ACCT 207 - Accounting for Government and Nonprofit Entities

1. Demonstrate understanding and perform the basic recording and presentation of accounting data into the various governmental and nonprofit funds such as:
   1. General fund (or operating fund)
   2. Special revenue fund
   3. Special assessment fund
   4. Debt service fund
   5. Capital projects fund
   6. Trust and agency fund
   7. Internal service fund (intragovernmental service fund)
   8. Enterprise fund
   9. General fixed assets account group
   10. General bonded debt account group
   11. Specific purpose fund
   12. endowment fund
   13. Loan fund
   14. Various special funds
2. Describe the interrelationships between the various funds and perform necessary journal entries when more than one fund is used.
3. Define and contrast the modified accrual and accrual bases of accounting.
4. Define and contrast GASB and FASB guidelines.
5. Contrast legal statutes and generally accepted accounting principles.
6. Describe internal control and discuss procedures commonly used in fund accounting.
7. Define and describe the encumbrance system, discuss its relationship to purchase orders and perform needed journal entries.
8. Prepare budgets required for the various funds.
9. Perform closing procedures.
10. Prepare financial statements, including consolidations.
11. Communicate effectively using correct Standard English, both orally and in writing by completion of papers, projects and/or presentations.

Governmental funds

Governmental non-fund accounts

Proprietary funds and fiduciary funds

Relationship of FASB and GASP

Relationship of the various funds and their accounting

Cash, accrual and modified accrual accounting

Closing procedures

Financial statement preparation
Course Addendum - Syllabus (Click to expand)