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ACCT 567 Governmental and Non Profit Accounting All DQs Devry

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Question;Devry ACCT 567 (Governmental and Non-Profit Accounting)Week 1Week 1 DQ 1 Standard-Setting Bodies (Graded)Discuss some of the major differences between GASB and FASB when it comes to setting accounting standards.Week 1 DQ 2 Accounting vs. Governmental Systems (Graded)Why are there major differences between governmental accounting systems vs. business accounting systems?Week 2Week 2 DQ 1 Adoption of a Budget (Graded)How does the adoption of a budget in a governmental entity differ from the adoption of a budget by a commercial enterprise?Week 2 DQ 2 Governmental Accounting 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 3Week 3 DQ 1 Capital Funds Purposes (Graded)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?Week 3 DQ 2 Purpose of a Debt Service Fund (Graded)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 4Week 4 DQ 1 Accounting Similarities (Graded)How would you compare the accounting for enterprise funds with that of (a) businesses and (b) governmental funds?Week 4 DQ 2 Internal Service Funds (Graded)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?Week 5Week 5 DQ 1 Fiduciary Funds (Graded)Discuss various situations in which a government has fiduciary responsibility but does not report them in fiduciary funds.Week 5 DQ 2 Financial Reporting:Basic Financial Statements (Graded)What basis of accounting is used to report governmental activities in government-wide financial statements? Can another basis be used? Please explain.Week 6Week 6 DQ 1 Auditing Differences (Graded)In what significant way do financial audits in government and not-for-profit organizations differ from those carried on in businesses? Please explain.Week 6 DQ 2 Not-for-Profit Organizations (Graded)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?Week 7Week 7 DQ 1 Colleges and Universities (Graded)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?Week 7 DQ 2 Differences in Governmentand Commercial Accounting (Graded)What are some of the key differences between government healthcare accounting and commercial accounting? Please cite some examples.

 

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