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.
Overview of Not-for-Profit Accounting
Assess SFAS 116 and 117 and its impact on the financial statements.
Differentiate between the revenue sources of not-for-profit organizations.
Fund Accounting Part II
Prepare a financial statement for a governmental agency.
Prepare fund and internal service fund accounting entries.
Record interfund transfers.
Apply accounting procedures for recognizing revenues and other budgetary resources.
Fund Accounting Part I
Differentiate between government-wide financial statements and fund statements.
Explain how governments account for capital projects and debt service funds.
Explain how encumbrances affect expenses and expenditures on a governmental budget.
Explain the principles of fund accounting and revenue recognition.
Environment of Government/Not-for-Profit Accounting
Describe how the modified accrual accounting basis differs from full accrual accounting.
Differentiate between a budget and a Comprehensive Annual Financial Report (CAFR).
Compare and contrast governmental (GASB) and proprietary (FASB) accounting.
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