Not-For-Profit Accounting and Issues
Curriculum guideline
Lecture : 4 hours per week.
OR
Lecture/Seminar: 2 hours lecture, 2 hours seminar
OR
Hybrid: 4 hours in-class biweekly - 2 hours lecture, 2 hours seminar
4 hours on-line biweekly
In-class and/or on-line lectures and group discissions.
1. Introduction to not-for-profit organizations
2. Governance and oversight
3. Financial statements concepts
4. Fund accounting
5. Deferral method, restricted funds and endowments
6. Registered charities
7. Not-for-profit and public sector accounting
1. Explain the basic process of setting up a not-for-proft organization and obtaining the appropriate governmental approval.
2. Describe the basics of charitable and not-for-profit governance.
3. Analyze the major financial reporting issues in not-for-profit organizations.
4. Explain the basics of accounting for and reporting contributions under the restricted fund and deferred contribution methods.
5. Demonstrate understanding of the purposes and accounting for endowments.
6. Analyze the approaches to measuring and valuing outputs.
7. Compare and contrast the performance measurements of for-profit organizations to not-for-profit organizations.
8. Describe the objectives of public sector financial statements.
9. Use the CPA Canada Handbook applicable to the public sector.
| Quizzes and/or Assignments and/or Project | 30% |
| Midterm Examination | 30% |
| Final Examination | 40% |
| Total | 100% |
Students must write both the midterm examination and the final examiniation to obtain credit for the course.
To pass this course, students must obtain a minimum of 50% on invigilated assessments, with the 50% calculated on a weighted average basis.
Invigilated assessments include, in-class quizzes, in-class tests, midterm exam and the final exam.
Textbook(s) and/or materials as approved by the department.