ACCT 567 Course Discussions

$28.00

ACCT 567 Course Discussions
non-profit entities such as governmental and not-for-profit organizations…

 

SKU: ACCT 567 Discussions Week 1-7 Categories: , Tags: , , ,

Description

ACCT 567 Course Discussions

ACCT 567 Course Discussions

Week 1-7 All Students Posts 553 Pages

Week 1 All Student Posts 90 Pages

https://www.hiqualitytutorials.com/product/acct567-discussions-week-1/

Standard Setting Bodies – 55 Pages

https://www.hiqualitytutorials.com/product/acct567-standard-setting-bodies-discussions/

Discuss some of the major differences between GASB and FASB when it comes to setting accounting standards. Can you identify these accounting standards setting bodies and the organizations for which they set accounting standards? Do a little research on the internet to find out where the organizations are located, how many members are on the board and whether they are elected or who appoints them. How long have they been in existence and what is their history? How were standards set before the boards were established? What process is involved in setting a new standard and what are some current areas of research for the boards?…

Accounting Governmental System – 35 Pages

https://www.hiqualitytutorials.com/product/acct567-accounting-governmental-system/

Why are there major differences between governmental accounting systems vs. business accounting systems? If generally accepted accounting principles are good enough for business organizations then why can’t we just apply them to non-profit entities such as governmental and not-for-profit organizations? What are some characteristics that distinguish non-profit entities from business organizations? How do the objectives of financial reporting for non-profit entities differ from financial reporting for business entities?…

Discussions Week 2 All Students Posts 77 Pages

https://www.hiqualitytutorials.com/product/acct567-discussions-week-2/

Adoption of a Budget – 41 Pages

https://www.hiqualitytutorials.com/product/acct567-adoption-budget-discussions/

How does the adoption of a budget in a governmental entity differ from the adoption of a budget by a commercial enterprise? Both businesses and governments develop budgets, however there are some unique legal aspects related to a government budget. How do government budgets relate to the law and to authorization to spend public funds? Encumbrances are also related to governmental budgeting. What is an encumbrance and what purpose do encumbrances serve?…

Governmental Accounting Transactions – 36 Pages

https://www.hiqualitytutorials.com/product/acct567-governmental-accounting-transactions/

 Please provide an explanation as to why accounting transactions for governmental activities as the governmental-wide level tend to be reported differently than transactions for the General Fund? Could you cite some examples? What is the difference between an expenditure and an expense and why do governmental funds records expenditures rather than expenses? When is an expenditure recognized in the accounting records versus when an expense is recognized?…

Discussions Week 3 All Students Posts 82 Pages

https://www.hiqualitytutorials.com/product/acct567-discussions-week-3/

Capital Funds Purposes – 40 Pages

https://www.hiqualitytutorials.com/product/acct567-capital-funds-purposes/

When should a capital projects fund be used by a governmental entity? Is it mandatory that a governmental entity use a capital project fund for GAAP purposes?  When should a capital projects fund be used by a governmental entity? Is it mandatory that a governmental entity use a capital project fund for GAAP purposes? Let’s also list some advantages of using a capital projects fund. What benefits does the use of a capital projects fund provide?…

Purpose of a Debt Service Fund – 42 Pages

https://www.hiqualitytutorials.com/product/acct567-purpose-debt-service/

When does GAAP require the use of a debt service fund? Are there instances when a governmental entity is not required to use a debt service fund? Let’s address the introductory questions in this discussion also: When does GAAP require the use of a debt service fund? Are there instances when a governmental entity is not required to use a debt service fund? Why don’t business type organizations use a debt service fund?…

Week 4 All Students Posts 100 Pages

https://www.hiqualitytutorials.com/product/acct567-discussions-week-4/

Accounting Similarities – 52 Pages

https://www.hiqualitytutorials.com/product/acct-567-accounting-similarities/

How would you compare the accounting for enterprise funds with that of (a) businesses and (b) governmental funds?  The opening question asks us to compare the accounting for enterprise funds with the accounting for business organizations. One of the differences relates to the fact that a business has owner’s equity and a government entity does not. Let’s begin by identifying the accounts in a proprietary fund that would relate to the equity in a business. How does this section of the statement of net assets differ from the equity section of a business balance sheet?…

Internal Service Funds – 48 Pages

https://www.hiqualitytutorials.com/product/acct567-internal-service-funds-discussions/

What types of activities are recorded under the internal services account? Please provide examples. Is the government required to account for activities in the internal service fund or in another fund? What types of activities are recorded under the internal services account? Can you provide some examples of internal service funds and the types of goods or services that they would provide. Is the government required to account for activities in the internal service fund or in another fund?…

Discussions Week 5 All Students Posts 71 Pages

https://www.hiqualitytutorials.com/product/acct567-discussions-week-5/

Fiduciary Funds – 35 Pages

https://www.hiqualitytutorials.com/product/acct567-fiduciary-funds-discussions/

Discuss various situations in which a government has fiduciary responsibility but does not report them in fiduciary funds.  Fiduciary relationships are very common in business and law. Let’s begin by defining a fiduciary and a fiduciary relationship. Can you give some examples of each? How does a trust fund differ from an agency fund? Why does an agency fund not recognize revenues, expenses and equity? What is a tax agency fund and what are some issues that complicate accounting for tax agency funds?…

Financial Reporting – 36 Pages

https://www.hiqualitytutorials.com/product/acct567-financial-reporting-discussions/

What basis of accounting is used to report governmental activities in government-wide financial statements? Can another basis be used? Let’s also look at current events related to pensions. Can you identify some states around the country and some cities in California that are having problems related to public employee pensions? What types of problems are they having and why? What do you think has caused these problems? Class, what are interim reports and why are they important? Can you give some examples of interim reports? What are some considerations when determining whether a component unit should be presented discretely or blended in the financial statements? What are some reasons that the figures in the governmental activities section of the government-wide financial statements would differ from the governmental funds in the fund financial statements? What is OCBOA and why might a government use OCBOA rather than GAAP?…

ACCT 567 Course Discussions

Discussions Week 6 All Students Posts 59 Pages

https://www.hiqualitytutorials.com/product/acct567-discussions-week-6/

Auditing Differences – 28 Pages

https://www.hiqualitytutorials.com/product/acct567-auditing-differences-discussions/

In what significant way do financial audits in government and not-for-profit organizations differ from those carried on in businesses? Which organization establishes GAGAS and what can you tell us about this organization?…

Not-For-Profit Organizations – 31 Pages

https://www.hiqualitytutorials.com/product/acct567-not-for-profit-organizations/

How do not-for-profit organizations differ from government activities in the way the account for business-type activities, such as dining halls, gift shops, and admission fees? What are the three levels of audit to which governments and not-for-profit organizations may be subjected and what are some differences between them?…

Discussions Week 7 All Students Posts 74 Pages

https://www.hiqualitytutorials.com/product/acct567-discussions-week-7/

Colleges and Universities – 38 Pages

https://www.hiqualitytutorials.com/product/acct567-colleges-universities-discussions/

What financial statements must be presented by a government university that engages in only business-type activities? Is there a GASB or FASB requirement that mandates this type of implementation? Which organization(s) develop accounting principles for public and private colleges and universities? What are some of the differences between these two sets of accounting principles?…

Differences in Government and Commercial Accounting – 36 Pages

https://www.hiqualitytutorials.com/product/acct567-differences-government-commercial/

What are some of the key differences between government healthcare accounting and commercial accounting? How do public and private colleges and universities raise most of their revenue? What are endowments, split-interest agreements and annuity agreements?…

ACCT 567 Course Discussions

Keller