ACC 548 Entire Course

For more course tutorials visit

www.acc548.com

Please check All Included Assignments Below ACC 548 Week 1

Comprehensive Annual Financial Report Briefing ACC 548 Week 1
Assignment Ex 1-1, Ex 1-3, Ex 2-2, Ex 2-5, Ex 3-1, Ex 3-5 ACC 548
Week 2 Government Funds ACC 548 Week 2 Assignment E4-3, E5-6,
E6-4, E6-7 ACC 548 Week 2 Sources of Revenue ACC 548 Week 3
Proprietary Funds ACC 548 Week 3 Assignment E7-3, E8-4 ACC 548
Week 4 Pensions ACC 548 Week 4 Permanent and Fiduciary Funds
ACC 548 Week 4 DQs ACC 548 Week 5 Not-for-Profit Organizations
Sources of Funding and Primary Expenditures ACC 548 Week 5
Accounting for Not-for-Profit Organizations Presentation ACC 548
Week 6 Federal Budgeting and Accounting (Paper and PPT)
------------------------------------------------------------------------

ACC 548 Week 1 Assignment Ex 1-1, Ex 1-3, Ex 2-2,

Ex 2-5, Ex 3-1, Ex 3-5

For more course tutorials visit

www.acc548.com

EX 1-1 2. If businesses are governed by the marketplace, governments

are governed by 4. In governments, in contrast to businesses, 6. The
number of governmental units in the United States is approximately 8.
Interperiod equity refers to a condition whereby 10. Which of the
following is not one of the FASB's financial reporting objectives? EX.
13 Internet-based exercise 1. Visit the GASB website
(www.gasb.org) a) What is the GASB? b)What is the mission of
GASB? Based on GASB's White Paper, Why Governmental Accounting
and Financial Reporting Is and Should Be Different, describe the key
environmental differences between governments and for-profit business
enterprises 2. Visit the GFOA website (www.gfoa.org) a) What is
the GFOA, and what role does it play? EX. 2-2 1. Oak Township issued
the following bonds during the year: The amount of debt to be reported
in the general fund is 3. Assuming that Bravo County receives all of its
revenues from unassigned property taxes, it is most likely to account for
the activities of its police department in its 5. Grove City received the
following resources during the year: The amount that the city should
most likely report as revenues in its special revenue funds is . During the
year, Brian County collects $12 million of property taxes on behalf of
Urton Township. Of this amount it remits $10 million to the township,
expecting to remit the balance shortly after the end of its fiscal year. The
amount of revenue that the county should report is 9. A city receives a
$30 million contribution. The donor stipulates that the money is to be
invested. The principal is to remain intact and the investment proceeds
are to be used to provide scholarships for the children of city employees.
The contribution should be reported as revenue of a EX. 2-5 E2-5 page
78 Funds are separate fiscal and accounting entities, each with its own
self-balancing set of accounts. The newly established Society for Ethical
Teachings, a not-for-profit organization, maintains two fundsa general
fund for operations and a building fund to accumulate resources for a
new building. In its first year, it engaged in the following transactions: 1.
It received cash contributions of $200,000, of which $40,000 were
restricted to the acquisition of the new building. 2. It incurred operating
costs of $130,000, of which it paid $120,000 in cash. 3. It earned $3,000
of interest (the entire amount received in cash) on resources restricted to
the acquisition of the new building. EX. 3-1 Select the best answer. 1.
Appropriation budgets are typically concerned with 2. Which of
the following types of budgets would be most likely to include a line
item purchase of supplies? 3. Per GASB Statement No. 34, a budget-
to-actual comparison must include columns for the actual results and 4.
Apportionments are made during which phase of the budget cycle?
5. In adopting and recording the budget a government should 6. In
closing budgetary and expenditure accounts at year-end a government
should 7. The prime function of budgetary entries is to 8. A
government should debit an expenditure account upon 9. If a
government records the budget, and actual revenues exceed budgeted
revenues, what would be the impact on the year-end financial
statements? 10. A cash basis budget relative to a modified accrual
basis budget EX. 3-5 Both budgeted and actual revenues and
expenditures are closed to the fund balance. The budgeted and actual
revenues and expenditures of Seaside Township for a recent year (in
millions) were as presented in the schedule that follows. 1. Prepare
journal entries to record the budget. 2. Prepare journal entries to record
the actual revenues and expenditures. Assume all transactions resulted in
increases or decreases in cash. 3. Prepare journal entries to close the
accounts.
-------------------------------------------------------------------

ACC 548 Week 1 Comprehensive Annual Financial

Report Briefing

For more course tutorials visit

 www.acc548.com

ACC 548 Week 1 Comprehensive Annual Financial Report Briefing

Select a government entity of your choice. It can be a state, county, city,
town, school district, or any other government entity. Preferably select
one in which you have a vested interest, such as where you live, work or
send your kids to school. Obtain the Comprehensive Annual Financial
Report (CAFR) for the entity you selected. You should be able to find
the CAFR on the web site for the government entity. If not, contract the
entity for a copy. Note: this CAFR will be used for many activities
throughout the course. Scenario for this week: You are working as an
accountant for the government entity you selected above. You have
newly elected board members who are businesspeople from the
community. These are highly successful and intelligent business people
who know and appreciate private sector financial accounting. However,
they know very little about government accounting. Prepare a MS
PowerPoint presentation for the new Board members. The presentation
should be between 12 to 15 slides and include the following:
Description of the purpose of government accounting and financial
reporting. Comparison of private sector financial accounting with
accounting for government and not-for-profit organizations An
overview and contrasting of government funds, propriety funds, and
fiduciary funds. Include a list of the different funds within those
categories and a brief explanation as to when and how these funds are
used. Detailed description of government funds and the four types
of government funds. Description of the purpose and elements of
financial reporting, budgeting and encumbrance accounting for
government organizations. Submit your completed Power Point
presentation in the assignment section for the week
-------------------------------------------------------------------

ACC 548 Week 2 Assignment E4-3, E5-6, E6-4, E6-7

For more course tutorials visit

www.acc548.com

Complete the following exercises from Government and Not-for-Profit

Accounting: E4-3 E5-6 E6-4 E6-7 Click the
Assignment Files tab to submit your assignment
-------------------------------------------------------------------

ACC 548 Week 2 Government Funds

For more course tutorials visit

www.acc548.com

ACC 548 Week 2 Government Funds Review the CAFR obtained in

Week One. Review the types of government funds used by the entity.
Prepare a new Power Point presentation for the new Board members.
The presentation should be between 8 to 10 slides and include the
following: A description of the purpose and characteristics of the
general fund and special revenue funds. A description of the
purpose and characteristics of capital projects funds and debt service
funds. A list and description of the funds that your government
entity actually uses, including the dollar amount of each fund.
-------------------------------------------------------------------

ACC 548 Week 2 Sources of Revenue

For more course tutorials visit

www.acc548.com

ACC 548 Week 2 Sources of Revenue Prepare an Excel workbook that

contains a separate spreadsheet for each individual government entity.
The spreadsheets should list the following: The principle sources of
revenues for the general fund The primary expenditures made out of
the general fund of each government entity. In other words, how does
the general fund get and spend its money. Be sure to include dollar
amounts. Brainstorm and discuss the commonalities and the differences
between the sources of revenue and the types and amounts of
expenditures for each entity. Discuss those differences among team
members the reasons for the differences. Prepare a summary spreadsheet
for the workbook that provides a comparative (side-by-side) analysis
between the different entities. Click the Assignment Files tab to submit
the assignment.
-------------------------------------------------------------------

ACC 548 Week 3 Assignment E7-3, E8-4

For more course tutorials visit

www.acc548.com
Complete the following exercises from Government and Not-for-Profit
Organizations: E7-3 E8-4 Click the Assignment Files tab to
submit your assignment. P. 7-3 Which is the proper value to be assigned
to certain donated assets? (This is a question for which answers cannot
be found in either GASB pronouncements or in this text.) A citys road
maintenance department received donations of two types of assets: 1.
From the county in which the city is located it received earthmoving
equipment. The equipment had cost the county $800,000 when it was
acquired five years earlier. Accounted for in a county proprietary fund,
its book value, net of accumulated depreciation at the time of donation,
was $500,000. Its fair market value was $530,000. 2. From the citys
own utility fund (a proprietary fund) it received motor vehicles that had
cost the city $400,000 when acquired three years earlier. At the time of
transfer, the vehicles were recorded on the utilitys books at $180,000,
net of accumulated depreciation. Their fair market value was $225,000.
a. At what value should the city record in its government-wide financial
statements: (1) the earth-moving equipment, and (2) the motor vehicles?
b. Briefly justify your response, commenting on any apparent
inconsistencies in the values assigned to each of the two types of assets.
c. Comment on the significance of the resultant book values for
decisions or assessments to be made by statement users. EX. 8-4
Complete on a separate tab of Excel Both the reported value of long-
term debt and periodic interest charges should be based on unamortized
issue price (plus or minus unamortized premiums or discounts) and
initial yield. The City of Fairfield issued $100 million of 20-year, 6
percent coupon bonds (3 percent per semiannual period) for $89.32
million. The price reflected a yield of 7 percent (3.5 percent period
semiannual period). 1.Prepare entries to reflect how the following would
be reported in the citys government-wide statements: a. The issuance of
the bond b. The first semiannual payment of interest c. The second
semiannual payment of interest 2. Prepare entries to account for the
same transactions in an appropriate governmental fund.
-------------------------------------------------------------------

ACC 548 Week 3 Proprietary Funds

For more course tutorials visit

www.acc548.com

ACC 548 Week 3 Proprietary Funds Review the CAFR obtained in

Week One. Review the types of proprietary funds used by the
government entity. Prepare a new Microsoft PowerPoint presentation
for the new Board members. The presentation should be between 8 to 10
slides and include the following: A description of the purpose,
types, and characteristics of proprietary funds. An explanation of the
differences between enterprise and internal service funds. A list and
description of the proprietary (enterprise and internal service) funds that
your entity actually uses, including the dollar amount of each fund.
-------------------------------------------------------------------

ACC 548 Week 4 DQs

For more course tutorials visit

www.acc548.com
1. How is a private purpose trust fund different from a permanent fund?
2. What typically are the main adjustments relating to capital assets and
long-term obligations required to convert the government funds
statement of revenues and expenditures to the government-wide
statement of activities? 3. How does discrete presentation differ from
blending? When is each appropriate? 4. Suppose that you are the
independent auditor for a local performing arts association (either
government or not-for-profit) that recently received a sizable
endowment. The association's president has asked whether gains, both
realized and unrealized, from the appreciation of endowment
investments should be accounted for as expendable or nonexpendable
resources. What should be the primary factors that determine your
response? How should GASB or FASB pronouncements influence your
recommendation? 5. The Comprehensive Annual Financial Report
(CAFR). We know that the three main sections of the Comprehensive
Annual Financial Report are: the introductory section the
financial section the statistical section What are the main
components of the financial section?
-------------------------------------------------------------------

ACC 548 Week 4 Pensions

For more course tutorials visit

www.acc548.com

ACC 548 Week 4 Pensions Prepare a paper of no more than 1,050 words
that answers the following questions for each state: What type of
pension fund does the state provide to employees How is the
pension fund actually funded who pays for it Is the pension fully
funded What pay and benefits are provided by the pension How
much is currently in the pension fund What is the current pension
liability for the state Compare the different pension funds provided by
the team members and rank order the funds in terms of the best and
worse pensions among the group. Include this comparison in the paper
above.
-------------------------------------------------------------------

ACC 548 Week 4 Permanent and Fiduciary Funds

For more course tutorials visit

www.acc548.com

ACC 548 Week 4 Permanent and Fiduciary Funds Review the CAFR
obtained in Week One. Review the types of fiduciary funds used by the
government entity. Prepare a new Power Point presentation for the new
Board members. The presentation should be between 8 to 10 slides and
include the following: A description of the purpose, types, and
characteristics of fiduciary funds. A description of the purpose of a
permanent fund and how it differs from fiduciary funds. A list and
description of the fiduciary (trusts and agency) funds that your entity
actually uses, including the dollar amount of each fund. An
explanation of the purpose and components of the Comprehensive
Annual Financial Report (CAFR)
-------------------------------------------------------------------
 ACC 548 Week 5 Accounting for Not-for-Profit
Organizations Presentation

For more course tutorials visit

www.acc548.com

ACC 548 Week 5 Accounting for Not-for-Profit Organizations Prepare a

Power Point presentation of between 12 to 15 slides accomplishing the
following: Describe the purposes, characteristics, funding and
accounting for not-for-profit organizations. Differentiate accounting
between private and government not-for-profit organizations.
Describe the purpose, characteristics, funding and accounting for
colleges and universities. Describe the purpose, characteristics,
funding and accounting for hospitals and other health care providers.
Click the Assignment Files tab to submit your assignment.
-------------------------------------------------------------------

ACC 548 Week 5 Not-for-Profit Organizations

Sources of Funding and Primary Expenditures

For more course tutorials visit

www.acc548.com

ACC 548 Week 5 Not-for-Profit Organizations Sources of Funding and

Primary Expenditures Write a paper of no more than 1,050 words that
answers the following questions for each site: What is the mission
and purpose of each organization What are the primary sources of
funding for each What are the primary expenditures for each How
successful is each entity in terms of meeting its mission and staying
fiscally solvent Prepare an Excel workbook that contains a separate
spreadsheet for each individual not-for-profit organization. The
spreadsheets should list the following: The principle sources of
revenues for the organizations The primary expenditures made by
each. In other words, how do the organizations get and spend their
money. Be sure to include dollar amounts. Brainstorm and discuss the
commonalities and the differences between the sources of revenue and
the types and amounts of expenditures for each entity. Discuss those
differences among team members the reasons for the differences. Click
the Assignment Files tab to submit your assignment.
-------------------------------------------------------------------

ACC 548 Week 6 Federal Budgeting and Accounting

(Paper and PPT)

For more course tutorials visit

www.acc548.com

ACC 548 Week 6 Federal Budgeting and Accounting Review the federal
budget and the budget tables for the U.S. federal government. Prepare an
8- to 10-slide Microsoft PowerPoint presentation focusing on the
federal budget for fiscal year (FY) 2015. Answer the following : What
are the total revenues and expenditures projected for FY15 (Table S-1)
Is the FY15 budget projecting a surplus or a deficit in spending,
and by how much (Table S-1) What are the key sources of revenue
for the federal government (Table S-5) What are the primary
expenditures for the federal government? (Table S-5) What is the
current national debt? How much is the national debt per citizen
and per taxpayer. Is this a problem? Why? Why not? How can the
Federal government reduce the national debt? Keep your ideas realistic.
Prepare a paper of no more than 700 words that addresses the following
topics : What roles do accountants play in managing government and
not-for-profit organizations? How are government and not-for-profit
organizations audited? Be sure to include the different types of audits.
Describe the Single-Audit Act and how it impacts government
financial reporting and accounting
-------------------------------------------------------------------