ACCTG 128 - Not-for-Profit Accounting

5 Credits

Basics of accounting for not-for-profit organizations; topics include accounting for restricted, partly restricted, and unrestricted assets; accounting for donations and volunteer hours, required financial disclosure, and notes to the not-for-profit financial statements.

Fees

Quarters Typically Offered

Designed to Serve 1. People seeking a career in not-for-profit accounting. 2. People currently employed by not-for-profit entities and seeking a better understanding of the accounting and budgeting process. 3. Accounting majors exploring career opportunities. 4. Citizens seeking a better understanding of not-for-profit financial disclosure.
Active Date 2015-02-09

Grading Basis Decimal Grade
Class Limit 32
Contact Hours: Lecture 55 Lab 0 Field Studies 0 Clinical 0 Independent Studies 0
Total Contact Hours 55
Degree Distributions:
ProfTech Course Yes
Restricted Elective Yes
ProfTech Related Instruction

Computation

Course Outline
A. Fundamental GAAP Accounting and Bookkeeping Concepts
B. Basic Budgeting
C. Accounting for Restricted, Partly Restricted, and Unrestricted Assets
D. Analyzing, Measuring, and Recording Not-For-Profit Transactions
E. Financial Reporting
F. Administrative Expenses vs. Program Expenses
G. Nonprofit Accounting with QuickBooks

Student Learning Outcomes
Analyzing not-for-profit transactions, recognizing when the transaction should be recorded, classifying the transaction, measuring the dollar amount, recording the transaction in the electronic (QuickBooks) or manual accounting system using journal entries, and understanding the impact on the not-for-profit accounting equation after the transaction has been recorded.

Summarizing accounting data to general ledgers (or not-for-profit chart of accounts), trial balances and work sheets, financial statements, annual reports, regulatory agency reports, or management reports.

Communicating through written or oral reports, statements, images, data, and other forms of accounting information to those who have an interest (management, donors, regulatory agencies, etc.) in the not-for-profit entity.

Analyzing and interpreting not-for-profit transactions, financial data, and notes to make decisions about the allocation of resources and to assess the implications and consequences of program effectiveness.

Using accounting information and other information to make decisions (for example, short term budget and long range business plan or financial analysis) about future operations.

Using accounting information as feedback to assess prior decisions by comparing those decisions to actual results and determining the impact of differences.

Performing duties individually or in teams in accordance with accepted accounting rules and regulations, laws, and ethical standards.