ACCT 567 Governmental and Nonprofit Accounting - DeVry

ACCT 567 Entire Course Week 1 - 8
ACCT 567 Week 1 Homework Exercises: 1-3, 2-3, 2-5
ACCT 567 Week 1 Discussion 1 Standard-Setting Bodies
ACCT 567 Week 1 Discussion 2 Accounting vs Governmental Systems
ACCT 567 Week 2 Case Study I (City of Middleville)
ACCT 567 Week 2 Homework Problems: 3-9, 4-4, 4-6, 4-10
ACCT 567 Week 2 Discussion 1 Adoption of a Budget
ACCT 567 Week 2 Discussion 2 Governmental Accounting Transactions
ACCT 567 Week 3 Homework Problems: 5-3, 5-7, 6-5, 6-8
ACCT 567 Week 3 Quiz (MCQs & Explanatory)
ACCT 567 Week 3 Discussion 1 Capital Funds Purposes
ACCT 567 Week 3 Discussion 2 Purpose of a Debt Service Fund
ACCT 567 Week 4 Homework Problems: 7-3, 7-8
ACCT 567 Week 4 Discussion 1 Accounting Similarities
ACCT 567 Week 4 Discussion 2 Internal Service Funds
ACCT 567 Week 5 Case Study II (City of Shipley Part A, B, C and D)
ACCT 567 Week 5 Homework Case: 8-1 CalPERS
ACCT 567 Week 5 Homework Problems: 8-4, 8-8, 9-4, 9-9, 9-10
ACCT 567 Week 5 Quiz (MCQs & Explanatory)
ACCT 567 Week 5 Discussion 1 Fiduciary Funds
ACCT 567 Week 5 Discussion 2 Financial Reporting
ACCT 567 Week 6 Homework Problem: 12-4, 14-8(a, b, c, d)
ACCT 567 Week 6 Discussion 1 Auditing Differences
ACCT 567 Week 6 Discussion 2 Not-For Profir Organizations
ACCT 567 Week 7 Homework Problems: 16-3, 16-4(a, b),17-6, 17-7
ACCT 567 Week 7 Discussion 1 Colleges and Universities
ACCT 567 Week 7 Discussion 2 Differences in Govt. & Commercial Accounting
ACCT 567 Week 4 Midterm Exam
1. (TCOs A and B) Fiduciary funds are to use which of the following measurement and basis of accounting? (Points : 5)
2. (TCOs A and B) Funds other than the General Fund are required to be considered to be a major fund when (Points : 5)
3. (TCOs A and B) Which of the following is most correct with regard to Management’s Discussion and Analysis? (Points : 5)
4. (TCOs B and C) With regards to budgetary reporting by governmental entities, which of the following is not a true statement? (Points : 5)
5. (TCOs B and C) The proper journal entry to record an encumbrance would include which of the following? (Points : 5)
6. (TCOs B and C)) Capital assets that are used by an enterprise fund should be accounted for in the following fund? (Points : 5)
7. (TCO E) When a government acquires general fixed assets under a capital lease agreement, how should the asset be recorded in the government-wide financial statements? (Points : 5)
8. (TCO E) Which of the following projects would usually be accounted for in a capital projects fund? (Points : 5)
9. (TCO E) Which of the following statements is a true statement regarding the reporting of debt service funds? (Points : 5)
10. (TCO D) Under GASB Statement No. 33, when would a special revenue fund be considered to have satisfied the eligibility requirement of a reimbursement type federal grant? (Points : 5)
11. (TCO E) You are in a staff meeting with the city controller and one of your colleagues was quoted as follows: “Capital projects funds are established by a government to account for all plant or equipment acquired by construction.” Do you agree with this statement? Why or why not? (Points : 30)
12. (TCOs A and B) How are the major funds of a state or local government determined by a governmental entity? (Points : 30)
ACCT 567 Week 8 Final Exam
Page 1
1. (TCO A) On what should the government-wide financial statements report? (Points : 5)
2. (TCO B) According to GASB standards, when should transfers be recognized? (Points : 5)
3. (TCO C) Comparisons of budgeted versus actual revenues and expenditures are a requirement of which of the following situations? (Points : 5)
4. (TCO D) The revenues account of a government entity is debited when (Points : 5)
5. (TCO E) During the year, a wealthy local businessman donated a building to city of Perris. The original cost of the building was $340,000. Accumulated depreciation at the date of the gift amounted to $220,000. The appraised fair market value of the donation at the date of the gift was $525,000 of which $35,000 was the value of the land on which the building was situated. At what amount should the city record this donated property in the governmental activities accounts at the government-wide level? (Points : 5)
6. (TCO E) Which of the following resource inflows would be recorded as a revenue of a debt service fund? (Points : 5)
7. (TCO G) Which of the statements concerning agency funds is a true statement? (Points : 5)
8. (TCO J) Which of the following items are typically reported differently between the governmental fund statements and the governmental activities column of the government-wide statements? (Points : 5)
9. (TCO H) A condition whereby the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions, to prevent or detect and correct misstatements on a timely basis is called a(an) (Points : 5)
10. (TCO H) Under FASB Standards, how would a not-for-profit organization recognize a conditional pledge? (Points : 5)
11. (TCO I) Which of the following items would not affect the amounts reported in the Revenues and Gains section of the statement of activities for a private college or university? (Points : 5)
12. (TCO I) The primary source of revenues for most hospitals are (Points : 5)
Page 2
1. (TCOs D, E, F, and G) Please list the name of the fund(s) in which each of the following transactions or events would be recorded.
2. (TCO F) The garbage collection of the city of Rockwell could be accounted for through the General Fund, a Special Revenue Fund, or an Enterprise Fund. Please identify the circumstances in which each of these fund types might be appropriate. (Points : 40)
3. (TCO I) During the fiscal year of June 2012, Jefferson General Hospital, a not-for-profit healthcare organization, had the following revenue-related transactions. (The amounts are summarized for the entire year.)
4. (TCO E) Enter the template provided in the answer space and record the following transactions in the Capital Projects Fund in the general journal for the following transactions.
5. (TCO F) The following Statement of Cash Receipts and Disbursements was prepared by the bookkeeper of the City of Glass City Museum of Science. The museum is a component unit of the City of Glass City and must be included in the city’s financial statements. It began operations on January 1, 2012 with no liabilities or commitments and only two assets.
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