ACC 420 - Governmental and Nonprofit Accounting

Description: Concepts and techniques of fund accounting and the financial reporting for governmental and not-for-profit entities

Prerequisites: Program admission. ACC 115 , ACC 131 , ACC 132 , BSA 131 , CSA 110 , ECN 232 , and ECN 236 

Recommended Preparation: ACC 117  and ACC 234 

Credits: 3
Lecture: 3
Lab: 0

Course Content:

1. Overview of financial reporting for state and local governments
2. Modified accrual accounting
3. Accounting for general and special revenue funds
4. Accounting for other governmental fund types
5. Fiduciary (trust) funds
6. Government-wide statements, capital assets, and long-term debt
7. Accounting for private not-for-profit organizations
8. College and university accounting
9. Accounting for hospitals and other health care providers
10. Auditing, tax-exempt organizations, and evaluating performance
11. Financial reporting by the federal government

1. Evaluate how governmental agencies and not-for-profit organizations differ from other types of businesses. (1, 2)
2. Apply basic accounting principles and concepts as they relate to not-for-profit organizations. (1-4)
3. Complete the accounting cycle for governmental agencies. (3, 4, 6, 11)
4. Complete the accounting cycle for private not-for-profit organizations (7)
5. Apply basic accounting principles and concepts as they relate to fiduciary funds, college and universities, and hospitals and other health care providers. (5, 8, 9)
6. Evaluate key economic and financial ratios to measure the performance and financial condition of not-for-profit organizations. (6, 10)