Governmental Accounting ACNE 3313

Course description:

In this course students learn about accounting and reporting requirements used by government entities. The class focuses on the categorization of the major government fund types and the terminology associated with Governmental Accounting Standards Board (GASB) and Generally Accepted Accounting Principles (GAAP).

Course Aims:

  • Define fund accounting terms and concepts.
  • Describe the budgetary process in government.
  • Identify the objectives of accounting and financial reporting in government and not-for-profit entities.
  • Apply governmental accounting procedures.
  • Apply accounting principles for various governmental funds.
  • Develop and analyze worksheets and financial reports related to governmental organizations.

Course outcomes:

Upon completing this course, you will have an understanding of:
  • The characteristics and differences of the government environment that necessitate the unique accounting and financial reporting.
  • The process of setting accounting and financial reporting standards for government entities.
  • The bases of accounting and measurement focuses used by governments.
  • Fiscal accountability.
  • Exchange and no exchange transactions.
  • Budgeting in government.
  • Accounting and reporting in local governments, including: 
    • Determining the financial reporting entity.
    • Fund accounting and reporting.
    • Government wide accounting and reporting.
    • Accounting and reporting for specific transactions.