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

Outline information
Semester
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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.

Academic Integrity
Seneca upholds a learning community that values academic integrity, honesty, fairness, trust, respect, responsibility and courage. These values enhance Seneca's commitment to deliver high-quality education and teaching excellence, while supporting a positive learning environment. Ensure that you are aware of Seneca's Academic Integrity Policy which can be found at: http://www.senecacollege.ca/about/policies/academic-integrity-policy.html Review section 2 of the policy for details regarding approaches to supporting integrity. Section 2.3 and Appendix B of the policy describe various sanctions that can be applied, if there is suspected academic misconduct (e.g., contract cheating, cheating, falsification, impersonation or plagiarism).

Please visit the Academic Integrity website http://open2.senecac.on.ca/sites/academic-integrity/for-students to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

Discrimination/Harassment
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecacollege.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.