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Master Syllabus

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Administrative Unit: Business Administration Department
Course Prefix and Number: BUSI 585
Course Title: Fund and Governmental Accounting
Number of:
Credit Hours 3
Lecture Hours 3
Lab Hours 0
Catalog Description:

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.

Text(s): Most current editions of the following:

Accounting for Governmental and Nonprofit Entities
By Reck, Lowensohn (McGraw-Hill)
Essentials of Accounting for Governmental and Not-for-Profit Organizations
By Engstrom, Copley (McGraw-Hill)
Governmental and Nonprofit Accounting: Theory and Practice
By Freeman, Shoulders (Prentice Hall)
Course Learning Outcomes
  1.  Properly account for general funds and special revenue funds.
  2. Properly account for capital projects funds, debt service funds, internal service funds, enterprise funds, and fiduciary funds.
  3. Prepare financial reports for local, state, and federal governments.
  4. Prepare financial reports for not-for-profit entities.
  5. 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

Library Resources:

Online databases are available at the Columbia College Stafford Library.  You may access them using your CougarTrack login and password when prompted.

Prepared by: Thomas Stauder Date: January 21, 2016
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.

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