ACC/460 Entire CourseClick this link to get the tutorial:http://homeworkfox.com/questions/business/1633/acc-460-entire-course-phoenix-university-new-updated-course/ ACC/460 Week 1 Individual AssignmentPrepare a 350- to 700-word paper comparing and contrasting GASB and FASB accounting.Explain the objectives of the two standards boards and how they are similar and different.Describe how the modified accrual basis of accounting differs from full accrual accounting.Format your paper consistent with APA guidelines.Week 1 DQ1Log into http://www.charitynavigator.org/. Choose a good charity and a bad charity and explain whyyou feel they should labeled good or bad.Week 1 DQ2What is fund accounting? How does it compare to proprietary accounting? Why is fund accountingnecessary? What are the major fund types?Week 1 DQ 3What are some examples of government and not-for-profit organizations? How do businessesmeasure success? How do government organizations measure success?Week 1 DQ4What is the purpose of CAFR? What are the components of CAFR? Why is the Federal Government notsubject to GASB 34? How do government-wide financial statements add information not available infund financial statements? ACC/460 Week 2 Individual AssignmentResources: Ch. 1, 2, & 3 of Government and Not-for-Profit AccountingPrepare written answers to the following assignments from Government and Not-for-Profit Accounting:Ch. 1: Exercise 1-1, Questions 1, 3, 4, 5, 7, & 8
Ch. 2: Question for Review and Discussion 12. In addition to answering question 12, provide a responsein 150-350 words differentiating between a budget and a Comprehensive Annual Financial Report(CAFR).Ch. 3: Exercise 3-2, Questions 1, 2, 3, 6, 8, & 9 ACC/460 Week 2 Learning Team AssignmentResources: Each team member’s CAFR list from Week OneSelect one team member’s CAFR to be the basis for this and subsequent Learning Team assignments,using the CAFRs chosen for the CAFR list activity in Week One.Locate and review a copy of the budget accompanying your selected CAFR.Prepare a 700- to 1,050-word overview of the government that filed your selected CAFR.Include the following information in your overview:PopulationGovernmental structureSize of budget and its interrelationship with the CAFRMajor industries located in the entityOther pertinent demographic informationFormat your paper consistent with APA guidelines.Week 2 DQ1What is meant by an in-substance defeasance, and how can a government use it to lower its interestcosts? How must it recognize a gain or loss on defeasance if it accounts for the debt in a proprietaryfund? How do the GASB standards pertaining to in-substance defeasances differ from those of theFASB?Week 2 DQ2What is an encumbrance? How does an encumbrance affect expenses and expenditures? What is theimpact of encumbrance accounting on a governmental budget? Explain. An encumbrance iscommitment made by the government to purchase goods, such as supplies or services, such as officecleaners.Week 2 DQ3
What are the basic principles of fund accounting? When do governmental entities recognize revenue?Why is timing important in recognizing revenue?Week 2 DQ4What is the purpose of the capital projects fund? What is the purpose of the debt service fund?What is inter-period equity? How does inter-period equity affect capital project and debt servicesfunds? ACC/460 Week 3 Individual AssignmentResources:Ch. 2, 4, 5, & 6 of Government and Not-for-Profit AccountingPrepare written answers to the following assignments from Government and Not-for-Profit Accounting:Ch. 2: Exercise 2-1, Questions 1 through 10Ch. 4: Exercise 4-1, Questions 1 through 10, and Exercise 4-7, Question 1 & 2Ch. 5: Questions for Review and Discussion 1 & 2In your answers to the Ch. 5 questions, address how encumbrances affect the expenses andexpenditures.Ch. 6: Questions for Review and Discussion 1 & 6 ACC/460 Week 3 Learning Team AssignmentResources: Ch. 4 & 6 of Government and Not-for-Profit AccountingPrepare written answers to the following problems from Government and Not-for-Profit Accounting:Ch. 4: Problem 4-16 – The distinction between exchange and nonexchange revenues is not alwaysobvious.Ch. 6: Continuing Problems 1–4, found at the beginning of the Problems section at the end of thechapter. For this assignment, use the CAFR your team selected in Week Two.Week 3 DQ1What is the revenue recognition criteria used in government entities? What are some examples ofgovernment sources of revenue? How are these sources accounted for?Week 3 DQ2What is an interfund transfer? Why would government entity transfer money from one fund toanother? How are interfund transfers reported on a financial report?
Week 3 DQ3How can a government entity prepare government-wide statements using the fund statements? Whatis a governmental reporting entity?Week 3 DQ4You are the sole contributor to a philanthropic foundation. You must specify whether investmentgains should be expendable or nonexpendable. Present key arguments in favor and against permittingthe gains to be expendable. ACC/460 Week 4 Individual AssignmentResources: Ch. 9 & 10 of Government and Not-for-Profit AccountingPrepare written answers to the following assignments from Government and Not-for-Profit Accounting:Ch. 9: Exercise 9-3, Part aCh. 10: Questions for Review and Discussion 1, 5, & 15 ACC/460 Week 4 Learning Team AssignmentResources: Ch. 5 & 10 of Government and Not-for-Profit AccountingPrepare written answers to the following problems from Government and Not-for-Profit Accounting:Ch. 5: Problem 5-11 – Nonexchange expenditures are the mirror image of nonexchange revenues.Ch. 10: Problem 10-7, Parts 1, 2, & 3 – The basic financial statements of a pension plan provide onlylimited amounts of information as to its economic condition.Week 4 DQ1What financial statements are required of not-for-profit organizations? How are they different orcomparable to those provided by organizations that operate for profit? How does the retainedearnings section of for-profit organizations differ from that of the net assets section of not-for-profits?Week 4 DQ2What are the three classifications of net assets established by FASB Statement 117? How are thesenet assets affected by the existence or absence of donor-imposed restrictions? How are releases ofthese net assets accomplished?Week 4 DQ3What constitutes a pledge or contribution? When does a not-for-profit organization recognize pledgerevenue and contribution revenue? How do contributions differ from exchanges?
Week 4 DQ4In what significant way do not-for-profits account for investments differently from businesses? Howare investments reflected in the statements of not-for-profits? What are the disclosure requirementsfor not-for-profits as related to investments? ACC/460 Week 5 Individual AssignmentAccountability in Reporting MemoWrite a one-page, double-spaced memo to a nonfinancial audience explaining how increasing scrutinyand demand for accountability by the public has influenced reporting for not-for-profit andgovernmental entities.Cite all of your sources.Ch. 12 Textbook ExercisesResources: Ch. 12 of Government and Not-for-Profit AccountingPrepare written answers to the following assignment from Government and Not-for-Profit Accounting:Ch. 12: Questions for Review and Discussion 1 & 2SFAS 116 and 117 Executive SummaryResources: Statements of Financial Accounting Standards (SFAS) 116 and 117; sample ExecutiveSummaryWrite a one-page Executive Summary assessing the requirements of SFAS 116 and 117 and its effect onthe financial statements.Refer to the sample Executive Summary located on the student website under the Assessment sectionof Week Five for instructions on how to format your assignment.Format your paper consistent with APA guidelines. ACC/460 Week 5 Learning Team AssignmentCh. 9 & 11 Textbook ProblemsResources: Ch. 9 & 11 of Government and Not-for-Profit AccountingPrepare written answers to the following problems from Government and Not-for-Profit Accounting:Ch. 9: Continuing Problems 1–6, found at the beginning of the Problems section at the end of thechapter. For this assignment, use the CAFR your team selected in Week Two.
Ch. 11: Continuing Problems 1–6, found at the beginning of the Problems section at the end of thechapter. For this assignment, use the CAFR your team selected in Week Two.Week 5 DQ1What is a performance audit? In what significant ways do performance audits differ from financialaudits?Week 5 DQ2How do audits of governmental agencies differ from those of not-for-profit entities? How are theseaudits different from those of organizations that operate for profit? Who are the stakeholders for thevarious audits?Week 5 DQ 3What is the Single Audit Act? How has this act influenced auditing of governmental agencies? Whattypes of reports and opinions do the auditors provide?