Not-For-Profit Accounting and Issues

Curriculum guideline

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Course
ACCT 4180
Discontinued
Yes
Course code
ACCT 4180
Descriptive
Not-For-Profit Accounting and Issues
Department
Accounting
Faculty
Commerce & Business Administration
Credits
3.00
Start date
End term
202210
PLAR
No
Semester length
15 weeks
Max class size
30
Contact hours

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

Method(s) of instruction
Lecture
Seminar
Hybrid
Learning activities

In-class and/or on-line lectures and group discissions.

Course description
Not-For-Profit Accounting is a foundation course in accounting for not-for-profit sector. It will emphasize the application of accounting concepts used in the not-for-profit sector. It also includes an overview of the government (public sector) financial reporting standards. The purpose of the course is to produce a mid-level accountant with skills in the not-for-profit sector able to function in environments of low-level complexity. This course will focus on applied knowledge, using not-for-profit scenarios that require the student to demonstrate the application of technical knowledge.
Course content

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

Learning outcomes

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.

Means of assessment
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.

Students may conduct research as part of their coursework in this class. Instructors for the course are responsible for ensuring that student research projects comply with College policies on ethical conduct for research involving humans, which can require obtaining Informed Consent from participants and getting the approval of the Douglas College Research Ethics Board prior to conducting the research.

Textbook materials

Textbook(s) and/or materials as approved by the department.

Prerequisites

ACCT 2320 with a grade of "C" or better

AND

(ACCT 3310 OR ACCT 3410 with a grade of "C" or better)

AND

(ACCT 1222 with a grade of "C" or better OR currently active in the PDD Accounting, PDD Accounting Studies or PBD Accounting program.)

 

Equivalencies

Courses listed here are equivalent to this course and cannot be taken for further credit:

  • No equivalency courses