SUGGESTED EXAMPLE

 

MINIMUM DISCLOSURE

 

 

 

ABC School of Business

 

 

Statement of Educational Conditions

AS OF 31 JULY [OR OTHER] 20X0, 20X1

AND PROSPECTIVE PERIOD

 

and

 

Management Report of the Directors

 

and

 

Application Checklist and Affirmation

 


 

 

 

ABC School of Business

Statement of Educational Conditions [1]

As of September 30, 2011

 

 

 

 

Directors/Trustees’ Responsibility Statement

 

The directors/trustees are responsible for the preparation of the Statement of Educational Condition including the financial statements in accordance with the AASBI’s Generally Accepted Educational Standard on Auditing.

 

The directors confirm to the best of their knowledge that:

 

(a)     the Statement of Educational Conditions submitted herein present fairly, in all material respects, (or give a true and fair view of) the educational conditions of ABC School of Business as at July 31, 20X1, and (of) its results of operation, including financial performance, for the year then ended in accordance with Generally Accepted Education Principles promulgated by the Association of Accredited Schools of Business International (formerly Asian Association of Schools of Business Internaitonal);

(b)     the management report of the Directors presents fairly (or gives a true and fair view) of the important events that have occurred during the period and their impact on the Statement of Educational Conditions including the financial statements for the period ended July 31, 20X1.

 

On behalf of the Board

 

Ernest Goodwill

 

Director/Trustee

 

Date:  XY September 20X1

 

 

 

 

 

 

 

 


Historical information

 

ABC School of Business (“the School”) is an educational unit within the ABC State University of XYZland. The University has been in existence for 10 years. School has been in existence for 5 academic years.

 

Human Rights

 

XYZland is a States Party to the United Nations Declaration of Human Rights and adheres to the rights enumerated, except that the freedom of expression may be a sensitive matter when political issues are addressed in public, including the form of government, the judicial system, and labor movements.

 

Autonomy

 

ABC State University is an autonomous university, pursuant to State law….,  subject to periodic licensing by the Ministry of Education of XYZland according to public law and regulations.

 

License

 

The said ministerial license was first granted on September 1, 20XX and presently current, to be renewed on or before July 30, 20XY.

 

Accreditation

 

ABC University of XYZland  has been accredited on July 1, 20XX for an initial period of 5 years by [fictitious example} EXQUISITE (The Excellence of Quality Institutional Inquiry and Testing Entity). The School of Business is included in the EXQUISITE accreditation under standards applicable to the University as a whole.  The School is not accredited by a special business school, or master’s of business administration, accreditation service. No application(s) have been made, approved or declined, other than the present application.

 

Facilities Available to the School of Business

 

 

[Note: Applicants with a substantial number of  physical facilities that are in need of repair should submit their application for accreditation after the repairs have been made.]

 

The School of Business is located a treed park of about 2½ acres with flower beds, bushes, walkways, 20 sitting benches, and a fenced tennis/basketball court. The park is lit during times of darkness and attended by one security guard, who is equipped with a radio to call in support, and a plastic club. All security personnel are trained in medical first aid and are required to take refresher courses at least every three years. The School has access to an infirmary with the standard first-aid equipment including a supply of oxygen, staffed by one nurse during all times of teaching including evenings and weekends. The nurse is trained in first aid. The infirmary has a direct telephone line to call the city ambulance and fire department for assistance.

 

There has been one incident in the academic year 20XX, when the School of Business lost one of its professors who had experienced a heart attack while in his office. The city’s ambulance arrived late. The School has since contracted with a private ambulance service to lower the risk to students, staff and faculty in medial emergencies.

 

The U.S. Geological Service has ranked the earthquake threat level for AAA City, in which the entire teaching facility of the School is located, as a Level 4 (the highest level assigned).  The School’s physical facilities are constructed using reinforced concrete, and have been retrofitted in the year 20XX at a cost of $2 million, providing reasonable protection against loss of life, according to two recent independent earthquake engineering studies commissioned by the School in the year 20XY.

 

Overall, according to the studies referred to above, management’s information and belief, the appearance and design, construction and maintenance, space, equipment, in particular from an aspect of safety, the School’s facilities compare favorably with those of other schools, colleges and universities in the region and beyond.

 

 

Student Admission

For the student intake of first-year undergraduates for the present academic year , x,xxx students applied, of whom y,yyy have been accepted, of whom zzz students registered; xyz are in attendance. [Note: state all intakes by department, if applicable, separated by undergraduate, graduate, doctoral and visiting exchange students] The School of Business is looking to admit students you can benefit from, and contribute to, an educational experience with lasting, transformative effects, with a high level of curiosity, strong analytical thinking, and personal motivation to acquire knowledge and understanding. The School attempts to achieve a certain degree of national diversity, representing a wide range of interests and backgrounds. The application process is need-blind without regard to the prospective student’s financial ability. Financial aid is provided to the best of the School’s funding ability. Admission is competitive based on

  • SAT scores (average total xxx out of max. 2400) for the undergraduate intake 20XZ academic year; 
  • GMAT socres (average of yyy out of max. 800) for graduate intake;
  • High school grade point average (GPA) for undergraduates [state details, if available];
  • Letters of reference from teachers and professors based on subjective values [state requirement, if any]; 
  • Intake Examinations with an average score of xxx (max. zzz);
  • Other criteria [Note: delineate what they are,  why they are used, to what extent, and with what effect or result].

 

 

Curriculum

 

School of Business’s undergraduate and graduate curriculums are divided into two complementary parts. The core curriculum in taught in the first year of study and provides a common foundation of fundamental knowledge including all disciplines, namely accounting, finance, IT and organization, management and marketing, as well as communication. The elective curriculum in the following semesters provides both depth and specialization but also cross-registration, accompanied by field-based learning through case studies and internships. Details of the School’s curriculums for each program offered is attached and marked Exhibit “A”.

 

 

Departmental  Information : List of courses, faculty, student enrollment, and financing

Financial information projected based on approved budget(s) for the current academic year in thousands of US dollars.

 

 

 

Department of Accounting

 

Chairperson:    Anatole L. Pacioli

BSc (IT) University of Luxelles; MBA (accounting),

DC Tech, DBA (accounting) Arkansaw State; CA (HKG).

 

Full-time faculty:                    )

Visiting faculty:                      )  [Provide listing in the above format]

Adjunct faculty:                      )

                       

 


Accounting courses and programs offered during the current academic year:

 

 

Summary of Teaching Faculty’s Credentials and ‘Teaching Effectiveness’

 

The identities of individual faculty members have been encoded. The names and supporting documentation are protected under the privacy laws of XYZland, made available to the accreditation auditor under conditions of confidentiality.

 

 

 

[Provide a listing according to the format and content for the Department of Accounting above for the other departments of the School:]

 

Department of Finance

Department of Information Technology

Department of Management

Department of Marketing

 

 

 

 

Faculty Development

 

The School of Business maintains a policy to encourage (and does monitor) continued academic and/or professional development of members of the faculty including adjuncts supervised by the Vice President of Academic Affairs, as further described in the School’s Code of Practice and Conduct. All full-time faculty are entitled to the attendance of seminars provided arrangements can be made to cover their absences without disruption of teaching obligations, continued professional education (CPE) as required by their relevant membership of professional institutes and organizations, and to have their direct expenses reimbursed. In the past academic year, fifteen (15) faculty members attended seminars with aggregate allowed absence of 105 work days. Ten (10) faculty members completed their CPE. The aggregate reimbursed faculty expenses for faculty development for prior academic year came to $75,000. One faculty members has been reminded to renew a relevant professional license. Although the School does not impose sanctions for failure to comply with relevant professional license renewal, the Dean will make an entry in the faculty member’s personnel record, which is taken into consideration by the Vice President of Academic Affairs at the annual performance review, and for purposes of salary adjustment, promotion or demotion.

 

Faculty Teaching Loads

 

School’s Code of Practice and Conduct requires full-time faculty to teach three courses per semester, or six courses during the academic year. One over-load course is permitted as of right, a second over-load course is permitted in one semester provided it is taken as a reduction in course load from the subsequent semester, if the faculty member is teaching (if not teaching there is no consequence). Five faculty members are teaching one course overload, and one faculty member is teaching two course overloads in the current semester.

 

 

Faculty Leisure

 

The School’s Code of Practice and Conduct requires full-time faculty to be in attendance on three teaching days, not including Sundays, for an aggregate number of 24 hours during a week. Attendance records submitted by faculty on a self-reporting basis indicate an average attendance of 32 hours per week during the past semester. A letter from the Faculty Association requests that hours of attendance in excess of the required 24 hours should be remunerated by the School of Business, if justified by committee and other work performed at the Dean’s request. The VP Academic Affairs has made a recommendation to the School’s Executive Committee who are expected to make a decision after hearing the VP Finance and the President on the issue. Present indications are, that the Faculty Association’s request is seen as reasonable, and that the School financial budget can bear the expenditure.

 

 

Faculty Association

 

The School’s Faculty Association faculty was constituted in the year 20XX, is open to, and consists of, nearly all of the School’s full-time and adjunct faculty members, and is represented by an elected board consisting of  a president, a vice president, and three members, all of whom are members of the faculty.  The Association and Board meet in private. Officers of the Schools, including Deans, may attend on invitation only but are never present during times of discussions and voting, and discourages the taking of notice of any information that is not officially rendered by the Board of the Faculty Association. The membership has adopted a resolution in support of the present application for accreditation. A true copy of the resolution attached and marked as Appendix C, “Resolution of the Faculty Association of ABC School of Business in Support of the Application for AASBI Accreditation” dated  August 20, 200XX. To promote the independence and impartiality of its Board, the Faculty Association is self-funded, the members and the Board are not held in any particular regard, and any dealings with them are at arm’s-length.

 

 

Financial Statements

 

[Note: The School of Business should disclose financial information according to the following format and captions to the extend applicable, for the current as budgeted, the previous and one prior to the previous fiscal years. Adapted  and expanded as to budgeted amounts from Harvard Business School’s Annual Report 2007 at http://www.hbs.edu/about/annualreport/2007/financialstatements.html Retrieved 2011-02-25]

 


Consolidated Statement of Actual and Forecast [Budgeted] Activity and Cash Flows

For the fiscal years ended [eg, July 30]

In thousand [or in millions]. See disclaimer below the tabulations, disclaiming application of accounting principles.

 

                                                                                Prior to

Previous                 Previous                 Forecast

20XX                     20YY                     20ZZ

Revenues

  Tuition and fees                                                                                

      Undergraduate                                                                                                      

      Graduate                                                                                                                

      Doctoral                                                                                                                 

      Executive education                                     ____                       ____                       ____

        Total tuition and fees                                                                                        

   Publishing [ if material]                                                                                          

   Endowment distribution                                                                                         

   Unrestricted use of gifts                                                                                          

   Housing, rents, and other                                                                                       

   Interest income                                                 _____                    _____                    _____   

     Total receipts                                                   _____                    _____                    _____

 

Expenses

   Salaries and benefits                                                                                               

   Publishing and printing                                                                                           

   Space and occupancy                                                                                            

   Supplies and equipment                                                                                         

   Professional services                                                                                               

   Fellowships                                                                                                               

   University assessments                                                                                           

   Debt service                                                                                                              

   Other expense                                                   _____                    _____                    _____

      Total expenses                                               _____                    _____                    _____

 

Cash from operations                                                                                                

Use of endowment gifts of appreciation         _____                    _____                    _____

   Cash before capital activities                         _____                    _____                    _____

 

Capital expenses                                                                                                        

Use of gifts for capital projects                         _____                    _____                    _____

  Net capital expenses                                         _____                    _____                    _____

 

Net borrowing (investments)                                                                                    

Debt principal payments                                                                                           

Other activity                                                       _____                    _____                    _____

   Net debt and other                                           _____                    _____                    _____

 

Prior to

Previous:               Previous:               Forecast:

20XX                     20YY                     20ZZ

(continued)           (continued)           (continued)

 

 

Change in unrestricted reserves                                                                               

Beginning balance, unrestricted reserves        _____                    _____                    _____

Ending balance, unrestricted reserves              _____                    _____                    _____

 


Consolidated Actual and Budgeted Balance Sheet

For the fiscal years ended [eg, July 30]

In thousand [or in millions]

                                                                                Prior to

Previous                 Previous                 Forecast

20XX                     20YY                     20ZZ

Assets

   Cash                                                                                                                                           

   Unrestricted reserves                                                                                                               

   Receivables, loans, and other assets                                                                                                    

   Invested funds

      Endowment investments                                                                                                                    

      Current fund investments                                                                                                   

      Interest in trust held by others                                                                                            

   Facilities, net of accumulated depreciation                 _____                    _____                    _____   

     Total assets                                                                      _____                    _____                    _____

 

Liabilities

   Deposits, advances, and other                                                                                              

   Deferred revenue                                                                                                                     

   Other debt owed                                                                                                                      

   Building debt                                                                     _____                    _____                    _____   

      Total liabilities                                                                _____                    _____                    _____

 

 

Composition of net assets

   Unrestricted reserves                                                                                                               

   Undistributed income and other                                                                                           

   Pledge balances                                                                                                                                       

   Student loan funds                                                                                                                  

   Investment in facilities                                                                                                           

   Endowment and other invested funds                         _____                    _____                    _____

      Total assets net of liabilities                                        _____                    _____                    _____

 

Disclaimer: This statement presents a managerial view of ABC School of Business’s operations focused primarily on cash available for use. It is not intended to present the financial results in accordance with generally or international accepted accounting principles or standards. A presentation in accordance with GAAP would report higher operating revenues for gifts and endowment distribution and would include depreciation expense, yielding income from operations of xxx thousand [or million] in fiscal [state the year]. Cash flows, however, would be equivalent under [state the accounting principle applied in the computation].


 

Notes to the Statement of Educational Conditions 

and Consolidated Financial Statements

 

Include information on

  • Educational policies and practices
  • Explanations of items
  • Significant accounting polices
  • Etc.

 

[Note: Required disclosure should be presented on the face of the Statement of Educational Condition, and the Consolidated Financial Statements, rather than the notes.]

 

 

 

[signed}                                              [signed]

______________                                _______________

 

President or designated                      Vice President for Academic Affairs

or designated person                           or designated person

 

 

 

 


Attachment

 

Management Report of the Directors

 

Please report significant achievements, setbacks and/or developments over the past three years, contingencies, and future outlook relating to students, faculty and staff, finance, licensing (disregard ranking, popularity contents, etc.).

 

[signed}

_____________

 

 

Director/Trustee

On behalf of the Board of Directors/Trustees

 

Please enclose hardcopies of the official catalogues for the past three years or more.


 


AASBI

 

ASSOCIATION OF ACCREDITED SCHOOLS OF BUSINESS INTERNATIONAL
Formerly Asian Association of Schools of Business International   

 

___________________________________________________________________________________________________

 

APPLICATION CHECKLIST and AFFIRMATIONS

 

PLEASE FILL IN BY HAND IN CAPITAL LETTERS, IN THE ENLISH LANGUAGE, CHECK THE “YES” OR “NO” BOXES, DATE AND SIGN.  AND SUBMIT TO (1) AASBI AND TO (2) THE ACCREDITATION AUDITOR TOGETHER WITH THE APPLYING SCHOOL’S (OR COLLEGE’S OR DEPARTMENT’S) STATEMENT OF EDUCATIONAL CONDITIONS  AND DIRECTORS’ REPORT.

 

NOTE: THE AASBI BOARD’S ACCREDITATION DECISION (INCLUDING RENEWAL(S) IS/ARE DISCRETIONARY WITHOUT RECOURSE, BASED ON THE ALL AVAILABLE INFORMATION, FACTS AND SURROUNDING CIRCUMSTANCES IN THE APPLICANT’S EFFORTS TO COMPLY WITH AASBI’S GENERALLY ACCEPTED EDUCATION PRINCIPLES (GAEP).  

 

Line

A

Name of the legal entity applying:

 

 

Line

B

Name of the operating entity applying, if different:

 

 

Line

C

Main physical location and address:

 

 

Line

D

Contact person:

 

 

Telephone number:

Email address:

Line

E

Additional contact person(s), if any

 

:

 

 

 

1

GAEP Statement 1

The Applicant is a degree-granting institution (eg, associate and bachelor, master, or higher

Yes

No

2

GAEP Statement 2

The Applicant’s jurisdiction is a States Party to the United Nations Universal Declaration of Human Rights (UDHR), and respects and protects the human rights in particular of movement, thought, conscience, religion and expression.

Yes

No

2-1

If Applicant’s affirmation is “no”, describe in key words below the reasons for your information and belief, in particular as they relate to former or present faculty, staff and students detained for “political offences” in the widest sense, and prospect of release  from detention (attach a separate sheet, if more space is needed).

 

 

 

3

GAEP Statement 3

The Applicant’s practices and policies affirm the UDHR.

Yes

No

4

GAEP Statement 4

The Applicant provides equal opportunity to all (faculty, staff and students) based on merit  without discrimination on the basis of unchangeable personal characteristics including nationality, religion and sexual orientation.

Yes

No

4-1

If Applicant’s affirmation is “no”, describe in key words below the Applicant’s reasons (attach a separate sheet, if more space is needed).

 

 

 

5

GAEP Statement 5

The Applicant’s teaching location(s) is/are accessible and safe, with a bookstore and library (or adequate internet access), recreational facilities or a park, cafeteria or restaurant access on campus or close-by, as well as medical facilities for emergencies.

Yes

No

6

The Applicant has been in existence for a period of four academic years or more, graduated at least one cohort, and is expected to continue to exist (as a “going concern”) until the end of the accreditation period (which is normally two full academic years, in some cases three)

Yes

No

7

GAEP Statement 7

The school (college or department0 is autonomous and distinguished from any and all other units of the larger educational entity, if any; subject to governmental regulation only as required by law.

Yes

No

7-1

If Applicant’s affirmation is “no”, describe in key words below (attach a separate sheet, if more space is needed)

 

 

 

8

GAEP Statement 8:

The teaching facilities are sufficiently spacious with teaching aids including overhead projectors and the like, computer labs, student access to physical or digital books, recreational facilities, park and/or sitting areas, medical emergency facility(ies), in a geographical area relatively free natural disasters or adequate protection eg by designed or retrofitted construction(s), and is not in a war zone or zone of continuous military conflict.

Yes

No

9

GAEP Statement 9:

The Applicant’s curriculum focuses on general management and business administration and related fields.

Yes

No

10

GAEP Statement 10:

The Applicant provides professional certification programs at the School by members of the faculty or qualified outside professionals, including but not limited to accounting programs preparing students for the uniform examinations for the certified public accountant, chartered accountant and/or certified controller or certified management accountant, or chartered financial analyst..

Yes

No

11

GAEP Statement 11:

The Applicant accepts students on the basis of their demonstrated preparation, academic and/or

Professional curiosity, who, the Applicant believe, will benefit from the education offered within a set time frame to become contributing members of society.

Yes

No

12

GAEP Statement 12:

The Applicant is making continuous efforts in measuring teaching effectiveness, eg by way of measuring learning outcomes.

Yes

No

13

GAEP Statement 13:

The Applicant’s teaching faculty are academically and/or professionally qualified within the meaning of GASP Statement 13, and as outlined in detail in the Applicant’s accompanying Statement of Educational Conditions.

Yes

No

14

GAEP Statement 14:

The Applicant allows faculty members sufficient time for personal activities including research, CPE and seminars and/or consulting activities insider or outside the business schools, or college, or department. The faculty members’ teaching load does not exceed six (6) semester courses per academic years; and does not exceed eight (8) semester course per academic year if co-teaching.

Yes

No

15

GAEP Statement 15:

The Applicant allows faculty members adequate time for leisure, seminars and other extra-curricular activities.

Yes

No

15-1

Re GAEP Statement 15:

The Applicant attaches a written statement from the School’s Faculty Association, addressing GAEP Statement 15.

Yes

No

16

GAEP Statement 16:

The Applicant encourages and monitors its faculty members’ including adjuncts’ CPE (Continued Professional Development)  including but not limited to publication requirements.

Yes

No

17

GAEP Statement 17:

AASBI does not distinguish between full-time and adjunct ( in particular, if professionally qualified and active) faculty. The Applicant is not required to affirm on this checklist.

 

18

GAEP Statement 18:

The Applicant should and does maintain an independent Faculty Association for the purpose of amicable resolutions, or, if deemed necessary as a last resort, collective action.

Yes

No

19

GAEP Statement 19:

The Applicant has an adheres to an accepted code of conduct for all members of the School including faculty, staff and students.

Yes

No

20

GAEP Statement 20:

The AASBI place no value on the School’s general reputation. The Applicant is not expected to affirm on this checklist.

 

21

GAEP Statement 21:

The Applicant has access to sufficient liquid funds to cover one semester of the aggregate of staff and faculty salaries and facility maintenance.

Yes

No

22

GAEP Statement 22:

The Applicant is aware of its discretion to withdraw from accreditation at any state, and at any time with reasons in order to assist the AASBI, or without reasons.

Yes

No

23

GAEP Statement 23:

The Applicant acknowledges that Director(s) of AASBI is obligated to request an accredited School to withdraw from accreditation under the circumstances further described in GAEP Statement 23,

Yes

No

24

GAEP Statement 24:

The Applicant acknowledges and specifically waives any right(s) to recourse in the courts of competent jurisdiction or any other panel, as further described in GAEP Statement 24.

Yes

No

25

GAEP Statement 25:

The Applicant acknowledges its right and obligation to appoint one of its teaching faculty as a liaison and member of the AASBI’s informal steering committee during the entire period of accreditation including renewal(s).

Yes

No

26

GAEP Statement 26:

The Applicant undertakes to reimburse the AASBI for any reasonable outlays incurred for this application including travel and accommodation for site visit and other expenses.

Yes

No

 

 

      I affirm on behalf of the Applicant that the information provided above is true and correct.

       

      DATED at __________________________________, on this ___________ day of ___________________ 20_______.

       

       

      Authorized signature(s)

       

       

       

      ______________________________________________________

      Signed

       

      Name in capital letters: ___________________________________                                     [ Seal ]

       

      Title or function: ________________________________________

       

       

      Signed

       

      Name in capital letters: ___________________________________                                     [ Seal ]

       

      Title or function: ________________________________________

       

       

       

       



[1] The names of the persons mentioned in this example of a Statement of Educational Conditons, institutions and countries are fictitious.