PBS 116 provides students with the opportunity to:1. Understand the dynamic environment of public budgeting and finance.
2. Understand the interrelationship of the accounting system and the budgeting system.
3. Become familiar with accounting practices of governmental and not-for-profit organizations (tracking financial information).
4. Develop an understanding of financial statements.
5. Develop an understanding of the budgetary process (approval, adoption, and allocation).
6. Develop an understanding of budgeting and financial terminology.
This course is desigend for distance learners. it is imperative that students submit assignments in a timely fashion. ELI policies and procedures apply. Please review these at the beginning of the course: ELI Policies and Procedures
Accounting and Budgeting in Public and Nonprofit Organizations, C. William Garner. Jossey-Bass Publishers 1991.
Your final grade will be determined as follows:
Graded Activity Points First Exam 10 Second Exam 10 Third Exam 10 Fourth Exam 10 Homework 12 Budget Analyses (7 pts each) 21 Budget Analyses Response (7 pts. each) 21 Article Reports(2 ½ each) 5 Article Report Responses (2 ½ each) 5 TOTAL 104 Grading Scale:
# of Points Grade 90 or more A 80-89 B 70-79 C 60-69 D below 60 F Testing Policies: Tests will be prepared and graded by your instructor.
You need to take your examinations at one of the NVCC campus Learning Resource Centers (LRCs) or with a proctor by prior arrangement. Before you go, print the Exam Pass page and cut off the appropriate pass for the exam you want to take. Click here for more information about ELI examination procedures..
Introduction to Budgeting and AccountingIn this unit your work will focus on the following objectives:
· Understand the dynamic environment of public budgeting and finance
· Understand the interrelationship of the accounting system and the budgeting systemRead: Remainder of this COURSE GUIDE
Skim the remainder of this COURSE GUIDE to see the kinds of work that will be required.
Read:
- Unit 1 Supplemental Information
- Textbook, Chapter 1
Purpose: The purpose of the textbook readings is to present the information and concepts that you are to learn.Directions: Read the textbook chapter. Try to focus on learning what the objectives specify. After reading the chapter, review the chapter learning objectives for reinforcement.
Submit: Article Review #1
Purpose: The purpose of the article review is to help you make connections with textbook theory.
Directions: Find a newspaper or magazine article related to a budget issue and write a summary using the Article Review Form provided at the end of the Course Guide. Post your review to the Article Review #1 discussion forum.
Submit: Chapter 1 Review Questions
Purpose: The purpose of chapter review questions is to reinforce reading assignments.
Directions: Answer the questions after reading the chapter (and any course material related to that topic). Use complete sentences, good grammar, correct spelling, etc. Remember that you are being graded for answering the homework questions and that your Exam questions are based on these homework questions. Chapter Review Questions are at the end of the Course Guide. Submit your answers to Chapter 1 Review Questions discussion forum.
Read: Chapter 2 Homeowners Association Budgets (located at end of Course Guide)
Submit:Retrieve:
- Chapter 2 Review Questions to Chapter 2 Review Questions discussion forum
- Article Review Response to Article Review #1 discussion forum
Read: Chapter 3
- Fairfax County Budget from their Web Site
- County Budget (not a Northern Va county)
Submit:Take: Exam 1
- Chapter 3 Review Questions to Chapter 3 Review Questions discussion forum
- Budget Analysis #1 (directions located at end) to Budget Analysis #1 discussion forum
- Budget Analysis Response to Budget Analysis #1 discussion forum
Exam 1 will consist of 10 short answer/essays from Chapters 1-3. Allow 1 hour to complete the exam. Remember, you must pass at least 2 of the 4 exams to pass the course, regardless of your grades on the other assignments.
The Budgeting System and the Language of AccountingIn this unit your work will focus on the following objectives:
- Understand the interrelationship of the accounting system and the budgeting system.
- Become familiar with accounting practices of governmental and not-for-profit organizations (tracking financial information)
- Develop an understanding of the budgetary process (approval, adoption, and allocation).
- Develop and understanding of budgeting and financial terminology
Read:
- Unit 2 Supplemental Information
- Textbook, Chapter 4
Submit: Chapter 4 Review Questions to Chapter 4 Review Questions discussion forumRetrieve: U.S. Dept. of Education Budget (Web Site)
Article Review: For the second article review, follow the same directions used for the first article review. Submit to the Article Review #2 discussion forum.
Read: Textbook, Chapter 5
Submit:
- Chapter 5 Review Questions to Chapter 5 Review Questions discussion forum
- Article Review Responses to Article Review #2 discussion forum
Read: Textbook, Chapter 6Submit: Chapter 6 Review Questions to Chapter 6 Review Questions discussion forum
Retrieve:
Submit: Budget Analysis #2 to Budget Analysis #2 discussion forum
- Commonwealth of Virginia Budget (Web Site)
- University of Virginia Budget (Web Site)
- State Budget (not Virginia)
Take: Exam 2
WHAT TO EXPECT: Exam 2 will consist of 10 short answer/essays from Chapters 4 - 6. Allow 1 hour to complete the exam. Late exams will not be accepted. Remember, you must pass at least 2 of the 4 exams to pass the course, regardless of your grades on the other assignments.
Accounting Processes and Financial StatementsIn this unit your work will focus on the following objective:
· Become familiar with accounting processes
· Develop an understanding of financial statementsRead:
Submit:
- Unit 3 Supplemental Information
- Textbook, Chapter 7
- Chapter 7 Review Questions to Chapter 7 Review Questions discussion forum
- Budget Analysis #2 to Budget Analysis #2 discussion forum
- Budget Analysis Response to Budget Analysis #2 discussion forum
Read: Textbook, Chapter 8Submit: Chapter 8 Review Questions to Chapter 8 Review Questions discussion forum
Read: Textbook, Chapter 9
Submit: Chapter 9 Review Questions to Chapter 9 Review Questions discussion forum
Take: Exam 3
WHAT TO EXPECT: Exam 3 will consist of 10 short answer/essays from Chapters 7- 9. Allow 1 hour to complete the exam. Late exams will not be accepted. Remember, you must pass at least 2 of the 4 exams to pass the course, regardless of your grades on the other assignments.
End of Period Accounting and Performance MeasurementsIn this unit your work will focus on the following objectives:
· Develop an understanding of end of period accounting procedures
· Develop an understanding of performance measurementsRead:
Submit:
- Unit 4 Supplemental Information
- Textbook Chapter 10
- Performance Measurement Guide (Fairfax County Web Site
Read: Textbook, Chapters 11
- Chapter 10 Review Questions to Chapter 10 Review Questions discussion forum
- Performance Measurement Review Questions to Performance Measurement Review Questions discussion forum
Submit:
Take: Exam 4
- Chapter 11 Review Questions to Chapter 11 Review Questions discussion forum
- Budget Analysis #3 to Budget Analysis #3 discussion forum
- Budget Analysis Response to Budget Analysis #3 discussion forum
WHAT TO EXPECT: Exam 4 will consist of 10 short answer/essay questions from Chapters 10, 11, Performance Measurements. Allow 1 hour to complete the exam. Late exams will not be accepted. Remember, you must pass at least 2 of the 4 exams to pass the course, regardless of your grades on your other assignments.
Please answer the questions after reading the chapter (and any course material related to that topic). Use complete sentences, good grammar, correct spelling, etc. Post your responses to the appropriate Chapter Review Questions Forum following the directions for posting forum responses. Look at the responses from other students and compare your answers to theirs. Remember that you are being graded for answering the questions and that your Exam questions are based on these questions.
Your article review should be based on an article in a popular print medium (newspaper or magazine not an academic journal). The article should address a budget item or budgetary subject.[...]The article review should:
- List the publication title, date, page number, etc.
- Include a summary of the article and why it is relevant to the class
- Describe: what organizations are involved (e.g., VDOT, the legislature, etc.),
- What organizations are impacted (e.g., small businesses, the tobacco industry, etc.),
- What people are impacted (e.g., retirees, all citizens, etc.),
- The important issues raised (e.g., eliminating the personal property tax will reduce state revenues),
- What important facts the author uses to support the issues raised in the article,
- Your personal opinion of the issues raised and what you would do about them,
- Whether any of the issues raised in the article addressed in your textbook and if so, what did your textbook contribute or not contribute to your understanding of the issues,
- Whether you think the reporter told the whole story in an unbiased, straightforward manner,
- Whether any new or unusual terms used in the article (& if so, what were they).
Article Review Response InstructionsThe article review responses involve the students selecting another student's article report and from the article review only (do not read the original article) write a report that includes:
- Putting the summary into your own words,
- Where the issues raised by the article explained by the student so that you could understand them,
- Did your textbook address any of these issues,
- Why do you think your textbook did or did not address the issues mentioned,
- What is your opinion of the issues raised in the article,
- How do you feel about the issues raised,
- What would you do about the issues raised if you were in a position to impact the decision/policy/proposal, How does that differ from what the other student recommended.
The budgets we look at in class and those you choose to analyze will give you the opportunity to see how various governments and nonprofits present their budgets. We will look at a variety of budgets with different formats and contents. Your analyses of the budgets will involve your viewing and printing the budget from the WEB and answering at the very least:
- What is the name of the organization,
- What do they do (what is their mission),
- How many employees do they have (paid versus volunteer),
- How many people do they serve (e.g., for a university how many people took classes, graduated, etc.),
- Percent of total expenses above the line (definition of above the line vs. Below the line in the textbook),
- Percent of expenses below the line,
- Biggest expense other than salaries and why you think this is the case,
- Revenue sources,
- Do they have a budget calendar and, briefly, what is it,
- What accounting methods are used or followed,
- What questions were you left with after looking at this organization's budget (list at least three),
- Was the budget and any of the other material easy to read,
- What was some of the additional material,
- Was the budget easy to understand.
Budget Analysis Response InstructionsThe budget analysis response assignment involves your review of another student's budget analysis. You will need to read their analysis as well as the budget they analyzed (you will need to view and print it from the WEB). At the very least you should answer:
- Organization,
- Where are they located (city, state, etc.),
- Who is the chief budget officer,
- Who is the budget office contact person (not web page contact person),
- How can the budget contact person be contacted (please list all the ways),
- Are the budget items explained (what the various revenue sources are, what the expenses include or do not include, etc.) List two and why you think they are explained (do they explain how salaries were estimated),
- Do they explain how revenues were estimated, if so how,
- Do the revenue estimates seem reasonable,
- What is the largest expense category and why would this organization have this as their largest expense,
- Was the budget easy to read,
- Was the information for the response easy to find,
- What would have made the information easier to find.
During this course you will be accessing various budgets from the World Wide Web. You will want to print the budgets and other pertinent documents that will be mentioned elsewhere. Some of these will serve as a prelude (to be used as practice) to the budgets that you will be analyzing and responding to other students' analyses. The budgets you access to look at (versus analyze) are good examples of certain types of budgets (county, state, university, federal agency). These serve as models of what typical budgets for that type of organization look like, contain, etc. They provide you a framework or benchmark to compare the budgets you select for analysis. These budgets were chosen because they are representative of good budgets for those types of organizations and will serve as comparisons to the budgets you choose to analyze and analysis responses. Compare the types of information presented (what do they all seem to provide), the various ways the information can be presented, the additional information (notes to the statement, financial schedules, explanations, etc.).