Feb 22, 2024  
2023-2024 Catalog 
2023-2024 Catalog
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ACCT 260 - Governmental and Non-Profit Accounting

Credits: 5
A framework for accounting processes and financial reporting for government and not-for-profit organizations. Topics include general and special fund accounting for hospitals, charities, foundations, colleges and universities, and government agencies.

Enrollment Requirement: ACCT 113  or ACCT& 202  with a minimum 2.0 grade or instructor consent.

Course Fee: $10.00

Course Outcomes:
Students who successfully complete this class will be able to:

  1. Analyze government and not-for-profit financial reporting and how it differs from for-profit businesses, including basic government and fund statements.
  2. Apply fund accounting practices for the types of funds used by governments and not-for-profits.
  3. Explain the recognition of revenue and expenditures in governmental entities.
  4. Define and apply the process that governments use to account for permanent and fiduciary funds.
  5. Analyze and discuss the accounting and financial reporting requirements for not-for-profit organizations.
  6. Explain the complexities of financial analysis, including calculating and interpreting financial ratios.
  7. Discuss the use and application of ethics in governmental and non-profit accounting.

Program Outcomes
  1. Demonstrate knowledge of accounting and business operations and the ability to correctly use common accounting vocabulary.
  2. Analyze and record business transactions and activities in accordance with Generally Accepted Accounting Principles.
  3. Perform bookkeeping/accounting procedures required in entry- or intermediate-level bookkeeping/accounting positions.
  4. Use general ledger computerized software to perform bookkeeping/accounting functions including preparation of financial statements and accounting reports for a small to medium sized business.
  5. Perform accounting procedures employed in a typical payroll accounting system including preparation of periodic tax forms and timely remittance of tax payments.
  6. Utilize appropriate technology, including word processing and spreadsheet applications, to input, manage, summarize, and interpret business information and to develop forms and reports to assist management in planning operations, identifying potential problems, and controlling business activities.   
  7. Prepare individual Federal Income tax returns and utilize computerized tax software.
  8. Demonstrate critical thinking, analytical and quantitative skills in problem solving, decision making, and responsibility by completing assignments independently and/or as a dependable team member.

College-wide Outcomes
  • Critical Thinking - Critical thinking finds expression in all disciplines and everyday life. It is characterized by an ability to reflect upon thinking patterns, including the role of emotions on thoughts, and to rigorously assess the quality of thought through its work products. Critical thinkers routinely evaluate thinking processes and alter them, as necessary, to facilitate an improvement in their thinking and potentially foster certain dispositions or intellectual traits over time.
  • Quantitative and Symbolic Reasoning - Quantitative Reasoning encompasses abilities necessary for a student to become literate in today’s technological world. Quantitative reasoning begins with basic skills and extends to problem solving.

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