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.
Fund Accounting Part I
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.
Differentiate between government-wide financial statements and fund statements.
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.
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