acc460 | undergraduate

Government And Non-profit Accounting

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This course covers fund accounting, budget and control issues, revenue and expense recognition, and issues of reporting for both government and non-profit entities.

This undergraduate-level course is 5 This course is available to take individually or To enroll, speak with an Enrollment Representative.

Course details:

Credits: 3
Continuing education units: XX
Professional development units: XX
Duration: 5

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    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.

    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.
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