VIRGINIA TECH
ACIS 4124/5124 – Governmental and Nonprofit Accounting
Spring 2014 Syllabus
Instructor: Dr. Easterwood
Office:
3072 Pamplin
Phone:
231-7920
E-mail:
cmeast@vt.edu
Office Hours: T, Th 11:00 am – 1 pm and by appointment
COURSE OBJECTIVES: To learn the following:
1. The characteristics that distinguish governmental and nonprofit entities from forprofit entities.
2. An understanding of the accounting principles and practices applicable to government and
not-for-profit entities, and how these differ from principles and practices used by businesses.
3. How to record and report transactions for government and not-for-profit entities.
Required Course Materials:
1. Accounting for Governmental and Nonprofit Entities, by Jacqueline L. Reck, Suzanne L.
Lowensohn, and Earl R. Wilson, 16th edition (McGraw-Hill, 2013)
2. Premium Content Access Code – provides access to City of Bingham computerized practice
problem. The access code is bundled with new textbooks purchased at a campus bookstore.
The code may also be purchased online for $15.
Grading:
Percentage
21%
21%
21%
15%
12%
10%
100%
Exam 1
Exam 2
Final Exam
Computerized Practice Problem
In-Class Quiz
Group Project
Total
Final grades will be determined based on the following standard scale:
A/A-
90% – 100%
B/B+/B-
80%-89%
C/C+/C-
70%-79%
D/D+/D- 60%-69%
F
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0 – 59%
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Note: The instructor reserves the right to adjust the final grades based on the class
average and in accordance with the guidelines and grading standards for the course.
During the semester, I will post grades on Scholar. It is your responsibility to keep track
of your grades throughout the course so you have an accurate idea of where you stand in
the class and what you need to do to achieve a desired grade in the class. If you feel there
has been an error in the recording of a grade, you have one week from the day the grade
was posted to bring the error to my attention.
Grades will not be discussed in any manner other than in person. Email or phone may be
used to schedule an appointment to discuss grades. Please note that grades are NOT
negotiable. Grades are based solely on a student’s performance on exams, quizzes, and
the project.
Scholar:
Information about the course including the syllabus, tentative schedule, and instructor’s
office hours can be found on Scholar.
Examinations:
There will be two midterm exams, an in-class quiz, and a comprehensive final exam.
Exams and the in-class quiz will consist of a combination of objective questions (multiple
choice and matching, for example) and short answer/problem questions. The final exam
may have a greater percentage of objective questions.
Exams I and II will be given from 7 to 9 p.m. on Tuesday, February 25 and Thursday,
April 10, respectively. The location for Exam I and Exam II will be announced.
The in-class quiz will be given on April 4.
The final exam will be given according to the university-wide published exam schedule.
The final exam location will be in our regular classroom
Final Exam Schedule: 12:20 Class Saturday, May 10, 3:25 pm – 5:25 pm
1:25 Class Tuesday, May 13, 3:25 pm – 5:25 pm
No make-up exams will be given without prior approval. If you are ill or have an
emergency that will cause you to miss an exam you must provide me with appropriate
documentation related to your illness or emergency. If you have a class on the evening a
test is given, you must provide me with documentation related to the conflicting course (a
copy of a course schedule, for example) in order to secure a make-up exam. If I do not
receive an acceptable explanation of your absence from a test, you will be assigned a
grade of zero for the exam.
Other exam policies:
Cell phones must be turned off and put away during exams.
Students may not keep their exams. Exams must be returned to the instructor. Leaving
the exam room, the classroom, the instructor’s office, etc. with an ACIS 4124/5124 exam
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is considered a violation of the VT Honor Code.
Computerized Practice Problem:
The City of Bingham software is available online using the premium content access code.
The purpose of this computerized practice problem is to provide a continuous problem
that will allow students to see some of the relationships between funds and to prepare
both fund activity and government-wide activity journal entries. Chapters 2-9 of Bingham
will be completed.
Students are to individually prepare journal entries and financial statements. Each
student must turn in a cumulative project data file and certain printouts at specific times
throughout the semester. Data files and printouts should be submitted through Scholar.
The due dates for these assignments are noted on the tentative schedule.
Due dates for this assignment will be strictly observed and late assignments will not be
accepted.
Group Project: Students should form groups of three to complete a group project. The
project will consist of submitting a paper and preparing a class presentation. Each group
is required to select a particular state, large city or county and obtain the most recent
Comprehensive Annual Financial Report (CAFR) available for that jurisdiction. Students
will be required to answer questions related to the CAFR they have selected. Additional
information about the project and the due date(s) will be provided.
Suggested Homework:
Suggested homework assignments are detailed in a separate tentative schedule for the
course. Homework assignments will not be collected; however, in order to perform well
in this class, students should complete the suggested homework assignments.
Re-grade Policy:
If a student believes there is an error in the grading of his/her exam, he/she has one week
from the time the exam is gone over during class to request that the exam be re-graded.
Exams will not be re-graded after a week. Extensions on this re-grade policy are not
given to students who are absent the day an exam is gone over during class.
Please note that grades for the objective portion of exams are based on the answers a
student marked on the opscan while taking the exam. Students will not be given
credit for answers that are marked incorrectly on the opscan and correctly on the exam
booklet.
Cell Phone Policy:
Cell phones that go off during class time can be very distracting; therefore, cell phones
should be silenced before class begins.
Laptop Policy:
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If a student turns his/her laptop on in class, he/she must be using it for work related to
this ACIS 4124/5124 class (taking notes, for example). I reserve the right to prohibit
laptop use in class if students are not using their laptops for ACIS 4124/5124 related
work.
Student Responsibility
Students are expected to attend all classes and participate in class discussions. If,
however, a student should miss a class, the student is responsible for all material covered
during the class. It is the student’s responsibility to obtain notes from a classmate and
study them for understanding.
Special Accommodations:
Any student with documented special needs or circumstances should notify me at the
beginning of the semester so the necessary accommodations can be arranged. In
addition, please feel free to meet with me during office hours or by appointment to
discuss any issues or concerns you may have regarding the class.
Academic Honesty
The honor code will be strictly enforced in this course. All assignments submitted shall be
considered graded work, done by the individual—except for noted group projects. All
aspects of a student’s coursework are covered by the Honor System. Any suspected
violations of the Honor Code will be promptly reported to the Honor System.
Honesty in your academic work will develop into professional integrity. The faculty and
students of Virginia Tech will not tolerate any form of academic dishonesty.
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ACIS 4124/5124 – Governmental & Nonprofit Accounting
Tentative Schedule
Spring 2014
The instructor reserves the right to make changes to this tentative schedule. Students will be
notified of changes.
Date
1/22
1/24
1/27
Day
W
F
M
Chapter
Introduction
1 – Introduction
2 – Acctg & Financial Reporting for SLGs
1/29
1/31
2/3
W
F
M
2/5
W
2/7
F
2/10
M
2 – Acctg & Financial Reporting for SLGs
2 – Acctg & Financial Reporting for SLGs
3 – Govt’l Operating Statement Accts; Budgetary
Accounting
3 – Govt’l Operating Statement Accts; Budgetary
Accounting
3 – Govt’l Operating Statement Accts; Budgetary
Accounting
4 – Acctg for Govt’l Operating Activities
2/12
2/14
2/17
W
F
M
4 – Acctg for Govt’l Operating Activities
4 – Acctg for Govt’l Operating Activities
5 – Gen. Capital Assets & Capital Projects
2/19
2/21
2/24
2/25
2/26
2/28
3/3
3/5
3/7
3/8-3/16
3/17
3/19
3/21
W
F
M
T
W
F
M
W
F
M
W
F
5 – Gen. Capital Assets & Capital Projects
5 – Gen. Capital Assets & Capital Projects
Catch-up and Review
Chapters 1-5 - Test 1 – 7:00 PM to 9:00 PM
6 – Gen. L/T Liab. & Debt Service
No class
6 – Gen. L/T Liab. & Debt Service
6 – Gen. L/T Liab. & Debt Service
7 – Business-Type Activities of SLGs
Spring Break - No Class
7 – Business-Type Activities of SLGs
7 – Business-Type Activities of SLGs
8 – Fiduciary Activities – Agency & Trust Funds
3/24
3/26
3/28
3/31
4/2
M
W
F
M
W
8 – Fiduciary Activities – Agency & Trust Funds
9 – Financial Reporting of SLGs
9 – Financial Reporting of SLGs
9 – Financial Reporting of SLGs
17 – Acctg & Reporting for the Fed. Government
4/4
4/7
4/9
F
M
W
In-class quiz
17 – Acctg & Reporting for the Fed. Government
17 – Acctg & Reporting for the Fed. Government
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Suggested Homework
Chapter 1: Ex 1-2, 1-3
Chapter 2: Q 2-1, 2-2, 2-3
EX 2-2, 2-6
Chapter 3: Q 3-7
Ex 3-2, 3-3, 3-4, 3-5, 3-6, 3-7,3-8
Bingham-Chapter 2 Due
Chapter 4: Q 4-5
Ex 4-2, 4-4, 4-6, 4-7, 4-9, 4-10
Bingham-Chapter 3 Due
Ex 5-2 (1-6,8-10), 5-5, 5-7, 5-9,
5-10
Bingham-Chapter 4 Due
Q6-5;Ex 6-2, 6-5, 6-7, 6-8
Bingham-Chapter 5 Due
Ex 7-2, 7-4, 7-5, 7-8
Bingham-Chapter 6 Due
Q8-1,Q8-4;Ex 8-2, 8-3, 8-4,
8-7, 8-10
Bingham-Chapter 7 Due
Ex 9-2, 9-5, 9-7, 9-9, 9-10
Bingham-Chapter 8 Due
Ex 17-1, 17-2, 17-3, 17-4, 17-5,
17-6
Bingham-Chapter 9 Due
4/10
4/11
4/14
4/16
4/18
Th
F
M
W
F
4/21
M
4/23
4/25
4/28
4/30
5/2
5/5
5/7
5/10
5/13
W
F
M
W
M
W
Sat
T
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Chapters 6-9 & 17 -Test 2 – 7:00 PM – 9:00 PM
13 – Acctg for Not-For-Profit Organizations
Ex 13-1, 13-2, 13-3, 13-4, 13-8
13 – Acctg for Not-For-Profit Organizations
13 – Acctg for Not-For-Profit Organizations
14 – NPOs – Regulatory, Tax. & Performance
To be determined
Issues
14 – NPOs – Regulatory, Tax. & Performance
Issues
15 – Accounting for Colleges & Universities
To be determined
15 – Accounting for Colleges & Universities
15 – Accounting for Colleges & Universities
11 – Auditing of Govt’l & Not-For-Profit Orgs
To be determined
No class
11 – Auditing of Govt’l & Not-For-Profit Orgs
Catch-up and Review
Comprehensive Final Exam – 12:20 section – 3:25 PM – 5:25 PM
Comprehensive Final Exam – 1:25 section – 3:25 PM - 5:25 PM
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