ACC 630 Week 1 Discussion 1 Updated

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ACC 630 Week 1 Discussion 1 Updated

Read the journal article “Cracking the Nonprofit Accounting Code.” (Links to an external site.)

Based on the information presented in the article, discuss

a. How and why does the accounting system used by governmental/nonprofit entities differ from the system used by for-profit entities?

b. How does the annual financial report of a governmental/nonprofit entity differ from the report of a for-profit entity?

c. The user of a for-profit financial report is usually interested in the bottom line, net income. What are some top interests of the user of the financial reports of a governmental/nonprofit entity? Reference this week’s lecture to support your post.

ACC 630 Week 1 Discussion 2 Updated

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ACC 630 Week 1 Discussion 2 Updated

ACC 630 Week 1 Discussion 2 Updated

ACC 630 Week 2 Discussion 1 Updated

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ACC 630 Week 2 Discussion 1 Updated

Because a levy of property taxes creates a lien on taxable property, there is no need to reduce anticipated revenues for uncollectible amounts or to write off delinquent taxes. Do you agree or disagree with this statement? Why or why not? Reference this week’s lecture to support your post.

ACC 630 Week 2 Discussion 2 Updated

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ACC 630 Week 2 Discussion 2 Updated

Discuss the differences between a capital lease and an operating lease. Review the financial statements of local governmental or not-for-profit entities and find an example of each lease type. Your response should include details of each lease, the name of the entity, and advantages/disadvantages to the organization.

ACC 630 Week 3 Discussion 1 Updated

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ACC 630 Week 3 Discussion 1 Updated

Discuss the distinguishing characteristics of general long-term liabilities and how they are reported. Using the same financial statements referenced in your Week Two discussion (or different organizations, if desired) provide two examples of general long-term liabilities and two examples of other long-term liabilities you found on the entities’ financial statements. Include any specific provisions or characteristics noted about each example. Reference this week’s lecture to support your post.

ACC 630 Week 3 Discussion 2 Updated

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ACC 630 Week 3 Discussion 2 Updated

If you work for a publicly traded company, download the company’s annual report. If you don’t work for a publicly traded company, download the annual report of one of your favorite products (e.g. Apple or Dell). Search through the report and look for the section regarding “Managing risk” (it may be under a different name, but it is in there). Describe how this company uses hedges or contracts to manage currency risk.

ACC 630 Week 4 Discussion 1 Updated

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ACC 630 Week 4 Discussion 1 Updated

If you were trying to assess the financial health of a government administered pension plan, which financial statements or schedules would you review and why? Reference this week’s lecture to support your post.