ACCT 2050 Gov/Non-Profit Org Accounting
An introduction and study of the basic principles of accounting for governmental and nonprofit organizations as they apply to accounting for governmental funds, proprietary funds, fiduciary funds and account groups. Generally offered in Spring only. Prerequisite: Completion of
ACCT 2010 or instructor's permission. (3 lect.)
Major Topics
- Philosophy underlying accounting practices for Governmental and Non-Profit Organizations
- Accounting for General Fund, Special Revenue Fund, Debt Service Fund, Capital Project Fund and Permanent Fund in Governmental Organization
- Accounting for Proprietary Funds and Fiduciary Funds in a Governmental Organization
- Reporting Principles and Preparation of Government wide Financial Statements
- Accounting for Not-For-Profit Organizations
Outcomes
In order to successfully complete this course, the student will:
1. Compare and contrast the accounting principles of For-Profit and Governmental/Non Profit Organizations
2. Correctly identify and record budgetary and economic transactions of Governmental and Non-Profit Organizations in various funds
3. Analyze and record end-of-fiscal period procedures for Governmental and Non-Profit Organizations
4. Perform the entire accounting cycle for Governmental and Non-Profit Organizations under the modified accrual and/or accrual basis of accounting.
5. Describe the reporting procedures for Government wide financial statements.
Other Information
Any information placed here must be adhered to by all instructors:
Please contact the on-campus instructor for the current textbook.