If you do well in this course, you will be able to:
- Understand the basics of governmental and nonprofit accounting by students who are interested in accounting careers, interested in administration of governmental and nonprofit organizations or person employed in governmental and nonprofit administration or accounting, interested in retooling their concepts of Fund accounting.
- Identify and have a working knowledge of the eight major classes of funds and two account groups, used by governmental accounting to come up with financial reports.
- Gain a working knowledge of the budgetary systems used for financial planning control in governmental and nonprofit organizations.
- Appreciate and understand the differences between the governmental and nonprofit accounting principles and the generally accepted accounting principles used by for-profit organizations.
- Understand the role of the GASB and OMB in setting government accounting standards.