ACC 460 MASTER Empowering and Inspiring/acc460master.com

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ACC 460 MASTER Empowering and Inspiring/acc460mast
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ACC 460 MASTER Empowering and Inspiring/acc460mast
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ACC 460 Week 1 Case 1-14 Research Case- Comparing
Financial Reporting Objectives FOR MORE CLASSES
VISIT www.acc460master.com Review Ch. 1. Case
1-14, Research Case-GASB. Write a 175- to
350-word response. Compare the financial
reporting needs of the resource providers of
government/not-for-profit organizations to the
financial reporting needs of the resource
providers of for-profit organizations. Click the
Assignment Files tab to submit your Microsoft
Word document. 1-14 Research CaseComparing
Financial Reporting Objectives. GASB Concepts
Statement No. 1, Objectives of Financial
Reporting, states that Accountability is the
cornerstone of all financial reporting in
government. FASB Statements of Financial
Accounting Concepts Statement No. 8, Conceptual
Framework for Financial Reporting, states that
The objective of general purpose financial
reporting is to provide financial information
about the reporting entity that is useful to
existing and potential investors, lenders, and
other creditors in making decisions
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ACC 460 MASTER Empowering and Inspiring/acc460mast
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ACC 460 Week 1 Ex 2-16 Matching Fund Types with
Fund Categories FOR MORE CLASSES VISIT
www.acc460master.com Complete Exercise 2-16,
Matching Fund Types with Fund Categories. Click
the Assignment Files tab to submit your
assignment. 2-16 Matching Fund Types with Fund
Categories. For each of the following fund types,
indicate its fund category by placing either GF
for governmental funds, PF for proprietary
funds, or FF for fiduciary funds in the space
provided before each item. Fund Type ______
Agency fund ______ Permanent fund ______ Debt
service fund ______ Internal service fund ______
Pension (and other employee benefit) trust fund
______ Special revenue fund ______ Enterprise
fund ______ General Fund ______ Investment trust
fund ______ Capital projects fund ______
Private-purpose trust fund
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ACC 460 MASTER Empowering and Inspiring/acc460mast
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ACC 460 Week 1 Ex 3-22 Recording General Fund
Operating Budget and Operating Transactions FOR
MORE CLASSES VISIT www.acc460master.com Complete
Exercise 3-22, Recording General Fund Operating
Budget and Operating Transactions (Requirements a
and b). Click the Assignment Files tab to submit
your assignment. 3-22 Recording General Fund
Operating Budget and Operating Transactions. The
Town of Bedford Falls approved a General Fund
operating budget for the fiscal year ending June
30, 2017. The budget provides for estimated
revenues of 2,700,000 as follows property
taxes, 1,900,000 licenses and permits,
350,000 fines and forfeits, 250,000 and
intergovernmental (state grants), 200,000. The
budget approved appropriations of 2,650,000 as
follows General Government, 500,000 Public
Safety, 1,600,000 Public Works, 350,000
Culture and Recreation, 150,000 and
Miscellaneous, 50,000. Required Prepare the
journal entry (or entries), including subsidiary
ledger entries, to record the Town of Bedford
Falls's General Fund operating budget on July 1,
2016, the beginning of the Town's 2017 fiscal
year.
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ACC 460 Week 2 Chapter 8-1, 8-2, 8-3 Question
Assignment FOR MORE CLASSES VISIT
www.acc460master.com Complete the following
questions in Ch. 8 in in 90 to 175 words each
8-1 8-2 8-3 on p. 339 Click the Assignment
Files tab to submit your assignment. 8-1. Explain
the distinction(s) between agency funds and trust
funds. What financial statements are prepared for
each? 8-2. Identify the different types of trust
funds and explain the purpose of each type. 8-3.
Describe the basic activities conducted by a tax
agency fund. What are some of the issues that
make tax agency fund accounting complex?
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ACC 460 MASTER Empowering and Inspiring/acc460mast
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ACC 460 Week 2 Exercise 4-15 Examine the CAFR FOR
MORE CLASSES VISIT www.acc460master.com Complete
the following in Exercise 4-15 a. (1) b. (1)
c. (1) Download a copy of the most recent
Comprehensive Annual Financial Report (CAFR) for
a city of your choice. Note many cities with
25,000 or more population provide Internet access
to their CAFRs to answer. Click the Assignment
Files tab to submit your assignment. 4-15 Examine
the CAFR. Utilizing the comprehensive annual
financial report obtained for Exercise 1-16,
follow these instructions. Governmental
Activities, Government-wide Level. Answer the
following questions. (1) Are governmental
activities reported in a separate column from
business-type activities in the two
government-wide financial statements? (2) Are
assets and liabilities reported either in the
relative order of their liquidity or on a
classified basis on the statement of net
position? (
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ACC 460 MASTER Empowering and Inspiring/acc460mast
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ACC 460 Week 2 Exercise 7-16 Multiple Choice
Assignment FOR MORE CLASSES VISIT
www.acc460master.com Complete the following
multiple choice questions in Exercise 7-16, p.
294 1-10 Click the Assignment Files tab to
submit your assignment. Multiple Choice. Choose
the best answer. 1. Within the government-wide
financial statements, the column for
Business-type Activities will generally include
a. Internal service funds only. b. Enterprise
funds only. c. All internal service fund and
enterprise fund transactions added together and
accounted for on the accrual basis of accounting.
d. All enterprise fund transactions and only the
internal service fund transactions undertaken
with governmental funds on the accrual basis of
accounting. 2. Which of the following would most
likely be accounted for in an internal service
fund? a. The city pool. b. The city's
investments, which are pooled with the county's
and the school district's investments. c. An
asphalt plant used to supply the asphalt needed
to resurface the city's streets. d. Proceeds from
an endowment that are used to maintain the city's
library.
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ACC 460 MASTER Empowering and Inspiring/acc460mast
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ACC 460 Week 2 Team Simulation Assignment FOR
MORE CLASSES VISIT www.acc460master.com Access
the McGraw-Hill Connect simulation. Each team
member must complete the simulation activity.
This week you will complete Ch. 1, 2, and 3,
which can be found in the Connect Guide. Discuss,
as a team, your experiences and key concepts
learned. Each team member will receive points, at
the instructor's discretion, for completing the
simulation and contributing to the discussion
Complete the City of Smithville problems using
the Connect Guide Chapter 1 Introducing the
(Short Version) of the City of Smithville
Cumulative Problem. Chapter 2 Opening the
Books. Chapter 3 Recording the Annual Budget.
Submit a PDF version of the post-closing trial
balance for 2016, the pre-closing subsidiary
ledgers, and pre-closing General Fund trial
balance for 2017. Click the Assignment Files tab
to submit your assignment.
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ACC 460 MASTER Empowering and Inspiring/acc460mast
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ACC 460 Week 3 Chapter 9 Exercise 9-15 Examine
the CAFR FOR MORE CLASSES VISIT
www.acc460master.com Utilize the CAFR obtained
for 4-15 in Week 2. Complete the following in
Exercise 9-15 A B (1) C on p. 397 Click
the Assignment Files tab to submit your
assignment. Examine the CAFR. Utilizing the CAFR
obtained for Exercise 1-16 and your answers to
the questions asked in Exercise 1-16 and the
corresponding exercises in Chapters 2 through 8,
comment on the following a. Analysis of
Introductory Section. Does the report contain all
of the introductory material recommended by the
GASB? Is the introductory material presented in
such a manner that it communicates significant
information effectivelydo you understand what
the government is telling you? On the basis of
your study of the entire report, do you think the
introductory material presents the information
fairly? Comment on any information in the
introductory section you feel is unnecessary, and
explain why. b. Analysis of Financial Statements.
1. Do the statements, notes, and schedules in the
financial section present the information
required by the GASB?
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ACC 460 Week 3 Chapter 10 Exercise 10-20,
Comparative Ratios FOR MORE CLASSES VISIT
www.acc460master.com Complete the following in
Exercise 10-20 a and b, p. 436 Limit the
number of financial performance measures to three
for the City of Arborland. Click the Assignment
Files tab to submit your assignment. Comparative
Ratios. The government-wide financial statements
for the City of Arborland for a three-year period
are presented on the following pages.
Additional information follows o Population
Year 2017 30,420, Year 2016 28,291, Year 2015
26,374. o Debt limit remained at 20,000,000 for
each of the three years. Net cash from operations
is generally 80 percent of total revenues each
year. Required a. Which of the financial
performance measures in Illustration 10-4 can be
calculated for the City of Arborland based on the
information that is provided? b. Calculate those
ratios identified in part a for FY 2017.
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ACC 460 MASTER Empowering and Inspiring/acc460mast
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ACC 460 Week 3 Exercise 12-15, Multiple Choice
Assignment FOR MORE CLASSES VISIT
www.acc460master.com Complete the multiple
choice questions in Exercise 12-15, p. 510
1-10 Click the Assignment Files tab to submit
your assignment. Multiple Choice. Choose the best
answer. 1. Budgets of government entities a. Are
integrated with the financial accounting system.
b. Enable governments to demonstrate compliance
with laws and to communicate performance
effectiveness. c. Are adopted by governments
after required public hearings. d. All of the
above. 2. Which of the following statements
regarding budgets of not-for-profit organizations
is true? a. Not-for-profit organization budgets
are legal documents reflecting plans for spending
resources. b. A not-for-profit entity may choose
to prepare a budget to demonstrate accountability
to its resource providers, such as donors and
grantors. c. The budgeting approaches used for
governments generally cannot be used by
not-for-profit entities. d. All of the above
statements are true. 3. Which of the following
steps would not usually be part of the budgeting
process?
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ACC 460 MASTER Empowering and Inspiring/acc460mast
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ACC 460 Week 3 Team Simulation Assignment FOR
MORE CLASSES VISIT www.acc460master.com Access
the McGraw-Hill Connect simulation. Each team
member must complete the simulation activity.
This week you will complete Ch. 4, which can be
found in the Connect Guide. Discuss, as a team,
your experiences and key concepts learned. Each
team member will receive points, at the
instructor's discretion, for completing the
simulation and contributing to the discussion
Complete the City of Smithville problems using
the Connect Guide Chapter 4 Recording
Operating Transactions Affecting the General Fund
and Governmental Activities at the
Government-wide Level. Submit a PDF version of
the post-closing trial balance for 2016, the
pre-closing subsidiary ledgers, and pre-closing
General Fund trial balance for 2017. Click the
Assignment Files tab to submit your assignment.
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ACC 460 MASTER Empowering and Inspiring/acc460mast
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ACC 460 Week 4 Chapter 14-1, 14-4 FOR MORE
CLASSES VISIT www.acc460master.com Complete
questions 14-1 and 14-4 in approximately 30 to 90
words each. Click the Assignment Files tab to
submit your assignment. 14-1 Identify which
level(s) of government regulate(s) NFP
organizations and identify the source of
authority. 14-4 What are the distinguishing
characteristics between a public charity and a
private foundation? What is a public support test
and how does it relate to public charities and
private foundations?
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ACC 460 MASTER Empowering and Inspiring/acc460mast
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ACC 460 Week 4 Exercise 13-14, Multiple Choice
Assignment FOR MORE CLASSES VISIT
www.acc460master.com Complete the multiple
choice questions in Exercise 13-14, p. 563
1-10 Click the Assignment Files tab to submit
your assignment. Multiple Choice. Choose the best
answer. 1. Which of the following organizations
would be considered a nongovernmental
not-for-profit organization? a. An organization
that provides shelter for men who have been
victims of domestic violence and has been
designated as a not-for-profit organization by
the IRS. The board of trustees is composed of
county commissioners, but in the case of the
dissolution of the organization, any remaining
funds would be donated to the United Way. Funding
for the organization comes entirely from
contributions. b. An organization that provides
services to persons who wish to learn English as
their second language. The organization is
incorporated and is funded by fees charged to the
learners.
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ACC 460 MASTER Empowering and Inspiring/acc460mast
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ACC 460 Week 4 Exercise 13-20 Recording Revenue
and Related Expense Transactions FOR MORE CLASSES
VISIT www.acc460master.com Complete the
following questions in Exercise 13-20, p. 570
1-5 Click the Assignment Files tab to submit your
assignment. Recording Revenue and Related Expense
Transactions. The Shannon Community Kitchen
provides hot meals to homeless and low-income
individuals and families it is the
organization's only program. It is the policy of
the community kitchen to use temporarily
restricted resources for which the purpose has
been met before unrestricted resources. The
Kitchen had the following revenue and expense
transactions during the 2017 fiscal year. 1.
Unrestricted cash donations of 25,000 were
received. A local philanthropist also contributed
3,000, which was to be used for the purchase of
Thanksgiving dinner foodstuffs. 2. A local
grocery store provided fresh produce with a fair
value of 100. The produce was immediately used.
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ACC 460 MASTER Empowering and Inspiring/acc460mast
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ACC 460 Week 4 Team Assignment Not-for-Profit
Financial Reporting Paper FOR MORE CLASSES VISIT
www.acc460master.com Analyze the financial
statements and audit report of a not-for-profit
organization readily and publically available on
an active website. Create a 700- to 1,050-word
overview of one not-for-profit organization in an
area of interest to your team and review the
financial statements and audit report for the
organization. Address the following Evaluate how
the selected not-for-profit's financial
statements conform to Financial Accounting
Standards Board (FASB) guidance in Statement No.
117, Financial Statements of Not-for-Profit
Organizations. Compare the organization's
reporting of pledges and contributions to its
reporting of exchange transactions. How should
they be recorded and subsequently reported in the
financial statements. Explain the impact if your
not-for-profit confers excess economic benefits
on disqualified persons. Click the Assignment
Files tab to submit your assignment.
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ACC 460 MASTER Empowering and Inspiring/acc460mast
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ACC 460 Week 5 Ch. 16 Exercise 16-19 Revenue and
Related Transactions FOR MORE CLASSES VISIT
www.acc460master.com Complete Exercise 16-19, a
and b, p. 679. Click the Assignment Files tab to
submit your assignment. Revenue and Related
Transactions. During its current fiscal year,
Evanston General Hospital, a not-for-profit
health care organization, had the following
revenue-related transactions (amounts summarized
for the year). 1. Services provided to inpatients
and outpatients amounted to 9,600,000, of which
450,000 was for charity care, 928,000 was paid
by uninsured patients, and 8,222,000 was billed
to Medicare, Medicaid, and insurance companies.
2. Donated pharmaceuticals and medical supplies
valued at 265,000 were received and utilized as
general expenses. 3. Medicare, Medicaid, and
third-party payors (insurance companies) approved
and paid 5,365,000 of the 8,222,000 billed by
the hospital during the year (see transaction 1
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ACC 460 MASTER Empowering and Inspiring/acc460mast
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ACC 460 Week 5 Question 15-1 FOR MORE CLASSES
VISIT www.acc460master.com Complete Question
15-1, p. 632, in approximately 30 to 90 words.
Click the Assignment Files tab to submit your
assignment. Identify the financial statements
that must be prepared by a private college or
university and those that must be prepared by a
public college or university.
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ACC 460 MASTER Empowering and Inspiring/acc460mast
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ACC 460 Week 5 Team Key Concept Presentation FOR
MORE CLASSES VISIT www.acc460master.com Create a
slide presentation of 10 to 12 slides. Address
the following Examine FASB financial reporting
requirements for a private college. Apply
basics of GAAP pertaining to categorizing
restrictions on net assets. Evaluate whether
the entity is subject to the requirements of the
Single Audit Act and the provisions of Office of
Management and Budget. Click the Assignment Files
tab to submit your assignment.
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ACC 460 MASTER Empowering and Inspiring/acc460mast
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ACC 460 Week 5 Team Problem 15-17 Private College
Transactions FOR MORE CLASSES VISIT
www.acc460master.com Complete questions 15-17, a
and b. Click the Assignment Files tab to submit
your assignment. Private College Transactions.
Steiner College's statement of financial position
for the year ended June 30, 2016, is presented
here. Steiner is a private college. The following
transaction information (amounts in thousands)
pertains to the year ended June 30, 2017. 1.
During the year charges for tuition and fees were
244,500 scholarships were 16,300 and tuition
waivers for scholastic achievement were 5,100.
After payment was received, tuition refunds of
11,200 were given. Tuition waivers of 17,300
for students serving as teaching assistants for
instruction were accrued. 2. The college received
unrestricted cash contributions of 2,080,
pledges to be collected in 2018 of 550, and cash
contributions to the endowments of 335.
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ACC 460 MASTER Empowering and Inspiring/acc460mast
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ACC 560 Week 5 Library Assignment (2 Papers) FOR
MORE CLASSES VISIT www.acc460master.com This
Tutorial contains 2 Papers Access the University
Library. Research a current article regarding
accounting in government. Write a summary of the
article in 350 to 700 words. Apply concepts
you've learned in this course to assessing the
content of the article and any outcomes the
article describes. Click the Assignment Files tab
to submit your Microsoft Word document.
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