University of Notre Dame Mendoza College of Business MNA Program Fall 2014 Preliminary Syllabus

Transcription

1 University of Notre Dame Mendoza College of Business MNA Program Fall 2014 Preliminary Syllabus Course: MNA 70750: Accounting for Non-Profit Managers Professor: Margot J. Cleveland, J.D., C.P.A. Phone Number: Address: GENERAL INFORMATION AND COURSE REQUIREMENTS: 1.Course Description: Building on the principles learned in introductory accounting courses, this advanced accounting course applies accounting theory and principles in the non-profit sector. The goal is to aid non-profit managers in providing useful information to financial statement users and internal decisionmakers. The course also focuses on the importance of control measures to assure the reliability and accuracy of the financial records and to prevent loss due to mistakes or misconduct. 2.Professor: The course is taught by Professor Margot J. Cleveland, a CPA and lawyer who has more than fifteen years of experience teaching at the University of Notre Dame, including teaching financial and managerial accounting courses, as well as introductory and advanced business law courses. Professor Cleveland also brings to the course her extensive experience as a Board member and former treasurer of a multi-state non-profit organization. Professor Cleveland also served on the non-profit s finance committee, performed budgetary forecasting and analysis, and helped oversee the implementation of a new accounting system. 3.Required Text: The required readings for this course will be assigned from various internet sources, including primarily, chapters in the AICPA Audit and Accounting Guide: Non-For- Profit Organizations. This resource will be referred to in the syllabus as Guide, and is available on line at FASB Checkpoint. To access FASB Checkpoint, go to: and search for AICPA Audit and Accounting Guide under database. You will need to enter your Notre Dame AFS identification and password. (If you do not have a proxy server set up on your computer, you may need to set one up. The OIT HelpDesk can assist if you have questions on the proxy server.) Arrow down to Not-for-Profit Entities (2013). Arrow down the results and you will see the Introduction and the various chapters noted below. Click on the appropriate link for the readings. We will review these directions during the first class. 4.Class Format: This course will be delivered through distance-learning, with students attending weekly lectures via a conference call and participating through a web-based interactive site. Additionally, teams will work in smaller groups, meeting weekly via conference calls (or in person) to discuss assigned projects. Students must teleconference with their assigned groups for at least twelve hours, ideally one hour per week after the Tuesday lecture for

2 the given week, although each group may determine the schedule that best suits the members time constraints. Student groups will be determined based on areas of interest and days/times of availability for group meetings. The course will meet for lectures on twelve Tuesdays, from 7-8:30 p.m. EST, beginning August 26, 2014, through December 2, There will be no lectures on September 23 and November 4, with students completing mid-term examinations during those weeks. We will also not have class on December 9, 2014, with students completing their final examination that week; students must complete a two-hour final exam by December 13, The exams will be available over the internet, at snd.edu. 5.Course Requirements: Students must attend the lectures real-time for at least nine of the twelve conference-call classes. Students may make-up no more than three missed classes by listening to a recorded voice-streaming of the missed lecture. Students must also meet with their groups for a total of twelve hours during the course of the semester. Students may not miss more than three hours of group meetings, although the group must decide whether and how an absent team member must make up for a missed meeting. Students must complete one paper and make one presentation related to a specific accounting issue facing managers in the non-profit arena. A list of possible project topics follows. Student groups will also conduct a group project consisting of group research and bench-marking on select topics and will make a team presentation of helpful resources related to those topics. Additionally, student groups will be assigned discussion topics each week, which they must be prepared to discuss during class. Student groups must submit minutes of each team meeting. Finally, students must complete two mid-term examinations and a final examination. 6.Assigned Readings: Prior to classes, students must complete the assigned readings and discuss, in their teams, the assigned topics. Students should also print off the PowerPoint slides and outline which I will to the class on the day before the class. 7.Office Hours: Because of the distance-learning format of this class, there are no set office hours. However, students are encouraged to contact me via at mobrien@nd.edu with any questions or concerns, and I will respond to your s as soon as possible. Also, feel free to me to schedule a telephone conference should you have questions which are better addressed that way. 8.Examinations: There will be three graded examinations in Accounting for Non-Profit Managers. The examinations will consist of multiple-choice questions (worth approximately 70% of your grade) and short-answer questions (worth approximately 30% of your grade). The examinations will be available through the Sakai.nd.edu. You will have 90 minutes to complete the two mid-term examinations and 2 hours to complete the final examination. (Please note: Your examination score will be reduced if you exceed the time limit for the examination. Additionally, the program may automatically terminate your examination if you exceed the time limitation. Also, please make sure you complete the examination from a reliable internet connection, because if you are disconnected during the examination, the time will continue to elapse.) You may complete the examinations beginning on the Saturday prior to the examination week and ending at midnight on the Saturday at the end of the examination week.

3 9.Honor Code: Students are reminded that the University of Notre Dame Academic Code of Honor Handbook covers their performance in Accounting for Non-Profit Managers. So that there are no questions concerning my expectations, please note that to receive credit for the course, you must attend class, as noted above, participate in team meetings and assignments, as detailed above. Additionally, the three examinations are closed-book, closed-note, timed examinations. You may not use any outside help or sources, and you must complete the examinations during the time allocated for each examination. You may not discuss, in any way, the examinations with anyone who has already completed the examinations, and once you have completed the examinations you may not discuss the examinations with any of your classmates. It is also an honor code violation to provide copies of the examinations to other students or to review copies of the examinations prior to completing the examinations. 10.Group Meetings & Minutes: As noted, student groups must meet twelve times throughout the semester for one-hour meetings. Groups will be assigned discussion topics each week, which they must be prepared to discuss during class. Student groups should take minutes of each team meeting. The group minutes will be worth 5% of your final grade and will also document your discoveries, which will be helpful for when I ask the groups to share what they learned on various topics. The minutes should be submitted in one document on September 30 (for group meetings from August 26 September 23); and November 11 (for group meetings from September 30 October 28). 11.Student Papers & Presentations: As noted, students must complete one paper and make one presentation. The papers and presentations seek to apply accounting theory and principles to real-world issues students face in the non-profit organizations in which they work. Ideally, students will use actual data from their non-profit employers, but if confidentiality concerns make that impractical, the professor will work with the students to determine an appropriate alternative project. Students may (and are encouraged) to discuss their individual paper topics, research, etc. with their teams, with team members providing useful feedback and brainstorming. Papers should be approximately twenty pages in length, plus any necessary exhibits. Your papers should include outside research and benchmarking, if appropriate. Your class presentations should be between ten and fifteen minutes long. The presentations should focus on key take-aways for your classmates and not be a full discussion of your papers. Students are encouraged to prepare PowerPoint slides or other appropriate handouts to supplement their presentations, which you should provide to me the day before class so that I can distribute those to your classmates Students may select any one of the following topics for their projects. Additionally, students may propose their own relevant topic for approval. Students must submit the paper topics for by September 16, 2014 and outlines for the papers by September 30, The papers are due on November 18, 2014 and class presentations on the papers will be made on November 18, 2014 and November 25, Analyze the chart of accounts and the financial information provided to the Board and make recommendations for improvement. 3

4 2 Perform an analysis of the current control system and measures, evaluating and making recommendations for improvement. 3. Create a procedure for budgeting for a non-profit organization, including all relevant forms, and draft a budget using this procedure. 4. Review and revise or create general overall accounting policies for your non-profit organization and Board. 5. Review and/or write accounting procedures for a non-profit organization. 6. Draft a policy, responsibilities, and pertinent documents for a Budget & Finance Committee. 7. Analyze financial statements and accompanying notes of a non-profit organization and make recommendations for improvement. 8. Approved project on other topic. 12. Group Discussion: Throughout the semester each group will be asked to discuss, during class, the various topics they have previously discussed during team meetings. 13. Grading: Accounting for Non-Profit Managers is a 3-credit hour graded course. Grading is calculated as follows: Mid-Term Examination 1 15% Mid-Term Examination 2 20% Final Examination 20% Team Minutes 5% Paper 30% Presentation 5% Group Discussion 5% 14.Grading Scale: Final grades will be based on the following grading scale. A 94% - 100% A- 90% - 93% B+ 88% - 89% B 84% - 87% B- 80% - 83% C+ 78% - 79% C 74% - 77% D 69% - 73% F 68% or lower Curve: The grading scale will be no more stringent than the above distribution; however, if overall class performance demonstrates a problem in the length or difficulty of the examinations, a curve may be instituted. 4

5 SYLLABUS August 26 Class 1 Topics: Introduction to class; course overview; goal of accounting; unique environment of non-profits; information needs of financial statement users (i.e., the Board of Directors, management, donors); GAAP for non-profits. Accounting 101: Generally Accepted Accounting Principles, available at: September 2 Topics: Accounting review (accounting equation; fund accounting Class 2 double-entry accounting and accrual accounting); review of accounting Accounting 101: Accounting 101; Cash v. Accrual, available at: Basic Accrual Concepts, available at: FAS 117 Statement & Appendix C, available at Guide: Introduction to Guide; Chapter 1: Introduction (withoutappendix); available at FASB on Checkpoint. September 9 Topics: Accounting review continued; analysis of Financial Statements; Class 3 analysis of chart of accounts; and analysis of accounting procedures Guide: Chapter 3: Basic Financial Statements and General Financial Reporting Matters, available at FASB on Checkpoint. Accounting 101: Chart of Accounts, available at: Unified Chart of Accounts, available at: Statement of Financial Position, available at: Statement of Financial Activities, available at: September 16 Topics: Analysis of internal control; analysis of cash management; Class 4 analysis of the audit process. Internal Control: Internal Controls; Internal Controls for Small Organizations; Internal Controls for Medium-Sized Organizations, available at: Consideration of Internal Control in a Financial Statement Audit, available at 5

6 Guide: Chapter 2: General Auditing Considerations, available on FASB on Checkpoint. Approaching an Audit, available at: Approaching_an_Audi t_for_your_nonprofit_organization.htm Audit Committee, available at Due: Paper Topics September 23 No Class No Group Meeting Due: Midterm #1 (by midnight, Saturday, September 21) September 30 Class 5 Topics: Reporting of non-profit revenues, i.e., contributions, including unrestricted and restricted grants, cash and in-kind donations, and pledges; reporting agency transactions; reporting exchange transactions. FAS 116: Accounting for Contributions Received and Contributions Made, as amendment, available at FASB on Checkpoint (click FASB; search for FAS 116; click on FAS 116, as amended); Guide: Chapter 5: Contributions Received and Agency Transactions, available at: FASB on Checkpoint; Guide: Chapter 12: Revenues and Receivables from Exchange Transactions, available at: FASB on Checkpoint. Due: Minutes, part 1 Paper Outlines October 7 Class 6 None Topics: Class Presentations & Class Discussion of Group Projects October 14 Topics: Reporting of expenses. Class 7 Guide: Chapter 13: Expenses, Gains and Losses, (no need to read Appendix), available at FASB on Checkpoint. October FALL BREAK NO CLASS October 28 Topics: Cost allocation Class 8 XYZ Corporation, Model Allocation Plan, available as: 6

7 November 4 No Class No Group Meeting Due: Midterm #2 (by midnight, Saturday, November 8, 2014) November 11 Topics: The budgetary process; forecasting; variance analysis Class 9 Budgeting & Financial Planning (including all sub-categories, i.e., The Budgeting Process, Budgeting Practices, Budgeting Terms & Concepts, Basic Accrual Concepts, Budgeting for Capital) available at: Non-Profit Budget Tips, available at: Nonprofit_Budget_Tips. htm Contingency Budgeting, available at: Contingency_Budgeting _for_your_nonprofit_organization.htm Due: Minutes, part 2 November 18 Class 10 Due: Team Papers November 25 Topics: Class Presentations Topics: Class Presentations December 2 Topics: Implementing changes and improvements to accounting system, Class 12 financial reporting and budgetary process, and internal controls; creating Reporting & Operations, available at Policies, available at December 9 No Class No Group Meeting Due: Final Exam (by midnight, Saturday, December 13, 2014) 7