FOR CONFIRMATION PUBLIC CLOSED SESSION TO: Executive Committee SPONSOR: Professor Cheryl Regehr CONTACT INFO: 416-978-2122, [email protected] PRESENTER: CONTACT INFO: DATE: June 6, 2017 for June 13, 2017 AGENDA ITEM: 7 (a.) ITEM IDENTIFICATION: New Graduate Program Proposal: Master of Accounting and Finance (M.Acc.Fin.), University of Toronto Scarborough JURISDICTIONAL INFORMATION: The Academic Board is responsible for approving proposals for new graduate programs and degrees, subject to confirmation by the Executive Committee of the Governing Council (Academic Board Terms of Reference, Section 5.3.2(ii)). GOVERNANCE PATH: 1. Committee on Academic Policy and Programs [for recommendation] (May 9, 2017) 2. Academic Board [for approval] (May 29, 2017) 3. Executive Committee [for confirmation] (June 13, 2017) PREVIOUS ACTION TAKEN: The proposal for the Master of Accounting and Finance received approval from the University of Toronto Scarborough on April 25, 2017. HIGHLIGHTS: This is a proposal for a four session, full-time professional master’s degree called Master of Accounting and Finance (M.Acc.Fin.). It will be offered by the Department of Management, University of Toronto Scarborough. The program is cohort-based and consists of 17 required courses (8.5 FCE) including an integrated Co-op taken in the third session. This proposal responds to a growing need in industry for dual professional designations in both Accounting and Finance. Employers are looking for graduates with both the Chartered Page 1 of 2 Executive Committee, May 31, 2017 – Proposal for a new professional graduate degree program Master of Accounting and Finance Professional Accountant (CPA) and the Chartered Financial Analyst (CFA) designations because of the flexibility and opportunities that the dual designations provide. Combining the CPA and CFA designations will ensure that our graduates are uniquely positioned for the marketplace. The MAcc.Fin. curriculum will provide students with ‘how’ to do what they need to in Accounting and Finance for accreditation, and will also delve deeper into ‘why’ they are doing what they are doing. The program is designed to teach the ways in which Accounting and Finance are integrated and how the models and theories drawn from one discipline inform the other; in accordance with this aim, the program will integrate Accounting, Finance topics and other areas of Management when solving complex issues in the business world. Students graduating from the proposed program will be well positioned to pursue careers in Accounting and Finance and also to move between these areas. Graduates will be competitive in all industries allowing them to become leaders in consultancy, project management, portfolio management and accounting. Graduates will be able to obtain positions such as account managers, wealth managers, analysts and consultants, ultimately advancing their careers into the highest level of leadership positions such as Treasurers, Chief Financial Officers (CFOs) and Chief Executive Officers (CEOs) or Presidents. Consultation took place with the Rotman School of Management, the University of Toronto Mississauga, and the Faculty of Arts and Science, as well as with students. The program was subject to external appraisal on February 27, 2017 by Professor Ross Jennings, McCombs School of Business, University of Texas at Austin and Professor Pauline Shum Nolan, Schulich School of Business, York University. The external appraisers made a number of suggestions, which resulted in changes to the program as is reflected in the Dean’s response to the appraisal report. The proposal received approval from the University of Toronto Scarborough on April 25, 2017. FINANCIAL IMPLICATIONS: The new financial obligations resulting from this program will be met at the Faculty level. RECOMMENDATION: Be it Confirmed THAT the proposed, Master of Accounting and Finance (M.Acc.Fin.) degree program, as described in the proposal from the University of Toronto Scarborough dated April 4, 2017, be approved, effective May 1, 2018. DOCUMENTATION PROVIDED: • Proposal to create the Master of Accounting and Finance Page 2 of 2 University of Toronto New Graduate Program Proposal Full Name of Proposed Program: Master of Accounting and Finance Degree Name and Short Form: Master of Accounting and Finance, MAcc.Fin. Program Name: Accounting and Finance Professional Program (yes/no) Yes Unit (if applicable) offering the program : Department of Management Faculty / Division: University of Toronto Scarborough Mary Silcox, Vice-Dean Graduate [email protected] Dean’s Office Contact: Annette Knott, Academic Programs Officer [email protected] Professor David Zweig, Chair, Department of Management Proponent: Professor Lisa Harvey, Department of Management Version Date: (please change as you edit proposal) April 4, 2017 New Graduate Program Proposal for Master of Accounting and Finance Page 1 of 222 New Graduate Program Proposal Master of Accounting and Finance University of Toronto Scarborough Department of Management Table of Contents 1 Summary ..................................................................................................................................... 4 2 Effective Date .............................................................................................................................. 6 3 Program Rationale ....................................................................................................................... 6 4 Fields/Concentrations ............................................................................................................... 12 5 Need and Demand ..................................................................................................................... 12 6 Enrolment .................................................................................................................................. 14 7 Admission Requirements ........................................................................................................... 14 8 Program Requirements ............................................................................................................. 16 9 Program Description .................................................................................................................. 18 10 Degree Level Expectations, Program Learning Outcomes and Program Structure ................. 21 11 Assessment of Learning ........................................................................................................... 26 12 Consultation ............................................................................................................................ 27 13 Resources: ............................................................................................................................... 28 13.1 Faculty Complement ..................................................................................................... 29 13.2 Learning Resources ....................................................................................................... 35 13.3 Financial Support for Graduate Students ...................................................................... 35 13.4 Space/Infrastructure ..................................................................................................... 36 14 Quality and Other Indicators ................................................................................................... 36 15 Governance Process ................................................................................................................ 36 Appendix A: Courses ..................................................................................................................... 38 Appendix B: Graduate Calendar Copy .......................................................................................... 43 Appendix C: Library Statement ..................................................................................................... 46 Appendix D: Student Support Services ......................................................................................... 50 Appendix E: Accounting and Finance Programs ........................................................................... 57 Appendix F: Alumni & Undergraduate Survey Results ................................ ................................. 69 Appendix G: Summary of Accounting and Finance Professional Education Requirements ......... 75 New Graduate Program Proposal for Master of Accounting and Finance Page 2 of 222 Appendix H: Summary of Specific Course Requirements for Admission ...................................... 81 Appendix I: Terms of Reference for Program Delivery ................................................................. 86 Appendix J: Course Outlines ......................................................................................................... 88 Appendix K: External Appraisal Report ....................................................................................... 208 Appendix L: Dean’s Administrative Response ............................................................................ 213 Appendix M: Response of the Vice-Provost ............................................................................... 222 New Graduate Program Proposal for Master of Accounting and Finance Page 3 of 222 Summary This is a proposal to introduce a new professional Master’s program in Accounting and Finance (MAcc.Fin.), which will be housed in the
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