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NWTC-Marinette - Summer 2007Accounting Governmental/Non-Profit - Video Conference Accelerated
ACCOUNT 10101143 - 01 Accounting-Governmental/Nonprofit Northeast WI Technical College | Summer 2007 | Lecture
CLASS DETAILS Status Open Class Number 51348 Session Regular Academic Session Units 2 units Instruction Mode Video Conference/Accelerated Laboratory Optional Lecture Required Class Components Career Post Secondary Dates 6/13/2007 - 8/1/2007 Grading Graded - Postsecondary Location Marinette Campus Campus Virtual Campus
MEETING INFORMATION Days & Times Room Instructor Meeting Dates W 4:30PM - 9:30PM Marinette Video Conf. Rm 111 Instructor Lloyd Cook 6/13/2007 - 8/1/2007
ENROLLMENT INFORMATION Enrollment Requirements Prerequisite: 10-101-120, Accounting 2 CLASS AVAILABILITY Class Capacity Wait List Capacity 6 5 Enrollment Total Wait List Total 1 0 Available Seats 5
NOTES Class Notes This is an ACL (Accelerated) class. Textbooks for Accelerated classes are available two weeks prior to the class start date. Class does not meet July 4th. This is a Live Video Conference class. E-mail:
SYLLABUS NOTE: Click here for the "Large Font" version of the syllabus.
DESCRIPTION
10-101-143 ACCOUNTING-GOVERNMENTAL & NONPROFIT ...use fundamental knowledge for understanding the operation of governmental and nonprofit entities, their accounting, and financial reporting practices and the standards that shape their accounting and financial reporting systems. (Prerequisite: 10-101-120, Accounting 2)Course Description:
This course provides the opportunity for the learner to develop the knowledge skills process and understanding of the fundamental knowledge of the operation of governmental and nonprofit entities, their accounting, auditing, and financial reporting practices and standards that shape their accounting and financial reporting systems.
Pre-requisites: Accounting 2 (10-101-120)
Required Materials: Today’s Essentials of Governmental and Not-for-Profit Accounting & Reporting, by Martin & West
Southwestern Website w/student resources
2003 version of the text, Includes a PPT for each ChapterSupplies: Calculator, Pencils, Erasers
Note: The syllabus that follows is based, for the most part, on the syllabus of Janet Dausey
Course Competencies: 1. Describe the basics of governmental and not-for-profit accounting. 2. Identify the basics of fund accounting. 3. Summarize governmental operating activities. 4. Summarize governmental balance sheet activities. 5. Examine governmental financial reporting. 6. Describe the basics of not-for-profit accounting and financial reporting. 7. Summarize the unique reporting for healthcare organizations, colleges, and universities.
Expectations and Policies: Attendance: Regular attendance will ensure that you have the maximum opportunity to participate in your education. Tardiness and early leaves may be counted as absences.
Tests: Five Chapter Tests will be completed in class using an open-book/open-notes format. See the Course Calendar and Assessment and Learning Activities Summary for test dates and covered chapters. Tests must be taken on the testing date, or a zero grade will be assigned to the test. However, a test may be taken late once during the semester. Students unable to take a test on the scheduled testing date should contact the instructor for alternative arrangements. Late tests must be completed within five school days after the original test date, or a zero score will be assigned to the test.
Chapter Summary Presentation: Since the class allows for the use of notes for tests, it is beneficial to effectively summarize and organize chapter information. For each chapter, a group of two or three students will be assigned to summarize and present important chapter information. Each group will be assigned only one chapter to summarize. Considerable flexibility is permitted in how this can be accomplished. The use of PowerPoint, handouts, the internet, activities, or other learning tools in any way the group sees fit is encouraged. This will serve as a review for the benefit of the class as a whole. The chapter summary presentations will be assessed based upon their effectiveness in demonstrating the group’s effort in mastering course competencies. For a group member to receive credit, he/she must be actively involved in presenting the chapter summary. Because the purpose of chapter summary presentations is to assist the class in synthesizing information in preparation for chapter tests, they must be completed as scheduled. No late chapter summary presentations will be accepted or graded.
Homework Assignments: Each chapter in the text has a corresponding homework assignment. While homework assignments are not graded, they serve to reinforce important concepts and learning objectives, which ultimately support the achievement of course competencies. See the Course Calendar and Assessment and Learning Activities Summary for homework assignment details. The listed homework assignments are the minimum exercises and problems that should be completed. They are to be attempted at home and then reviewed in class.
Case Problem: A continuous governmental problem starts in Chapter 3 and continues through Chapter 5. This comprehensive problem requires budgetary transactions, the recording of other typical governmental transactions, year-end closing entries, and the production of both fund financial statements and government-wide statements according to the new financial reporting model prescribed in GASB Statement No. 34. See the Course Calendar and Assessment and Learning Activities Summary for case problem details. The problem will be completed as the respective chapter material is covered, and it requires significant effort and analysis. The problem will be reviewed in class at the conclusion of the related chapters. It may be completed in collaboration with others. However, a finders test will be administered upon its conclusion, and this is an individual assessment. Every effort should be made to complete the case problem finders test on its scheduled date. Students unable to take the case problem test at the scheduled time should make other arrangements with the instructor. A 10-point deduction will be applied to late case problem finders test scores. Case problem finders tests must be completed no later than the last class period of the semester.
Grading Policy:
Item
Number Points Each Total Chapter Tests 5 100 500 Chapter Summary Presentation 1 50 50 Case Problem Finders Test 1 100 100 Special Projects & Extra Credit 1 50 50 Total 700
93 – 100 A 602 650 85 – 92 B 550 601 77 – 84 C 498 549 69 – 76 D 445 497 Below 69 F 0 444 Academic Dishonesty: Academic dishonesty will not be tolerated. The minimum penalty will be a zero on the test or project.
Disability Act: NWTC complies with all provisions of the Americans with Disabilities Act and makes reasonable accommodations upon request. Please contact the Special Needs Office in room SC240 or call 920-498-6901 for more information regarding the support services available to you.
Student Rights: For additional information regarding your rights as a student, including college policies on plagiarism, student rights and other services available at NWTC, please consult the NWTC Student Handbook, available through Student Services or on the NWTC webpage at http://www.nwtc.edu
Exit Learning Outcomes: Exit Learning Outcomes are the desired result of a student’s educational experience.
Core Abilities: Core abilities are an essential set of skills that will enable you to maintain successful and fulfilling employment in today’s society.
This course addresses the following core abilities: Learn effectively Think critically and creatively Access and use appropriate information resources
Program Outcomes: Program outcomes are the macro skills that go beyond the context of a specific course, and are essential for an individual’s occupational role. Program Outcomes are taught and reinforced in numerous program courses throughout a program curriculum.
This course addresses the following program outcomes: Analyze accounting information to make appropriate decisions. Prepare budgets. Manage cash flows. Manage general ledger. Manage accounts receivable. Manage accounts payable. Maintain inventory control. Account for fixed assets. Analyze financial statements. Perform reconciliation procedures. Create spreadsheets.
Course Calendar:
Accounting – Government/Nonprofit
Course Calendar (subject to adjustment)
(based, primarily, on the calendar of Janet Dausey)
Session
Date
Topic
Chapter
Assigned Today
Due Today
Prior to 1
6/06
Foundation of Govt./Nonprofit
1
Read Chapter 1
Foundation of Govt./Nonprofit
1
Chapter 1 Homework (NG)
1
6/13
Foundation of Govt./Nonprofit
1
Chapter 1 Homework (NG)
Foundation of Govt./Nonprofit
1
Chapter 1 Summary Presentation
Foundation of Govt./Nonprofit
1
Test 1 – Chapter 1
Read Chapter 2
Chapter 2 Homework (NG)
2
6/20
The Basics of Fund Accounting
2
Chapter 2 Homework (NG)
The Basics of Fund Accounting
2
Chapter 2 Summary Presentation
The Basics of Fund Accounting
2
Test 2 – Chapter 2
Read Chapter 3
Chapter 3 Homework (NG)
3
6/27
Govt. Operating Activity
3
Chapter 3 Homework (NG)
Govt. Operating Activity
3
Case Problem – Chapter 3 (NG)
Case Problem – Chapter 3 (NG)
Govt. Operating Activity
3
Chapter 3 Summary Presentation
Govt. Operating Activity
3
Test 3 – Chapter 3
Read Chapter 4
Chapter 4 Homework (NG)
4
7/11
Govt. Balance Sheet Accounts
4
Chapter 4 Homework (NG)
Govt. Balance Sheet Accounts
4
Case Problem – Chapter 4 (NG)
Case Problem – Chapter 4 (NG)
Govt. Balance Sheet Accounts
4
Chapter 4 Summary Presentation
Govt. Balance Sheet Accounts
4
Test 4 – Chapter 4
Read Chapter 5
Chapter 5 Homework (NG)
5
718
Govt. Financial Reporting
5
Case Problem – Chapter 5 (NG)
Chapter 5 Homework (NG)
Govt. Financial Reporting
5
Case Problem – Chapter 5 (NG)
Govt. Financial Reporting
5
Chapter 5 Summary Presentation
Govt. Financial Reporting
5
Test 5 – Chapter 5
6
7/25
Finders Test
3 – 5
Finders Test
Finders Test
7
8/01
Finish up & Pizza Party
Accounting – Government/Nonprofit
Assessment and Learning Activities Summary
Chapter
Learning Activities
Assessment Activities
Homework
Case Problem
Tests
Chapter Summary Presentations
Finders Test
Questions
Exercises
Problems
1
1 – 20
1-1, 1-2
1-2, 1-4
N/A
1
Chapter 1 – Group 1
N/A
2
1 – 15
2-1, 2-2, 2-3, 2-4, 2-5
2-1, 2-2, 2-3, 2-5, 2-6, 2-7, 2-8, 2-9, 2-10, 2-11
N/A
2
Chapter 2 – Group 2
N/A
3
1 – 15
3-1, 3-2, 3-3, 3-4, 3-5, 3-6, 3-7, 3-8, 3-9, 3-10, 3-11, 3-12
3-1, 3-2, 3-3, 3-4, 3-5, 3-6, 3-7, 3-8, 3-9, 3-10, 3-11
Ch. 3 – Problem
3-15
3
Chapter 3 – Group 3
Finders Test on Case Problem
4
1 – 20
4-1, 4-2, 4-3, 4-7, 4-8, 4-10
4-3, 4-5, 4-6, 4-7, 4-8, 4-11, 4-12
Ch. 4 – Problem
4-16
4
Chapter 4 – Group 4
5
1 – 15
5-1, 5-2, 5-3, 5-5, 5-6, 5-7, 5-8, 5-9, 5-10, 5-12
5-1, 5-2, 5-3, 5-4, 5-5, 5-6, 5-7, 5-8, 5-9, 5-10, 5-11, 5-12
Ch. 5 – Problem
5-16
5
Chapter 5 – Group 5
Additional student on-line resources: A. World Lecture Hall B. Glossary of Accounting Terms, Acronyms, and Abbreviations - NYSSCPA C. Financial Accounting Standards Board (FASB),
the Governmental Accounting Standards Board (GASB)
and the Federal Accounting Standards Advisory Board (FASAB)D.
Luca Pacioli - 1494 - The Father of Accounting? According to WikipediA...The Free Encyclopedia
Outline of Pacioli's Treatise on Double Entry BookkeepingE. The History of Accounting - ACAUS F. History of Accounting - Accounting Advice (the "old" set of Generally Accepted Accounting Principles?" G. GAAP vs OCBOA - Accounting Advice H. Who Was The First Accountant? "Amatino Manucci 1299, Florentine merchant, developed the first known financial records that included all major components of double entry bookkeeping" I. www.inette.com click on NWTC-Marinette (top of page), click on "One" on left and you are here. Disclaimer: This syllabus, a contract between the student and the instructor, is subject to change. (Note: This syllabus is based, for the most part, on the syllabus of Janet Dausey.) Please consider this the 1st draft and when the final revision is complete I will give you a new one. Date of this revision: Tuesday June 05, 2007 08:59:46 PM Other stuff:
Fund Accounting
According to Wikipedia
Fund Accounting is an accounting system often used by nonprofit organizations and by the public sector
Governmental Accounting
According to Wikipedia
The governmental accounting system has a different focus for measuring accounting than public sector accounting. Rather than measuring the flow of economic resources, governmental accounting measures the flow of financial resources. Instead of recognizing revenue when they are earned and expenses when they are incurred, revenue is recognized when there is money available to liquidate liabilities within the current accounting period, and expenses are recognized when there is a drain on current resources.
Non-Profit Organization
According to Wikipedia
A non-profit organization (abbreviated "NPO", or "non-profit" or "not-for-profit") is an organization whose primary objective is to support an issue or matter of private interest or public concern for non-commercial purposes, without concern for monetary profit. A nonprofit organization may be involved in a wide range of areas relating to the arts, social issues, charities, early childhood education, healthcare, politics, religion, research, sports or some other endeavor.
GAAP for the public sector
According to Wikipedia
The objective of financial reporting should be the basis for determining specific accounting principles used by a governmental entity. There are 11 principles of accounting and reporting applicable to municipal governments, developed by the National Council on Governmental Accounting (NCGA). These principles are summarized below as stated in NCGA Statement 1 (Governmental Accounting and Financial Reporting Principles):
Municipal Government
According to Wikipedia
A township (or municipality) (in Ireland: townland) is a settlement which has been granted the status and powers of a unit of local government. Specific use of the term to describe political subdivisions has varied by country.
Copyright © 1996 - 2007 Lloyd Cook
E-mail:
BS - Managerial Accounting - UW-Green Bay.
5 year teaching certificate - Accounting/Computer Applications -
WI Technical College System
Certified Accelerated Learning Facilitator - NWTC-Green Bay
Adjunct Instructor (MS Office, Windows XP, Digital Photography, Scanners, Internet, E-mail & Web Design,
All Accounting Courses, Economics & Credit Procedures) - NWTC-Marinette
Adjunct Instructor (Managerial Accounting) - Silver Lake College, Manitowoc, WI (NWTC-Marinette Campus)
Adjunct Instructor (MS Office, Windows, Adobe PhotoShop, Internet, Web Design, & College For Kids) UW-Marinette.
Certified Web Master. Member of: National Society of Accountants International Webmasters Association (IWA)
Internet Society (ISOC) Html Writers Guild (HWG)
Last updated Tuesday, June 05, 2007 Home
