ACCT 260 Governmental and Non-Profit Accounting • 5 Cr.
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.
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.