ACC 122 - Introduction to Governmental and Nonprofit Accounting

Competency Areas	Hours
The Governmental Accounting Environment	Class	5
Financial Reporting for Governmental Entities	D. Lab	0
Generally Accepted Accounting Principles for Governmental Entities	P. Lab/O.B.I.	0
Accounting for Nonprofit Organizations	Credit	5

Prerequisite:	ACC101, ACC102, ACC103
Corequisite:

Course Guide

Competency

After completing this section, the student will:

Hours

Class

D.Lab

P.Lab/

O.B.I.

THE GOVERNMENTAL ACCOUNTING ENVIRONMENT		5	0	0
Characteristics of governmental entities	Describe the characteristics of state and local governments.
	Describe how governmental entities are classified for financial reporting purposes.
	Describe the financial characteristics of governmental entities.
	Define the role of the Governmental Accounting Standards Board (GASB).

FINANCIAL REPORTING FOR GOVERNMENTAL ENTITIES		15	0	0
Objectives of financial reporting	Describe the objectives of financial reporting for governmental entities.
The Reporting Entity	Describe the general rules for determining the appropriate financial reporting entity for a governmental organization.
GASB 34: The Required Financial Reporting Model	Describe the financial reporting model defined and required by GASB 34.
	Define the Management Discussion and Analysis requirement.
	Define the characteristics of and basis for government-wide financial statements.
	Define the characteristics of and focus for fund financial statements.
	Describe the purpose and structure of notes to the financial statements.
	Describe the purpose and structure of required supplemental information.
Comprehensive Annual Financial Report (CAFR)	List and describe the requirements for a governmental CAFR.
GENERALLY ACCEPTED ACCOUNTING PRINCIPLES FOR GOVERNMENTAL ENTITIES		25	0	0
The Fund Accounting Structure	Describe the nature of the fund accounting structure used by governmental entities.
Types of Funds	Define the primary characteristics and measurement basis for governmental funds. Describe the use of the Fund Balance. Prepare journal entries for a governmental fund.
	Define the primary characteristics and measurement basis for proprietary funds. Prepare journal entries for a proprietary fund.
	Define the primary characteristics and measurement basis for fiduciary funds. Prepare journal entries for a fiduciary fund.
Government-wide statements	Describe the primary characteristics and measurement basis for government-wide financial statements.
Budgetary accounts	Describe the use of budgetary accounts in governmental accounting. Prepare journal entries using budgetary accounts.
Encumbrance accounts	Describe the use of encumbrance accounts in governmental accounting. Prepare journal entries using encumbrance accounts.
ACCOUNTING FOR NONPROFIT ORGANIZATIONS		5	0	0
Types of nonprofit entities	Describe the characteristics of both governmental and non-governmental nonprofits. Describe the jurisdictional issues governing the accounting for each type of organization.
Financial Reporting	Describe the primary financial statements used in nongovernmental not-for-profits.
Accounting for Revenues, Gains, and Support	Describe the accounting procedures unique to not-for-profit entities that rely on contributions or non-exchange transactions.

Suggested Resources

Copley & Engstrom (2007) Essentials of Accounting for Governmental and Not-for-Profit Organizations: 8^th Edition. McGraw-Hill Irwin www.mhhe.com/copley8e

Granof, M. (2005) Government and Not-for-Profit Accounting: Concepts and Practices: 3^rd Edition. Wiley.www.wiley.com/college/granof

Ives, Razek, & Hosch, (2004) Introduction to Governmental and Not-for-Profit

Accounting: 5^th Edition. Prentice-Hall. www.prenhall.com/ives

Wilson, Kattelus, & Reck (2006) Accounting for Governmental and Nonprofit Entities w/City of Smithville: 14^th Edition. McGraw-Hill. www.mhhe.com/wilson14e