ACC/460 - Government and Non-Profit Accounting

Course Description

This course covers fund accounting, budget and control issues, revenue and expense recognition, and issues of reporting for both government and non-profit entities.

This undergraduate course is 5 weeks.

PLEASE NOTE:
Attendance and participation are mandatory in all university courses, and specific requirements may differ by course. If attendance requirements are not met, a student may be removed from the course. Please review the Course Attendance Policy in the Catalog for more information.

Course Objectives

Accounting Standards for State and Local Governments

• Demonstrate an understanding of why governmental accounting is–and should be–different from for-profit business accounting.
• Model the governmental accounting system used to account for revenues, expenditures, encumbrances, expenses, capital, and debt.

Fund Accounting

• Distinguish between the various types of funds used by governments.
• Examine the accounting process used for governmental funds, proprietary funds, and fiduciary funds.
• Analyze typical operating transactions for governmental, proprietary, and fiduciary activities and prepare appropriate journal entries at both the government-wide and fund levels.

Financial Reporting and Control for State and Local Governments

• Assess and prepare governmental fund financial statements and government-wide financial statements and understand how to reconcile the two.
• Evaluate the components of a comprehensive annual financial report (CAFR).
• Perform key financial analysis of an entities financial position, financial condition, and economic condition.
• Examine issues related to budgeting and control.

The Not-for-Profit Environment

• Assess the accounting and financial reporting requirements for not-for-profit organizations.
• Journalize transactions and prepare financial statements in accordance with the generally accepted accounting principles governing not-for-profit organizations.
• Discuss how not-for-profit organizations are regulated.
• Contrast the tax-exempt status of public charities and private foundations with commercial organizations.

Accounting for Not-for-Profit Colleges, Universities, and Health Care Orga …

• Describe financial reporting for public and private colleges and universities.
• Journalize transactions and prepare the basic financial statements for public and private colleges and universities.
• Describe financial reporting for not-for-profit and governmental health care organizations.
• Journalize transactions and prepare the basic financial statements for not-for-profit and governmental health care organizations.

Notes

A prerequisite is required for this course. The purpose of a prerequisite is to ensure students have the knowledge and/or skills needed to be successful in the course. Students are required to provide proof of prerequisite during the enrollment/registration process. To meet to a course prerequisite requirement, a student must have successfully completed the prerequisite course at University of Phoenix, provide proof via transcript of completing a comparable course (at least 75% match) or higher level course with at least a grade of C at another institution or have a University of Phoenix approved Student Appeal on file with the University.

During the checkout process you will be prompted to provide proof of the requirement(s). If you completed the prerequisite at another institution, be prepared to upload an official/unofficial transcript. If you have questions about meeting the prerequisite requirements for this course, please contact an enrollment representative.

This course requires the prerequisite below. Click on the prerequisite course to review the course topics and objectives.

Disclaimers

The University of Phoenix reserves the right to modify courses.

While widely available, not all programs are available in all locations or in both online and on-campus formats. Please check with an Enrollment Representative.

Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.