ACC640M Acc for Gov't & NFP Entities

Lead Faculty: Dr. Joyce Ellis

Course Description

Accounting principles used by governmental units and non-profit organizations. Concepts of fund accounting and the analysis and interpretation of the financial statements.

Learning Outcomes

  • Compare and contrast the financial reporting objectives of governmental and not-for-profit organizations with those of business entities.
  • Evaluate the major components of a comprehensive annual financial report (CAFR) of a state or local government.
  • Apply fund accounting principles to the recording of monetary transactions of state and local governments in accordance with the standards set by the Governmental Accounting Standards Board (GASB).
  • Assess budgeting approaches and procedures for state and local governments.
  • Integrate the generally accepted accounting principles relating to specialized forms of nonprofit organizations including colleges / universities and health care organizations.
  • Apply the generally accepted government auditing standards (GAGAS) for governmental organizations including the Single Audit Act and the implications of the Sarbanes-Oxley Act of 2002.
  • Apply the generally accepted accounting principles for Federal agencies as contained in the Statements of Federal Financial Accounting Standards (SFFAS).