ACCT-220 Governmental & Non-Profit Accounting

Credits 4 / 4 Contact Hours
Pre-requisite: Placement into College Level Reading, completion of ELAP-120 with a 2.0 or higher, or successful completion of ACRD-090, ACRD-091 or ACRD-092; Successful completion of ACCT-202.
Governmental and Non-Profit Accounting will review the accounting principles and procedures associated with governmental entities and not-for-profit organizations and compare and contrast the major reporting objectives for fund accounting and the characteristics of modified accrual and accrual based accounting systems.

Course Outcomes
1. Compare and contrast the major reporting objectives of governmental and public accounting. 2. Demonstrate knowledge of the primary professional and regulatory organizations that influence the development of accounting concepts and procedures applicable to governmental and not-for-profit entities. 3. Apply the budgetary process for the general and Special Revenue Funds. 4. Prepare and journalize routine transaction cycle budgetary and accounting entries. 5. Prepare financial statements for general and special revenue governmental funds. 6. Compare and contrast the characteristics of modified accrual and accrual based accounting systems. 7. Prepare journal entries and financial statements for debt service and capital project governmental funds. 8. Analyze the purpose of government proprietary funds as well as government fixed asset and long-term debt account groups. 9. Prepare journal entries and financial statements for a variety of not-for-profit entities, including colleges, universities, hospitals and other health care providers.