GOVERNMENTAL ACCOUNTING
ACC 4043/6043
Fall 2015
Instructor: John T. Rigsby
Office: 300T McCool Hall Office Phone: 325-1640
Class Room: 126 McCool Hall Class Hours: 12:30-1:45 pm MW
Office Hours: 11:00 -11:50 am MW and by appointment
E-Mail: Please give me your e-mail address so that I can keep
in touch with you concerning assignments, etc.
Required Texts: 1. Essentials of Accounting for Governmental and Not-for-Profit
Organizations, 12th Ed., by Paul Copley, 2015.
2. Gleim’s Financial Accounting: Exam Questions and Explanations, 18 ed..
Course Description: Accounting theory and practice as applied to governmental accounting
entities and not-for profit organizations. Deals with the classification and
use of fund accounting, budgetary accounting, and financial statements for governmental entities, updated for the new GASB requirements. In addition, we cover not-for-profit fund accounting journal entries and financial statements for voluntary health and welfare organizations and hospital and health care providers.
Course Objectives: Are to learn (1) generally accepted accounting principles for governmental and not-for-profit organizations, their similarity to
and differences from private business enterprise accounting, and become familiar with the organizations responsible for establishment of these standards; (2) external financial reporting requirements of governmental and nonprofit entities; and (3) develop an appreciation for the extensive control and compliance requirements of governmental entities. Prerequisite is ACC 2023 – Managerial Accounting.
Course 1. The level of difficulty and rigor of the course material covered in class Requirements: will require you to be present. There is a direct correlation between class
attendance and performance on exams. You are preparing for a
professional career; therefore, you should view this class as a professional job assignment. Attendance is expected.
2. A key ingredient for success is self-study. Classroom lectures and activities are designed to guide you and direct your learning experience. Much of your learning occurs outside the classroom; therefore it is your responsibility to diligently study the assigned course materials. Considerable effort on your part is required and is a long-term investment in yourself.
3. You need to apply concepts, not just memorize them, as this course is aimed at developing your understanding of governmental accounting. You will do lots of exercises in each chapter and I will be calling on you regularly in class with the intent of helping you make the material your own! That is the goal of the learning process.
Assumptions: I am operating on the assumption that you want to gain the most you can
from your studies and will therefore invest yourself in readings and
assignments and come to every class prepared to engage fully. Therefore, learning is student-centered, active, integrated, cumulative, and connected. I assume you will take responsibility for your own learning and will also contribute to the learning of others. What you gain from this experience is in direct correlation to what you invest in it.
You may assume that I care about your success—personally, academically, and professionally. I trust you will work to balance effectively your personal, academic, and professional commitments. I want you to gain the most possible from this experience and I am committed to my facilitator role in this venture. I want to hear your experiences, ideas, and feedback; and will hold you accountable to high academic standards.
Grading: 90-80-70-60 % basis
Quizzes (10 x 4 pts)………………………………. 40 pts
Test 1 (Chs. 1, 2, 3, 4)……..………………………….. 100
Test 2 (Chs. 5, 6, 7, 8) …...………………………….. 100
Test 3 (Chs. 10, 12) ………………….….…….....…... 100
CAFR (5 x 3 pts.)..………………………………... 15
Participation…………………………………………. 23
Journal….…………………………………………. 3
Current topics(2)...…………………………………… 6
Paper (grad. students only)………………………… 23
Total……………………………………… 410 pts
Quizzes: Quizzes are given at the beginning of class and normally on the last day
that we cover a chapter. They will be graded on a four-point scale. If
you are not present when they are handed out, you will earn no points, and there is no opportunity to make up scores for missed quizzes. To compensate for possibly unavoidable absences, I will drop the lowest quiz grade, and recompute your quiz score on a percentage basis out of 36 possible points. That percentage times 40 will equal your quiz score.
Tests & Final: The tests will consists of a combination of true-false, multiple-choice,
terminology, and several exercises over the related material. The exercises tend to emphasize journal entries (and occasionally financial statements) from a particular fund. The final exam is comprehensive and consists of approximately 50 multiple choice (25 from chapters 10 and 12 and the rest from the previous chapters). The exercises for the final will come from chapters 10 and 12.
CAFR: During the semester five Comprehensive Annual Financial Report
exercises are assigned. The exercises are to be typed, single-spaced, with
a space between each section. Your name, that of the city, the period of the financial statement, and the number of the exercise your are doing are to be included in a title. The questions are to be in bold, followed by you answer in regular type. The due dates are indicated in class assignments. I do have some CAFRs, but if you call the finance dept. of a city they will mail you a copy of their CAFR, and you should receive it in two to three days.
Participation: Will be based upon having the homework prepared at the beginning of
class, participation in class in responding to questions concerning
assigned exercises. Absences above three will count against this score.
Journal: You are to turn in a journal write-up on Wednesday of the second week.
Its purpose is for me to get to know you. It is to be one page, typed.
Current Each student is to turn in two one-page written reports on current events
Topics dealing with one event or several. Due dates are indicted later.
Paper: Graduate students are to turn in a five page, double-spaced, typed
report on a current governmental topic. All sources are to be properly
referenced, and a minimum of five sources are required. I will hand out a sample of a paper at the beginning of the semester illustrating the use of title page, footnotes, and references. Points will be allocated as follows: 5 pts length, 5 pts. references, 5 pts footnotes, 3 pts grammar, 5 pts development. Topics are to be approved by me; the due date is October 5st.
Academic Integrity: Mississippi State University has an approved Honor Code that applies to
all students. The code is as follows:
"As a Mississippi State University student I will conduct myself with honor and integrity
at all times. I will not lie, cheat, or steal, nor will I accept the actions of those who do."
Upon accepting admission to Mississippi State University, a student immediately assumes a commitment to uphold the Honor Code, to accept responsibility for learning, and to follow the philosophy and rules of the Honor Code. Students will be required to state their commitment on examinations, research papers, and other academic work. Ignorance of the rules does not exclude any member of the MSU community from the requirements or the processes of the Honor Code. For additional information please visit:
http://www.msstate.edu/dept/audit/1207A.html.
Disclaimer: This syllabus is a tentative course plan prepared to provide foresight for students enrolled in the class and may be changed at any time during the semester as deemed necessary.
ADA Statement: If you need academic accommodations based on a disability, contact the
office of Student Support Services in Room 01, Montgomery Hall (325-
3335) or email Julie Betty at
Title IX: MSU is committed to complying with Title IX, a federal law that prohibits
discrimination, including violence and harassment, based on sex. This means that MSU’s educational programs and activities must be free from sex discrimination, sexual harassment, and other forms of sexual misconduct. If you or someone you know has experienced sex discrimination, sexual violence and/or harassment by any member of the University community, you are encouraged to
report the conduct to MSU’s Director of Title IX/EEO Programs at 325-8124 or by e-mail to . Additional resources are available at http://www.msstate.edu/web/security,
or at http://students.msstate.edu/sexualmisconduct/.
Important Dates:
8/21 – Last day for dropping a course without a grade.
8/24 – Last day for registration or adding a course.
10/8 – Last day to drop a course with a “W”.
Date Chapter Assignment CAFR
Aug. 17 (M) Introduction - Chapter 1
19 (W) 1 Overview of Financial Reporting
1-MC1, MC2, 6
24(M) 2 Overview of Financial Reporting Quiz 1
2-MC1, 7, 8
26(W) 2 Overview of Financial Reporting Journal Due
2-MC2, 9, 10
31(M) 3 Budgetary Acct-General & Special Revenue Funds Quiz 2
3-4, 5, 7, 9
Sept 2 (W) 3 Budgetary Acct-General & Special Revenue Funds CAFR #1
3-MC1 & 2, 12, 13
7 (M) Holiday – Labor Day
9 (W) 4 Acct for General & Special Revenue Funds Quiz 3
4- 4, 5
14 (M) 4 Acct for General & Special Revenue Funds CAFR #2
4-MC1, 3, 11a
16 (W) 4 Acct for General & Special Revenue Funds Quiz 4
4- MC2, 7
21 (M) Test 1 (Chs 1-2-3-4)
23 (W) 5 Capital Project, Debt Service & Permanent Funds 1st Current topic
5-6 write-up due
28 (M) 5 Capital Project, Debt Service & Permanent Funds CAFR #3
5-MC1, 7, 8
30 (W) 5 Capital Project, Debt Service & Permanent Funds
5-MC2, 10, 12
Oct 5 (M) Holiday – Fall Break
7 (W) 6 Proprietary Funds Quiz 5
6-12
12 (M) 6 Proprietary Funds CAFR #4
6-MC 1, 7, 9
14 (W) 6, 7 Proprietary Funds Quiz 6
6-10-a, b, c
19 (M) 7 Fiduciary Funds 2th Current topic
7-MC1, 3, 7 write-up due
21 (W) 7 Fiduciary Funds Quiz 7
7-MC2, 6, 8, 13
26 (M) 8 Government-wide Financial Statements CAFR #5
8-6, 9, 10
28 (W) 8 Government-wide Financial Statements
8-MC1, 4, 11
Nov 2 (M) 8 Government-wide Financial Statements Quiz 8
8-MC2, 7
4 (W) Test 2 (5, 6, 7, 8)
9 (M) 10 Not-for-Profit Organizations
10-3, 9
11 (W) 10 Not-for-Profit Organizations Paper due
10-MC1, 7, 11
16 (M) 10 Not-for-Profit Organizations
10-MC2, 12
18 (W) 12 Hospitals & Other Health Care Providers Quiz 9
12-MC1, 5, 6
23 (M) 12 Hospitals & Other Health Care Providers
12-MC2, 9
25 (W) Holidays - Thanksgiving
30 (M) 12 Hospitals & Other Health Care Providers Quiz 10 12-7, 8
8 (Tu) Final (3:00-6 :00 pm)
Note: Assigned exercises are subject to change.