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Berkeley Global
Learn the concepts and practices of accounting for state and local governments and for nonprofit entities, including voluntary health and welfare agencies, hospitals, colleges and universities, and religious organizations. In addition, get an introduction to the role and process of budgeting in governmental and nonprofit organizations, as well as to the financial analysis of these organizations. This course is taught at an intermediate level.
Prerequisites:
Introduction to Financial Accounting UGBA XB102A/XBW102A or equivalent
Course Outline
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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
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