1ACT 516: ACCOUNTING FOR GOVERNMENT AND NONPROFIT ORGANIZATIONSFall 2021Professor:Dr. Tonya Smalls, CPAOffice:Goizueta Business School, Room 457Office Hours:Virtual T/TH 10am–12pma, or by appointmentPhone/E-mail:[email protected]Class Logistics:M/W, 10:00 am–11:15 am GBS 234Reminder: Masks are required, regardless of vaccination status, in all indoor public and commonspaces on the Emory University campus, including classrooms.COURSE DESCRIPTION AND OBJECTIVESFinancial reporting and analysis of government and nonprofit organizations. Government topicsinclude fund accounting, general and special-purpose funds, and government-wide financialstatements for both Federal and state/local organizations. Nonprofit topics include tax exemptstatus, Form 990, unrelated business income, private foundations, contributed vs. earned income,functional expenses, endowments, split-interest agreements, and mergers and acquisitions. Specialfocus will be given to NGOs operating in the healthcare and higher ed sectors.Upon successful completion this course, you should be able to:•Understand the differences in the commercial and governmental and nonprofitaccounting and reporting environment.•Understand and be able to use governmental and nonprofit accounting and reportingterminology.•Understand the basics of budgeting, budgetary accounting, and budgetary reporting.•Understand governmental, proprietary, and fiduciary fund accounting and reportingrequirements.•Understand the financial reporting requirements for state and local governments.•Understand the financial reporting requirements for non-governmental not-for-profitorganizations.TEACHING METHODS AND MATERIALSThe course format is a combination of (1) lectures; (2) in-class discussions and rigorousreview/analysis of real-world government andNFPs’ financial reports, tax returns, andmanagement accounting reports; and (3) assignments geared toward stimulating and reinforcingyour learning. I expect you to invest about four hours each week of serious and conscientious effortoutside of class to solidify your learning by working through the assignments.PrerequisitesaI reserve the right to cancel/reschedule office hours on a given day by giving you advance notice.
2To hit the ground running, you should have taken recently an introductory financial accountingcourse (e.g., ACT 210/512). I will assume that you are comfortable with the basic mechanics ofdouble-entry bookkeeping, including the accounting identity, the definitions of basic elements offinancial statements, the articulation and preparation of simple financial statements (including thestatement of cash flows), the reconciliation between net income and operating cash flows, and theuse of T accounts to analyze transactions and their financial statement effects. While not required,some prior exposure to management accounting (e.g., ACT 211/513) and statistics, includingregression analysis (e.g., ISOM 350/550), will come in handy since some assigned readings arefrom scientific research journals.
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Term
Fall
Professor
N/A
Tags
Academia, Academic dishonesty
