National Academic Reference Standards

Faculties of Commerce Sector

January 2009

Contents

Foreword	1
Acknowledgements	3
Purpose of the guide	4
Methodology used to prepare the guide	5
Definition of the sector	7
National Academic Reference Standards	11
General graduate attributes	11
Accounting and auditing programme	15
Business administration programme	19
Insurance programme	22
Programme structure	24
Glossary	25

Foreword

In response to national needs for the development of education and the improvement of its quality, President Mohamed Hosni Mubarak issued Presidential Decree No. (82) of 2006 establishing the National Authority for Quality Assurance and Accreditation of Education. He also issued Decree No. (25) of 2007 containing the Authority's executive regulations. In light of the Authority's mandate, which includes setting the policies required to assure quality in education and taking the measures necessary to accredit educational institutions in Egypt, the Authority designed and prepared the national academic reference standards required for evaluation and accreditation, drawing on international experience while preserving Egypt's identity.

In light of global and regional change, and the accompanying shift in economic and social thinking in which natural resources are no longer the sole backbone of development but the knowledge economy has become a central pillar of development and reform plans, education stands as one of the foundations of sustainable development and a basic guarantee of national security. This requires an advanced education system of high quality measured against reference standards, together with governing and continuous systems for measuring and evaluating the actual practice of educational institutions.

Good education in the knowledge age is concerned with encouraging students to be creative and innovative, to use technology and to continue learning independently. This calls for the development of educational institutions by strengthening their institutional capacity and educational effectiveness, and by directing programmes and courses towards building the knowledge and skills that match labour market requirements, and towards giving the graduate enough flexibility to keep pace with future change.

In light of the above, the Authority prepared an integrated system for quality assurance and continuous improvement of education in Egypt, and produced a set of guides to the national academic reference standards in the different fields of knowledge to help build educational programmes in Egypt's higher education institutions, working with representatives of end beneficiaries and of the community stakeholders concerned with the development of education.

National Authority for Quality Assurance and Accreditation of Education

Acknowledgements

The National Authority for Quality Assurance and Accreditation of Education extends its thanks and appreciation to all the working teams, the faculty members, education experts and representatives of the beneficiary sectors, for the effort they made in setting the national academic reference standards for the various fields of education.

The Authority must also record its sincere thanks, appreciation and gratitude for the unlimited support it received from the legislative and executive institutions of the state, which was of great help in fulfilling its mission and shouldering its responsibility in the work of developing education in the Arab Republic of Egypt.

The Authority further wishes to thank all the experts who contributed to this work through review, development and verification, with particular thanks to the Authority's Board and its advisers, and to the various community stakeholders who contributed opinion, comment or constructive criticism so that the guide could reach its final form.

Prof. Magdy Abdel Wahab Qasem

Chairman of the Board

National Authority for Quality Assurance and Accreditation of Education

Purpose of the guide

This guide is intended to help a broad range of those who work in, and benefit from, higher education in the various branches of knowledge, and in particular:

1. Higher education institutions, in building their programmes in a way that helps them achieve their educational objectives at bachelor's level and apply for accreditation.
2. Faculty members, in building educational programmes and courses and defining intended learning outcomes, and by providing a basis for comparing learning achieved against learning intended.
3. Students, by explaining the nature of the study and the fields of knowledge the student will cover during university education, and by giving them the chance to learn about future fields of work after graduation.
4. Those who benefit from university outputs, by setting out the graduate attributes in each educational sector, together with the competencies graduates acquire through study.
5. Civil society, by setting out the level and competence of graduates, which contributes to restoring civil society's confidence in higher education.

Methodology used to prepare the guide

To begin preparing the guides to the national academic reference standards in the different higher education sectors, a group of education experts was invited to set the general framework and the elements the guide should contain. A working group of experts from the public universities, the private universities and Al-Azhar University was also invited for each academic sector, to begin completing the guides in line with the Authority's vision. The working method consisted of the following steps:

• Brainstorming sessions:

The Authority held workshops to which a group of experts was invited to define the objectives, to set the general framework and the elements the guide should contain, to set the timetable for implementation, and to standardise the concepts and terms used for academic reference standards.

• Review of academic reference standards applied internationally:

A group of experts reviewed the academic reference standards issued by international accreditation bodies, and the academic reference standards applied in comparable faculties at universities around the world, in order to draw on them and reach international level, taking into account the requirements of the present stage and the preservation of Egypt's identity.

• Review of the national academic reference standards available in Egypt:

The committee formed by the National Authority for Quality Assurance and Accreditation of Education reviewed the available academic standards, which had been drawn up by the relevant sector committee of the Supreme Council of Universities at the Ministry of Higher Education and State for Scientific Research, and made the amendments required by the Authority so that the guide would meet the needs of higher education institutions.

• Submission to the technical committee formed by the Board:

The draft national academic reference standards were submitted to the technical committee formed by the Board to confirm that they contained the agreed basic elements of the standards, and to complete the technical drafting.

• Submission to end beneficiaries:

Once the draft national academic reference standards were complete, they were submitted to representatives of end beneficiaries, university faculty members, representatives of the Ministry of Higher Education and State for Scientific Research, and Al-Azhar institutions.

• Publication:

The Authority published the academic standards it had arrived at on its website, Naqaae.org, in order to receive all comments from the students, faculty members and end beneficiaries concerned.

• Approval of the guides:

After the Authority took whatever action it judged appropriate in light of the feedback on the standards, these standards were submitted to the Authority's Board for approval.

National Academic Reference Standards for Faculties of Commerce and Business Administration

One: Definition of the faculties of commerce and business administration sector:

The faculties of commerce and business administration sector has a set of characteristics that distinguish it from other sectors. Chief among them is that no institution or organisation, whatever the nature of its activity, is without managerial, accounting or insurance functions and their various sub-specialisations, which are the principal academic fields of the faculties of commerce; and the success of any institution depends to a large degree on the competence and skill of its human resources in these fields.

In addition, the faculties of commerce are among the faculties with large student numbers, both because demand for them is high and because they can absorb large numbers of students compared with the practical faculties.

Because a wide range of institutions and organisations need graduates of the faculties of commerce to work across managerial, financial, accounting and insurance activities, it is essential to raise the level of these graduates and to equip them with the knowledge and skills that enable them to perform their work to a high standard of competence, in line with the labour market's requirements and needs for that knowledge and those skills.

Local and global change and new developments make it necessary to equip graduates of the faculties of commerce with the competencies that enable them to compete in the labour market locally, regionally and internationally, and to qualify them for suitable employment opportunities in the following fields:

Accounting posts in government bodies and non-profit organisations, and in public sector and public business sector companies and authorities (industrial, agricultural, commercial and service); internal and external auditing and control posts; accounting and tax consultancy of all kinds; financial analysis and investment portfolio management posts; marketing and sales posts; human resources development and personnel posts; purchasing, stores and requirements management posts; public relations and advertising posts; production and operations posts; customer service posts; market research and study posts; insurance and risk management posts; underwriting and pricing posts across all branches of insurance; survey, loss assessment and claims settlement posts; case settlement posts in social insurance; technical provisioning and reserving posts; and financing and investment posts.

In addition to the above, the faculties of commerce sector contributes distinctive professional services to the various institutions and sectors of society, foremost among them:

• Feasibility studies and project appraisal.
• Preparing and developing the managerial and organisational structures of enterprises.
• Accounting, auditing and tax consultancy services.
• Designing requirements, human resources and stores systems.
• Designing accounting, managerial and marketing information bases.
• Preparing general and functional strategic plans.
• Actuarial expertise services in life, property and social insurance.
• Brokerage, survey and loss assessment work in insurance.
• Risk management services in business enterprises and non-profit institutions.

There is no doubt that setting academic standards for the programmes of the commerce sector will help raise the quality of the sector's educational programmes by: assuring continuous improvement, and development that keeps pace with all international developments in the academic and practical skills and knowledge that serve the sector's graduates. The main purpose of setting academic standards for the faculties of commerce sector is to assure a minimum level of quality in educational programmes, and to prepare students to standards that meet or exceed the expectations of the beneficiary bodies among society's institutions, whatever their activities, size or location, in a way that supports the added value of those institutions in serving the national economy and raising the welfare of the Egyptian citizen.

Fields and programmes of the faculties of commerce sector:

1. Accounting and auditing.
2. Business administration.
3. Insurance.
4. Economics and political science.

One: General academic reference standards for the graduate of the faculties of commerce:

1. General attributes of the graduate of the faculties of commerce:

The graduate of a faculty of commerce must be able to:

• Use the scientific method in thinking and problem solving.

2.1. Apply the knowledge and skills acquired in the field of specialisation to serve society and the surrounding environment positively.

3.1. Communicate and interact effectively with others.

4.1. Engage with global developments and change, and anticipate the nature and impact of those developments on the field of specialisation.

5.1. Continue learning in order to develop the professional knowledge and skills related to the field of specialisation.

6.1. Show commitment, accept responsibility and complete assigned work in accordance with legal rules and ethical and professional standards.

7.1. Prepare project feasibility studies and appraise investment proposals.

8.1. Use computers and information technology.

2. Knowledge and understanding:

The graduate must have acquired knowledge of, and be able to understand:

1.2. The different forms and types of business institutions and the features that distinguish each of them.

2.2. The different environments in which organisations operate and the methods of dealing with them.

3.2. Recent developments, trends and contemporary issues related to the field of specialisation.

4.2. The basic principles, theories, trends and schools of thought in the field of specialisation.

5.2. The disciplines closely related to the specialisation the student is studying.

6.2. Research methods and tools and techniques of measurement and analysis.

7.2. The integration between commercial sciences and the other social sciences.

8.2. Business ethics and professional practice in the field of specialisation.

3. Professional skills:

The graduate must have acquired the following professional skills:

1.3. Making effective use of physical, human and other resources, and developing and safeguarding them.

2.3. Conducting market studies and analysis.

3.3. Searching different sources of information and verifying their reliability.

4.3. Collecting statistics and data, analysing and interpreting them, and reading the economic and social indicators they reflect.

5.3. Designing and operating managerial, accounting and insurance systems, each within its field of specialisation.

6.3. Using scientific methods to solve practical problems.

7.3. The bases and principles of control and performance evaluation.

8.3. Preparing, presenting and interpreting reports in the field of specialisation in a scientific manner.

9.3. Using computer applications and information technology in the field of specialisation.

10.3. Using and applying the results of research and studies to develop work and improve levels of performance.

4. Intellectual skills:

The graduate must be able to:

1.4. Analyse, draw conclusions and follow the scientific method in thinking.

2.4. Apply the bases and principles of innovative thinking.

3.4. Criticise, discriminate and identify the positive and negative elements in the issues and questions put forward.

4.4. Work with figures, analyse them and interpret what they signify.

5.4. Deal positively with different situations in a way that turns threats into opportunities.

6.4. Present ideas and points of view clearly and give an opinion in a scientific manner supported by evidence and objectivity.

5. General skills:

The graduate must have acquired the following general skills:

1.5. Effective time management.

2.5. Effective communication and influencing others.

3.5. Teamwork.

4.5. Developing knowledge and understanding, and continuous self-directed learning.

5.5. Using problem-solving methods at individual or institutional level with a high degree of competence.

6.5. Presentation and discussion.

7.5. Self-management and coping with work pressure.

8.5. Innovation, development and continuous improvement at work.

9.5. Using the technical terminology related to the subjects of the programme.

10.5. Command of one widely used foreign language.

Two: Accounting and auditing programme:

1. Knowledge and understanding:

In addition to the general knowledge and understanding the graduate of a faculty of commerce must acquire, the graduate of the accounting and auditing programme must acquire the following knowledge and understanding:

1.1. Familiarity with the types of business enterprises, authorities and organisations, their legal frameworks, their economic activities and their technical nature.

2.1. The general framework of information systems (macro and micro) and their role in supporting decision making.

3.1. Aspects of accounting knowledge and their relation to related disciplines (political science, economics, law, insurance, business administration, statistics).

4.1. The concept and components of accounting theory, its standards and its applications.

5.1. The procedures for recording, classifying, analysing, presenting and interpreting financial transactions prepared manually and electronically.

6.1. The rules, principles and provisions governing the application of the various fields of accounting knowledge in practice, in all its forms (government and non-profit bodies, public economic authorities, private enterprises: industrial, agricultural, commercial and service).

7.1. The stages, procedures and methods of conducting financial feasibility studies for projects, the valuation of assets and liabilities, and methods of financial planning and budget preparation.

8.1. Understanding the relevant commercial, tax and financial legislation and its application.

9.1. The standards and procedures of internal audit (before and after disbursement).

10.1. The principles, rules and procedures of external audit of financial statements.

11.1. The rules governing transactions in securities (shares, bonds, treasury bills, etc.), their trading (domestically and abroad) and their indicators.

2. Professional and practical skills:

In addition to the general professional skills the graduate of a faculty of commerce must acquire, the graduate of the accounting and auditing programme must be able to:

1.2. Apply appropriate accounting methods, techniques, procedures and models, and prepare reports, financial statements and their annexes.

2.2. Prepare financial and cash budgets, feasibility studies, and the financial and accounting analysis and appraisal of investment alternatives, together with implementation follow-up reports.

3.2. Present information well through accounting reports, whether inside or outside the enterprise (balancing the disclosure intended against the confidentiality of information).

4.2. Select the appropriate audit sample and apply suitable methods and programmes to audit procedures according to the surrounding circumstances.

5.2. Carry out examination, audit, comparison, inference, evidencing and documentation of records, accounts and statements.

6.2. Provide the related financial, tax and management consultancy.

7.2. Pass the professional examinations in accounting and auditing held by the competent bodies.

3. Intellectual skills:

In addition to the intellectual skills of graduates of a faculty of commerce, the graduate of the accounting and auditing programme must be able to:

1.3. Interpret economic events and the financial transactions arising from them, and treat them in accounting terms by the appropriate method.

2.3. Distinguish and select the accounting methods and techniques appropriate to the nature of the enterprise's activity.

3.3. Interpret accounting information and figures and their significance for all concerned.

4.3. Devise and design accounting systems and work manuals and propose continuous improvement in line with the changes taking place.

Three: Business administration programme:

1. Knowledge and understanding:

In addition to the general knowledge and understanding the graduate of a faculty of commerce must acquire, the graduate of the business administration programme must acquire the following knowledge and understanding:

1.1. Using the scientific method in problem solving and decision making at the different management levels.

2.1. The bases for preparing plans, programmes and policies in line with institutional requirements.

3.1. The bases for preparing marketing feasibility studies and appraising investment proposals.

4.1. The bases for designing organisational structures and administrative systems and work manuals for the institution's various activities.

5.1. Grasping modern management philosophies such as total quality and business process re-engineering, and identifying opportunities to apply them in different fields of work.

6.1. The principles of leadership and of influencing others.

7.1. Organisational communication and working relations.

8.1. The bases of incentives and of building motivation in others.

9.1. The bases and concepts of policies, strategies and plans and the requirements for using them to meet the expectations of the organisation's stakeholders.

2. Professional skills:

In addition to the general professional skills the graduate of a faculty of commerce must acquire, the graduate of the business administration programme must be able to:

1.2. Prepare strategic plans and formulate business policies

2.2. Prepare and design the various systems and work manuals

3.2. Design and develop organisational structures

4.2. Design and manage management information systems and databases.

5.2. Prepare feasibility studies and appraise projects.

6.2. Prepare marketing and sales plans.

7.2. Carry out financial analysis and appraise investment projects

8.2. Analyse markets.

9.2. Prepare plans and programmes for using physical, human and other resources, and developing and safeguarding them.

10.2. Apply modern scientific systems and methods in business administration in practice.

3. Intellectual skills:

In addition to the intellectual skills of graduates of a faculty of commerce, the graduate of the business administration programme must be able to:

1.3. Practise innovative and creative thinking in facing different management situations.

2.3. Connect environmental variables with patterns of decision making.

3.3. Prepare the various scenarios, strategies and models for dealing with management events and issues.

Four: Relative distribution of teaching hours across the programme's courses:

Length of programme: 4 years.

120- 140

Programme structure

• Number of hours

Compulsory 120

Elective 30

Total 150

Curriculum courses	Number	%
Basic science courses	10	25%
Social science and humanities courses	5	12.5%
Specialisation courses	20	50%
Courses from other disciplines (computing and…	5	12,5%

– Field training: field training for second- and third-year students for 3 weeks in each year.

Five: Glossary:

• Higher education institution:

The faculties or higher institutes under the Ministry of Higher Education and State for Scientific Research, or the faculties of Al-Azhar University, which offer educational programmes in the field of agricultural education.

• Accreditation:

The recognition granted by the National Authority for Quality Assurance and Accreditation of Education to an educational institution when it demonstrates that it has the institutional capacity and achieves the educational effectiveness required by the standards approved and published by the Authority, and that it has advanced systems assuring the continuous improvement and enhancement of quality.

• National Academic Reference Standards (NARS):

The academic standards for the various educational programmes, prepared by the Authority with the help of specialist experts and representatives of the different beneficiary sectors. These standards represent the minimum that must be met for accreditation.

• Adopted standards:

The academic reference standards adopted by the institution and approved by the Authority, provided their level is higher than the minimum set by the national academic reference standards.

• Graduate attributes:

The set of attributes resulting from the acquisition of knowledge together with skills during study on a given programme, which set out what the graduate must possess on completing that programme.

• Educational programme:

The curricula, courses and activities that give the student the knowledge, skills and values needed to achieve planned educational objectives within a defined field of study.

• Community stakeholders:

All individuals, institutions and bodies that have a legitimate interest or concern, or that bear risks arising from the matter in question according to context. For an educational institution these are generally the students, parents, faculty members and their assistants, the institution's staff, representatives of the professional association related to the institution's programmes, and the individuals and civil society organisations that deal with the institution, whether as users of its services, as providers of training placements, or as its local community in geographical terms.

• Intellectual skills:

The skills in which the graduate uses the mind, drawing on the knowledge, understanding and professional skills acquired during study, to achieve a given objective.

• Professional skills:

The set of skills related to the profession, with which the graduate is able to practise it with the least possible risk.

• General skills:

The skills graduates must possess, which allow them to improve their performance while practising the profession, or help them change direction in line with labour market requirements. These skills fall into four main groups: foreign language, use of information technology, communication with others, and management. The educational institution determines the minimum that must be met in each of these skills during study, in line with its mission.