| The study was designed to determine appropriate content for the Fund Accounting topic offered in college accounting programs to aid in ensuring that accounting graduates have adequate preparation for accounting positions with nonprofit entities.;Two questionnaires, containing the same fifty-seven nonprofit accounting principles and different demographic variables, were developed with the input from a panel of experts. These were mailed nationally to Accounting Educators and Chief Accountants employed by nonprofit hospitals, nonprofit colleges, and municipalities. The respondents indicated (1) the nonprofit accounting principles that are in current usage and (2) the principles respondents believed are appropriate.;The findings were based on the responses of 129 Accounting Educators and 153 Chief Accountants. The findings are as follows: (1) Accounting Educators and Chief Accountants of nonprofit entities sampled do not possess the same views regarding the nonprofit accounting principles that are being followed in actual practice and the principles that are being taught in college accounting programs. The three groups of Chief Accountants also possess different views as to which nonprofit accounting principles should be followed. (2) Accounting Educators and Chief Accountants of nonprofit entities sampled do not possess the same views regarding the nonprofit accounting principles which should be followed and should be taught in college accounting programs.;Based on the data obtained from Chief Accountants and Accounting Educators regarding their perceptions of the appropriate nonprofit accounting principles, a curriculum framework was developed. The framework was divided into three units, each covering one of the three types of nonprofit entities included in this study, namely, municipalities, nonprofit colleges, and nonprofit hospitals. The areas covered by the principles are: basis of accounting, fixed assets and depreciation, fund accounting techniques, financial statement reporting, and financial statement disclosures in notes and supporting schedules. Several of the principles that are recommended in the curriculum framework are: (1) accrual basis of accounting, (2) capitalize fixed assets at time of acquisition, (3) classify assets and liabilities into balanced fund groups using a fund system, (4) report each fund balance on the financial statements at the end of the period, and (5) disclose changes in accounting principles. |
