Curriculum Guideline

ACAF - Not-For-Profit Accounting and Issues

Effective Date:
Course
Discontinued
No
Course Code
ACCT 4180
Descriptive
ACAF - Not-For-Profit Accounting and Issues
Department
Accounting
Faculty
Commerce & Business Administration
Credits
3.00
Start Date
End Term
201930
PLAR
No
Semester Length
15 weeks x 4 hours per week = 60 hours
Max Class Size
30
Contact Hours
Lecture : 4 hours per week.
Method Of Instruction
Lecture
Online
Hybrid
Methods Of Instruction

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  30%
Midterm Examination  30%
Final Examination  40%
   Total 100%

 

 

 

 

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(s) and the final exam.

Textbook Materials

All reading and reference materials are provided within the course. A significant number of readings are linked to outside resources. Materials provided by CPA-Canada with their permission.

Prerequisites

ACCT 2320 with a grade of "C" or better AND ACCT 3310 with a grade of "C" or better AND ACCT 1222 with a grade of "C" or better 

OR

ACCT 2320 with a grade of "C" or better AND ACCT 3310 with a grade of "C" or better and currently active in the PDD Accounting, PDD Accounting Studies or PBD Accounting program.

Corequisites

Courses listed here must be completed either prior to or simultaneously with this course:

  • No corequisite courses
Equivalencies

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

  • No equivalency courses