e SyllabusPrerequisites

ACC 206

 

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Course Description

Examines the differences in accounting between not-for-profit and for-profit organizations. Accounting for funds including general funds, special revenue funds, capital projects funds, debts service funds, special assessment funds, internal service funds, enterprise funds, fiduciary funds, the general fixed asset group of accounts, and the general long-term debt group of accounts.

 

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Course Design

This course has been designed for the individual student. That does not mean that students cannot collaborate and work on assignments as teams or groups. Indeed, collaborative efforts should raise the level of learning synergy as one student’s instructional efforts reinforce that individuals learning experience. However, the final measure of learning will be conducted on an individual basis and by the performance of that individual in addressing classroom activity, course assignments, and a final course reflective paper. The Reflective Paper should demonstrate understanding of the readings as well as the implications of new knowledge.

The learning experience will consist of the following efforts: reading of the text and articles that may be assigned, discussion of text material and article content, assigned homework problems for each chapter being studied, a weekly case or problem, quizzes, and a course Reflective Paper. The Reflective Paper should demonstrate understanding of the readings as well as the implications of new knowledge.

Reading the text will be the primary source of formal knowledge for each student. A student will be expected to read each chapter as sequenced through the course. In doing so that student will be measured on how well the subject matter is understood, how adept that student is at recognizing situations in which the subject matter is at hand, translating the recognition into a useful application of the knowledge, and use the knowledge application to solve a problem or find a solution. The student will also be expected to defend the chosen approach towards problem solving by referencing text and classroom materials and to defend the rejection of alternatives that may have warranted consideration.

Homework assignments will be the routine measuring of a student’s ability to apply specific learned knowledge to a formal and structured situation with the end result being an answer that is measurable in a quantitative manner. Each assignment will have the objective of testing the student on the composite knowledge presented in the respective chapter. It is expected that this routine will install a sense of process discipline in each student that will guide the problem solving process.

Accounting for Not-For-Profit Organizations is a strict discipline of numbers that must conform to a predefined code established by The GASB, AICPA, FASB, GAO, and other government and private boards and agencies. Accounting is governed by Generally Accepted Accounting Principles (GAAP). It has been reasoned that the best method for measuring understanding is with problem solving. Hence, students will be encouraged to do self-testing problems from each chapter to ensure their learning of the course material.

Study and review the multiple choice questions provided on the text’s Web site (www.mhhe.com/copley9e) to test your comprehension of each chapter.

 

 

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Course Learning Outcomes

Upon successful completion of this course, students will be able to:

1. Define fund accounting terms and concepts.
2. Describe the budgetary process in government.
3. Distinguish between governmental, not-for-profit, and profit-based organization.
4. Apply the unique modified accrual basis of accounting used by governments in managing accounts.
5. Analyze and make accounting entries for transaction in the general, capital projects, debt service, as well as trust and agency funds.
6. Assess the generally accepted accounting principles relating to not-for-profit entities including colleges and universities, hospitals and other nonprofit health and welfare organizations.

 

 

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Course Map

The course map illustrates the careful design of the course through which each learning objective is supported by one or more specific learning activities in order to create integrity and pedagogical depth in the learning experience.

 

LEARNING OUTCOME	WEEK	ASSIGNMENT
Define fund accounting terms and concepts.	2 2 3	Modified Accrual Accounting and General Fund Items Trust Activities and Fund Issues Internal Service and Enterprise Funds
Describe the budgetary process in government.	1 1 4 4	Government-Wide Statements & Budgetary Comparison Schedule GASB, CAFR Issues and Budgetary Comparison Schedule Infrastructure and GASB Statement 34 Government-Wide Statements, Net Assets, & Journals
Distinguish between governmental, not-for-profit, and profit-based organization.	4 5 5	Infrastructure and GASB Statement 34 FASB Statement 117, Trusts, & Organizations Cash Flows
Apply the unique modified accrual basis of accounting used by governments in managing accounts.	1 1	Accounting and Financial Reporting GASB, CAFR Issues and Budgetary Comparison Schedule
Analyze and make accounting entries for transaction in the general, capital projects, debt service, as well as trust and agency funds.	2 2 3 3 5 5	Modified Accrual Accounting and General Fund Items Trust Activities and Fund Issues Investment and Pension Trust Funds Net Assets and Employees’ Retirement Fund FASB Statement 117, Trusts, & Organizations Final Project
Assess the generally accepted accounting principles relating to not-for-profit entities including colleges and universities, hospitals and other nonprofit health and welfare organizations.	4 5 5 5	Transactions and FASB Standards FASB Statement 117, Trusts, & Organizations Standard Prices for Medicine Final Project

 

 

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Institutional Outcomes

 

Graduates of Ashford University:

1. Demonstrate the ability to read and think critically and creatively;
2. Demonstrate the ability to communicate effectively in speech and in writing;
3. Demonstrate the ability to communicate effectively through the use of technology;
4. Demonstrate an understanding of the various forms of diversity;
5. Demonstrate an understanding of the interdependence among living beings, the environment and humanly-created systems;
6. Demonstrate competence in their major fields of study;
7. Demonstrate an understanding of service directed at meeting the needs of others;
8. Demonstrate the ability to draw information from different fields of study to make informed decisions; and
9. Develop skills and abilities that provide for lifelong learning.

 

 

 

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Mission Statement

The mission of Ashford University is to provide accessible, affordable, innovative, high-quality learning opportunities and degree programs that meet the diverse needs of individuals pursuing integrity in their lives, professions, and communities.

 

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