Week 2 of ACCT 353

Class was cancelled, but the learning continues. Our homework (problem 3-12 part a, pg. 83 of text) involves journal entries...as does basically all accounting homework, ever.

Did You Know? The earliest human whose name has been recorded was an accountant! His name was Kushim, and he recorded a transaction on the tablet above, dated to 3100 BCE, which states: "A total of 29,086 measures of barley were received over the course of 37 months. Signed, Kushim." 

Did You Know?

The earliest human whose name has been recorded was an accountant! His name was Kushim, and he recorded a transaction on the tablet above, dated to 3100 BCE, which states: "A total of 29,086 measures of barley were received over the course of 37 months. Signed, Kushim." 

Pictured: Journal entries for homework assignment

Pictured: Journal entries for homework assignment

Week 1 of Accounting 353: Accounting for Nonprofit Organizations

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Paul Thompson

Board Member

& Student

Board Member Paul Thompson is enrolled in "ACCT 353: Accounting for Nonprofit Organizations" at the University of Louisville, and will be updating this weekly blog describing the course content, lectures, and material.

Week 1 began the same as most college classes, with an introduction by the Professor, Dr. Archie Faircloth, Associate Professor of Accountancy at the College of Business - and a discussion of the syllabus. Additionally, we took a brief look at the modified accrual method of accounting, and the concept of encumbrances; we were also assigned readings in "Essentials of Accounting for Governmental and Not-for-Profit Organizations, 12th Edition" (Chapters 1-3, with special attention to Chapter 3).

Required textbook for ACCT 353

Required textbook for ACCT 353

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Professor Faircloth

Local millionaire