Lifelong Learning for a Brighter World

Jing Zhou, McMaster University Continuing Education Accounting graduate Jing Zhou, McMaster University Continuing Education Accounting graduate


Cheques and balances. It all adds up.

Work towards your CPA designation!

ACC 942 - Not for Profit Accounting and Related Topics C31

Academic Credit Value:
3 units
Course Delivery Mode:
Online Self-Study (OSS)
Hours of Study:
39 hours
Course Prerequisite(s):
All core and specialist courses, as well as accounting software application (ACC 946), must have been completed before taking this course. Students must also have completed the Ethics and Workplace Skills (ACC 940) course or be taking it concurrently.
Course Anti-requisite(s):
Instructor Name:
Glenn Skrubbletrang
Course Dates:
09/15/2019 - 01/04/2020

Required Course Materials:
Optional Course Materials:
Course Description:

Students are advised to retain course outlines for future use in support of applications for employment or transfer of credits.
Refer to the Policy & Procedure section for further course and Centre for Continuing Education (CCE) information.

Not for Profit Accounting and Related Topics is a foundation course in accounting for not-for-profit organizations, with an emphasis on the application of accounting concepts encountered in the not-for-profit and charities sector. It also includes an overview of government (public sector) financial reporting standards. The purpose of this course is to produce a mid-level accountant with skills in the not-for-profit sector able to function in environments of low to mid-level complexity with low levels of uncertainty. This course will focus on applied knowledge, using authentic not-for-profit scenarios that require you to demonstrate the application of technical knowledge. Accounting software is integrated throughout the course to help you develop the skills needed in the marketplace. In addition, this course will help you develop other skills such as communication, managing and analyzing information, solving routine problems and effectively promoting personal management and teamwork.​

Learning Outcomes:

•          Explain the basic process for setting up a not-for-profit and obtaining charitable status.
•          Describe the basics of charitable governance.
•          Explain the major financial reporting issues in not-for-profit organizations.
•          Explain the basics of accounting for and reporting contributions under the restricted       fund and                     deferred contribution methods.
•          Understand the purpose and accounting for endowments.
•          Explain the approaches to measuring and valuing outputs.
•          Compare and contrast performance measurement in NFPOs and profit-oriented organizations.
•          Explain the concept of the public sector and determine the Handbook applicable to each component                
of the public sector.

•          Describe the objectives of public sector financial statements.

Course Evaluation

The final grade is calculated based on the following components:

Exam (60%)
Discussions (20%)
Term Project (20%)

The final exam must be written on or before your course end date/final exam date. Students who have submitted all assignments ahead of schedule may opt to write their final examination prior to the posted examination/course end date. Although students are permitted to accelerate through course material, no student will be permitted to schedule/sit the final examination earlier than two (2) months post course start date. After the final exam is written no further assignment submissions will be accepted.
Course Format:

This course is designed to present the fundamental concepts and theories in Not for Profit Accounting and promote the application to the workplace and professional practice. Course activities will include instructor presentations, required readings and experiential learning activities (i.e. case studies, group discussions, projects, etc.).

Assignment Submission:
Course assignments are submitted to the appropriate A2L Assignment folder by the specified due date
Late Coursework:

Late assignments will be subject to a 2% per day late penalty (includes weekends and holidays) for up to seven (7) days. After this date, no assignments will be accepted and a grade of zero (0) will be applied. Extensions for course work must be approved by the instructor before the due date (see Academic Regulations below), and will be granted for illness or emergencies only. Students may be asked to submit supporting documentation for an extension request.   

Policy & Procedures:

Academic Regulations (Attendance, Coursework, Tests/Exams):

In accordance to McMaster University’s General Academic Regulations, it is imperative that students make every effort to meet the originally scheduled course requirements and it is a student’s responsibility to write examinations as scheduled. Therefore, all students are expected to attend and complete the specific course requirements (i.e. attendance, assignments, and tests/exams) listed in the course outline on or by the date specified. Students who need to arrange for coursework accommodation, as a result of medical, personal or family reasons, must contact the course instructor within 48 hours of the originally scheduled due date. It is the student’s responsibility to contact the Program Manager to discuss accommodations and procedures related to deferred tests and/or examinations within 48 hours of the originally scheduled test/exam, as per policy. Failure to contact the course instructor, in the case of missed coursework, or the Program Manager, in the case of a missed test/examination, within the specified 48-hour window will result in a grade of zero (0) on the coursework/exam and no further consideration will be granted.


*Note: Supporting documentation will be required but will not ensure approval of accommodation(s).

Academic Integrity

You are expected to exhibit honesty and use ethical behaviour in all aspects of the learning process. Academic credentials you earn are rooted in principles of honesty and academic integrity. Academic dishonesty is to knowingly act or fail to act in a way that results or could result in unearned academic credit or advantage. This behaviour can result in serious consequences, e.g. the grade of zero on an assignment, loss of credit with a notation on the transcript (notation reads: “Grade of F assigned for academic dishonesty”), and/or suspension or expulsion from the university.


It is your responsibility to understand what constitutes academic dishonesty. For information on the various types of academic dishonesty please refer to the Academic Integrity Policy, located at


The following illustrates only three forms of academic dishonesty:

1.     Plagiarism, e.g. the submission of work that is not one’s own or for which other credit has been obtained.

2.     Improper collaboration in-group work.

3.     Copying or using unauthorized aids in tests and examinations.

Academic Accommodations:

Students with disabilities who require academic accommodations must contact the Student Accessibility Centre (SAS) to meet with an appropriate Disability Services Coordinator. To contact SAS, phone 905-525-9140 ext. 28652, or email For further information, consult McMaster University’s Policy for Academic Accommodation for Students with Disabilities.

On-line Elements:
In this course, we will be using on-line elements, which may include email, Avenue to Learn, WebEX, and external web sites.  Students should be aware that, when they access the electronic components of this course, private information such as first and last names, user names for the McMaster e-mail accounts, and program affiliation may become apparent to all other students in the same course. The available information is dependent on the technology used. Continuation in this course will be deemed consent to this disclosure. If you have any questions or concerns about such disclosure please discuss this with the course instructor.
In this course, we may a web-based service ( to reveal plagiarism. Students will be expected to submit their work electronically to and in hard copy so that it can be checked for academic dishonesty. Students who do not wish to submit their work to must still submit a copy to the instructor. No penalty will be assigned to a student who does not submit work to All submitted work is subject to normal verification that standards of academic integrity have been upheld (e.g., on-line search, etc.). To see the Policy, please go to McMaster Academic Integrity Policy.
Course Changes:

The instructor reserves the right to modify elements of the course and will notify students accordingly.

Course Withdrawal Policy:

Policies related to dropping a course and course withdrawals are posted to the Centre for Continuing Education’s program webpage, FAQs & Policies (

Storm Closure Policy:
In the event of inclement weather, the Centre for Continuing Education will abide by the University’s Storm Closure Policy:, and will only close if the University is closed. All in-class courses, exams and room bookings by internal and external clients will be cancelled if the Centre for Continuing Education is closed. On-line courses will take place as scheduled.
Grading Scale:


Equivalent Grade Point

Equivalent Percentages








































Course Schedule:


Assignments/Graded Components

Module 1: Introduction to Not-For-Profit Organizations, Part 1

Discussion (2%)

Module 2: Introduction to NFPOs, Part 2

Discussion (2%)

Module 3: Governance and Oversight

Discussion (2%)

Module 4: Financial Statement Concepts

Discussion (2%)

Module 5: Fund Accounting, Part 1

Discussion (2%)

Module 6: Fund Accounting, Part 2

Discussion (2%)

Module 7: Deferral Accounting, Part 1

Discussion (2%)

Module 8: Deferral Accounting, Part 2

Discussion (2%)

Module 9: Registered Charities

Discussion (2%)

Term Project (20%)

Module 10: Public Sector Accounting

Discussion (2%)

Module 11: Governance and Control in the Cloud


Module 12: Course Review

Final Exam (60%)