Nonprofit accounting
Timeline
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September 11, 2024Experience start
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October 1, 2024Team Contract
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October 1, 2024Submit Your Project Agreement
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December 5, 2024Experience end
Timeline
-
September 11, 2024Experience start
-
October 1, 2024Team Contract
Your team contract template is divided into three major sections:
1. Establishing team procedures
2. Identifying expectations
3. Specifying the consequences for failing to follow these procedures and fulfill these expectations
The Team Contract will help your group effectively manage the project workload and complete a high quality deliverable. It will also establish your team's agreed upon expectations and plan of action if any member is not honouring their commitment to the project work.
-
October 1, 2024Submit Your Project Agreement
During your onboarding meeting with your project supervisor, please discuss and complete the project agreement.
This agreement will document the agreed upon project scope and deliverables, define what is not in scope.
Amendments
Both parties can agree to amend the project deliverables as the project progresses so long as the project deliverables remain within the knowledge, skill, and abilities of the student(s) and continues to align with topic and theory of the course the project is occurring in, and there is:
- Mutual Agreement: Changes must be agreed upon by both parties.
- Written Documentation: All amendments must be documented in writing.
- Feasibility Check: Ensure changes are feasible and within the project’s original parameters.
-
December 5, 2024Experience end
Categories
AccountingSkills
financial statements accounting systems scheduling accounting software student placements business process accounting bookkeepingCommunity Engaged Learning
Accounting students will help with your accounting and bookkeeping tasks, spending approximately 20 hours in total over a period of 1 to 3 months, depending on the fit of student schedules to your accounting cycle.
How this works
Students will select a Community Partner (CP) in the first week of classes and meet with their CP to establish their scope of work (key tasks) and a work schedule. Community partners may host more than 1 student but a separate scope and work schedule must be prepared for each student. CPs are asked to identify work that is mandatory to complete on-site versus work that can be completed remotely. As well, CPs should identify any requirement for tasks to be completed within a specific time/day so that appropriate scheduling can be undertaken with the student(s).
- The resulting scope and work schedule is documented in a placement expectations agreement that reflects 20 hours of total work. The agreement is signed by the CP and student. The student provides a copy to the professor.
- The CP is responsible for notifying the student and professor of attendance or performance concerns as soon as they arise.
- At the end of the learning opportunity, the CP submits a feedback report that states the completed tasks, total hours of work, and general feedback/comments on the student’s performance.
What you get
Basic accounting and bookkeeping support.
Requirements to participate
- Provide work tasks in accordance with the program’s scope.
- Sign a placement expectations agreement.
- Provide knowledgeable support and supervision of the student (i.e. students will have questions!)
- Understand that the student’s skill set at the beginning of the placement will be rudimentary (e.g., they will be able to complete basic journal entries and create financial statements but they are not familiar with your business processes and/or your accounting software). Consequently, the CP is expected to provide training as some students might not have been exposed to those elements so far (e.g., year-end reports).
- Provide access to accounting systems so that the scope of work can be completed in a timely manner.
- Strive to be ready to start the student placement in the second/third week of January.
Project timeline
-
September 11, 2024Experience start
-
October 1, 2024Team Contract
-
October 1, 2024Submit Your Project Agreement
-
December 5, 2024Experience end
Timeline
-
September 11, 2024Experience start
-
October 1, 2024Team Contract
Your team contract template is divided into three major sections:
1. Establishing team procedures
2. Identifying expectations
3. Specifying the consequences for failing to follow these procedures and fulfill these expectations
The Team Contract will help your group effectively manage the project workload and complete a high quality deliverable. It will also establish your team's agreed upon expectations and plan of action if any member is not honouring their commitment to the project work.
-
October 1, 2024Submit Your Project Agreement
During your onboarding meeting with your project supervisor, please discuss and complete the project agreement.
This agreement will document the agreed upon project scope and deliverables, define what is not in scope.
Amendments
Both parties can agree to amend the project deliverables as the project progresses so long as the project deliverables remain within the knowledge, skill, and abilities of the student(s) and continues to align with topic and theory of the course the project is occurring in, and there is:
- Mutual Agreement: Changes must be agreed upon by both parties.
- Written Documentation: All amendments must be documented in writing.
- Feasibility Check: Ensure changes are feasible and within the project’s original parameters.
-
December 5, 2024Experience end
Project Examples
Types of accounting tasks students could perform:
- Accounts payable or receivable
- Inventory management
- Journal entries
- Account reconciliations
- Charitable receipt generation – for Not-for-profit
- Bank reconciliation
- Budgets and related forecasts and variance analysis
- Payroll
- Prepare monthly or year end financial statements with notes
… or other tasks related to accounting or bookkeeping.
Note that students are NOT available for fundraising activities and clerical work.
Timeline
-
September 11, 2024Experience start
-
October 1, 2024Team Contract
-
October 1, 2024Submit Your Project Agreement
-
December 5, 2024Experience end
Timeline
-
September 11, 2024Experience start
-
October 1, 2024Team Contract
Your team contract template is divided into three major sections:
1. Establishing team procedures
2. Identifying expectations
3. Specifying the consequences for failing to follow these procedures and fulfill these expectations
The Team Contract will help your group effectively manage the project workload and complete a high quality deliverable. It will also establish your team's agreed upon expectations and plan of action if any member is not honouring their commitment to the project work.
-
October 1, 2024Submit Your Project Agreement
During your onboarding meeting with your project supervisor, please discuss and complete the project agreement.
This agreement will document the agreed upon project scope and deliverables, define what is not in scope.
Amendments
Both parties can agree to amend the project deliverables as the project progresses so long as the project deliverables remain within the knowledge, skill, and abilities of the student(s) and continues to align with topic and theory of the course the project is occurring in, and there is:
- Mutual Agreement: Changes must be agreed upon by both parties.
- Written Documentation: All amendments must be documented in writing.
- Feasibility Check: Ensure changes are feasible and within the project’s original parameters.
-
December 5, 2024Experience end