Government And Non-profit Accounting – acc460 (3 credits)

This course covers fund accounting, budget and control issues, revenue and expense recognition, and issues of reporting for both government and non-profit entities.

This undergraduate-level course is 5 weeks. This course is available to take individually or as part of a degree or certificate program. To enroll, speak with an Enrollment Representative.

Fund Accounting Part I

  • Differentiate between government-wide financial statements and fund statements.
  • Explain the principles of fund accounting and revenue recognition.
  • Explain how encumbrances affect expenses and expenditures on a governmental budget.
  • Explain how governments account for capital projects and debt service funds.

Fund Accounting Part II

  • Apply accounting procedures for recognizing revenues and other budgetary resources.
  • Record interfund transfers.
  • Prepare fund and internal service fund accounting entries.
  • Prepare a financial statement for a governmental agency.

Overview of Not-for-Profit Accounting

  • Differentiate between the revenue sources of not-for-profit organizations.
  • Assess SFAS 116 and 117 and its impact on the financial statements.

Current Issues in Government and Not-for-Profit Accounting

  • Explain how increasing scrutiny and demand for accountability by the public has impacted reporting for not-for-profit and governmental entities.

Environment of Government/Not-for-Profit Accounting

  • Compare and contrast governmental (GASB) and proprietary (FASB) accounting.
  • Differentiate between a budget and a Comprehensive Annual Financial Report (CAFR).
  • Describe how the modified accrual accounting basis differs from full accrual accounting.

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