Accounting for Not for Profit Organizations Paper its an individual project in second year accounting class, and I will post all the instructions. please read it carefully, the projec requires you to do research on a Canadian not-for-profit organizations (NPOs) involved in charitable/not-for-Profitctivitiesand comment on how they undertake their Financial Reporting to the public based on rules established by the Canadian Institute of Chartered Accountants (CICA) in comparison to those financial statements pre pared by publicly-traded companies and all sources should come with clear references Project on Accounting for Not-for-profit Organizations (10%)
This project is a worth of 10% of your final grade and is based on the submitted research paper..
The project requires you to do research on a Canadian not-for-profit organizations (NPOs)
involved in charitable/not-for-Profit activities and comment on how they undertake their Financial
Reporting to the public based on rules established by the Canadian Institute of Chartered
Accountants (CICA) in comparison to those financial statements prepared by publicly- traded
companies.
There are suggested readings posted on the Brightspace to read prior to doing the paper. It is
important you start this paper EARLY as students in the past have had problems getting the
information from NPOs.
The requirements for the research paper are described below:
1. The project is done individually. The paper is due on Aug 23, 2019, at 11am. You should
submit the project by email (jenny.zhang@dal.ca). No late submissions will be accepted,
and if your submission is late, you wi receive a zero grade on your research project. (The
“Final exam date” form was supposed to be due by June 25, 2019. It turned out that quite a
few students submitted the form late. Being a business student, you are expected to behave in
a professional manner. Do not be late! Please note that for research project, I will NOT
accept any late submission.)
2. Read the CICA regulations on Not-for-Profit and the Not-for-Profit Summary paper and paper
on Public Sector Accounting. (Posted on BrightSpace)
to
find
& select
one
Canadian
Non-for-Profit
3. Conduct
an Internet search
Organization/Charity.
4. Obtain the audited Financial Statements (or complete Annual Reports) for the organizations
for the 2016 and 2017 years. If the organization will not provide you copies, find another
organization to research.
Your Submission should include the following Sections:
1) Summarize both the purpose and nature of the Financial Reporting Requirements in the
Financial Reporting Rules for Not-for-profit organizations. (max. 1 page double-spaced).
Identify the differences that you see when comparing for-profit corporations’ Financial
Statements to a Not-for-Profit Organization’s Financial Statements.
2) A brief write-up of what the organization does, its main purpose of being (max. 1 page
double-spaced). A footnote reference of the Financial Statements for 2016 & 2017.
3) A brief Summary, in point-form, of what the organization is doing to generate its cash (i.e.
Sources) and the reasons for its major areas of Spending (i.e. Uses). (max.1 page double-
spaced)
4) For each fiscal year (2016 & 2017), determine the amount of the organization’s
Revenue/Fees that is used for specific programs, and the amount the goes to pay for
Administrative costs (Non-program related) as a percentage (%) of Total Revenue/Fees for
the period.
5) Review the Auditor’s Report for both years identified and answer the following question:
“Does your organization adhere/follow the current Financial Reporting Accounting
Rules for Not-for-profit organizations”?
This is the key question for you to answer. If the auditor says “NO”, the organization did
not follow the rules, what specifically did they do that did not adhere to the rules? (max. 1
page double-spaced).
6) Comment on what you have learned about your organization, and how you feel it is doing
at fulfilling its mission/purpose and raising both Funds and Awareness for its cause(s) in
the public domain. Explain the reasons for your conclusions.
7) You should submit a research paper that does not exceed 6 pages (not including appendices
and exhibits), double-spaced. All numbers and calculations should be placed in exhibits
and explained in the report.
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