ACCT 260 — Governmental and Not-For-Profit Accounting
The course will present the characteristics and principles of the financial policies and procedures followed by state, county and municipal governments, as well as public and private universities and hospitals, and certain nonprofit organizations. The course will emphasize the importance to governmental agencies of properly discharging their responsibilities to taxpayers. These responsibilities include the proper accounting for and budgeting of tax and related revenues and expenditures. The course will also emphasize the importance to nonprofit entities of meeting the financial reporting and management needs of various stakeholders such as donors, service providers and recipients, community members, and regulatory agencies. Funds, fund accounting, and the newest Governmental Accounting Standards Board (GASB) and Financial Accounting Standards Board (FASB) pronouncements relating to accounting for governmental and nonprofit entities will also be covered.