acc548 | Graduate
Not-for-profit & Government Accounting
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Government Accounting and Reporting
- Evaluate the Management Discussion & Analysis section for a governmental reporting unit.
- Compare and contrast government accounting with for-profit financial accounting.
- Describe the major features of government reporting and the government reporting entity.
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.
- 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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