ACCT 241 - Governmental and Not-For-Profit Accounting

Number of Credits: 1
Examine accounting concepts for government and not-for-profit entities. Determine the sources of governmental accounting standards. Research fund accounting and budgetary concepts. Assess types of not-for-profit entities and the sources of accounting standards for such organizations. Prerequisite: ACCT-102. One hour lecture each week. One credit. One billable hour. Offered Summer term only. (Summer Term Only) One hour lecture One Credit. One billable hour.

Pre-requisite(s): ACCT 102.
Course Objectives: Upon successful completion of this course, students will be able to:
1. Identify sources of accounting standards for both governmental entities and not-for-profit organizations. (PG 1)
2. Describe the measurement focus and basis of accounting for government organizations.
3. List the objectives of financial reporting for both governmental entities and not-for-profit organizations. (PG 1).
4. Explain the fund accounting process and the objectives of budgetary accounting. (PG 5)
5. Summarize the treatment of governmental, proprietary, and fiduciary funds.
6. Compare the issues related to different types of not-for-profit businesses.