CC 322 FINAL PROJECT TWO: NONPROFIT ACCOUNTING GUIDELINES AND RUBRIC OVERVIEW

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CC 322 Final Project Two: Nonprofit Accounting Guidelines and Rubric
Overview
The second final project for this course is the creation of an accounting workbook and
accompanying memo to management.
Unlike traditional businesses, the purpose of nonprofit organizations is to provide services to
society. The lack of profit motive and the focus on providing services
creates the need for a different kind of accounting and accountability. Revenue sources are
different, with nonprofits relying on donations and fees for services.
Resources are also accounted for differently because of restrictions often placed on donations. It
is the responsibility of the nonprofit accountant to provide
accountability for these funds through financial reports.
By working through this project, you will understand how revenues and expenses are accounted
for in nonprofits. Using this information can also help you
analyze the financial position of the organization. This analysis can be used to assess financial
strengths and weaknesses.
It is important to note that some types of organizationsuniversities and healthcare organizations,
for examplecan be for-profit, nonprofit, or government
operated. As an accountant, you need to understand how the statements for these organizations
would be different under different models.
In the accounting workbook and memo, you will use course-provided information to (1) analyze
transactions for a nonprofit in accordance with industry
standards; (2) create and use financial statements to assist in the analysis of the organization’s
financial position; and (3) communicate the results of operations
to management.
In this assignment, you will demonstrate your mastery of the following course outcomes:
Prepare journal entries, financial statements, and supporting documentation that impact reporting
for nonprofit and governmental entities using
appropriate accounting standards
Evaluate governmental and nonprofit accounting statements in determining the fiscal position of
various entities using appropriate tools of the discipline
Select accounting methods appropriate to the differentiated needs of governmental and nonprofit
organizations
Determine appropriate strategies for effectively communicating the differences between private
sector, governmental, and nonprofit reporting to
stakeholders
Prompt

2. You are the accountant for a nonprofit organization. Your job requires that you prepare journal
entries, post to ledgers, and prepare financial statements. Using
the Final Project Two Case Study document and Final Project Two Student Workbook
spreadsheet provided, you will prepare an accounting workbook, which
includes supporting journals. The supporting journals will be used in preparation of the financial
statements. Finally, you will prepare a three- to five-page memo
explaining the reports to management. In your memo, you will also discuss how the statements
would be different if your organization was private for-profit or
government operated.
Specifically, the following critical elements must be addressed:
I. Prepare an accounting workbook with supporting journals.
a) Analyze all transactions in the Final Project Two Case Study document and Final Project Two
Student Workbook spreadsheet to determine
proper handling.
b) Record all journal entries.
c) Use journal entries to prepare financial statements.
II.
Prepare a memo to management
a) Analyze the results of operations, including what the results tell the readers about the
organization.
b) Explain what the statements tell about the strengths and weaknesses of the organization’s
financial position.
c) Discuss how the accounting and statements would be different if the organization was
for-profit.
d) Discuss how the accounting and statements would be different if the organization was
government-operated.
If you would like a refresher course on using various features of Excel, sign in to Atomic Learning
(see the link in the Assignment Guidelines and Rubrics folder)
and type “Excel” in the search box. This will provide you with options to select the specific level of
training that you need (i.e., intro, intermediate, or advanced)
and the specific version of Excel that you have (i.e., 2011, 2013, etc.). The trainings are broken
down into small, meaningful chunks. Therefore, you should be able
to find specific topics at each level that will meet your needs.
Final Project Two Rubric
Guidelines for Submission: You will submit your completed Final Project Two Student Workbook,
and include the required entries, statements, and schedules
using the appropriate Excel worksheet. Your memo to management must be 3–5 pages in length
(plus a cover page and references) and must be written in APA
format. Use double spacing, 12-point Times New Roman font, and one-inch margins.
Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view
instructor feedback in the Grade Center. For more information,
review these instructions.
Critical Elements
Workbook:

3. Transaction Analysis
Exemplary (100%)
Accurately analyzes and records
all transactions
Workbook: Journal
Entry Records
Records all journal entries
accurately
Proficient (85%)
Workbook: Financial
Statements
Prepares financial statements
correctly
Report: Results of
Operations
Meets “Proficient” criteria and
uses concrete examples to
substantiate claims
Analyzes the results of
operations and describes what
the results demonstrate about
the organization
Report:
Organization’s
Financial Position
Meets “Proficient” criteria and
uses concrete examples to
substantiate claims
Identifies the organization’s
financial strengths and
weaknesses, focusing on
specific financial information
Report: For-Profit
Changes in
Operations

4. Meets “Proficient” criteria and
explains why these differences
are necessary
Explains how the accounting
and statements would be
different if the organization was
for-profit
Needs Improvement (55%)
Analyzes and records all
transactions but transactions
contain inaccuracies
Not Evident (0%)
Does not record transactions
Value
13
Records all journal entries but
journal entries contain
inaccuracies
Prepares financial statements
with inaccuracies
Does not record journal entries
13
Does not prepare financial
statements
13
Analyzes the results of
operations and/or describes
what the results demonstrate
about the organization but
submission is not clear or
contains inaccuracies
Identifies the organization’s
financial strengths and
weaknesses but information is
not clear, too general, or
contains inaccuracies
Discusses how the accounting

5. and statements would be
different if the organization was
for-profit but explanation is not
clear or lacks details
Does not analyze the results of
operations
13
Does not identify the
organization’s strengths and
weaknesses
13
Does not discuss how
accounting statements would
be different if the organization
was for-profit
13
Report: GovernmentOperated Changes in
Operations
Meets “Proficient” criteria and
explains why these differences
are necessary
Explains how the accounting
and statements would be
different if the organization was
government-operated
Articulation of
Response
Submission is free of errors
related to citations, grammar,
spelling, syntax, and
organization and is presented in
a professional and easy-to-read
format
Submission has no major errors
related to citations, grammar,
spelling, syntax, or organization

6. Discusses how the accounting
and statements would be
different if the organization was
government-operated but
explanation is not clear or lacks
details
Submission has major errors
related to citations, grammar,
spelling, syntax, or organization
that negatively impact
readability and articulation of
main ideas
Does not discuss how
accounting statements would
be different if the organization
was government-operated
12
Submission has critical errors
related to citations, grammar,
spelling, syntax, or organization
that prevent understanding of
ideas
10
Earned Total