ACT410: Accounting for governmental & nonprofit entities

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ACT410: Accounting for governmental & nonprofit entities
Credit Hours:       3

Contact Hours:      This is a 3-credit course, offered in accelerated format. This means that 16 weeks of
                    material is covered in 8 weeks. The exact number of hours per week that you can
                    expect to spend on each course will vary based upon the weekly coursework, as
                    well as your study style and preferences. You should plan to spend 10-25 hours per
                    week in each course reading material, interacting on the discussion boards, writing
                    papers, completing projects, and doing research.

Faculty Information


Name:
Phone:
CSU-GC Email:
Virtual Office Hours:

Course Description and Outcomes


This course provides a thorough understanding of governmental accounting topics. Topics covered include the
financial reporting of state and local governments, learning about the governmental operating statement
accounts and budgetary accounting, accounting for general capital assets and capital projects.

Course Learning Outcomes:

    1. Describe the key unique characteristics of government and non-profit accounting.
    2. Demonstrate an understanding of fund accounting and how the different funds are treated in related to
       the required entries.
    3. Articulate budgetary accounting and reporting practices related to this.
    4. Analyze the format and content of the fund financial statements and government wide financial
       statements.
    5. Assess and present knowledge of the timing of recognition and classification of revenues and expenses
       of non government not for profit entities.
    6. Prepare non government not for profit organizational financial statements.
Participation & Attendance

Prompt and consistent attendance in your online courses is essential for your success at CSU-Global Campus.
Failure to verify your attendance within the first 7 days of this course may result in your withdrawal. If for some
reason you would like to drop a course, please contact your advisor.

Online classes have deadlines, assignments, and participation requirements just like on-campus classes. Budget
your time carefully and keep an open line of communication with your instructor. If you are having technical
problems, problems with your assignments, or other problems that are impeding your progress, let your
instructor know as soon as possible.


Course Materials

Required:

Wilson, E., Reck, J, & Katelus, S. (2010). Accounting for governmental & nonprofit entities (15th ed.). New York,
NY: McGraw Hill Publishers. ISBN: 9780073379609


Course Schedule


Due Dates
The Academic Week at CSU-Global begins on Monday and ends the following Sunday.
      Discussion Boards: The original post must be completed by Thursday at 12 midnight MT and Peer
      Responses posted by Sunday 12 midnight MT. Late posts may not be awarded points.
      Mastery Exercises: Students may access and retake mastery exercises through the last day of class until
      they achieve the scores they desire.
      Critical Thinking Activities: Assignments are due Sunday at 12 midnight MT.

Week #                                 Readings                                            Assignments

               Chapter 1 in Accounting for governmental & nonprofit                Discussion Board (25)
   1           entities                                                            Mastery Exercises (10)
                                                                                   Critical Thinking (50)
               Chapters 2 & 3 in Accounting for governmental & nonprofit           Discussion Board (25)
   2           entities                                                            Mastery Exercises (10)
                                                                                   Critical Thinking (50)
               Chapters 4 & 5 in Accounting for governmental & nonprofit           Discussion Board (25)
   3           entities                                                            Mastery Exercises (10)
                                                                                   Critical Thinking (50)
               Chapters 6 & 7 in Accounting for governmental & nonprofit           Discussion Board (25)
   4           entities                                                            Mastery Exercises (20)
                                                                                   Critical Thinking (50)
                Chapter 8 in Accounting for governmental & nonprofit                      Discussion Board (25)
   5            entities                                                                  Mastery Exercises (10)
                                                                                          Critical Thinking (50)
                Chapters 9 & 10 in Accounting for governmental &                          Discussion Board (25)
   6            nonprofit entities                                                        Mastery Exercises (10)
                                                                                          Critical Thinking (50)
                Chapter 14 in Accounting for governmental & nonprofit                     Discussion Board (25)
   7            entities                                                                  Mastery Exercises (10)
                                                                                          Critical Thinking (50)
                Chapter 15 in Accounting for governmental & nonprofit                     Discussion Board (25)
                entities                                                                  Mastery Exercises (20)
   8            Review Chapter 12 in Accounting for governmental &                        Portfolio Assignment (350)
                nonprofit entities before completing the Portfolio Project.


Assignment Details

This course includes the following assignments/projects:

Week 1

    Critical thinking: Accrual and Modified Accrual Basis of Accounting (50 points)

        Submit your responses to the following questions in a 1-2 page summary MSWord document. Label each question
        clearly. For written answers, please make sure your responses are well written, use APA formatting, and have the
        proper citation, if needed.
             1. How does the modified accrual basis of accounting differ from the accrual basis?
             2. What are the three sections of a comprehensive annual financial report (CAFR)? What information is
                  contained in each section? How do the minimum requirements for general purpose external financial
                  reporting related in scope to the CAFR?

        Portfolio Milestone:

        Read the Portfolio Project Description on the Module 8 Assignment page. The Portfolio Project requires that you
        demonstrate your ability to solve and present financial accounting problems. You will be asked to prepare an audit
        report using the companion website to access the City of Bingham Project.

        You will need to use the web access code provided with your textbook to access the City of Bingham Computerized
        Cumulative Problem.

        Please note: you will asked to download the software to your system, unzip files, and complete the project
        The project is designed to follow the chapters in the book and is best if it is completed along with the readings in
        your modules.

        It is strongly recommended that you open and begin the project during Module 1.
        This final project will be due at the end of course, to be submitted through the assignment link by Sunday midnight
        of Week 8.

        Preview the Portfolio Project Description, which can be found on the Module 8 Assignments page. Also view the
        Portfolio Project Rubric, which can be accessed from the Course Information page.
Week 2

     Critical Thinking: General Fund and Governmental Activities (50 points)

     Submit your responses to the following questions in a 1-2 page summary MSWord document. Label each question
     clearly. For computations done in an Excel spreadsheet, please copy and paste your work into your MSWord
     document. For written answers, please make sure your responses are well written, use APA formatting, and have
     the proper citation, if needed.

     Amber City borrowed $1,000,000 secured by a 5-year mortgage note. The cash from the note was used to
     purchase a building for vehicle and equipment maintenance. Show how these two transactions should be recorded
     in the General Fund and governmental activities general journals.

     Indicate whether the following revenues would most likely be classified as program revenues or general revenues
     on the government-wide statement of activities.
          1. Unrestricted operating grants that can be used at the discretion of the city council.
          2. Capital grants restricted for highway construction.
          3. Charges for building inspections.
          4. A special assessment for snow removal.
          5. Fines and forfeits.
          6. Motor vehicle fuel taxes restricted for road repair.
          7. Unrestricted investment earnings.

     Portfolio Milestone:

     Refer to the Portfolio Project Instructions on the Week 8 Assignments page and complete the Bingham City project
     for Chapter 2. You will submit the entire Portfolio Project at the end of Week 8.

Week 3

     Critical Thinking: General Fund and Leasing in Government Accounting (50 points)

     Submit your responses to the following questions in a 1-2 page summary MSWord document. Label each question
     clearly. For computations done in an Excel spreadsheet, please copy and paste your work into your MSWord
     document, For written answers, please make sure your responses are well written, use APA formatting, and have
     the proper citation, if needed.
          1. If the General Fund of a certain city needs $6,720,000 of revenue from property taxes to finance
               estimated expenditures of the next fiscal year and historical experience indicated that 4% of the gross levy
               will not be collected, what should be the amount of the gross levy for property taxes? Please show all
               computations in good form.
          2. How does one determine whether a particular lease is a capital lease or an operating lease? What entries
               are required in the general journals of a government fund and governmental activities at the government-
               wide level to record a capital lease at its inception?

     Portfolio Milestone:

     Refer to the Portfolio Project Instructions on the Week 8 Assignments page and complete the Bingham City project
     for Chapters 4 and 5. You will submit the entire Portfolio Project at the end of Week 8.

Week 4

     Critical Thinking: Long Term Liabilities and Uncollectible Accounts (50 points)
     Submit your responses to the following questions in a 1-2 page summary MSWord document. Label each question
     clearly. For computations done in an Excel spreadsheet, please copy and paste your work into your MSWord
     document. For written answers, please make sure your responses are well written, use APA formatting, and have
     the proper citation, if needed.
          1. How are general long-term liabilities distinguished from other long-term liabilities of the government?
               How does the financial reporting of general long-term liabilities differ from the financial reporting of other
               long-term liabilities?
          2. How does GASB reporting of uncollectible accounts for governmental funds and proprietary funds differ
               from the reporting of uncollectible accounts under FASB standards?

     Portfolio Milestone:

     Refer to the Portfolio Project Instructions on the Week 8 Assignments page and complete the Bingham City project
     for Chapters 6 and 7. You will submit the entire Portfolio Project at the end of Week 8.

Week 5

     Critical Thinking: Pass Through Agencies and GASB Investment Reporting (50 points)

     Submit your responses to the following questions in a 1-2 page summary MSWord document. Label each question
     clearly. For computations done in an Excel spreadsheet, please copy and paste your work into your MSWord
     document. For written answers, please make sure your responses are well written, use APA formatting, and have
     the proper citation, if needed.
          1. What is a "pass-through" agency-fund and under what conditions is it appropriate to use such a fund?
          2. GASB standards require that investments be reported at fair value. Explain the GASB reporting
               requirements related to fair value. How do these requirements differ from reporting requirements for
               corporate entities?

     Portfolio Milestone:

     Refer to the Portfolio Project Instructions on the Week 8 Assignments page and complete the Bingham City project
     for Chapters 6 and 7. You will submit the entire Portfolio Project at the end of Week 8.

Week 6

     Critical Thinking: Government Financial Reporting (50 points)

     Submit your responses to the following questions in a 1-2 page summary MSWord document. Label each question
     clearly. For computations done in an Excel spreadsheet, please copy and paste your work into your MSWord
     document. For written answers, please make sure your responses are well written, use APA formatting, and have
     the proper citation, if needed.
          1. A city manager was overheard saying, "Since we don't release them to the public, I don't see any value in
               taking the time to prepare interim reports." Explain why you agree or disagree with this statement.
          2. Describe how a taxpayer might assess the financial solvency and viability of a government using
               government-wide financial statements prepared according to generally accepted accounting principles.

     Portfolio Milestone:

     Refer to the Portfolio Project Instructions on the Week 8 Assignments page and complete the Bingham City project
     for Chapters 9 and 10. You will submit the entire Portfolio Project at the end of Week 8.
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