Syllabus
Government and Not-for-Profit Accounting

Government and Not-for-Profit Accounting

ACNT-2330

Credit Fall 2019
08/26/2019 - 12/15/2019

Course Information

Section 001
Distance Learning
ONL DIL
Sheila Ammons

Section 001
Laboratory

Sheila Ammons

Section 002
Distance Learning
ONL DIL
Sheila Ammons

Section 002
Laboratory

Sheila Ammons

Office Hours

  • NULL - NULL
    Online
    Online office hours - see course syllabus and the Blackboard course for ways to get help. Contact Sheila Ammons via Blackboard e-mail feature.

Instructor/Course Information

INSTRUCTOR INFORMATION

Instructor

Sheila Ammons, CPA, CGFM

Phone

Phone:  512) 223-1790 extension 22188 -  The best way to reach me is by using the Blackboard Email feature.

e-mail

sammons@austincc.edu

Web
Blackboard

http://www.austincc.edu/sammons
http://acconline.austincc.edu

Office Hours Office hours are on-line and by appointment.

Students work with the instructor in the following ways:

Send questions, comments and concerns to the instructor via the Blackboard e-mail feature.  Sheila checks e-mails at least 2 times each day, Monday - Saturday and responds to e-mails within 24 hours. Any departure from this schedule will the announced using the Blackboard Announcement Page.

Use the Blackboard Discussion to discuss chapter content.  This is equivalent to asking a question or making a comment in class.  By using the Blackboard Discussion board, all students benefit from the questions/comments and the responses.  Be sure to respond to the DB postings of your classmates.

If you need to work with the instructor via a phone call, video chat, or in-person meeting, send an e-mail (via Blackboard) and arrangements will be made.

Exam and other confidential student feedback will be made using the Blackboard Messages area. 

COURSE INFORMATION

CIP CODE AREA: 52.0301.00
COURSE LEVEL:
Advanced (Junior Level)
COURSE NUMBER: ACNT 2330 (Workforce Education Course Number)
COURSE TITLE: Governmental and Not-For-Profit Accounting
CREDIT HOURS: 3; Lecture Hours: 3, Lab Hours:  1
PREREQUISITE: ACNT 1371
METHOD OF PRESENTATION: 3 lecture hours/1 lab hour each week - ONL students use the Internet and email to complete coursework online. Discussion boards, streaming video, and instructional software may also be incorporated. Students use their own computers or the Computer Labs on campus.

COURSE DESCRIPTION:  A study of basic fund accounting and financial reporting concepts, applications, and practices for governmental and not-for-profit entities. The course coverage also includes budgeting; transaction analysis; general journal and special journals; journal entries; preparation, use and analysis of financial statements; auditing issues; and recent GASB and FASB pronouncements. Instructional program chair approval is needed. Course Fee:$50.00; Student Accident Insurance Fee: $1.00; Skills:0; Prerequisites  ACNT 1371: Course Type: W

INSTRUCTIONAL METHODOLOGY:  The objectives of this course will be met by incorporating a variety of instructional methods. These include Blackboard and myBusinessCourse (MBC) study tools, group activities, discussion board postings, problems/essays, quizzes, Spreadsheet and word processing activities, online research, and proctored exams.

COURSE RATIONALE:  The goals and objectives of this course prepare students for (1) completing degree requirements, (2) obtaining or improving job skills, (3) qualifying for a business or Accounting job, (4) working as an entrepreneur, (5) fulfilling personal goals, and/or (6) understanding financial statements and the basic accounting process.

This course is accepted by the Texas State Board of Public Accountancy as one of the 30 hours of upper division accounting courses.  To be accepted, students MUST HAVE completed a minimum of a bachelor’s degree PRIOR to taking this course.

Last Updated:  6/12/19

ACNT 2330 Online course: OVERVIEW

ACNT 2330 – Governmental and Not-for-Profit Accounting:  A study of basic fund accounting and financial reporting concepts, applications, and practices for governmental and not-for-profit entities. The course coverage also includes budgeting; transaction analysis; general journal and special journals; journal entries; preparation, use and analysis of financial statements; auditing issues; and recent GASB and FASB pronouncements. Instructional program chair approval is needed.  (Course Fee $50 Student Accident Insurance Fee $1.00; Skills:  O Prerequisites:  ACNT 1371 Course Type:  W)

The prerequisite for ACNT 2330 is ACNT 1371 - Business Applications in Accounting  ACNT 1371  (3-3-1): Overview of accounting information system and accounting cycle, financial statement preparation and time value of money applications. Introduction to research and writing for accountants.  The completion of ACNT 2303 - Intermediate Accounting 1 - is equivalent of completing ACNT 1371.  Dr. Peoples will make this determination at the advising session.

The prerequisite course (ACNT 1371) should prepare ACNT 2330 students to work with the basic accounting cycle: (1) analyze transactions, (2) prepare journal entries, (3) post journal entries, (4) prepare a trial balance, (5) prepare and post adjusting entries, (6) prepare an adjusted trial balance, (7) prepare financial statements, (8) prepare and post closing entries, and (9) prepare a post closing trial balance. Students must also be prepared to work with the rules of debits and credits, the steps of the accounting cycle; accrual accounting; financial accounting concepts; current and long-term liabilities (including bonds); and current and long-term liabilities.  Chapter 15 (Fundamentals of Accounting) of the course text provides a refresher of these required skills and knowledge. 

ACNT 2330 covers generally accepted accounting principles (GAAP) for State and Local Governments (GASB) and GAAP for private Not-For-Profit (nonprofit) entities (FASB) . As we work with the accounting cycle, rules of debits/credits, and basic financial accounting concepts, it is necessary to understand and apply new terminology and unique accounting processes/rules.  Thus, any refresher of prerequisite skills and knowledge must be completed prior to the start of Chapter 1.

This online course has mandatory due dates which cannot be extended. Thus students must  stay on schedule and have sufficient time to work with all aspects of the course. Students must be active with all course components and tools throughout each week of the semester.

Before enrolling, make sure that this course format is right for you.

Step 1:   Read about Distance Learning . Take the Learning Style Survey.

Step 2:  Make sure that you have time for this course.  A 16 week, three-hour, upper-level accounting course generally requires a weekly commitment of 3.5 hours in the classroom and 7 to 10.5  hours outside of the classroom.  For an online course, the total commitment should be 11-14 hours per week.  An 10 week, three-hour, upper-level accounting course, generally requires a weekly commitment of 5 hours in the classroom and 11.5-15 hours outside of the classroom.  For an online course, the total commitment should be 14-18 hours per week.  The use of the Internet will range between 8 and 12 hours per week.    Because of the mandatory deadlines, students cannot fall behind.

Step 3:  Read the course syllabus to make sure you understand how this online course works.  The following videos provide insight about this course:

ACNT 2330 Course Introduction  (10 min)

ACNT Tips to Success  (4:30 min)

If this is the right course for you, work with Dr. Peoples' office to get approval and complete the enrollment process.

MANDATORY ORIENTATION

This orientation will become available in the Blackboard course on 8/21/19 and must be completed by 11:45 PM on Sat. 8/31/19Students will be withdrawn from the course if they do not complete all components of the mandatory orientation by 11:45 PM on Saturday 8/31/19.

There are 3 components of the mandatory orientation:  (1) DB Postings - 10 pts; (2) Pre-requisite Assignment - 10 pts;
(3) Orientation Assignment - 20 pts)  Details are located in the Blackboard course - Start Here area.

Students are encouraged to complete the mandatory orientation assignments early.

Last Updated:  6/12/19

Readings

Accounting for Governmental & Nonprofit Organizations, 1st ed, Terry Patton, Suesan Patton, Martin Ives, Cambridge Business Publishers, ISBN:  978-1-61853-264.

Students are required to obtain access to myBusinessCourse (MBC).  This access is free with a new text.  New texts can be purchased from the publisher in two options: (1) eText:  6 month subscription $120 and (2) Loose Leaf Text:  $160.  Both the eText and a new Loose Leaf Text come with access to MBC. Students who purchase a used text must also acquire the access code for MBC at a cost of approximately $60.

Note:  Students who acquire the eText have access to the online textbook but no access to the hard copy text.  Students who acquire the loose-leaf text only have access to the hard copy text.  These students do not have access to the eText. Both the eText and a new Loose Leaf Text come with access to MBC. Students who purchase a used text must also acquire the access code for MBC at a cost of approximately $60.

The text can also be acquired from the  ACC Bookstore

Free preview of chapters 1 and 2

About the Text

Coverage:

  • Chapters 1 through 10 focus on applying state and local governmental accounting and financial reporting principles.
  • Chapters 13 and 14 focus more attention on nongovernmental entities. The focus of Chapter 13 is nonprofit organizations, and the focus of Chapter 14 is nonprofit and governmental health care organizations.
  • Students who need a refresher of the material covered in principles of accounting can use Chapter 15, which provides a practice-oriented approach to learning basic accounting concepts.

Features:

  • Real-world situations which illustrate the application of theory
  • User-friendly discussion of modified accrual accounting
  • Inclusion of new accounting standards
  • Coverage of state and local governmental entities, nonprofit entities, including nonprofit hospitals
  • Analysis of actual financial statements
  • Continuing problems
  • Reviews for each learning objective

 

ACC Policies and Student resources

ACC POLICIES

Statement on Academic Integrity

Austin Community College values academic integrity in the educational process.  Acts of academic dishonesty/misconduct undermine the learning process, present a disadvantage to students who earn credit honestly, and subvert the academic mission of the institution. The potential consequences of fraudulent credentials raise additional concerns for individuals and communities beyond campus who rely on institutions of higher learning to certify students' academic achievements, and expect to benefit from the claimed knowledge and skills of their graduates. Students must follow all instructions given by faculty or designated college representatives when taking examinations, placement assessments, tests, quizzes, and evaluations.  Actions constituting scholastic dishonesty include, but are not limited to, plagiarism, cheating, fabrication, collusion, falsifying documents, or the inappropriate use of the college’s information technology resources.  Further information is available at https://www.austincc.edu/about-acc/academic-integrity-and-disciplinary-process

Student Rights & Responsibilities

Academic freedom is a foundation and hallmark of higher education.  In the context of college-level courses, it specifically refers to the rights of free expression and respect for others with differing opinions.  Students at the college have the rights accorded by the U.S. Constitution to freedom of speech, peaceful assembly, petition, and association. This concept is accompanied by an equally demanding concept of responsibility on the part of the student.  Just as you are expected to exercise these rights with respect for state and federal law in the larger world, you are expected to exercise these rights as a student with respect for the college’s standards of conduct.  These rights carry with them the responsibility to accord the same rights to others in the college community and not to interfere with or disrupt the educational process.  Students and faculty alike should enable a climate of mutual respect and civility while fostering the freedom to debate and discuss the merits of competing ideas.

Enrollment in the college indicates acceptance of the rules set forth in the student standards of conduct policy, which is administered through the office of the campus dean of student services. Due process, through an investigation and appeal process, is assured to any student involved in disciplinary action.

Student Complaints

A defined process applies to complaints about an instructor or other college employee. You are encouraged to discuss concerns and complaints with college personnel and should expect a timely and appropriate response. When possible, students should first address their concerns through informal conferences with those immediately involved; formal due process is available when informal resolution cannot be achieved.

Student complaints may include (but are not limited to) issues regarding classroom instruction, college services and offices on the basis of actual or perceived race, color, national origin, religion, age, gender, gender identity, sexual orientation, political affiliation, or disability.

Further information about the complaints process, including the form used to submit complaints, is available at: http://www.austincc.edu/students/students-rights-and-responsibilities/student-complaint-procedures

Statement on Privacy

The Family Educational Rights and Privacy Act (FERPA) protects confidentiality of students’ educational records. Grades cannot be provided by faculty over the phone, by e-mail, or to a fellow student.

Safety Statement

Health and safety are of paramount importance in classrooms, laboratories, and field activities. Students are expected to learn and comply with ACC environmental, health and safety procedures and agree to follow ACC safety policies.  Emergency Procedures posters and Campus Safety Plans are posted in each classroom and should be reviewed at the beginning of each semester.  All incidents (injuries/illness/fire/property damage/near miss) should be immediately reported to the course instructor. Additional information about safety procedures and how to sign up to be notified in case of an emergency can be found at http://www.austincc.edu/emergency

Everyone is expected to conduct themselves professionally with respect and courtesy to all. Anyone who thoughtlessly or intentionally jeopardizes the health or safety of another individual may be immediately dismissed from the day’s activity and will be referred to the Dean of Student Services for disciplinary action.

In the event of disruption of normal classroom activities due to an emergency situation or an illness outbreak, the format for this course may be modified to enable completion of the course. In that event, students will be provided an addendum to the class syllabus that will supersede the original version.

Campus Carry

The Austin Community College District concealed handgun policy ensures compliance with Section 411.2031 of the Texas Government Code (also known as the Campus Carry Law), while maintaining ACC’s commitment to provide a safe environment for its students, faculty, staff, and visitors.  Beginning August 1, 2017, individuals who are licensed to carry (LTC) may do so on campus premises except in locations and at activities prohibited by state or federal law, or the college’s concealed handgun policy.  In addition, concealed weapons are not allowed on ACC-sponsored field trips where the school owns or has chartered or leased vehicles for transportation.

   It is the responsibility of license holders to conceal their handguns at all times.  Persons who see a handgun on campus are asked to contact the ACC Police Department by dialing 222 from a campus phone or 512-223-7999.   Please refer to the concealed handgun policy online at http://austincc.edu/campuscarry

Discrimination Prohibited

The College seeks to maintain an educational environment free from any form of discrimination or harassment including but not limited to discrimination or harassment on the basis of race, color, national origin, religion, age, sex, gender, sexual orientation, gender identity, or disability.

Faculty at the College are required to report concerns regarding sexual misconduct (including all forms of sexual harassment and sex and gender-based discrimination) to the Manager of Title IX/Title VI/ADA Compliance.  Licensed clinical counselors are available across the District and serve as confidential resources for students.

Additional information about Title VI, Title IX, and ADA compliance can be found in the ACC Compliance Resource Guide available at: https://drive.google.com/file/d/1o55xINAWNvTYgI-fs-JbDyuaMFDNvAjz/view

Use of ACC email

All College e-mail communication to students will be sent solely to the student’s ACCmail account, with the expectation that such communications will be read in a timely fashion. ACC will send important information and will notify students of any college- related emergencies using this account. Students should only expect to receive email communication from their instructor using this account.  Likewise, students should use their ACCmail account when communicating with instructors and staff.  Information about ACC email accounts, including instructions for accessing it, are available at:  http://www.austincc.edu/help/accmail/questions-and-answers

Use of the Testing Center

Under certain circumstances, examinations may have to be taken in a testing center. The ACC Testing Centers follow standard procedures so students know what to expect when they arrive to take their tests. Students should familiarize themselves with the student guidelines.

Students must present an ACC student ID card or government issued ID and know their ACC ID number before they can test.

It is necessary to check in at the Testing Center kiosk before taking a test. To check in, one must know the following information:

  • Student ID number
  • Course prefix and number
  • Course synonym
  • Course section number
  • Test number
  • Instructor’s name

Personal belongings such as backpacks, books, and electronic devices (including, but not limited to, cell phones and smart watches) are not allowed in the Testing Center. Possession of prohibited items or accessing unapproved resources in the testing room will result in the immediate termination of the exam and possible disciplinary action.

For additional information on using the Testing Center, please go to: http://www.austincc.edu/students/testing-services/instructional-testing

STUDENT SUPPORT SERVICES

The success of our students is paramount, and ACC offers a variety of support services to help, as well as providing numerous opportunities for community engagement and personal growth.

Student Support

ACC strives to provide exemplary support to its students and offers a broad variety of opportunities and services.  Information on these campus services and resources is available at  http://www.austincc.edu/students.

Student Accessibility Services

Students with documented disabilities who need classroom, academic, or other accommodations must request them through the office Student Accessibility Services (SAS).   SAS offices are located at each major campus.  Students are encouraged to request accommodations when they register for courses or at least three weeks before the start of the semester; otherwise, the provision of accommodations may be delayed.  Students who have received approval for accommodations from SAS for this course must provide the instructor with the document titled “Notice of Approved Accommodations” from SAS before accommodations will be provided.  Accommodations will not be provided retroactively.  Arrangements by the instructor for academic accommodations can only be made after he or she receives the “Notice of Approved Accommodations” from the student.

Additional information about Student Accessibility Services is available at https://www.austincc.edu/offices/student-accessibility-services-and-assistive-technology

Academic Support

ACC offers academic support services on all of its campuses. These services, which include face-to-face and online tutoring, academic coaching, and supplemental instruction, are free to enrolled ACC students. Tutors are available in a variety of subjects ranging from accounting to pharmacology. Students may receive these services on both a drop-in and referral basis. Tutoring schedules can be found at:  https://www.austincc.edu/students/tutoring/tutoring-schedules

Library Services

ACC has a full-service library at each of its campuses to support ACC courses and programs and to provide students with research and assignment assistance from expert faculty librarians, computers, course reserves, laptop and tablet check out, study spaces, and copying, printing, and scanning services.  In addition, ACC students have full rights and privileges to access Library Services online 24/7 via the ACC Library website and students can use their ACCeID logins to access all online materials, including ebooks, articles from library databases, and streaming videos.   ACC Libraries also provide an “Ask a Librarian” service, which allows  students to reach a librarian 24/7 through online chat.  Faculty librarians are also available via email, phone, and in person seven days a week during hours of operation. Visit:

In partnership with ACC’s Student Support Center, ACC Libraries also maintain a limited collection of textbooks for students to borrow. Priority access to the textbook collection is given to students receiving assistance. More information is available on the ACC website by searching “Student Support Center Textbook Collection.”

Student Organizations

ACC has over seventy student organizations, offering a variety of cultural, academic, vocational, and social opportunities.  They provide a chance to meet with other students who have the same interests, engage in service-learning, participate in intramural sports, gain valuable field experience related to career goals, and much else.  Student Life coordinates many of these activities, and additional information is available at http://sites.austincc.edu/sl/.

Personal Support

Resources to support students are available at every campus. To learn more, ask your professor or visit the campus Support Center. All resources and services are free and confidential. Some examples include, among others:

A full listing of services for student parents is available at: https://www.austincc.edu/students/child-care

Clinical Counseling services are available throughout the ACC Student Services District to address personal and or mental health concerns: http://www.austincc.edu/students/counseling .

If an emergency occurs during operational hours, please come to the Student Services Office and let the front intake staff know that you are experiencing a crisis. They will alert appropriate personnel. You may also contact the ACC District Police at 222 (on campus) or 223-7999 (off campus or cell phone).

After Hours:

If you are struggling with a mental health or personal crisis, call one of the following numbers to connect with resources for help. However if you are afraid that you might hurt yourself or someone else, call 911 immediately.

Free Crisis Hotline Numbers:

  • Austin / Travis County 24 hour Crisis & Suicide hotline: 512-472-HELP (4357)
  • The Williamson County 24 hour Crisis hotline: 1-800-841-1255
  • Bastrop County Family Crisis Center hotline: 1-888-311-7755
  • Hays County 24 Hour Crisis Hotline: 1-877-466-0660
  • National Suicide Prevention Lifeline: 1-800-273-TALK (8255)
  • Crisis Text Line: Text “home” to 741741
    • Substance Abuse and Mental Health Services Administration (SAMHSA) National Helpline:   1-800-662-HELP (4357)
  • National Alliance on Mental Illness (NAMI) Helpline:1-800-950-NAMI (6264)

Updated:  7/31/19

 

 

Course Requirements

COURSE POLICIES 


Incomplete:  An incomplete (I) will be granted to a student in rare circumstances. Generally, to receive a grade of I, a student must have completed all examinations and assignments to date, be passing, and have personal circumstances that prevent course completion that occur after the deadline to withdraw with a grade of W. 

Attendance:  On line class

Withdrawal:  The instructor may withdraw a student for lack of progress.  Lack of progress includes:  if the student has missed more than 2 assignments (MBC assignments, other assignments, labs, project, etc) and has not discussed the acceptable reason for missing with the instructor (forgetting a due date, being too busy, or having a goal of earning only enough points for a grade of D are not an acceptable reasons). The instructor has the right to withdraw a student who has missed more than 2 assignments without notifying the student.  Thus, it is critical that students complete the assignments and keep in touch with the instructor.   In addition if Exam 1 is not completed by the mandatory date (or extended date - see Due Dates for Exams Policy), the student will be withdrawn.  The last day to withdraw from this course is 11/21/19. A grade of W cannot be awarded after 11/21/19.

Students will be withdrawn from the course if they do not complete all components of the mandatory orientation by 11:45 PM on Saturday 8/31/19.

The purpose of this withdrawal policy is to ensure all students are working with all course resources/assignments each week.  On campus classes require weekly attendance, thus online courses must also have this expectation.  Students must stay current with the course learning objectives because each chapter builds on previous chapters.  Wtih 11 chapters, 1 project and 3 exams, there is no time to catch up with the materal.   Also, the Texas State Board of Public Accountancy accepts this course for the CPA exam requirements (for students who have already completed a minimum of a bachelors degree).  We have an obligation to the State Board to cover all of the course and learning objectives throughout the semester.

Last Updated: 7/31/19

See Blackboard for details on all grading components.

Early Grade Release:  Course grades cannot be released before the semester has officially ended.

Due Dates for Exams:   An extension may be granted in the case of an emergency.  If this happens:  (1) contact the instructor by phone or e-mail before the exam deadline and (2) submit verification of the emergency (for example, in case of personal illness, submit a statement from the doctor which shows the period of time you are unable to attend work or school; in case of death or serious illness of a close friend or family member, submit information about the nature and location of the emergency and when you will be able to take the exam; in case of work or military orders, submit a letter from the supervisor which states the dates and location of the assignment).  If the verification is submitted, one extension may be granted.  If the exam is not taken by the extended due date, the student will be withdrawn from the course.  Stay on schedule and complete all assignments a few days early.  This allows you to meet deadlines and keep from getting behind.

No notes, electronic devices, or texts can be used during Exams 1, 2, and 3.

Exams are taken at any  ACC testing centers. Students who live outside the Austin area and cannot travel to an ACC Testing Center must have their exams proctored at a college or university testing center  through the Distance Testing procedures.  The required form must be submitted online by the end of the second week of the semester.  All exams are administered in testing centers using Respondus (see Blackboard for details).  Use of the Internet is strictly limited to the Respondus delivery.

The ACC Accounting Department has a secure exam policy.  For this reason, exams cannot be released via Blackboard. Because this is an online course which includes students who live outside of the ACC service area, students are not allowed to review completed exams.  The professor will provide detailed feedback to students who request it.  The best approach to the exams is to invest sufficient time and know the exam material.

Review the student testing guidelines  prior to taking the first exam.

Exam Curve:  There is no curve for exams 1 and 2.  If a curve is needed for exam 3, the amount of the curve will be prorated based on the number of assignments completed by the total number of assignments.

Homework–  Late homework is not accepted for grading.  Homework assignments include:  myBusinessCourse (MBC) exercises/problems and Blackboard assignments .  Assignment instructions, grading rubrics, and technology guidance/help are provided in Blackboard.

MBC Assignments:  These graded assignments are worked via MBC (myBusinessCourse).  Immediate feedback is available. 

MBC Resource Assignments:  Students are required to use the MBC learning resources -- narrated author videos (one for each chapter learning objectives), narrated guided examples, and MBC practice assignments (immediate feedback).  MBC records the completion of these items.  The grade for these assignments is based on the percentage of completion.

Labs and Project -- Instructions and grading rubrics are provided in Blackboard.  These will be submitted via Blackboard.  No late papers will be accepted for grading.

For all grading components:

  • Submit all assignments before the posted due date.  Late papers are not accepted for grading.

  • Do not submit assignments via e-mail (unless the assignment specifically states to do this). Use doc, docx, rtf, xls, or xlsx (no power point or pdf).  Each Blackboard lesson provides the method of submitting assignments

  • Use complete sentences, proper grammar, and correct spelling.  It is not necessary to type the assignment instructions.

  • Always put your name on every paper.  There will be a 10% deduction for any paper that does not have your name on it.

  • Do your own work.  Be sure that you understand the consequences of plagiarism.  Do not copy from sources – paraphrase or summarize – and make proper citations.

  • Your work must reflect your understanding of the concepts covered.

  • Take pride in every assignment submitted.  Allow sufficient time to submit quality work.

Academic Honesty Policy --  A student attending ACC assumes responsibility for conduct compatible with the mission of the college as an educational institution. Students have the responsibility to submit coursework that is the result of their own thought, research, or self-expression. Students must use their own words and submit assignments that they have prepared. Actions constituting scholastic dishonesty include, but are not limited to, plagiarism, cheating, fabrication, collusion, and falsifying documents. Penalties for scholastic dishonesty will depend upon the nature of the violation and may range from a grade of zero on an assignment to an “F” in the course and/or expulsion from the college. If 2 papers are identical, each paper will receive a grade of zero. View additional information.

 

GRADING:

 

 

 

 

Component

 

Points

%

 

 

Orientation

 

40

5%

 

 

Exams

 

400

50%

 

 

Assignments*

 

200

25%

 

 

Project

 

60

7.5%

 

 

Labs 

 

100

12.5%

 

 

Total

 

800

100%

 

 

Final Grade Determination

 

 

 

A

720 - 800 pts

 

 

 

 

B

640 - 719 pts

 

 

 

 

C

560 - 639 pts

 

 

 

 

D

480 - 559 pts

 

 

 

 

F

below 480

 

 

Assignments include:  myBusinessCourse (MBC) exercises/problems, Blackboard assignments

 

Course Subjects

 
ACNT 2330 - Governmental and Not-for-Profit Accounting
Fall 2019 Schedule  Revised 7/8/19
     
Module A
     
Topic Assignments Due Date
Orientation DB Postings (10 pts) Sat. 8/31
  Prerequisite Assignment (10 pts) 11:45 PM
  Assignment (20 pts)  
Chapter 1  Blackboard Assignment (10 pts)  Sat 9/7
  Lab 1 (10 pts) 11:45 PM
Chapter 13 MBC (5 pts) Sat. 9/14
  Blackboard Assignment (5 pts) 11:45 PM
  Lab 2 (10 pts)  
Chapter 14 MBC (5 pts) Sat. 9/21
  Blackboard Assignment (5 pts) 11:45 PM
  Lab 3 (20 pts)  
Exam 1: Ch 1,13,14 (100 pts) Complete exam by close of testing center. Sat. 9/28
   
Module B
     
Topic Assignments Due Date
Chapter 2 MBC  (10 pts) Sat. 10/5
  MBC Resource Assignment (5 pts) 11:45 PM
  Lab 4 (20 pts)  
Chapter 3 MBC (10 pts) Sat. 10/12
  MBC Resource Assignment (5 pts)  
  Blackboard Assignment (15 pts) 11:45 PM
Chapter 4 MBC (10 pts)  
  MBC Resource Assignment (5 pts) Sat. 10/19
  Lab 5 (20 pts) 11:45 PM
Chapter 5 MBC (10 pts) Sat. 10/26
  MBC Resource Assignment (5 pts)  
  Blackboard Assignment  (20 pts) 11:45 PM
Exam 2:  (125 pts) Ch 2-5 Complete exam by close of testing center. Sat. 11/2
     
  Module C  
Topic Assignments Due Date
     
Chapter 6 MBC (10 pts) Wed. 11/6
  MBC Resource Assignment (5 pts) 11:45 PM
Chapter 7 MBC (10 pts) Wed. 11/13
  MBC Resource Assignment (5 pts)  
  Blackboard Assignment (15 pts) 11:45 PM
Chapter 9 MBC (10 pts) Wed. 11/20
  MBC Resource Assignment (5 pts) 11:45 PM
Last day to withdraw   Thurs. 11/21
Chapter 10 MBC (10 pts) Wed. 11/27
  MBC Resource Assignment (5 pts)  
  Lab 6 (20 pts) 11:45 PM
Project (60 pts) Chapters 1, 2, 9, 13, 14 Sat. 12/7
    11:45 PM
Exam 3:  (175 pts) Ch 6,7,9,10 and course outcomes assessment Complete exam by close of testing center. Sat. 12/14
     
Notes:    
This schedule is subject to change.  Last Update:  7/8/19  
All assignments are due no later than 11:45 PM on the stated due date.
Exams must be completed by the close of business of the testing facility.
10% deduction for each paper submitted without a name.
     
Grading Component Points (%)  
Orientation 40 (5%)  
Exams 400 (50%)  
Assignments 200 (25%)  
Project 60 (7.5%)  
Labs  100 (12.5%)  
Total 800 (100%)  
     
Final Grade    
720 - 800 Points A  
640 - 719 B  
560 - 639 C  
480 - 559 D  
Below 480 F  

 

Student Learning Outcomes/Learning Objectives

COURSE KNOWLEDGE and SKILLS

Knowledge:  Explain generally accepted accounting principles as they apply to economic transactions of governmental and not-for-profit entities. 

Skills:  Identify accounting standards and procedures for governmental and non-profit entities. Apply generally accepted accounting principles in the preparation of reports for public institutions

The knowledge and skills will be covered and assessed in the course outcomes and module objectives.

Course Outcomes:  Upon completion of this course, students should be able to:

State and Local Governmental Entities:

CO 1: Identify and apply the sources of generally accepted accounting principles for state and local governmental entities.

CO 2:  Explain the objectives of financial reporting for state and local governmental entities

CO 3:  Explain the balanced budget requirement, apply budgetary accounting, and evaluate budgetary reporting for state and local governmental entities

CO 4:  Apply governmental accounting and reporting terminology

CO 5:  Analyze and record transactions of state and local governmental entities

CO 6:  Apply the financial reporting requirements for fund and government-wide financial statements for state and local governmental entities.

Nonprofit Organizations:

CO 7:  Identify and apply the sources of generally accepted accounting principles for nonprofit organizations

CO 8:  Explain the objectives of financial reporting for nonprofit organizations

CO 9:  Apply nonprofit accounting and reporting terminology

CO 10:  Analyze and record transactions of nonprofit organizations

CO 11:  Apply the financial reporting requirements for nonprofit organizations

LESSON OBJECTIVES:

Module A Objectives

Lesson 2 (Chapter 1):  By the end of this lesson, you will be able to:

1.1 List and describe the differences between governmental, nonprofit, and commercial entities.

1.2

  1. List the objectives and distinctive characteristics of financial reporting for state and local governmental and nonprofit entities.
  2. Evaluate the objectives and distinctive characteristics of financial reporting for state and local governmental and nonprofit entities.

1.3

  1. Identify the sources of generally accepted accounting principles for state and local governmental and nonprofit entities.
  2. Describe the due process used by the FASB and GASB.
  3. Discuss the hierarchy of GAAP for state and local governments and nonprofit entities,

Lesson 3 (Chapter 13):  By the end of this lesson, you will be able to:

13.1

  1. List the four categories of nonprofit organizations.
  2. Distinguish between the characteristics of state and local governmental entities and nonprofit organizations.
  3. Identify the source of GAAP that applies to nonprofit organizations.

13.2

  1. State the objectives of nonprofit financial reporting.
  2. State the headings and components of each of the required financial statements.
  3. Prepare the statement of financial position and the statement of activities.
  4. Discuss the importance of net asset classifications.

13.3 Prepare journal entries to record transactions for contributions other than services and collections.

13.4 Prepare journal entries to record transactions for contributed services contributions and for collections contributions.

13.5

For investments received from donor contributions:

  1. Prepare journal entries at date of receipt, at the end of the fiscal year, and at the time of disposal.
  2. State the related financial statement disclosures.

13.6

  1. Prepare journal entries to record exchange transaction revenue, depreciation, and fundraising expenses.
  2. Evaluate the FASB’s requirement to provide additional liquidity information.

Lesson 4 (Chapter 14): By the end of this lesson, you will be able to:

14.1

  1. List the types of health care providers and their source of GAAP.
  2. Demonstrate how governmental and nonprofit hospitals handle restricted resources.

14.2

  1. Apply GAAP requirements to transactions involving hospital revenue recognition, including the effects of third-party payers, contractual adjustments, and charity care.
  2. Prepare journal entries for these transactions.

14.3 Prepare journal entries to record contributed services, unrestricted contributions, donor restricted contributions, sales of goods and services, and investment income.

14.4 Prepare journal entries and disclosure statements to record operating expenses, medical malpractice claims, and judgments.

14.5 Prepare the balance sheet and statement of operations for nongovernmental nonprofit hospitals.

Module B Objectives

Lesson 6 (Chapter 2):  By the end of this lesson, you will be able to:

2.1

  1. Discuss the definition of a fund and the purpose of fund accounting.
  2. Explain why state and local governments use fund accounting.
  3. Describe the measurement focus and basis of accounting for each of the three fund categories.
  4.  List the financial statements issued by state and local governmental entities.

2.2 

  1. Apply full-accrual and modified accrual accounting.
  2. Apply the economic resources and the current financial resources measurement focus.
  3. List and discuss the purpose of each of the five governmental funds.
  4. Identify activities of each of the five governmental funds.
  5. Use the governmental fund accounting equation to analyze transactions of each of the five governmental funds.

2.3 For internal service and enterprise funds: 

  1. Discuss the purpose of each.
  2. Identify activities of each.
  3. List the required financial statements.
  4. Describe the measurement focus and basis of accounting.

2.4 For fiduciary funds:

  1. List and discuss the purpose of each fund type.
  2. State the required financial statements.
  3. Describe the measurement focus and basis of accounting

Lesson 7 (Chapter 3):  By the end of this lesson, you will be able to:

3.1

  1. Evaluate the purpose of the balanced budget law.
  2. List and discuss the budgetary types and approaches.
  3. List the steps involved in the process of enacting a budget.

3.2 Calculate the property tax millage rate.

3.3 Describe the execution phase of the budget process.

3.4 Classify revenues and expenditures.

3.5 Prepare journal entries to record the adopted budget and subsequent revisions.

3.6 Prepare journal entries to record encumbrance and related expenditures.

3.7 Post transactions to revenues and appropriations subsidiary ledgers.

Lesson 8 (Chapter 4):  By the end of this lesson, you will be able to:

4.1

For general and special revenues funds:

  1. Describe the purpose and organization of each fund.
  2. Discuss the accounting measurements that apply.
  3. Describe the revenue and expenditure recognition requirements.

4.2 Prepare journal entries to record short-term financing and investing transactions for the general and special revenue funds.

4.3 Prepare journal entries to record basic budgetary and financial accounting transactions for the general and special revenue funds.

4.4 Prepare financial and budgetary comparison statements for the general and special revenue funds.

4.5 Prepare year-end budgetary and financial accounting closing entries for the general and special revenue funds.

Lesson 9 (Chapter 5):  By the end of this lesson, you will be able to:

5.1 Discuss how the general principles of the current financial resources measurement focus/modified accrual accounting basis of accounting are necessary for recording transactions of government-type funds.

5.2 Prepare journal entries to record transactions involving property tax revenues and receivables transactions.

5.3 Prepare journal entries to record transactions involving revenues and receivables from sales taxes, personal income taxes, intergovernmental grants, and other revenue sources.

5.4 Prepare journal entries to record transactions involving expenditures and liabilities using the current financial resources measurement focus/modified accrual accounting basis of accounting.

5.5

  1. List, define, and apply the types of interfund transactions.
  2. Explain the effects of interfund transactions on the financial statements.
  3. Prepare journal entries to record interfund transactions.

5.6 Prepare journal entries to record the acquisition and disposition of capital assets and supplies.

5.7 Describe the content and structure of general fund and special revenue fund financial statements.

5.8

  1. List and define the factors affecting the five classifications of fund balance.
  2. Prepare the Fund Balance section of the governmental funds balance sheet.
  3. Prepare journal entries to classify and to close year end encumbrances.

Module C Objectives

Lesson 11 (Chapter 6):  By the end of this lesson, you will be able to:

6.1 Prepare journal entries to record common transactions in capital projects funds.

6.3 Compare the common types of debt for governments.

6.4 Prepare journal entries to record common transactions in debt service funds.

Omit 6.2, 6.5 Omit, 6.6

Lesson 12 (Chapter 7):  By the end of this lesson, you will be able to:

7.1

  1. Contrast the similarities and differences between internal service funds and enterprise funds.
  2. List and discuss the contents of proprietary funds financial statements.
  3. Analyze scenarios and determine which fund should be used (general, internal service, or enterprise).

7.2

  1. Explain how state and local government entities use internal service funds.
  2. Discuss how budgeting procedures and cost allocation affect the operation of internal service funds.
  3. Prepare journal entries to record transactions of the internal service funds.

7.3

  1. Prepare journal entries to record common transactions reporting in enterprise funds.
  2. Prepare enterprise funds financial statements.

Lesson 13 (Chapter 9):  By the end of this lesson, you will be able to:

9.1

  1. List the objectives of governmental financial reporting.
  2. Discuss the purpose of and the need for GASB Statement No. 34.
  3. List the components of a CAFR.

9.2 Apply financial reporting entity standards to identify and report component units.

9.3 Analyze the content of Management’s Discussion and Analysis (MD&A).

9.4 Discuss reporting issues related to preparing financial statements for governmental and proprietary financial type funds.

9.5 Describe the purpose of the notes to the financial statements.

9.6 Describe the content and purpose of required supplementary information, other than the MD&A.

9.7 Describe the content of the statistical section of the CAFR.

9.8 List the types of reports and discuss the content of the reports that auditors must prepare as part of a single audit.

Lesson 14 (Chapter 10):  By the end of this lesson, you will be able to:

10.1 Analyze the major differences in accounting measurements and format between the government-wide and the fund financial statements.

10.2 Describe how interfund and internal service fund balances and activity are reported in the government-wide financial statements.

10.3 Convert fund financial statements to government-wide statements as applicable to capital assets and debt adjustments.

10.4 Convert fund financial statements to government-wide statements as applicable to revenue adjustments.

10.5 Convert fund financial statements to government-wide statements as applicable to expense adjustments.

10.6

  1. List the components of the government-wide financial statements
  2. Reconcile government-wide financial statements with the fund financial statements.

10.7 Apply the accounting standards for special treatment of certain infrastructure assets.

Lesson 15 (Project):  Upon completion of this lesson, you will be able to:

1.2a List the objectives and distinctive characteristics of financial reporting for state and local governmental and nonprofit entities.

1.2 b Evaluate the objectives and distinctive characteristics of financial reporting for state and local governmental and nonprofit entities.

2.4 a For Fiduciary Funds – List and discuss the purpose of each fund type

2.4 b For Fiduciary Funds – State the required financial statements

9.1 List the components of a CAFR

9.3 Analyze the content of Management’s Discussion and Analysis (MD&A).

9.4 Discuss reporting issues related to preparing financial statements for governmental and proprietary financial type funds.

9.5 Describe the purpose of the notes to the financial statements.

9.6 Describe the content and purpose of required supplementary information, other than the MD&A.

9.7 Describe the content of the statistical section of the CAFR.

9.8  List the types of reports and discuss the content of the reports that auditors must prepare as part of a single audit

10.6b Reconcile government-wide financial statements with the fund financial statements

13.1b Distinguish between the characteristics of state and local governmental entities and nonprofit organizations

13.2c Prepare the statement of financial position and the statement of activities.

14.5 Prepare the balance sheet and statement of operation for nongovernmental nonprofit hospitals.

CO 1:   Identify and apply the sources of generally accepted accounting principles for state and local governmental entities.
CO 2:   Explain the objectives of financial reporting for state and local governmental entities
CO 3:   Explain the balanced budget requirement, apply budgetary accounting, and evaluate budgetary reporting for state and local governmental entities
CO 4:  Apply governmental accounting and reporting terminology
CO 6:  Apply the financial reporting requirements for fund and government-wide financial statements for state and local governmental entities.
CO 7:   Identify and apply the sources of generally accepted accounting principles for nonprofit organizations
CO 8:    Explain the objectives of financial reporting for nonprofit organizations
CO 9:    Apply nonprofit accounting and reporting

Last Updated:  1/8/19

Information for potential texas Cpas

"To become a CPA in Texas, the Board has a statutory obligation (Section 901.253) to determine that any person awarded a Texas CPA certificate is of good moral character.

Good moral character is demonstrated by the lack of a history of dishonest or felonious acts. The Board considers several areas in evaluating an applicant's moral character. These include

  • Responses to questions on the application relating to arrests, charges, convictions, probations and/or deferred adjudications of a felony or misdemeanor other than misdemeanor driving offenses such as moving violations (NOTE: DWIs are not considered misdemeanor driving offenses).
  • The Board will access the Federal Bureau of Investigation (FBI) database and the Texas Department of Public Safety – Crime Records Division files using an established fingerprint process for each person who submits an Application of Intent. The fingerprint process allows the Board to receive information on all arrests, charges, convictions, probations and deferred adjudications of misdemeanor and felony offenses that occur in any U.S. state or territory. Records of these activities are reported to the Board for further investigation. If an applicant was 17 years of age or older at the time of the arrest, it should be reported to the Board. You are not required to report criminal records that have been expunged or sealed by an order of the court. You are required to report criminal records subject to a non-disclosure order.  Any subsequent arrest will automatically be reported to the Board for further investigation."