk: Sustainability Accounting: Can Accountants Make the Planet Safer? Business Faculty TBD: Accounting for Entrepreneurship and Business Management Business Faculty TBD Decision Science and Operations and Information Technology Management for Entrepreneurship and Business Management |
|
|
2022/23 |
Most Faculty can offer this: Pre-foundations orientation – Intra-Disciplinary. (Can be offered in most programs) Jon Baumunk: With: Natural Sciences and Psychology/Sociology Faculty The Business of Cannabis: Opportunities and Risks in an Emerging Market Dion Gouws: With: Environmental Science/Sociology Faculty Proposed: Eco Tourism and sustainable community involvement Business Faculty TBD: Finance for Entrepreneurship and Business Management |
Most Faculty can offer this: Pre-foundations orientation – Intra-Disciplinary. (Can be offered in most programs) Jon Baumunk: With: Natural Sciences and Psychology/Sociology Faculty The Business of Cannabis: Opportunities and Risks in an Emerging Market Dion Gouws: With: Environmental Science/Sociology Faculty Proposed: Eco Tourism and sustainable community involvement Business Faculty TBD: Decision Science and Operations and Information Technology Management for Entrepreneurship and Business Management |
Most Faculty can offer this: Pre-foundations orientation – Intra-Disciplinary. (Can be offered in most programs) Jon Baumunk: Intermediate Business Foundations Business Faculty TBD: Foundations of Marketing for Entrepreneurship and Business Management Dion Gouws: Accounting for Entrepreneurship and Business Management |
Appendix
Teampreneurs
The LEINN competency profile is made up of 21 competencies grouped in 3 categories:
Learning as a team
- Information technologies and computer skills
- Team-learning techniques
- Personal learning methods and attitudes (mental models)
- Creativity
- International vision
- Communication skills
- Self-guidance
Leading a team
- Self-management skills
- Project management
- Team leadership capacity
- Planning techniques
- Coaching skills
- Strategic skills
- Decision making and determination
Team entrepreneurship
- Consumer services and negotiation and sales techniques
- Comprehension of financial elements
- Marketing
- Innovation
- Theoretical and modelling skills of an entrepreneur
- Networking
- Bravery and will to overcome obstacles
Works Cited
The Evergreen State College, 22 Nov. 2017, www.evergreen.edu/catalog/offering/business-fundamentals-18602.
Leadership Learning Outcomes. Retrieved from http://www.goucher.edu/experience/getting-involved/leadership/leadership-learning-outcomes
Gronroos, Christian. “From Marketing Mix to Relationship Marketing: Towards a Paradigm Shift in Marketing.” Asia-Australia Marketing Journal, no. 1, 1994.
Landram, Glen. “Business Fundamentals Fall 2018 and Winter 2019 Quarters.” The Evergreen State College, 22 Nov. 2017, www.evergreen.edu/catalog/offering/business-fundamentals-18602.
Landram, Glen. The Evergreen State College, 22 Nov. 2017, www.evergreen.edu/catalog/offering/business-fundamentals-18602.
Institute of Management Accountants http://www.imanet.org
Mondragon Team Academy, Rocket Model 2015