Course Abstract Details

ACCT-241, Governmental and Not-For-Profit Accounting

Credits: 1

Course Description

ACCT-241, Governmental and Not-For-Profit Accounting, examines basic concepts underlying accounting for these entities. Emphasis will be placed on the sources of governmental accounting standards, fund accounting and budgetary concepts, sources of not-for-profit accounting standards, and types of not-for-profit organizations. Prerequisite: ACCT-102, or permission of instructor. One hour lecture each week. One credit. One billable hour. Offered Summer term only.

Course Objectives and Grading Information

Major Course Objectives:  Upon completion of the course, students will be able to: 

1. Identify the sources of governmental accounting standards. 

2. Describe the measurement focus and basis of accounting for governmental entities. 

3. Describe the objectives of financial reporting for governmental entities. 

4. Explain the fund accounting process. 

5. Relate the objectives of budgetary accounting. 

6. Explain the proper treatment of governmental, proprietary and fiduciary funds. 

7. Identify the sources of not-for-profit accounting standards. 

8. Describe the objectives of financial reporting for not-for-profit organizations. 

9. Identify the accounting issues related to different types of not-for-profit organizations.

Learning Goals

The abbreviations in parentheses represent Learning Goals which have been identified for this course and program of study:

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