ACCT 550G Governmental and Not-for-profit Accounting
Financial and managerial accounting for governmental and other not-for-profit entities are covered. Topics include: general and special funds accounting; enterprise funds; trust and agency funds; general fixed asset and long term debt groups; financial reporting; governmental costing and budgeting; public school and university accounting; hospital accounting; and accounting for selected not-for-profit organizations. This course focuses on the principles, methods, terminology, influences, and limitations of not-for-profit accounting. The course also covers the development, planning, control and managerial uses of budgeting.
4 Graduate credits
Effective July 26, 2000 to present
Learning outcomes
General
- Explain the characteristics that distinguish governmental and not-for-profit entities from for-profit entities.
- Distinguish between the authoritative bodies responsible for setting financial reporting standards for state and local governments, not-for-profit organizations and the federal government.
- Explain the components for GASB integrated accounting and financial reporting model, including: the reporting entity, Government-wide financial statements, fund financial statements, and definition of fund and principles of fund accounting.
- Explain how revenues and expenditures are classified in the General Fund.
- Distinguish between exchange and non-exchange transactions, and define the classifications used for non-exchange transactions.
- Account for general capital assets, including: acquisition, maintenance, depreciation, impairment, and disposition.
- Explain the purpose and types of debt service funds.
- Describe governance issues of NPO boards, including incorporating documents and board membership.