Description:

Presents a framework for accounting and financial reporting for government and not-for-profit organizations. Topics include general and special fund accounting for hospitals, charities, foundations, colleges and universities, and government agencies. Prerequisite: ACCT 102 or permission of instructor.

Outcomes:

After completing this class, students should be able to:

Analyze government and not-for-profit financial reporting and how it differs from for-profit businesses. Analyze and apply the purpose of fund accounting, the types of funds used by governments and not-for-profits, and the basic government and fund statements. Explain the process related to governmental activities and the recognition of revenue and expenditures, including long-term debt obligations. Define and apply the process that governments use to account for permanent and fiduciary funds. Analyze and discuss the accounting and financial reporting requirements for not-for-profit organizations. Explain the complexities of financial analysis, including assessing economic conditions, calculating, and interpreting financial ratios. Discuss the use and application of ethics in governmental and non-profit accounting.