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ACC 460 Week 1 Case 1-14 Research Case- Comparing
Financial Reporting Objectives
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Review Ch. 1. Case 1-14, Research Case-GASB. Write a 175- to 350-
word response. Compare the financial reporting needs of the resource
providers of government/not-for-profit organizations to the financial
reporting needs of the resource providers of for-profit organizations.
Click the Assignment Files tab to submit your Microsoft® Word
document. 1-14 Research Case—Comparing Financial Reporting
Objectives. GASB Concepts Statement No. 1, “Objectives of
Financial Reporting,” states that “Accountability is the cornerstone of
all financial reporting in government.” FASB Statements of Financial
Accounting Concepts Statement No. 8, “Conceptual Framework for
Financial Reporting,” states that “The objective of general purpose
financial reporting is to provide financial information about the
reporting entity that is useful to existing and potential investors,
lenders, and other creditors in making decisions about providing
resources to the entity.” However, the FASB has acknowledged
through Statement of Financial Accounting Concepts No. 4,
“Objectives of Financial Reporting by Nonbusiness Organizations,”
that users of business and not-for-profit entities differ. Required
Compare the financial reporting needs of the resource providers of
government/not-for-profit organizations to the financial reporting
needs of the resource providers of for-profit organizations.
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ACC 460 Week 1 Ex 2-16 Matching Fund Types with
Fund Categories

Complete Exercise 2-16, Matching Fund Types with Fund Categories.
Click the Assignment Files tab to submit your assignment. 2-16
Matching Fund Types with Fund Categories. For each of the
following fund types, indicate its fund category by placing either
“GF” for governmental funds, “PF” for proprietary funds, or “FF” for
fiduciary funds in the space provided before each item. Fund Type
______ Agency fund ______ Permanent fund ______ Debt service
fund ______ Internal service fund ______ Pension (and other
employee benefit) trust fund ______ Special revenue fund ______
Enterprise fund ______ General Fund ______ Investment trust fund
______ Capital projects fund ______ Private-purpose trust fund
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ACC 460 Week 1 Ex 3-22 Recording General Fund
Operating Budget and Operating Transactions
Complete Exercise 3-22, Recording General Fund Operating Budget
and Operating Transactions (Requirements a and b). Click the
Assignment Files tab to submit your assignment. 3-22 Recording
General Fund Operating Budget and Operating Transactions. The
Town of Bedford Falls approved a General Fund operating budget for
the fiscal year ending June 30, 2017. The budget provides for
estimated revenues of $2,700,000 as follows: property taxes,
$1,900,000; licenses and permits, $350,000; fines and forfeits,
$250,000; and intergovernmental (state grants), $200,000. The budget

approved appropriations of $2,650,000 as follows: General
Government, $500,000; Public Safety, $1,600,000; Public Works,
$350,000; Culture and Recreation, $150,000; and Miscellaneous,
$50,000. Required Prepare the journal entry (or entries), including
subsidiary ledger entries, to record the Town of Bedford Falls's
General Fund operating budget on July 1, 2016, the beginning of the
Town's 2017 fiscal year. Prepare journal entries to record the
following transactions that occurred during the month of July 2016.
Revenues were collected in cash amounting to $31,000 for licenses
and permits and $12,000 for fines and forfeits. Supplies were ordered
by the following functions in early July 2016 at the estimated costs
shown: image During July 2016, supplies were received at the actual
costs shown below and were paid in cash. General Government,
Culture and Recreation, and Miscellaneous received all supplies
ordered. Public Safety and Public Works received part of the supplies
ordered earlier in the month at estimated costs of $10,700 and $5,900,
respectively. image Page 108Calculate and show in good form the
amount of budgeted but unrealized revenues in total and from each
source as of July 31, 2016. Calculate and show in good form the
amount of available appropriation in total and for each function as of
July 31, 2016.
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ACC 460 Week 2 Chapter 8-1, 8-2, 8-3 Question
Assignment
Complete the following questions in Ch. 8 in in 90 to 175 words each:
• 8-1 • 8-2 • 8-3 on p. 339 Click the Assignment Files tab to submit
your assignment. 8-1. Explain the distinction(s) between agency funds

and trust funds. What financial statements are prepared for each? 8-2.
Identify the different types of trust funds and explain the purpose of
each type. 8-3. Describe the basic activities conducted by a tax agency
fund. What are some of the issues that make tax agency fund
accounting complex?
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ACC 460 Week 2 Exercise 4-15 Examine the CAFR
Complete the following in Exercise 4-15: • a. (1) • b. (1) • c. (1)
Download a copy of the most recent Comprehensive Annual Financial
Report (CAFR) for a city of your choice. Note: many cities with
25,000 or more population provide Internet access to their CAFRs to
answer. Click the Assignment Files tab to submit your assignment. 4-
15 Examine the CAFR. Utilizing the comprehensive annual financial
report obtained for Exercise 1-16, follow these instructions.
Governmental Activities, Government-wide Level. Answer the
following questions. (1) Are governmental activities reported in a
separate column from business-type activities in the two government-
wide financial statements? (2) Are assets and liabilities reported either
in the relative order of their liquidity or on a classified basis on the
statement of net position? (3) Is information on expenses for
governmental activities presented at least at the functional level of
detail? (4) Are program revenues segregated into (a) charges for
services, (b) operating grants and contributions, and (c) capital grants
and contributions on the statement of activities? General Fund.
Answer the following questions. (1) What statements and schedules
pertaining to the General Fund are presented? (2) What purpose is
each statement and schedule intended to serve? (3) Are any

noncurrent or nonliquid assets included in the General Fund balance
sheet? If so, are they offset by equal amounts classified as
“nonspendable” fund balances? (4) Are any noncurrent liabilities
included in the General Fund balance sheet? If so, describe them. (5)
Are revenue classifications sufficiently detailed to be meaningful? (6)
Has the government refrained from reporting expenses rather than
expenditures? Special Revenue Funds. Answer the following
questions. (1) What statements and schedules pertaining to the special
revenue funds are presented? (2) Are these only combining
statements, or are there also statements for individual special revenue
funds? (3) Are expenditures classified by character (i.e., current,
intergovernmental, capital outlay, and debt service)? (4) Are current
expenditures further categorized at least by function?
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ACC 460 Week 2 Exercise 7-16 Multiple Choice
Assignment
Complete the following multiple choice questions in Exercise 7-16, p.
294: • 1-10 Click the Assignment Files tab to submit your assignment.
Multiple Choice. Choose the best answer. 1. Within the government-
wide financial statements, the column for Business-type Activities
will generally include: a. Internal service funds only. b. Enterprise
funds only. c. All internal service fund and enterprise fund
transactions added together and accounted for on the accrual basis of
accounting. d. All enterprise fund transactions and only the internal
service fund transactions undertaken with governmental funds on the
accrual basis of accounting. 2. Which of the following would most
likely be accounted for in an internal service fund? a. The city pool. b.

The city's investments, which are pooled with the county's and the
school district's investments. c. An asphalt plant used to supply the
asphalt needed to resurface the city's streets. d. Proceeds from an
endowment that are used to maintain the city's library. 3. Under
GASB standards, the City of Parkview is required to use an enterprise
fund to account for its nature center if: a. It charges fees to assist in
paying for the maintenance of the nature center. b. The Nature Center
was originally financed through the issuance of general obligation
bonds. c. The ordinance that was passed to establish the nature center
requires that all costs of the Nature Center be paid for by user fees. d.
All of the above are true. 4. During 2017, the Gateway City
government recorded a $15,000 transfer from the General Fund to an
internal service fund; a $25,000 transfer from the General Fund to an
enterprise fund; a $10,000 transfer from an enterprise fund to an
internal service fund, and a $5,000 transfer from an enterprise fund to
the General Fund. In the Business-type Activities column of the
government-wide financial statements, Gateway City should report: a.
Net transfers out of $5,000. b. Net transfers in of $10,000. c. Net
Transfers in of $25,000. d. Net Transfers in of $35,000. 5. Which of
the following events would generally be classified as nonoperating on
an enterprise fund's statement of revenues, expenses, and changes in
net position? a. Billing other funds of the same government for
services. b. Loss on the sale of a piece of equipment. c. Depreciation
expense. d. Administrative expense. 6. In reviewing the accounting
records of the Transportation Services Fund, an internal service fund
of Douglas City, you notice that the fund uses budgetary accounts.
This is most likely because a. The administrators of the fund prefer to
prepare a budget to use in managing the fund. b. GASB requires the
use of budgetary accounts in internal service funds. c. The city
council must legally approve the fund's budget. d. The accountants for
the fund are unfamiliar with proper accounting procedures for a
proprietary fund. 7. Under GASB standards, which of the following
events would be classified as an investing activity on a proprietary

fund's statement of cash flows? a. Interest earned on certificates of
deposit held by the proprietary fund. b. Purchase of equipment for use
by the proprietary fund. c. Grant received to construct a building that
will be used by the proprietary fund. d. All of the above would be
considered investing activities for reporting purposes. 8. An internal
service fund used for insurance activities should recognize an expense
and a liability when: a. A claim has been made, it is reasonably
possible that a liability has been incurred, and the amount will be
reasonably estimable at some time in the near future. b. A claim has
not been made, but it is reasonably possible that a liability has been
incurred or an asset has been impaired, and an amount can be
reasonably estimated. c. A claim has been made, it is probable that an
asset has been impaired, and the amount will be reasonably estimable
at some time in the near future. d. A claim has been made, it is
probable that a liability has been incurred, and the amount can be
reasonably estimated. 9. During the year an enterprise fund purchased
$230,000 worth of equipment. The equipment was acquired with a
cash down payment of $30,000 and a $200,000 loan. A partial year of
depreciation on the equipment was taken in the amount of $23,000.
What is the net effect of this transaction on the net position accounts
of the enterprise fund? a. Net investment in capital assets is increased
by $7,000. b. Net investment in capital assets is increased by $30,000.
c. Net investment in capital assets is increased by $207,000. d. Net
investment in capital assets is increased by $230,000. 10. Tinsel Town
had the following long-term liabilities at year end: What amount
should be recorded as long-term liabilities in the proprietary fund
financial statements? a. $0. b. $200,000. c. $250,000. d. $450,000.
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ACC 460 Week 2 Team Simulation Assignment

Access the McGraw-Hill Connect simulation. Each team member
must complete the simulation activity. This week you will complete
Ch. 1, 2, and 3, which can be found in the Connect Guide. Discuss, as
a team, your experiences and key concepts learned. Each team
member will receive points, at the instructor's discretion, for
completing the simulation and contributing to the discussion
Complete the City of Smithville problems using the Connect Guide: •
Chapter 1: Introducing the (Short Version) of the City of Smithville
Cumulative Problem. • Chapter 2: Opening the Books. • Chapter 3:
Recording the Annual Budget. Submit a PDF version of the post-
closing trial balance for 2016, the pre-closing subsidiary ledgers, and
pre-closing General Fund trial balance for 2017. Click the
Assignment Files tab to submit your assignment.
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ACC 460 Week 3 Chapter 9 Exercise 9-15 Examine the
CAFR
Utilize the CAFR obtained for 4-15 in Week 2. Complete the
following in Exercise 9-15: • A • B (1) • C on p. 397 Click the
Assignment Files tab to submit your assignment. Examine the CAFR.
Utilizing the CAFR obtained for Exercise 1-16 and your answers to
the questions asked in Exercise 1-16 and the corresponding exercises
in Chapters 2 through 8, comment on the following: a. Analysis of
Introductory Section. Does the report contain all of the introductory
material recommended by the GASB? Is the introductory material
presented in such a manner that it communicates significant

information effectively—do you understand what the government is
telling you? On the basis of your study of the entire report, do you
think the introductory material presents the information fairly?
Comment on any information in the introductory section you feel is
unnecessary, and explain why. b. Analysis of Financial Statements. 1.
Do the statements, notes, and schedules in the financial section
present the information required by the GASB? Are Total columns
provided in the basic financial statements and schedules for the
primary government and the reporting entity? If so, are the Total
columns for the current year compared with Total columns for the
prior year? 2. Review your answers to the questions asked in
Exercises 3-15 and 4-15 in light of your study of subsequent chapters
of the text and your analysis of all portions of the annual report.
Based on your current knowledge and understanding of government
accounting, would you change or modify any of your earlier answers?
If so, explain how you would change them and why you would
change them. c. Analysis of Statistical Section. Does the statistical
section present information in the five categories defined by the
GASB? What tables and schedules are presented for each category?
Does the information provided in each category appear to meet the
purpose of the category? Explain your response. d. Service Potential
of the CAFR. In your opinion, what are the most important
information needs that a governmental annual report should fulfill for
each of the following: 1. Administrators. 2. Members of the
legislative branch. 3. Interested residents. 4. Creditors or potential
creditors. In what ways does the CAFR you have analyzed meet the
information needs you have specified for each of the four groups,
assuming that members of each group make an effort to understand
reports equivalent to the effort you have made? In what way does the
report fail to meet the information needs of each of the four groups?
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ACC 460 Week 3 Chapter 10 Exercise 10-20, Comparative
Ratios
Complete the following in Exercise 10-20: • a and b, p. 436 Limit the
number of financial performance measures to three for the City of
Arborland. Click the Assignment Files tab to submit your assignment.
Comparative Ratios. The government-wide financial statements for
the City of Arborland for a three-year period are presented on the
following pages. • Additional information follows: o Population: Year
2017: 30,420, Year 2016: 28,291, Year 2015: 26,374. o Debt limit
remained at $20,000,000 for each of the three years. Net cash from
operations is generally 80 percent of total revenues each year.
Required a. Which of the financial performance measures in
Illustration 10-4 can be calculated for the City of Arborland based on
the information that is provided? b. Calculate those ratios identified in
part a for FY 2017. Show your computations. c. Provide an overall
assessment of the City of Arborland's financial condition using all the
information provided, both financial and nonfinancial. Use
information from the prior years to form your assessment.
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ACC 460 Week 3 Exercise 12-15, Multiple Choice
Assignment
Complete the multiple choice questions in Exercise 12-15, p. 510: • 1-
10 Click the Assignment Files tab to submit your assignment.

Multiple Choice. Choose the best answer. 1. Budgets of government
entities: a. Are integrated with the financial accounting system. b.
Enable governments to demonstrate compliance with laws and to
communicate performance effectiveness. c. Are adopted by
governments after required public hearings. d. All of the above. 2.
Which of the following statements regarding budgets of not-for-profit
organizations is true? a. Not-for-profit organization budgets are legal
documents reflecting plans for spending resources. b. A not-for-profit
entity may choose to prepare a budget to demonstrate accountability
to its resource providers, such as donors and grantors. c. The
budgeting approaches used for governments generally cannot be used
by not-for-profit entities. d. All of the above statements are true. 3.
Which of the following steps would not usually be part of the
budgeting process? a. Heads of operating departments prepare budget
requests. b. The chief executive (mayor or city manager, as
appropriate) formally adopts the budget, thus giving it the force of
law. c. One or more public budget hearings are held. d. Budget officer
and other central administrators review and make adjustments to
departmental requests. 4. The budgeting principle in generally
accepted accounting principles (GAAP) for state and local
governments states that: a. The accounting system should provide the
basis for appropriate budgetary control. b. Budgetary comparison
schedules should be presented as required supplementary information
for the General Fund and each major special revenue fund that has a
legally adopted budget. c. Annual budgets should be adopted by each
government. d. All of the above. 5. The budgetary comparisons
required of state and local governments under GASB standards: a.
Can be presented as a schedule within required supplementary
information (RSI) or as a statement in the basic financial statements.
b. Must be a schedule included as part of RSI. c. Continues to be a
statement included in the basic financial statements. d. Is no longer
required. 6. An approach to budgeting that requires the very existence
of each program and the amount of resources requested to be

allocated to that program to be justified each year is called: a.
Incremental budgeting. b. Zero-based budgeting. c. Performance
budgeting. d. Planning-programming-budgeting. 7. Which of the
following does not represent a performance measurement group under
the balanced scorecard? a. Customer. b. Internal business processes. c.
Economy and efficiency. d. Learning and growth. 8. Governments
that choose to report service efforts and accomplishments (SEA): a.
Must adhere to GASB SEA guidance. b. Must adhere to GASB SEA
guidance only if the SEA report is part of the CAFR. c. Must adhere
to guidance provided by the Association of Government Accountants
(AGA) because GASB has not issued standards addressing SEA. d.
May refer to guidance provided by the GASB, the AGA, or other
professional organizations. 9. Efficiency measures, as the term is used
in the service efforts and accomplishments (SEA) literature, can be
described as: a. Measures that relate the quantity or cost of resources
used to units of output. b. Measures that relate to the amount of
financial and nonfinancial resources used in a program or process. c.
Measures that relate costs to outcomes. d. Measures that reflect either
the quantity or quality of a service provided. 10. Which of the
following provides guidance to government managers and auditors in
determining appropriate and allowable costs chargeable to federal
grants? a. Financial Accounting Standards Board pronouncements. b.
Government Finance Officers Association best practices documents.
c. Principles published by the Association of Government
Accountants. d. Guidelines issued by the Office of Management and
Budget.
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ACC 460 Week 3 Team Simulation Assignment

Access the McGraw-Hill Connect simulation. Each team member
must complete the simulation activity. This week you will complete
Ch. 4, which can be found in the Connect Guide. Discuss, as a team,
your experiences and key concepts learned. Each team member will
receive points, at the instructor's discretion, for completing the
simulation and contributing to the discussion Complete the City of
Smithville problems using the Connect Guide: • Chapter 4: Recording
Operating Transactions Affecting the General Fund and
Governmental Activities at the Government-wide Level. Submit a
PDF version of the post-closing trial balance for 2016, the pre-closing
subsidiary ledgers, and pre-closing General Fund trial balance for
2017. Click the Assignment Files tab to submit your assignment.
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ACC 460 Week 4 Chapter 14-1, 14-4
Complete questions 14-1 and 14-4 in approximately 30 to 90 words
each. Click the Assignment Files tab to submit your assignment. 14-1
Identify which level(s) of government regulate(s) NFP organizations
and identify the source of authority. 14-4 What are the distinguishing
characteristics between a public charity and a private foundation?
What is a public support test and how does it relate to public charities
and private foundations?
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ACC 460 Week 4 Exercise 13-14, Multiple Choice
Assignment

Complete the multiple choice questions in Exercise 13-14, p. 563: • 1-
10 Click the Assignment Files tab to submit your assignment.
Multiple Choice. Choose the best answer. 1. Which of the following
organizations would be considered a nongovernmental not-for-profit
organization? a. An organization that provides shelter for men who
have been victims of domestic violence and has been designated as a
not-for-profit organization by the IRS. The board of trustees is
composed of county commissioners, but in the case of the dissolution
of the organization, any remaining funds would be donated to the
United Way. Funding for the organization comes entirely from
contributions. b. An organization that provides services to persons
who wish to learn English as their second language. The organization
is incorporated and is funded by fees charged to the learners. All
profits are reinvested in the organization to provide further services.
The organization has applied for not-for-profit status with the IRS. c.
An organization classified by the IRS as a not-for-profit organization
that employs individuals with disabilities in a workshop where the
workers make custom stationery out of recycled goods. The
organization receives cash and in-kind contributions as well as the
proceeds from the sale of the stationery. The organization's board is
composed of local businessmen and women. d. An organization that
provides fund-raising services for other not-for-profit organizations.
The organization is funded by fees for its services and was
incorporated by the former chairperson of the local United Way
organization. The organization distributes 40 percent of its profits to
local charities. 2. According to GAAP, all not-for-profit organizations
are required to prepare a. A statement of activities, a statement of
functional expense, and a statement of cash flows using accrual
accounting. b. A statement of activities, a balance sheet, and a
statement of cash flows using accrual accounting. c. A statement of
financial position, a statement of activities, a statement of cash flows

and a statement of functional expenses using accrual accounting. d. A
statement of cash flows, a statement of activities, and a statement of
financial position using either cash basis or accrual basis accounting.
3. Jane's Planes is an organization that provides air transportation for
critically ill children. A friend of Jane's Planes, Richard Bucks
donated a plane to be used over its remaining life solely for
transportation of critically ill children. In addition, he donated a
substantial amount of investments that were to be used strictly to
generate income to help fund the organization's expenses. These
donations would be included in the organization's net assets as: Plane
Investments a. Permanently restricted b. Temporarily restricted c.
Permanently restricted d. Temporarily restricted o Permanently
restricted o Permanently restricted o Temporarily restricted o
Temporarily restricted 4. In a local NFP elementary school's
statement of cash flows, a contribution restricted for use on a new
building project would be reported as: . A financing activity. a. A
capital and related financing activity. b. An investing activity. c. An
operating activity. 5. A wealthy donor promised $1 million to the
local art museum to expand the size of its building, contingent on the
museum obtaining a grant from the State Endowment for the Arts of
at least $500,000. Upon completing a signed agreement with the
donor, the museum should: . Record a debit to Contributions
Receivable—Temporarily Restricted in the amount of $1,000,000. a.
Record a debit to Contributions Receivable—Temporarily Restricted
in the amount of $500,000. b. Not make a journal entry until the
conditions of the agreement have been met. c. Either a or c are
permissible, depending on the museum's established policy. 6.
Orlando Perez, president of a local information systems company,
volunteered his time to help develop software for Best Friends, a local
no-kill pet shelter. The software will allow the organization to track
intake, placement, and statistics of animals in its three locations.
Without Mr. Perez's assistance, Best Friends would have needed to
hire someone to develop this software. Best Friends should record the

value of Mr. Perez's time as: . Program revenue and supporting
services expense. a. Contribution revenue and supporting services
expense. b. Program revenue and program expense. c. Contribution
revenue and a program expense. 7. The Maryville Cultural Center
recently conducted a successful talent show in which local talent
performed for a nominal prize. The talent show is an ongoing major
event and is central to the center's mission. The event raised $4,800 in
gross revenue. Expenses related to the event included $1,000 to rent
an auditorium, $1,200 to advertise the event, $500 for trophies and
other awards for the winner and the runners up, and $100 for printing
and mailing tickets. The center believes there was no monetary value
received by donors (attendees). To report this event in its statement of
activities, the center will report: . Special event revenue of $4,800 and
special event expense of $1,500. a. Special event revenue of $4,800
and fund-raising expense of $1,300. b. Special event revenue of
$2,300 and fund-raising expense of $1,300. c. Both a and b are
correct. 8. Many not-for-profit organizations attempt to classify fund-
raising expenses as program services expenses by making the
activities look educational in nature or advocating for the mission of
the organization. For such expenses to be reported as program
services expenses, they must meet which of the following three
criteria: . Purpose, mission-related, and benefit to the public. a.
Purpose, audience, and content. b. Purpose, expand donor base, and
content. c. Reasonable, improve financial condition, and benefit to the
public. 9. Save Our Beaches, a NFP organization, prepared and
distributed a tri-fold flyer to individuals and families at White Sands
Beach, a popular beach for both residents and tourists. The flyer
provided information about beach pollution and invited the public to
participate in the organization's semi-annual beach cleanup. In
addition, one segment of the flyer solicited contributions to the
organization to help fund its activities. The cost of the flyer and its
distribution would be considered: . A fund-raising cost. a. A program
cost. b. Both a fund-raising and program cost. c. A management and

general expense. 10. A particular organization functions as an
intermediary between donors and other beneficiary organizations. The
intermediary organization must report contribution revenue from
donors if: . The organization has variance power. a. The organization
elects to consistently report such donor gifts as contribution revenue.
b. The beneficiary organization requests a delay in receiving the
contribution from the intermediary organization. c. All of the above
are correct.
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ACC 460 Week 4 Exercise 13-20 Recording Revenue and
Related Expense Transactions
Complete the following questions in Exercise 13-20, p. 570: • 1-5
Click the Assignment Files tab to submit your assignment. Recording
Revenue and Related Expense Transactions. The Shannon
Community Kitchen provides hot meals to homeless and low-income
individuals and families; it is the organization's only program. It is the
policy of the community kitchen to use temporarily restricted
resources for which the purpose has been met before unrestricted
resources. The Kitchen had the following revenue and expense
transactions during the 2017 fiscal year. 1. Unrestricted cash
donations of $25,000 were received. A local philanthropist also
contributed $3,000, which was to be used for the purchase of
Thanksgiving dinner foodstuffs. 2. A local grocery store provided
fresh produce with a fair value of $100. The produce was immediately
used. 3. Volunteers from the local university contributed 100 hours to
preparation and serving of meals. The estimated fair value of their
labor was $750. 4. The Kitchen received a $5,000 federal grant for the

purchase of institutional kitchen appliances. 5. At Thanksgiving time,
the Kitchen spent $4,100 on foodstuffs for preparation of the
Thanksgiving dinner. Required Make all necessary journal entries to
record these transactions.
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ACC 460 Week 4 Team Assignment Not-for-Profit
Financial Reporting Paper
Analyze the financial statements and audit report of a not-for-profit
organization readily and publically available on an active website.
Create a 700- to 1,050-word overview of one not-for-profit
organization in an area of interest to your team and review the
financial statements and audit report for the organization. Address the
following: Evaluate how the selected not-for-profit's financial
statements conform to Financial Accounting Standards Board (FASB)
guidance in Statement No. 117, Financial Statements of Not-for-Profit
Organizations. Compare the organization's reporting of pledges and
contributions to its reporting of exchange transactions. How should
they be recorded and subsequently reported in the financial
statements. Explain the impact if your not-for-profit confers excess
economic benefits on disqualified persons. Click the Assignment Files
tab to submit your assignment.
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ACC 460 Week 5 Ch. 16 Exercise 16-19 Revenue and
Related Transactions

Complete Exercise 16-19, a and b, p. 679. Click the Assignment Files
tab to submit your assignment. Revenue and Related Transactions.
During its current fiscal year, Evanston General Hospital, a not-for-
profit health care organization, had the following revenue-related
transactions (amounts summarized for the year). 1. Services provided
to inpatients and outpatients amounted to $9,600,000, of which
$450,000 was for charity care, $928,000 was paid by uninsured
patients, and $8,222,000 was billed to Medicare, Medicaid, and
insurance companies. 2. Donated pharmaceuticals and medical
supplies valued at $265,000 were received and utilized as general
expenses. 3. Medicare, Medicaid, and third-party payors (insurance
companies) approved and paid $5,365,000 of the $8,222,000 billed by
the hospital during the year (see transaction 1). 4. An unconditional
contribution of $5,000,000 was received in cash from a donor to
construct a new facility for care of Alzheimers patients. The full
amount is expendable for that purpose. No activity occurred on this
project during the current year. 5. A total of $965,000 was received
from the following activities/sources: cafeteria and gift shop sales,
$710,000; medical seminars, 125,000; unrestricted transfers from the
Evanston General Hospital Foundation, $75,000; and fees for medical
transcripts, $55,000. 6. Uncollectible accounts totaling $3,250 were
written off. The allowance for uncollectible receivables was increased
by $1,170. Required a. Record the preceding transactions in general
journal form. b. Prepare the unrestricted revenues, gains, and other
support section of Evanston General Hospital's statement of
operations for the current year, following the format in
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ACC 460 Week 5 Question 15-1

Complete Question 15-1, p. 632, in approximately 30 to 90 words.
Click the Assignment Files tab to submit your assignment. Identify
the financial statements that must be prepared by a private college or
university and those that must be prepared by a public college or
university.
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ACC 460 Week 5 Team Key Concept Presentation
Create a slide presentation of 10 to 12 slides. Address the following: •
Examine FASB financial reporting requirements for a private college.
• Apply basics of GAAP pertaining to categorizing restrictions on net
assets. • Evaluate whether the entity is subject to the requirements of
the Single Audit Act and the provisions of Office of Management and
Budget. Click the Assignment Files tab to submit your assignment.
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ACC 460 Week 5 Team Problem 15-17 Private College
Transactions
Complete questions 15-17, a and b. Click the Assignment Files tab to
submit your assignment. Private College Transactions. Steiner
College's statement of financial position for the year ended June 30,
2016, is presented here. Steiner is a private college. The following

transaction information (amounts in thousands) pertains to the year
ended June 30, 2017. 1. During the year charges for tuition and fees
were $244,500; scholarships were $16,300; and tuition waivers for
scholastic achievement were $5,100. After payment was received,
tuition refunds of $11,200 were given. Tuition waivers of $17,300 for
students serving as teaching assistants for instruction were accrued. 2.
The college received unrestricted cash contributions of $2,080,
pledges to be collected in 2018 of $550, and cash contributions to the
endowments of $335. It also collected $820 of Pledges Receivable
that were unrestricted. 3. Collections on Tuition and Fees Receivable
totaled $222,600 4. Net deposits returned to students totaled $10. 5.
Expenses were incurred for: Instruction $86,100 Academic support
23,300 Student services 37,700 Institutional support 28,500 6. Related
to the expenses incurred: prepaid assets of $534 were used, $4,776 of
the expenses were accrued, and the remaining expenses were paid.
Expenses incurred resulted in the release of $7,320 in temporarily
restricted net assets. 7. The ending balance in Accounts Payable and
Accrued Liabilities was $1,935. 8. Investment earnings received for
the period were $3,960, of which $2,070 was temporarily restricted. 9.
Adjusting entries for the period were made to increase Allowance for
Doubtful Accounts by $20, to record depreciation expense of $26,400
(charged 70 percent to instruction and 30 percent to academic
support), to adjust tuition revenue for an increase in unearned revenue
of $10, and to recognize an increase in fair value of investments of
$4,700 ($790 was related to temporarily restricted net assets, $1,610
was related to permanently restricted net assets, the remainder was
related to unrestricted net assets). 10. Nominal accounts were closed.
Required a. Prepare journal entries in good form to record the
foregoing transactions for the year ended June 30, 2017. b. Prepare a
statement of activities for the year ended June 30, 2017.
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ACC 560 Week 5 Library Assignment (2 Papers)

This Tutorial contains 2 Papers Access the University Library.
Research a current article regarding accounting in government. Write
a summary of the article in 350 to 700 words. Apply concepts you've
learned in this course to assessing the content of the article and any
outcomes the article describes. Click the Assignment Files tab to
submit your Microsoft Word® document.
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