Certified Evaluation and Accreditation Results for Professional Graduate Business School The Graduate School of International Accounting, Chuo University
The Graduate School of International Accounting (hereafter, GSIA) at Chuo University, whose goal is to operate as a professional degree program, sets its own unique purpose, which is "to allow students to cultivate deep academic knowledge and excellent abilities to take job responsibilities in the fields of accounting, financing, and other related areas." With this purpose, two professional degrees can be earned at the GSIA: ''MBA in International Accounting" and "MBA in Finance." It is commendable that practice- oriented education has been offered at the GSIA in order to foster professionals in accountancy and finance as it differentiates the school from other business schools. The unique purpose of the GSIA program has been defined and stated in its school regulations, publicized on its website, published in its guidebook, and widely disseminated to the public. In addition, the GSIA's faculty members and students are well informed of the purpose, as the GSIA has published it in its homepage and registration guidelines and as it has offered explanations and ascertainments at "full- and part-time faculty members' meetings." In terms of the GSIA's policies for granting degrees (i.e., diploma policy), items such as "images of persons fostered," "characters and abilities cultivated by the time of program completion," "the amount of learning and requirements for program completion," and "the career paths to be expected after the graduation" are defined, and they are clearly included in the registration guidelines as well as the information posted at homepage. Through these outlets, the diploma policy is clearly conveyed and available to current and prospective students. The GSIA's policies for curriculum organization and implementation (curriculum policy) state that "its curriculum allows students to take classes that meet their learning progresses by organizing subjects into three groups (i.e., introductory, basic, and advanced) based on their contents in order for the students to cultivate practical and applied knowledge and skills that have a theoretical basis." Moreover, it is commendable that the GSIA's curriculum contributes to the achievement of its unique purpose. That is, following curriculum policy, in order to foster talented persons who can deal swiftly with changes in the business environment, while understanding theory, the GSIA has set up "Case Studies (research on corporations)" and "Project Seminar" as required classes. Thus the curriculum organization at the GSIA sufficiently considers how to bridge theory and practice in business education. Furthermore, the GSIA has thought carefully and allowed students to learn substantively with good outcomes by offering appropriate course work. In particular, it sets both the credit numbers required for program completion and the maximum credit numbers students can take in a given year. The standards and methods for evaluation of the completion of the programs are properly informed and widely disseminated through registration guidelines, student handbooks, and the university's home pages. In addition, it is highly commendable that the school offers unique education aimed at enhancing students' practical abilities. For example, the "Project Seminar," a class with a small number of students, shows this practical character of the coursework in the GSIA. In the project seminar classes, students, forming several groups, participate in discussions, conduct meetings with corporate executives and contact persons (where their projects take place), and make presentations to these people based on their project reports. Having said the above, Japan University Accreditation Association (JUAA) would like to point out several issues in the GSIA that need to be addressed. First, the GSIA has organized its curriculum specifically to meet the International Financial Reporting Standards (IFRS). It is, thus, necessary to respond sufficiently and thoughtfully to the changes and trends surrounding the IFRS. In addition, the subject "Professional Ethics" is offered as a special (occasional) lecture. It is desirable that the subject is offered regularly as a core subject in the area of accounting taught at a professional graduate school. Second, it is strength of the GSIA that students can pursue a Masters in accounting or finance (by choosing one from the courses toward two degrees that are different from each other); however, the choice of the course is left entirely with each student. In the future, in addition to the indication of the course taking models, the GSIA should establish a system through which it can assist students in choosing their degree programs based on their career plans. (Moreover, it is a major advantage that students can pursue the degree of MBA in Finance after they acquire the specialized knowledge of accountancy at the GSIA.) Making the most of these strengths, it is expected that the GSIA will devise concrete measures to recruit a sufficient number of students to fill the enrollment capacity. For example, it can pronounce a new, additional purpose of fostering persons of talents who can be chief financial officers (CFOs). Third, it is expected that the GSIA will make efforts for enriching its faculty development opportunities, including assessment of classes by external evaluators. For example, even though the GSIA has made efforts for linking the results of course evaluations to improvements in education, and has established a "Faculty Development Committee" that systematically organizes seminars, research activities, and course evaluations filled by students and an "Advisory Board" consisting of third-party board members. However, the GSIA has not had faculty members observe and evaluate each other’s classes. Finally, considering that the school offers classes in the evenings and on Sundays and holidays, the hours in which the health center office is open for students should be more flexibly managed in order to offer more counsel and assistances concerning students' physical and mental health. JUAA expects that the GSIA will develop as a professional business school specializing in the area of accountancy that meets the expectations of society by continuously making efforts for improving and reforming itself, by addressing swiftly and sufficiently the issues raised above, and by taking various initiatives, including self- studies and evaluations, to improve itself.