UOP ACC 460 Entire Course NEW

UOP ACC 460 Entire Course NEW

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ACC 460 Week 1 Case 1-14 Research Case- Comparing Financial Reporting Objectives

ACC 460 Week 1 Ex 2-16 Matching Fund Types with Fund Categories

ACC 460 Week 1 Ex 3-22 Recording General Fund Operating Budget and Operating Transactions

ACC 460 Week 2 Team Simulation Assignment

ACC 460 Week 2 Exercise 4-15 Examine the CAFR

ACC 460 Week 2 Exercise 7-16 Multiple Choice Assignment

ACC 460 Week 2 Chapter 8-1, 8-2, 8-3 Question Assignment

ACC 460 Week 3 Team Simulation Assignment

ACC 460 Week 3 Chapter 9 Exercise 9-15 Examine the CAFR

ACC 460 Week 3 Chapter 10 Exercise 10-20, Comparative Ratios

ACC 460 Week 3 Exercise 12-15, Multiple Choice Assignment

ACC 460 Week 4 Exercise 13-20 Recording Revenue and Related Expense Transactions

ACC 460 Week 4 Exercise 13-14, Multiple Choice Assignment

ACC 460 Week 4 Chapter 14-1, 14-4 

ACC 460 Week 5 Team Problem 15-17 Private College Transactions

ACC 460 Week 5 Library Assignment

ACC 460 Week 5 Team Key Concept Presentation

ACC 460 Week 5 Question 15-1

ACC 460 Week 5 Ch. 16 Exercise 16-19 Revenue and Related Transactions

UOP ACC 460 Week 3 Exercise 12-15, Multiple Choice Assignment NEW

UOP ACC 460 Week 3 Exercise 12-15, Multiple Choice Assignment NEW

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Complete the multiple choice questions in Exercise 12-15, p. 510:

• 
  
• 1-10

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Multiple Choice. Choose the best answer.

a.     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.

b.    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.

a.     Heads of operating departments prepare budget requests.

b.    The chief executive (mayor or city manager, as appropriate) formally adopts the budget, thus giving it the force of law.

c.      One or more public budget hearings are held.

d.    Budget officer and other central administrators review and make adjustments to departmental requests.

a.     The accounting system should provide the basis for appropriate budgetary control.

b.    Budgetary comparison schedules should be presented as required supplementary information for the General Fund and each major special revenue fund that has a legally adopted budget.

c.      Annual budgets should be adopted by each government.

d.    All of the above.

a.     Can be presented as a schedule within required supplementary information (RSI) or as a statement in the basic financial statements.

b.    Must be a schedule included as part of RSI.

c.      Continues to be a statement included in the basic financial statements.

d.    Is no longer required.

a.     Incremental budgeting.

b.    Zero-based budgeting.

c.      Performance budgeting.

d.    Planning-programming-budgeting.

a.     Customer.

b.    Internal business processes.

c.      Economy and efficiency.

d.    Learning and growth.

a.     Must adhere to GASB SEA guidance.

b.    Must adhere to GASB SEA guidance only if the SEA report is part of the CAFR.

c.      Must adhere to guidance provided by the Association of Government Accountants (AGA) because GASB has not issued standards addressing SEA.

d.    May refer to guidance provided by the GASB, the AGA, or other professional organizations.

a.     Measures that relate the quantity or cost of resources used to units of output.

b.    Measures that relate to the amount of financial and nonfinancial resources used in a program or process.

c.      Measures that relate co

UOP ACC 460 Week 1 Case 1-14 Research Case- Comparing Financial Reporting Objectives NEW

UOP ACC 460 Week 1 Case 1-14 Research Case- Comparing Financial Reporting Objectives NEW

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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 Case—Comparing 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 about providing resources to the entity.” However, the FASB has acknowledged through Statement of Financial Accounting Concepts No. 4, “Objectives of Financial Reporting by Nonbusiness Organizations,” that users of business and not-for-profit entities differ.

Required

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.

UOP ACC 460 Week 1 Ex 2-16 Matching Fund Types with Fund Categories NEW

UOP ACC 460 Week 1 Ex 2-16 Matching Fund Types with Fund Categories NEW

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Complete Exercise 2-16, Matching Fund Types with Fund Categories.

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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

UOP ACC 460 Week 1 Ex 3-22 Recording General Fund Operating Budget and Operating Transactions NEW

UOP ACC 460 Week 1 Ex 3-22 Recording General Fund Operating Budget and Operating Transactions NEW

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Complete Exercise 3-22, Recording General Fund Operating Budget and Operating Transactions (Requirements a and b).

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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.

Prepare journal entries to record the following transactions that occurred during the month of July 2016.

Revenues were collected in cash amounting to $31,000 for licenses and permits and $12,000 for fines and forfeits.

Supplies were ordered by the following functions in early July 2016 at the estimated costs shown:

image

During July 2016, supplies were received at the actual costs shown below and were paid in cash. General Government, Culture and Recreation, and Miscellaneous received all supplies ordered. Public Safety and Public Works received part of the supplies ordered earlier in the month at estimated costs of $10,700 and $5,900, respectively.

image

Page 108Calculate and show in good form the amount of budgeted but unrealized revenues in total and from each source as of July 31, 2016.

Calculate and show in good form the amount of available appropriation in total and for each function as of July 31, 2016.

UOP ACC 460 Week 2 Chapter 8-1, 8-2, 8-3 Question Assignment NEW

UOP ACC 460 Week 2 Chapter 8-1, 8-2, 8-3 Question Assignment NEW

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Complete the following questions in Ch. 8 in in 90 to 175 words each:

8-1

8-2

8-3 on p. 339

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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?

UOP ACC 460 Week 2 Exercise 4-15 Examine the CAFR NEW

UOP ACC 460 Week 2 Exercise 4-15 Examine the CAFR NEW

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Complete the following in Exercise 4-15:

a. (1)

b. (1)

c. (1)

UOP ACC 460 Week 2 Exercise 7-16 Multiple Choice Assignment NEW

UOP ACC 460 Week 2 Exercise 7-16 Multiple Choice Assignment NEW

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ACC 460 Week 2 Exercise 4-15 Examine the CAFR NEW

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? (3) Is information on expenses for governmental activities presented at least at the functional level of detail? (4) Are program revenues segregated into (a) charges for services, (b) operating grants and contributions, and (c) capital grants and contributions on the statement of activities?

General Fund. Answer the following questions. (1) What statements and schedules pertaining to the General Fund are presented? (2) What purpose is each statement and schedule intended to serve? (3) Are any noncurrent or nonliquid assets included in the General Fund balance sheet? If so, are they offset by equal amounts classified as “nonspendable” fund balances?

 (4) Are any noncurrent liabilities included in the General Fund balance sheet? If so, describe them. (5) Are revenue classifications sufficiently detailed to be meaningful? (6) Has the government refrained from reporting expenses rather than expenditures?

Special Revenue Funds. Answer the following questions. (1) What statements and schedules pertaining to the special revenue funds are presented? (2) Are these only combining statements, or are there also statements for individual special revenue funds? (3) Are expenditures classified by character (i.e., current, intergovernmental, capital outlay, and debt service)? (4) Are current expenditures further categorized at least by function?

abilities in the proprietary fund financial statements?

a.   $0.

UOP ACC 460 Week 2 Team Simulation Assignment NEW

UOP ACC 460 Week 2 Team Simulation Assignment NEW

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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.

UOP ACC 460 Week 3 Chapter 9 Exercise 9-15 Examine the CAFR NEW

UOP ACC 460 Week 3 Chapter 9 Exercise 9-15 Examine the CAFR NEW

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Utilize the CAFR obtained for 4-15 in Week 2.

Complete the following in Exercise 9-15:

·        

A

·        

B (1)

·        

C on p. 397

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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 effectively—do 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? Are Total columns provided in the basic financial statements and schedules for the primary government and the reporting entity? If so, are the Total columns for the current year compared with Total columns for the prior year?

2.    Review your answers to the questions asked in Exercises 3-15 and 4-15 in light of your study of subsequent chapters of the text and your analysis of all portions of the annual report. Based on your current knowledge and understanding of government accounting, would you change or modify any of your earlier answers? If so, explain how you would change them and why you would change them.

c.      Analysis of Statistical Section. Does the statistical section present information in the five categories defined by the GASB? What tables and schedules are presented for each category? Does the information provided in each category appear to meet the purpose of the category? Explain your response.

d.     Service Potential of the CAFR. In your opinion, what are the most important information needs that a governmental annual report should fulfill for each of the following:

1.    Administrators.

2.    Members of the legislative branch.

3.    Interested residents.

4.    Creditors or potential creditors.

In what ways does the CAFR you have analyzed meet the information needs you have specified for each of the four groups, assuming that members of each group make an effort to understand reports equivalent to the effort you have made? In what way does the report fail to meet the information needs of each of the four groups?

UOP ACC 460 Week 3 Chapter 10 Exercise 10-20, Comparative Ratios NEW

UOP ACC 460 Week 3 Chapter 10 Exercise 10-20, Comparative Ratios NEW

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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.

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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. Show your computations.

c.     Provide an overall assessment of the City of Arborland's financial condition using all the information provided, both financial and nonfinancial. Use information from the prior years to form your assessment.

UOP ACC 460 Week 5 Team Problem 15-17 Private College Transactions NEW

UOP ACC 460 Week 5 Team Problem 15-17 Private College Transactions NEW

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ACC 460 Week 5 Team Problem 15-17 Private College Transactions NEW

Complete questions 15-17, a and b.

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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. It also collected $820 of Pledges Receivable that were unrestricted.

3. Collections on Tuition and Fees Receivable totaled $222,600

4. Net deposits returned to students totaled $10.

5. Expenses were incurred for:

Instruction $86,100

Academic support 23,300

Student services 37,700

Institutional support 28,500

6. Related to the expenses incurred: prepaid assets of $534 were used, $4,776 of the expenses were accrued, and the remaining expenses were paid. Expenses incurred resulted in the release of $7,320 in temporarily restricted net assets.

7. The ending balance in Accounts Payable and Accrued Liabilities was $1,935.

8. Investment earnings received for the period were $3,960, of which $2,070 was temporarily restricted.

9. Adjusting entries for the period were made to increase Allowance for Doubtful Accounts by $20, to record depreciation expense of $26,400 (charged 70 percent to instruction and 30 percent to academic support), to adjust tuition revenue for an increase in unearned revenue of $10, and to recognize an increase in fair value of investments of $4,700 ($790 was related to temporarily restricted net assets, $1,610 was related to permanently restricted net assets, the remainder was related to unrestricted net assets).

10. Nominal accounts were closed.

Required

a. Prepare journal entries in good form to record the foregoing transactions for the year ended June 30, 2017.

b. Prepare a statement of activities for the year ended June 30, 2017.

UOP ACC 460 Week 3 Team Simulation Assignment NEW

UOP ACC 460 Week 3 Team Simulation Assignment NEW

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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.

UOP ACC 460 Week 4 Chapter 14-1, 14-4 NEW