Study of accounting and reporting concepts, standards, and procedures applicable to city, county and state governments, the federal government, and not-for-profit institutions. Prerequisite: ACCT 384 or BUSI 584.
Prerequisite(s) / Corequisite(s):
ACCT 384 or BUSI 584.
Most current editions of the following:
Accounting for Governmental and Nonprofit Entities
By Reck, Lowensohn (McGraw-Hill) Recommended
Essentials of Accounting for Governmental and Not-for-Profit Organizations
By Engstrom, Copley (McGraw-Hill) Recommended
Governmental and Nonprofit Accounting: Theory and Practice
By Freeman, Shoulders (Prentice Hall) Recommended
Course Learning Outcomes
Properly account for general funds and special revenue funds.
Properly account for capital projects funds, debt service funds, internal service funds, enterprise funds, and fiduciary funds.
Prepare financial reports for local, state, and federal governments.
Prepare financial reports for not-for-profit entities.
Analyze governmental financial performance.
Major Topics/Skills to be Covered:
Describe the principles of accounting for governmental and not-for-profit entities
Perform budgetary accounting for governmental entities
Account for governmental operating activities
Account for general capital assets and capital projects
Account for general long-term liabilities and debt service
Account for the business-type activities of state and local governments
Account for fiduciary activities - agency and trust funds
Prepare and interpret financial reports of state and local governments
Analyze governmental financial performance
Describe and perform accounting for not-for-profit entities.
Describe and perform accounting and reporting for the federal government.
Recommended maximum class size for this course: 15
NOTE: The intention of this master course syllabus is to provide an outline of the contents of this course, as specified by
the faculty of Columbia College, regardless of who teaches the course, when it is taught, or where it is taught. Faculty members teaching this
course for Columbia College are expected to facilitate learning pursuant to the course learning outcomes and cover the subjects listed in the Major Topics/Skills to be Covered section.
However, instructors are also encouraged to cover additional topics of interest so long as those topics are relevant to the course's
subject. The master syllabus is, therefore, prescriptive in nature but also allows for a diversity of individual approaches to course material.