This course introduces basic accounting for governmental and not-for-profit organizations. Topics covered will be fund accounting, budgeting, financial reporting, and accounting procedures. Although a variety of organizations are considered public or nonprofit, the emphasis in this course will be placed on local government.
The main objective is how the fundamental nature of accounting relates to the governmental environment.
Upon completion of the course students should be able to: to review the foundational aspects of governmental accounting and financial reporting standards and to bring their practical application; to introduce students to local government accounting and financial reporting model allowing them to understand and apply the model.