ACCT 234 Government and Not-For-Profit Accounting

This course covers governmental and not-for-profit accounting and reporting. Study includes governmental accounting concepts, content and format of the annual comprehensive financial report, accounting and reporting transactions for governmental and not-for-profit organizations, and budgeting for these entities. This course prepares students for decisions relating to governmental and not-for-profit accounting topics in the Certified Public Accountant (CPA) Exam.

Credits

3

Prerequisite

ACCT 112

Hours Weekly

3

Course Objectives

1. Prepare government financial statements, including proprietary fund financial statements and fiduciary fund financial statements.
2. Explain the objectives and components of an annual comprehensive financial report.
3. Explain the criteria for classifying an entity as a component unit.
4. Prepare journal entries for net position balances, fund balances, capital assets, general and propriety long-term liabilities, interfund activity, the amount of nonexchange revenue and expenditures using both modified accrual and accrual basis of accounting, and to record budgets and encumbrances.
5. Prepare a statement of financial position, activities, and cash flows for nongovernmental, not-for-profit (NFP), and make necessary adjustments as needed.
6. Identify transfers and promises to give to a nongovernmental, NFP, and be able to calculate the effect on net assets.
7. Analyze the measurement focus and basis of accounting used by state and local governments for fund and government-wide financial reporting.

Course Objectives

1. Prepare government financial statements, including proprietary fund financial statements and fiduciary fund financial statements.

   This objective is a course Goal Only

   Learning Activity Artifact

   • Other (please fill out box below)
   • Quiz/Exam

   Procedure for Assessing Student Learning

   • Other (please fill out box below)
   • Answer key
2. Explain the objectives and components of an annual comprehensive financial report.

   This objective is a course Goal Only

   Learning Activity Artifact

   • Other (please fill out box below)
   • Quiz/Exam

   Procedure for Assessing Student Learning

   • Other (please fill out box below)
   • Answer key
3. Explain the criteria for classifying an entity as a component unit.

   This objective is a course Goal Only

   Learning Activity Artifact

   • Other (please fill out box below)
   • Quiz/Exam

   Procedure for Assessing Student Learning

   • Other (please fill out box below)
   • Answer key
4. Prepare journal entries for net position balances, fund balances, capital assets, general and propriety long-term liabilities, interfund activity, the amount of nonexchange revenue and expenditures using both modified accrual and accrual basis of accounting, and to record budgets and encumbrances.

   This objective is a course Goal Only

   Learning Activity Artifact

   • Other (please fill out box below)
   • Quiz/Exam

   Procedure for Assessing Student Learning

   • Other (please fill out box below)
   • Answer key
5. Prepare a statement of financial position, activities, and cash flows for nongovernmental, not-for-profit (NFP), and make necessary adjustments as needed.

   This objective is a course Goal Only

   Learning Activity Artifact

   • Other (please fill out box below)
   • Quiz/Exam

   Procedure for Assessing Student Learning

   • Other (please fill out box below)
   • Answer key
6. Identify transfers and promises to give to a nongovernmental, NFP, and be able to calculate the effect on net assets.

   This objective is a course Goal Only

   Learning Activity Artifact

   • Other (please fill out box below)
   • Quiz/Exam

   Procedure for Assessing Student Learning

   • Other (please fill out box below)
   • Answer key
7. Analyze the measurement focus and basis of accounting used by state and local governments for fund and government-wide financial reporting.

   This objective is a course Goal Only

   Learning Activity Artifact

   • Other (please fill out box below)
   • Quiz/Exam

   Procedure for Assessing Student Learning

   • Other (please fill out box below)
   • Answer key