ACA260 - Not-for-Profit and Related Topics - ENP

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Last revision date Mar 18, 2019 8:40:40 AM
Last review date Mar 18, 2019 8:40:51 AM

Subject Title
Not-for-Profit and Related Topics - ENP

Subject Description
This course emphasizes the application of accounting concepts encountered in the not-for-profit and charities sector. 
The purpose of this course is to produce a mid-level accountant with skills in the not-for-profit sector able to function in environments of low- to mid-level complexity with low levels of uncertainty.  The course will focus on applied knowledge, using authentic not-for-profit scenarios that require students to demonstrate the application of technical knowledge.  Accounting software is integrated throughout the course to help students develop the skills needed in the marketplace.  In addition, this course will help students develop other skills such as communication, managing and analyzing information, solving routine problems and effectively promoting personal management and teamwork.  This course covers the following topics: how not-for-profit organizations (NFPOs) are created; the concepts of good governance and internal controls with an NFPO; differences in accounting between NFPOs and for-profit entities; fund accounting and the use of the restricted fund method; the deferral method of accounting for contributions; the characteristics of registered charities; a brief overview of various types of government organizations, and Accounting Software Application.

Credit Status
One Credit

The minimum grade to pass this course is C (60%) and the minimum program GPA to graduate from the Advanced Accounting & Finance program is 60% or C.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

  1. Explain the basic process for setting up a not-for-profit organization (NFPO) and obtaining charitable status;
  2. Describe the basics of charitable governance;
  3. Explain the major financial reporting issues in NFPOs;
  4. Explain the basics of accounting for and reporting contributions under the restricted fund and deferred contribution methods;
  5. Demonstrate an understanding of the purpose and accounting for endowments;
  6. Explain the approaches to measuring and valuing outputs;
  7. Compare and contrast performance measurement in NFPOs and profit-oriented organizations;
  8. Demonstrate an understanding of the public sector accounting environment including standards.

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