Blessing the children in canadaBachelor of Management
Due Date…..April 6, 2014
You are required to write a brief paper on one Canadian Not-for-Profit Organization of your choice. This project can be done individually or in groups up to 3 students.
The paper must be done in Wore and / or Excel. submit hard copy in class,. NO LATE SUBMISSIONS will be accepted.
The purpose of this Project is to review the rules associated with Accounting for Non- Profit Organizations (NPO’s). The project requires you to:
o do research on a Canadian NPO involved in charitable/not-for-profit activity, and
o comment on how they undertake their financial reporting to the public based on rules established by the Canadian Institute of Chartered Accountants (CICA).
There is a suggested reading posted on the BbLearn (OWL); websites with more information on accounting for NFP’s are identified. This Research Project will require you to apply the topics covered in the MGMT2010. Specifically, you are expected to be familiar with:
o revenue recognition criteria,
o financial statement preparation principles,
o how the financial statements are produced, and
o the financial statements reporting requirements for organizations.
1) Read the CICA regulations on Non-Profits and the Not-for-Profit summary paper and paper on Public Sector Accounting. (Posted in NFP folder on BbLearn/OWL)
2) Conduct an Internet search to find & select a Canadian Non- Profit Organization / Charity.
3) Obtain the most recent Audited Financial, 2013 and 2012. (Lots on the web to download: search: Canadian NFP Financial Statements.)
Your submission should include the following sections:
1) INTRODUCTION: Describe your NFP. Max.1 page double-spaced
2 ) FINANCIAL REPORTING Max.1 page double-spaced
Refer to the financial reporting rules for NFP’s. Summarize what you think are the PURPOSE AND NATURE of the reporting rules.
Compare the NFP financial reporting to the for profit financial reporting covered in class. Specifically identify differences that you see when comparing for profit financial statements to your NFP’s financial statements.
3) AUDITOR’S REPORT Max.1 page double-spaced
Review the auditor’s report for both years and answer the following question:
“Does your Organization adhere to / follow the current Financial Reporting/Accounting Rules for NFP’s”?
If the auditors say “NO” they did not follow the rules, what specifically did they do that did not adhere to the rules?
3) PERFORMANCE ASSESSMENT Max. 1.5 pages double-spaced
a. Summarize, in point-form, the:
o cash sources, and
o major areas of expenditures.
b. For each fiscal year (2013 & 2012), determine the amount of:
o the revenue/fees used for specific programs, and
o administrative costs (non-program related) as a percentage of total revenue/fees for the period.
c. Comment on :
o what you have learned about the organization,
o how well it is fulfilling its mission/purpose, and
o effectiveness in raising both funds and awareness for its cause(s) in the public domain.
Explain the reasons for your conclusions.
VERY VERY VERY IMPORTANT
Provide proper citations / references. Plagiarism will evoke severe penalties.
LATE SUBMISSIONS WILL NOT BE ACCEPTED.
You can submit your research paper anytime during the term, before or on the due date.