THE UNIVERSITY OF NORTH CAROLINA AT GREENSBORO C

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THE UNIVERSITY OF NORTH CAROLINA AT GREENSBORO
Bryan School of Business and Economics
COURSE NUMBER:
COURSE TITLE:
SEMESTER and YEAR:
TIME AND LOCATION:
LEVEL:
CREDITS:
INSTRUCTOR:
OFFICE HOURS:
COURSE WEBSITE:
SYLLABUS VERSION:
ACCT 561
Governmental and Nonprofit Accounting
Fall 2014
T / R 12:30PM - 1:45PM in Bryan 105
Undergraduate
Three credit hours
Jenna Meints, PhD
Bryan 383; 336-334-5647
[email protected]
T / R 11:00AM-12:00PM and by appointment
is available through Blackboard
Last updated July 14, 2014
COURSE DESCRIPTION:
Introduce students to accounting and financial reporting for nonprofit organizations and governmental
entities.
COURSE PREREQUISITE:
ACC 319, Intermediate Accounting II, or equivalent, with a grade of C or better
STUDENT LEARNING OBJECTIVES (SLOS):
1. Compare and contrast the unique financial reporting environments facing nonprofit organizations and
governmental entities versus those facing for profit entities.
2. Account for governmental revenues and expenditures.
3. Account for nonprofit revenues and expenditures.
4. Utilize fund accounting.
5. Account for the operations of nonprofit and governmental entities with up-to-date technical
accounting guidance from the FASB, the AICPA, the GASB, the OMB, the GAO, and other relevant
regulatory bodies.
6. Analyze and evaluate the key financial statements of nonprofit and governmental organizations.
7. Analyze and evaluate the budgeting process within nonprofit and governmental organizations.
EXPANDED DESCRIPTION: This course will introduce students to the accounting and financial reporting
environments for nonprofit organizations and for governmental entities. Course topics include fund
accounting, the budgeting process, technical accounting guidance for nonprofit organizations, technical
accounting guidance for governmental organizations, and techniques for evaluating and assessing the
financial strength of not-for-profit institutions and governmental entities. Students will become familiar with
CAFRs for governmental entities and with financial statements for nonprofit organizations. The course will
help students learn how to apply financial management tools ranging from broad budgeting processes and
fund accounting principles to regulatory bodies’ financial reporting technical guidance for nonprofit and
governmental organizations.
REQUIRED TEXT:
Government and Not-for-Profit Accounting: Concepts and Practices, Sixth Edition.
Michael H. Granof and Saleha B. Khumawala. Publication Date: January 22, 2013. ISBN-10: 1118155971.
ISBN-13: 978-1118155974.
ACC 561, Fall 2014, Undergraduate Syllabus, page 1
CAFR and financial statement examples, class cases, and other relevant materials not in the required text will
be made available via Blackboard as .pdfs or web links.
TEACHING METHODS:
Class time will be a mix of informative lectures, interactive presentations, discussion of assigned readings,
practical skills-building exercises that relate to graded assignments, and occasional short videos.
CLASS ASSIGNMENTS:
UNDERGRADUATE students will be evaluated based on the following:
Assignment
Class Attendance and Participation
Homework
Quiz 1
CAFR Analysis
NPO Financial Statements Analysis
Quiz 2
NPO Financial Health Assessment
Points Date Due
10
Ongoing, including intro and
exam review questions
30
As assigned
15
Class 12
10
Class 18
10
Class 25
15
Class 28
10
December 1
CLASS ATTENDANCE AND PARTICIPATION (10 PTS)
The full number of points will be awarded when students miss no more than two classes (and complete makeup work for the classes that they missed, if necessary) and make active and thoughtful contributions to several
class discussions and other learning activities. These contributions should demonstrate that the student is
critically engaged with course content, class material, and/or the current environment facing nonprofit
organizations and governmental entities. Fewer points will be awarded when absences and contributions do
not meet these criteria, at the discretion of the instructor. In extenuating circumstances (medical or family
emergency), absences will be considered excused. Being on time for class is important and is a sign of respect
for the learning environment. Being late and/or leaving early may result in the loss of class participation
points.
The class participation requirement includes one class session in which each student will present responses to
questions to help introduce one or more topics.
HOMEWORK (30 PTS) – ALL SEVEN SLOS.
There will be several problems and exercises assigned for each chapter (17 assignments). The exact problems
and exercises will be announced one or two class days before the respective assignment is due. In general,
homework is due in class on the second day of each chapter’s coverage. For chapters that are covered in one
day, the homework assignment is due at the beginning of class time in the class following the actual chapter
coverage. Specific Due Dates are listed in the day by day schedule at the end of this syllabus.
Homework will be graded for accuracy. Students may drop their two lowest homework scores. Students must
work independently. Cheating will result in an F for the course and an Honor Code violation. Homework is
due by the beginning of the class period in which it is due. Homework will not be accepted via e-mail or
outside of the classroom. No late assignments accepted.
GOVERNMENTAL CAFR ANALYSIS (10 PTS) – ALL SEVEN SLOS.
DUE BY BEGINNING OF CLASS TIME FOR CLASS 18
Students will analyze aspects of the Comprehensive Annual Financial Report (CAFR) for a governmental
entity.
Detailed instructions and a grading rubric for all assignments can be found on the course Blackboard site.
ACC 561, Fall 2014, Undergraduate Syllabus, page 2
NPO FINANCIAL STATEMENTS ANALYSIS (10 PTS) – ALL SEVEN SLOS.
DUE BY BEGINNING OF CLASS TIME FOR CLASS 25
Students will analyze aspects of the financial statements of a nonprofit organization. These statements will be
similar to what nonprofit organizations would have audited by a CPA and would have included in addition to
an NPO’s IRS Form 990 Annual Filing in some states.
Detailed instructions and a grading rubric for all assignments can be found
on the course Blackboard site.
QUIZ 1 AND QUIZ 2 (15 PTS EACH) – ALL SEVEN SLOS.
CLASS 12 AND CLASS 28
Students will complete a quiz during class time that includes multiple choice questions covering concepts,
principles, and techniques that were covered in readings, discussions, class sessions, presentations, and any
other relevant materials distributed and/or available to the class.
FINANCIAL HEALTH ASSESSMENT (10 PTS) – ALL SEVEN SLOS.
DUE BY 9AM ON DECEMBER 1
Students will receive an assigned case for one nonprofit organization. Students will work independently with
the assigned case. Students will assess the financial health of the entity and describe a set of recommendations
for improved financial health in the future.
Detailed instructions and a grading rubric for all assignments can be found
on the course Blackboard site.
UNDERGRADUATE GRADING SYSTEM:
100-98%
A+
97-93%
A
92-90%
A89-88%
B+
87-83%
B
82-80%
B79-78%
C+
77-73%
C
72-70%
C69-68%
D+
67-65%
D
Below 65%
F
EXTRA CREDIT:
Extra Credit Possibility #1: Identify a governmental entity that interests you. Find that entity’s CAFR. Highlight
aspects of the government’s CAFR that have or have not been covered in class. Present to the class (in approximately 3
minutes) the background of the organization, why you chose it, and at least three accounting/financial reporting aspects
that stood out to you and/or that related to class material in the entity’s CAFR. You must show the class images of the
CAFR when you explain. Be open to questions from and interaction with the class.
Extra Credit Possibility #2: Identify a nonprofit entity (NPO) that interests you. Find that entity’s IRS Form 990, and if
applicable, its audited financial statements, IRS Form 990T, and annual financial report. Highlight aspects of the NPO’s
ACC 561, Fall 2014, Undergraduate Syllabus, page 3
reporting that have or have not been covered in class. Present to the class in approximately 3 minutes the background of
the organization, why you chose it, and at least three accounting/financial reporting aspects that stood out to you and/or
that related to class material in the entity’s reports. You must show the class images of the IRS Form 990, IRS Form
990T, Annual Report, and/or audited financial statements when you explain. Be open to questions from and interaction
with the class.
Each extra credit possibility is worth up to 1.5% to be added directly to your overall course grade. Your actual
percentage earned will depend on the number/quality of issues that you identify, the research that you conduct, the
planning and organization that you put into your class presentation, and your understanding of relevant accounting and
financial reporting issues that have, at least, been covered in class.
Each student may complete none, one, or both extra credit assignments. The maximum extra credit to be earned,
therefore, is 3% of your final course grade. This is an amount sufficient enough to move a student up one step of a
grade. For example, a regular grade of 90% (A-) could move up to 93% (A) with the maximum points earned on both
extra credit possibilities. A regular grade of 75% (C) could move up to a 78% (C+) with the maximum points earned on
both extra credit possibilities.
Each student is encouraged to meet with me at any time about their interests – in person, via e-mail, via phone, or via
whatever channel is best for you (and that I can figure out!). I love this interaction! There are so many great and
fascinating organizations out there that could be covered! That said, each student is required to only let me know (via email is fine) of exactly what each student plans to present to the class at least two class periods before the actual in-class
presentation. (First come, first serve.) Be creative! Have fun! Chat with me any time!
POLICY ON INCOMPLETES AND LATE ASSIGNMENTS:
Assignments are considered late if it is submitted any later than the start of class on the day it is due. The
final grade for late assignments will be reduced 10% per day, including weekends and holidays. Any time
interval of lateness from 5 minutes up to 24 hours will be counted as one entire day. For examples, an
assignment due at 6pm on Tuesday that is submitted at 7pm Tuesday will be considered 1 day late. An
assignment due at 6pm on Tuesday that is submitted at 7pm Wednesday will be considered 2 days late.
A grade of Incomplete is given only in exceptional and rare circumstances that warrant it, e.g. family crisis,
serious illness. It is the student’s responsibility to request and explain the reasons for an Incomplete. The
instructor has no responsibility to give an Incomplete without such a request.
EXPECTATIONS FOR WRITTEN ASSIGNMENTS/FORMATTING:
Students are expected to use good academic English; grades will be lowered for poor grammar, syntax, or
spelling. Those who have difficulty writing can make an appointment with the campus Writing Center to
receive guidance. Graduate students are expected to follow APA or MLA format for in-text citations and
references.
POLICY ON ACADEMIC DISHONESTY:
It is the responsibility of every student to obey and to support the enforcement of the Honor Code, which
prohibits lying, cheating, or stealing in actions involving the academic processes of this class. Students will
properly attribute sources used in preparing written work. In keeping with the UNCG Honor Code, if reason
exists to believe that academic dishonesty has occurred, a referral will be made to the appropriate University
disciplinary division for investigation and further action as required. You and I are expected to abide by the
UNCG Academic Integrity Policy as well as by the UNCG Codes of Conduct. These can be accessed at:
http://bae.uncg.edu/assets/faculty_student_guidelines.pdf . Specifically, UNCG’s Student Conduct Code is
available at http://studentconduct.uncg.edu/policy/code/ and its Academic Integrity Policy is available at
http://academicintegrity.uncg.edu/violation/ .
ACC 561, Fall 2014, Undergraduate Syllabus, page 4
POLICY ON ACCOMMODATIONS FOR STUDENTS WITH DISABILITIES:
To request and receive accommodations at UNCG you must be registered with the Office of Disability
Services (ODS). If you have any specific questions or concerns call ODS at (336)334- 5440 or visit their
website: http://ods.dept.uncg.edu/services/. Students with disabilities that affect their participation in the
course and who wish to have special accommodations should contact ODS and provide documentation of
their disability. ODS will notify the instructor that the student has a documented disability and may require
accommodations. Students should discuss the specific accommodations they require (e.g. changes in
instructional format, assignment format) directly with the instructor as well. Please visit
http://ods.dept.uncg.edu/services/ for further information.
STUDENTS IN DISTRESS:
UNCG cares about your success as a student. We recognize that students often balance many challenging
personal issues and demands. Please take advantage of the University resources designed to help. For
assistance accessing these resources, contact the Dean of Students Office at 334-5514 or Student Academic
Services at 334-5730. The Counseling and Testing Center is available for mental health assistance, 334-5874.
USE OF LAPTOPS OR OTHER ELECTRONIC DEVICES:
Laptops and electronic devices are fine to use for learning purposes. Personal use (e.g. Facebook, checking
email) is prohibited.
BLACKBOARD AND TECHNOLOGY:
For those who are not familiar to Blackboard, please consult the following resources:
- Watch "Blackboard Video Tutorials"(http://ondemand.blackboard.com/students.htm)
- Go to "Blackboard Help for Students" (http://help.blackboard.com/student/index.htm)
- Contact 6-TECH: (336) 256-TECH (8324); [email protected]
CLASS TIME AND ENVIRONMENT
I will respect you and your time. In return, I expect you to do the same for me and for your fellow classmates.
I expect you to read the relevant materials before class. I will cold call during classes. If you are not prepared
to contribute to a class session, then I suggest that you do not attend at all. Lateness and leaving/re-entering
the classroom is disruptive to everyone and should be avoided. On Day One, we will discuss what you expect
and want from the class environment.
ACC 561, Fall 2014, Undergraduate Syllabus, page 5
COURSE OUTLINE (subject to {many} change{s})
Class #
Class 1 - Aug 19
Topic
Reading(s)
Assignment
Introduction to Course
Class 2 - Aug 21
GNP Environment
Chapter 1
E-mail intro*
*E-mail something unique about yourself with a picture - DUE to me by class start time.
Class 3 - Aug 26
Fund Accounting
Chapter 2
HW CH 1 DUE*
Class 4 - Aug 28
Fund Accounting
Chapter 2
HW CH 2 DUE*
Class 5 - Sep 2
Issues of Budgeting and Control
Chapter 3
Class 6 - Sep 4
Recognizing Revenues in Governmental Funds
Chapter 4
HW CH 3 DUE*
Class 7 – Sep 9
Recognizing Revenues in Governmental Funds
Chapter 4
Recognizing Expenditures in Governmental Funds Chapter 5
HW CH 4 DUE*
Class 8 - Sep 11
Recognizing Expenditures in Governmental Funds Chapter 5
HW CH 5 DUE*
Class 9 - Sep 16
Accounting for Capital Projects and Debt Service
Chapter 6
Class 10 – Sep 18
Capital Assets… in Marketable Securities
Chapter 7
Class 11 – Sep 23
Quiz 1 Review.
Chapters 1-7 HW CH 7 DUE*
Class 12 – Sep 25
Quiz 1
Chapters 1-7
Class 13 – Sep 30
Quiz 1 Closure
Long-Term Obligations
Chapters 1-7
Chapter 8
Class 14 – Oct 2
Long-Term Obligations
Chapter 8
Class 15 – Oct 7
Business-Type Activities
Chapter 9
Class 16 – Oct 9
Business-Type Activities
Fiduciary Funds and Permanent Funds
Chapter 9
Chapter 10
HW CH 9 DUE*
Chapter 10
HW CH 10 DUE*
HW CH 6 DUE*
Review Qs DUE*
*At 11:59PM on the day of Class #10, 14 MC exam review questions are DUE via e-mail:
2 MC questions for each of Chapters 1, 2, 3, 4, 5, 6, and 7.
HW CH 8 DUE*
No class – Fall Break: Oct 14
Class 17 – Oct 16
Fiduciary Funds and Permanent Funds
Class 18 – Oct 21
Reporting, Disclosure, and Financial Analysis
*Governmental CAFR Analysis is DUE at the beginning of class time.
Chapter 11 CAFR Analysis DUE*
ACC 561, Fall 2014, Undergraduate Syllabus, page 6
Class #
Reading(s)
Assignment
Governmental CAFR Analysis Closure
Not-for-Profit Organizations
Chapter 12
HW CH 11 DUE*
Class 20 – Oct 28
Not-for-Profit Organizations
Chapter 12
HW CH 12 DUE*
Class 21 – Oct 30
Managing for Results
Chapter 15
Class 22 – Nov 4
Catch Up / Extra Issues
Class 23 – Nov 6
Auditing GNP Organizations
Chapter 16
Class 24 – Nov 11
Auditing GNP Organizations
Chapter 16
Class 25 – Nov 13
Federal Government Accounting
Chapter 17 NPO Analysis DUE*
Class 19 – Oct 23
Topic
HW CH 15 DUE*
HW CH 16 DUE*
*Assignment is DUE at the beginning of class time in class 25. No late assignments accepted. No electronic
submissions accepted. Early submissions may be submitted in a sealed manila envelope (provided in class)
with your signature across the seal. Submit by sliding under the door of Bryan 339 by 12PM on the day of
Class #25.
Class 26 – Nov 18
Optional class for undergraduates
Colleges and Universities
Health Care Providers
Review Qs DUE*
Chapter 13
Chapter 14
*At 11:59PM on the day of Class #26, exam review questions are DUE via e-mail:
2 MC questions for Chapter 8, 2 MC questions for Chapter 9, 2 MC questions for Chapter 10, 2 MC questions
for Chapter 11, 2 MC questions for Chapter 12, 2 MC questions for Chapter 15, 2 MC questions for Chapter
16, 2 MC questions for Chapter 17 = 16 MC.
Class 27 – Nov 20
Quiz 2 Review
NPO Analysis Closure
Chapters 8, 9, 10, 11, 12, 15, 16, 17
HW CH 17 DUE*
Class 28 – Nov 25
Quiz 2
Chapters 8, 9, 10, 11, 12, 15, 16, 17
December 1, 2014 at 9:00AM -
NPO Financial Health Assessment DUE
Submit in a sealed manila envelope (provided in class) with your signature across the seal. Submit by sliding
under the door of Bryan 339 by 9AM on December 1, 2014.
ACC 561, Fall 2014, Undergraduate Syllabus, page 7
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