ACC 219 - Governmental and Not-for-Profit Accounting (3 CR.)

Introduces fund accounting as used by governmental and nonprofit entities. Stresses differences between accounting principles of for-profit and not-for-profit organizations. Lecture 3 hours per week.

General Course Purpose
This course stresses both the theory and practice of governmental and nonprofit accounting. The course content explains in detail the salient differences between the principles of accounting for profit organization and the principles of accounting for government and nonprofit organizations. By defining and explaining the basic fund nonprofit accounting terminology it makes it easier for students going into governmental and nonprofit accounting to adjust to the new environments.

Prerequisite(s): ACC 212 or equivalent.

Course Objectives
Upon completion of this course, the student will be able to:

Describe the basic principles of accounting used in government and nonprofit organizations
Explain the eight major classes of funds and two account groups used by government
Have a working knowledge of the budgetary systems used for financial planning control in government and nonprofit organizations
Explain the differences in accounting principles used between government and nonprofit organizations from those used by for-profit organizations
Describe the role of the GASB and OMB in setting government accounting standards

Major Topics to be Included

Basic Principles of Government and nonprofit accounting
Budgetary processes and controls
Accounting for Health-Care Institutions, Voluntary Welfare Organizations, charities, colleges,
and universities, and other nonprofit organizations
Audits of governmental and nonprofit organizations
Accounting software used by non-profit organizations

Optional Topics

Accounting for Health-Care Institutions, Voluntary Welfare Organizations, charities, colleges, and universities, and other nonprofit organizations
Audits of governmental and nonprofit organizations
Accounting software used by non-profit organizations

Revised 9/21