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.
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.
- 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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Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.