SUGGESTED EXAMPLE
MINIMUM DISCLOSURE
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
|
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
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
Facilities
Available to the
[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
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
- 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
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)
DC Tech, DBA (accounting)
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
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
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 |
___________________________________________________________________________________________________
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: |
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Line B |
Name
of the operating entity applying, if different: |
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Line C |
Main
physical location and address: |
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Line D |
Contact
person: |
Telephone
number: |
Email
address: |
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Line E |
Additional
contact person(s), if any : |
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1 |
GAEP
Statement 1 The
Applicant is a degree-granting institution (eg, associate and bachelor,
master, or higher |
Yes |
No |
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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). |
|
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3 |
GAEP
Statement 3 The
Applicant’s practices and policies affirm the UDHR. |
Yes |
No |
||
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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). |
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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 |
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7-1 |
If
Applicant’s affirmation is “no”, describe in key words below (attach a
separate sheet, if more space is needed) |
|
|||
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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 |
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9 |
GAEP
Statement 9: The
Applicant’s curriculum focuses on general management and business
administration and related fields. |
Yes |
No |
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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 |
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|
12 |
GAEP
Statement 12: The
Applicant is making continuous efforts in measuring teaching effectiveness,
eg by way of measuring learning outcomes. |
Yes |
No |
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|
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 |
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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 |
||
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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 |
||
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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 |
||
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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. |
|
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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 |
||
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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. |
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|||
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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 |
||
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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 |
||
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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.