ACCT 567 Entire Course
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ACCT 567 Entire Course
ACCt
567 Week 1
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ACCT 567 Week 1 DQ 1 Standard-Setting Bodies )
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Discuss
some of the major differences between GASB and FASB when it comes to setting
accounting standards.
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ACCT 567 Week 1 DQ 2 Accounting vs. Governmental Systems
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Why are
there major differences between governmental accounting systems vs. business
accounting systems?
ACCT 567 Week 1 Homework Exercises
ACCT 567 Week 1 Homework Chapter 1 (Exercise
1-3)
ACCT 567 Week 1 Homework Exercises (2-3) and
Exercise (2-5)
ACCt
567 Week 2
ACCT 567 Week 2 DQ 1 Adoption of a Budget
How
does the adoption of a budget in a governmental entity differ from the adoption
of a budget by a commercial enterprise?
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Week 2 DQ 2 Governmental Accounting
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Transactions (Graded)
Please
provide an explanation as to why accounting transactions for governmental
activities as the governmental-wide level tend to be reported differently than
transactions for the General Fund? Could you cite some examples?
Week 2 Case Study and Homework Exercise
ACCT 567 Week 2 Case Study I (City of
Middleville)
ACCT 567 Week 2 Homework Problems 3-9 and 4-4,
4-6, 4-10
ACCT
567 Week 3
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ACCT 567 Week 3 DQ 1 Capital Funds
Purposes
When
should a capital projects fund be used by a governmental entity? Is it
mandatory that a governmental entity use a capital project fund for GAAP
purposes?
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ACCT 567 Week 3 DQ 2 Purpose of a Debt
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Service Fund
When
does GAAP require the use of a debt service fund? Are there instances when a
governmental entity is not required to use a debt service fund?
Week 3 Homework Problem,Excercises and
Quiz
ACCT 567 Week 3 Homework Problems 5-3 and 6-5
ACCT 567 Week 3 Problem 5-7 and Problem 6-8
ACCT
567 Week 3 Quiz
1. (TCO A) Which of the following items are
considered Required Supplementary Information (RSI)?
2. (TCO B) In addition to the
government-wide statements, governmental entities are required to prepare fund
financial statements for which of the following category of funds?
3. (TCO C) The County Commission of Hunter County
adopted its General Fund budget for the year ending June 30, comprising of
estimated revenues of $3,750,000 and appropriations of $3,150,000. Hunter
County utilizes the budgetary accounts required by GASB standards. The budgeted
excess of estimated revenues over appropriations will be recorded as:
4. (TCO D) Which of the following is a true
statement regarding the use of a Special Revenue Fund?
5. (TCO B) Which of the following is
true regarding the government-wide Statement of Net Assets?
6. (TCO D) GASB standards _____ that each
governmental reporting entity display _____ General Fund in its general-purpose
financial statements.
7. (TCOs A and B) Please list and
describe the three major sections of the Comprehensive Annual Financial Report
and provide a brief description of what is included in each of the section.
8. (TCO D) The City of Minyard
adopted the following budget for fiscal year 2012:
9. (TCO D) The City of Martinville
had the following pre-closing account balances in its General Fund as of June
30, 2012. Debits and credits are not separated; each account had its “normal” balance.
Among the expenditures that are recorded this year is an amount that has been
expended on supplies ordered at the end of the previous year. Assume that the
encumbrances do not lapse and that the city failed to make the proper journal
entry or entries necessary to re-establish the encumbrance in the current year.
ACCT
567 Week 4
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Week 4 DQ 1 Accounting Similarities)
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How
would you compare the accounting for enterprise funds with that of (a)
businesses and (b) governmental funds?
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Week 4 DQ 2 Internal Service Funds |
What
types of activities are recorded under the internal services account? Please
provide examples. Is the government required to account for activities in the
internal service fund or in another fund?
ACCT 567 Week 4
ACCT 567 Week 4
ACCT 567 Week 4 Homework Problems 7-3 and 7-8
ACCT
567 Week 4 Midterm Exam Solution 100% perfect
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 5
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ACCT 567 Week 5 DQ 1 Fiduciary Funds )
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Discuss
various situations in which a government has fiduciary responsibility but does
not report them in fiduciary funds.
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ACCT 567 Week 5 DQ 2 Financial Reporting: Basic
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Financial Statements
What
basis of accounting is used to report governmental activities in
government-wide financial statements? Can another basis be used? Please
explain.
Week 5 Case Study and Homework Problems
Week 5 Case Study and Homework Problems
ACCT 567 Week 5 Case Study II (City of Shipley
Part A, B, C and D)
ACCT 567 Week 5 Homework Case 8 – 1
ACCT 567 Week 5 Homework Problems (8-4)
Problem (9-4)
ACCT 567 Week 5 Homework Problems (9-9 and
9-10)
ACCT 567 Week 5 Homework The Village of Dover
(8 – 8)
ACCT
567 Week 6
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Week 6 DQ 1 Auditing Differences (Graded)
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In what
significant way do financial audits in government and not-for-profit
organizations differ from those carried on in businesses? Please explain.
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ACCT 567 Week 6 DQ 2 Not-for-Profit Organizations (Graded)
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How do
not-for-profit organizations differ from government activities in the way the
account for business-type activities, such as dining halls, gift shops, and
admission fees?
ACCT 567 Week 6 Homework Problems and Quiz
ACCT 567 Week 6 Homework Problems and Quiz
ACCT 567 Week 6 Homework 14-8 a,b,c,d
ACCT 567 Week 6 Homework Problem (12-4)
ACCT
567 Week 6 Quiz
1. (TCO F) Any activities that produce goods or
services to be provided to other departments or other governmental units would
be reported in which fund?
2. (TCO F) Government units use
which fund type to account for services provided to the general public on a
user-fee basis?
3. (TCO G) A fund that is the result of an
agreement between a contributor and a government that the principal and/or
income of trust assets that is for the benefit of individuals, organizations,
or other governments is a(n)
4. (TCO H) Which of the following would be
considered a performance audit under the Governmental Auditing Standards?
5. (TCO J) Which of the following kinds of
information would not be provided by management’s discussion and analysis
(MD&A)?
6. (TCO H) Which of the following
would be considered “contribution revenue or support” of a not-for-profit
organization?
7. (TCO H) Describe the different types of
governmental audits and attestation engagements.
8. (TCO F) Internal Service Fund, Statement of Cash
Flows. Prepare a statement of cash flows for the internal service fund for the
city of Pearman from the following information:
ACCT
567 Week 7
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ACCT 567 Week 7 DQ 1 Colleges and Universities (Graded)
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What
financial statements must be presented by a government university that engages
in only business-type activities? Is there a GASB or FASB requirement that
mandates this type of implementation?
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ACCT 567 Week 7 DQ 2 Differences in Government and
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Commercial Accounting
What
are some of the key differences between government healthcare accounting and
commercial accounting? Please cite some examples.
ACCT 567 Week 7 Homework Problems
ACCT 567 Week 7 Homework Problem 16-4 a, b
ACCT 567 Week 7 Homework Problems (16-3)
Problem (17-6)
ACCT 567 Week 7 Homework Problems (16-4 and
17-7)
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