Accounting for Government and Not-for-Profit Organizations

Course Objectives

• Describe the characteristics that distinguish government and not-for-profit organizations from for-profit entities, and explain how these characteristics affect the accounting objectives and standards for these organizations
• Explain and correctly apply the generally accepted accounting principles as established for governmental and not-for-profit organizations, including fund accounting, modified accrual accounting, revenue recognition, treatment of capital assets and long-term debt, accounting for restricted assets, governmental budgetary accounting, encumbrance accounting and preparation of financial statements
• Understand the importance of budgeting as used in the financial management of government and not-for-profit organizations, the key elements of the budget cycle, different ways of organizing a budget and the major approaches to preparing a budget
• Conduct a basic financial condition analysis of a government or not-for-profit organization

What You Learn

• Government funds
  • Operating accounts
  • Budgetary accounting
  • Capital assets
  • Debt
• Fiduciary activities
• Budgeting
• Accounting for nonprofits
• Accounting for colleges and universities
• Accounting for health care organizations
• Financial condition analysis

How You Learn

• Lectures
• Readings
• Class discussions
• Homework
• Exams
• Student interactions inside and outside of class