ACCOUNTING 7378

Governmental Accounting

FALL 2001

Instructor: Dr. Saleha Khumawala

Office: 360 A Melcher Hall

Class : Wednesdays 6-9 p.m. Section 11685, Room 130 Melcher Hall

Office Hours: MW 11:30 a.m. – 12:30 p.m. and Wednesdays 4:30 p.m. – 5:30 p.m.

So that I might devote full attention to your needs, please schedule an appointment if you need to see me outside of office hours.

E-MAIL: Saleha@uh.edu

Web address http://www.cba.uh.edu/~Khumawala

REQUIRED TEXTS

Granof, Government and Not-For-Profit Accounting Second Edition ( John Wiley, 2001).

The text has a Web page that includes hints to the problem solutions, news items, text typos, and links to government-related Web sites. Its address is http://www.wiley.com/college/granof/

Governmental Accounting Standards Board, Codification of Governmental Accounting and Financial Reporting (Do not purchase; it will be distributed in class)

GROUP PROJECT: A group project, involving the financial and economic analysis of a governmental entity is required. A handout with all the DETAILS will be distributed in class. A report on the project will be due on November 28th.

CLASS PROBLEMS: Every week prior to coming to class please go to my web page and print out the illustrative class problems and class notes that will be discussed in class.

CITY OF ORLANDO: The city of Orlando’s Financial Statements are provided to you on the CD that comes with the text. The continuing problem in every chapter on governmental accounting is based on Orlando city’s Financial Statements. This problem has to be turned in for credit.

The Harvard Ps are a good guideline for what I expect:

Be PRESENT, PROMPT, PREPARED, and PARTICIPATE.

CLASS POLICIES:

1. PLEASE ask any questions relevant to the topics covered. Remember all questions are important. If you do not understand a concept, ASK!

2. Book chapters are assigned as a guideline for each class. Reading each chapter will help you understand the class. I assume you have read each chapter PRIOR to class. I am very happy to help any student to learn the material. But before you come to ask a question, I expect that you do your part of the bargain. That is, you are to read the text, Work the problems before hand, and discuss with classmates concepts and problems first. Then you are more than welcome to ask the questions anytime! Written Material and your colleagues are valuable resources that are instrumental in any career!!!!

3. Absolutely no talking to fellow students and no sleeping. Violators may be asked to leave for the remainder of that day’s lecture. Please realize that because of the size of the class, and the difficulty of the material more than the usual level of professional courtesy and consideration is absolutely necessary. You are expected to have the same performance and attendance that you would on your first job. This includes arriving on time and staying until class is dismissed. Please be respectful of others trying to pay attention. As a courtesy to your fellow students, beepers and mobile phones should not be brought to class.

4. Attendance is strongly recommended due to the difficult nature of the material and since some of the material covered in class and the problems worked in class to illustrate the concepts are not directly from the text. If you miss a class, you are responsible for what happens in class (any and all announcements, handouts, discussions) and for obtaining the information covered from a classmate.

5. Examinations must be taken at the scheduled time. No makeup exam is allowed unless you are involved in an emergency under certain circumstances. If it happens to you, official affidavits and your written petition must be presented to the instructor in order to file for an official decision and record.

6. Any violations to the university’s academic honesty policies will result in the student getting either a “WF” or “F”.

7. Exercises and Practice problems from the text are assigned for you to do on your own. They will not be collected or graded, but many of the test questions will be similar to these practice problems. There may be additional homework assigned in class.

8. Course grades will not be posted by the instructor. To receive your final exam grade and course letter grade before it is mailed by the university, you should supply a self-addressed stamped envelope to the instructor before the final Examination. Otherwise, your grade may be obtained by calling the Voice Information Processing System (713-743-8484) and following the voice instructions.

DAILY ASSIGNMENTS

Homework - You are expected to do the Continuing Problem based on the City of Orlando’s CAFR listed in this syllabus. A few questions, exercises, or problems may be discussed periodically in class. Special rules apply to the Continuing Problem that has to be turned in.

1. You must be present in class to turn in the assignment. Under no circumstances may you turn in an assignment for another student.

2. Assignment will be collected at the beginning of class. Do not attempt to turn in your assignment during class. You cannot fax or e-mail your assignment under any circumstances.

The written assignments will be marked satisfactory “S,” unsatisfactory “U,” or “F.” You do have the option of redoing your assignment that has a ‘U’ or an ‘F’ to obtain a satisfactory grade. They will count toward 10 percent of your final grade. You will start with a score of 100 points. You will be permitted to miss one assignment without penalty. Thereafter, you will lose ten points for each assignment missed and each marked unsatisfactory. However, if you miss an excessive number of assignments, you may end up loosing all the points allocated for written assignments.

EXAMINATIONS

Course Grade will be determined as follows:

Final exam 30%

CLASS exams 50%

Continuing Problem 10%

Group Project 10%

100%

CALCULATOR POLICY

The CPA Examination Committee has now approved the use of four-function calculators (addition, subtraction, multiplication, and division only) on the CPA Examination. You must use similar calculators for Examinations in this class. Calculators capable of storing text (alphabetic characters) and/or programming formulae are strictly prohibited. Your calculator must not be capable of perforating financial (e.g., PV, FV), trigonometric (e.g., sine, cosine), or statistical (e.g., regression, standard deviation) functions. Please inquire whether your calculator meets these specifications if you have any doubt. The CPA Examiners supply a Sharp, Model EL-231C calculator to candidates. These calculators are available in many stores for less than $10.

Review of Examinations

Upon your request, Dr. Khumawala will review your Examinations for errors in grading. Please resubmit the examination along with a note identifying the problems that you believe have been incorrectly graded and the reasons why you believe an error has been made. Papers will be regraded no later than one week after the class period in which the exam has been returned to the class at-large.

ACCOMODATIONS FOR STUDENTS WITH DISABILITIES

The Center for Students With Disabilities provides a wide variety of academic support services to all currently enrolled UH students who have any type of mental or physical disability of either a temporary or permanent nature. These services include assistance with course accommodations, adaptive equipment, individualized exam administration, taped textbooks, wheelchair repair, library needs, registration, handicapped parking, accessible housing and transportation, as well as many other needs. If you feel that you may need assistance of this nature, you call the Center at 713-743-5400. In addition, you should notify your professor about any special needs as soon as possible.

INSTRUCTOR COMMITTMENT

I am committed to the goal of enhancement of interest and skills in accounting theory and practice. I believe that, as a faculty, our performance is ultimately judged by whether our students (1) pass the CPA Exam, (2) obtain jobs, and (3) become productive leaders in the business continuity.

WITHDRAWAL POLICY

Last day to drop a course and receive a tuition refund is Wednesday, September 5, 2001. If you desire to drop the course without the course appearing on your transcript, you must submit a drop form to Student Services on or before Wednesday, September 19, 2001.

If you drop between September 19 and October 20 2001, you will receive a "W" regardless of your average.

If you drop between October 20 and November 6 2001 you will receive a "W" if your numerical average is 50% or higher on all examinations. Otherwise, you will receive an "F".

In accordance with University policy, you cannot withdraw from this course after Tuesday November 6, 2001. You should retain all documentation of courses you have dropped.

COLLEGE POLICY ON TEACHING

The Bauer College has a policy that requires all of its instructors to be evaluated by their students. The results of these evaluations are important to provide feedback to instructors on how their performance can be improved. In addition, these evaluations are carefully considered in promotion, salary adjustment, and other important decisions. We openly encourage students to provide feedback to the instructors and to the Bauer College through the evaluation process.

DEPARTTENT OF ACCOUNTANCY AND TAXATION

Mission Statement

• Our Mission is to (1) prepare accounting graduates for leadership roles in business, government, and nonprofit organizations, (2) conduct meaningful research that advances business knowledge, (3) perform service that benefits our College, University, and community, and (4) develop a reputation as a leading institution of higher education in the Mouth Test.

Objectives

Overall Teaching Objectives:

• Recruit quality students at both the local and national levels.
• Offer innovative and effective instructional methods using the latest technology.
• Offer instructional programs that rigorously blend theory and practical applications.
• Instill our alumni with a life-long commitment to the Department, College, and University.

Research Objectives:

· Publish articles of theoretical and empirical significance in high quality academic journals.

· Publish articles with practical implications in widely read professional journals.

· Publish instructional cases, textbooks, and other Materials that facilitate the learning process.

· Develop faculty with national reputations.

Service Objectives:

· Participate in academic and professional associations at the local, regional, and national levels.

· Participate in the decision-Taking processes of the College and University.

· Serve as a resource to the College, University, and community.

· Host regional, national, and international conferences.

· Place students in professional positions commensurate with their abilities.

A hard copy of the above statements will be made available upon request.

If you have any questions, please contact DR. NOLAND (713-743-4820).

THINGS TO CONSIDER AS A SENIOR ACCOUNTING MAJOR

ACCOUNTING INFORMATION ON THE INTERNET. If you are looking for accounting information on the internet, a good place to start is with the RAT site at Rutgers University at http://www.rutgers.edu/Accounting/raw.htm and the American Institute of Certified Public Accountants at http://www.aicpa.org.

Investigate the Career Management Timeline at http://www.cba.uh.edu/cba/csctime.html to make sure you are fulfilling all requirements and taking advantage of all opportunities.

Join an accounting organization - Accounting Majors have the opportunity to join one or more of the following organizations: Accounting Society (713-743-4930), Beta Alpha Psi (713-743-4924), and National Association of Black Accountants (713-743-4326). All of these organizations emphasize fellowship with other students and establishing links with the business community. For more information on requirements and activities, call the organization or look for their booths at the beginning of the semester.

Apply for a scholarship - Almost 300 students receive CBA scholarships per year. Most scholarships require a minimum of a 3.0 GPA; however, need based scholarships have minimums as low as 2.0. You May obtain an application in the Office of Student Services. The application takes approximately fifteen Minutes to complete.

Apply for an internship - The Rockwell Career Services Center maintains a database of business internships (see http://www.cba.uh.edu/cba/cscintrn.html). If you accept an internship in accounting that meets specific requirements, you may be eligible for 3 hours of academic cr.

Circulate your resume - Then you have completed your resume, you should register your resume with the Resume Bank Program in the Rockwell Career Services Center.

Register With University Career Services - Before you are allowed to make on-campus interviews, you must register and attend a Workshop. You should register as soon as possible in Room 106 of the Student Services Building.

Investigate graduate school - Graduate school can provide excellent career opportunities as well as help you obtain the 150 hr. requirement necessary to take the CPA Examination. Information on the Masters of Science in Accountancy (MIS Acct) and Masters of Business Administration (MBA) may be obtained from the Office of Student Services, the bulletin board outside of MH 370, or from the CBA web site (http://www.cba.uh.edu/cba/mast.html).

Get ready for the CPA Examination - The requirements to take the CPA Examination are very specific. To become familiar with these requirements, request the pamphlet entitled “Examination Information for Prospective Texas CPA Applicants” from:

Texas State Board of Public Accountancy

333Guadalupe, Tower III, Suite 900

Austin Texas 78701-3900

Phone 512-505-5570, Web Site http://www.tsbpa.state.tx.us/

PROJECTED CLASS SCHEDULE

DATE				READING ASSIGNMENT		EXERCISES/ PROBLEMS
	AUG		22		Introduction Chapter 1: The Government and Not-For-Profit Environment		P1-3, 6, 10
		29		Chapter 2: Fund Accounting		P2-2, 3, 5, 6, 7, 9 & Continuing Problem reviewed
SEP.		5		Chapter 3: Issues of Budgeting and Control		P3-1, 5, 11, & Continuing Problem from Ch. 2 DUE
		12		Chapter 4: Recognizing Revenue in Governmental Funds		P4-1, 3, 9, 11, 12 & Continuing Problem from Ch. 3 DUE
		19		Chapter 5: Recognizing Expenditures in Governmental Funds		P5-1, 2, 3, 5, 6, 11 & Continuing Problem from Ch. 4 DUE
		26		Chapter 6: Accounting for Capital Projects and Debt Service		P6-2, 4, 5, 8, 9 & Continuing Problem from Ch. 5 DUE
SEP.		29		EXAM 1: Chapters 1--5		FIRST OPPORTUNITY
OCT.		3		Chapter 7: Long-Lived Assets and Investments in Marketable Securities		P7-3, 4, 5, 6, 8 & Continuing Problem from Ch. 6 DUE
		10		Chapter 8: Long-Term Obligations Chapter 9: Business-Type Activities		P8-2, 8, & Cont. Prob. Ch. 7 DUE P9-2, 4, 5
		17		Chapter 9: Continued Chapter10: Fiduciary Funds and Permanent Funds		P9-6, 9 & Cont. Problem from Chapter 8 DUE P10-1, 5, 8
		24		Chapter 11: Issues of Reporting, Disclosure and Financial Analysis		P11-2, 4, 9, 10 & Continuing Problem from Ch. 9 DUE
OCT.		27		EXAM II: Chapters 6-11		SECOND OPPORTUNITY
		31		Chapter 12: Other Not-For-Profit Organizations		P12-1, 3, 8 & Continuing Problem from Ch. 10 DUE
NOV		7		Chapter 13: Using Cost Information to Manage and Control Chapter 14: Managing for Results		P13-4, 6 P14-2, 4, 5, 8, 9 SIM CITY
		21		Catch up		HAPPY THANKSGIVING!!!
		28		Chapter 16: Federal Government Accounting		P16-1, 5, 8 GROUP PROJECT DUE
DEC		12		FINAL EXAM 5-8 p.m.		YOUR LAST CHANCE

STUDENT INFORMATION SHEET

Course Name and No: _________________________

Last Name: __________________________________

Name to be called: ______________________________

Student ID Number: _______________________________

E-Tail Address: ____________________________________

Local Address: _______________________________________

_______________________________________

Home Phone Number: ___________________________

Currently Employed at: __________________________

Work Phone Number: ___________________________

How Many hours per week do you Work? ________________

How Many hours of classes are you taking this semester? _________________

What are your career goals? For example, do you want to Work for a CPA firm, corporation, government or nonprofit entity etc.?

What are your major activities and hobbies?

NAME ___________________________________________

Read the following statements carefully, sign this page, and return it to your Professor.

1. I am aware of the ASSIGNMENT policy that requires OF ME to be present in the class.

2. I am aware of the Withdrawal policy and the policy for Missed Examinations and agree to adhere by these policies.

3. I will do my share of the WORK in the GROUP PROJECT.

Name (printed) ______________________________________

Student ID ______________________________________

Signature ______________________________________