FINA 3650 Government and Nonprofit Accounting

Specialized accounting principles for public sector entities and not-for-profit organizations focusing on fund accounting.

About this course

This course covers the specialized accounting principles used by public sector entities and not-for-profit organizations. You will focus on fund accounting, a system that separates financial resources into different funds based on their intended use. This approach ensures that restricted and designated funds are tracked and reported accurately.

You will learn how to prepare financial statements that meet public sector accounting standards and how to analyze budgetary data. The course also explores the internal controls and compliance requirements that are unique to government and non-profit environments.

Who takes this course

• Bachelor of Applied Business — Accounting

Credits: 3 · Hours: 45

Prerequisites

• FINA 1320 Personal Financial Literacy
• FINA 1650 Business Law Essentials
• FINA 2130 Intermediate Financial Accounting

Learning outcomes

• Explain the unique accounting and reporting requirements of government and not-for-profit entities.
• Apply fund accounting principles to track revenues and expenditures in restricted and unrestricted funds.
• Prepare and interpret financial statements in accordance with public sector accounting standards.
• Analyze budgetary accounting and the role of budgets in public sector financial control.
• Evaluate internal controls and compliance issues specific to non-profit and government organizations.

Evaluation