Not-for-profit & Government Accounting – acc548 (3 credits)

In this course, students receive an overview of the budgeting, accounting, financial reporting, and auditing required of government and not-for-profit organizations. Topics include the governmental accounting, accounting records in government, fund allocation, government-wide reporting, not-for-profit accounting, and governmental performance measures.

This graduate-level course is 6 weeks. This course is available to take individually or as part of a degree or certificate program. To enroll, speak with an Enrollment Representative.

Government Accounting and Reporting

  • Describe the major features of government reporting and the government reporting entity.
  • Evaluate the Management Discussion & Analysis section for a governmental reporting unit.
  • Compare and contrast government accounting with for-profit financial accounting.

Government, General, and Special Revenue Funds

  • Prepare journal entries for general and special revenue funds.
  • Analyze the components of the fund financial statements.
  • Compare and contrast expenses and expenditures for governmental funds.
  • Prepare journal entries for nonexchange transactions on government-wide and fund statements.

Journal Entries

  • Prepare journal entries for proprietary funds.
  • Prepare journal entries for fiduciary funds.
  • Prepare journal entries for capital project funds, debt service funds, and permanent funds.
  • Compare and contrast proprietary and fiduciary funds.

Financial Statements and Supplementary Information

  • Explain the process by which fund financial statements are converted to government-wide financial statements.
  • Evaluate the significance of notes to the financial statements.
  • Evaluate the benefit of the required supplementary information.

Governmental and Not-for-Profit Organizations

  • Analyze reporting requirements for private sector not-for-profit organizations under Financial Accounting Standard Board guidance.
  • Compare and contrast accounting for government Special Purpose Entities (SPEs) and private not-for-profit organizations.

Fiscal Policy and Financial Performance

  • Analyze the impact on governmental revenue and expenditures of nondiscretionary fiscal policy.
  • Identify key performance measures for government and not-for-profit organizations.
  • Compare and contrast the use of budgets between governmental and for-profit organizations.

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