ACCT 6115. GOVERNMENTAL AND NOT-FOR-PROFIT ACCOUNTING. (3-0-3)

Prerequisites: ACCT 3101 and ACCT 3102 with a grade of C or better. This course focuses on financial reporting and disclosure for state and local governmental entities and selected not-for-profit entities based on the standards and principles promulgated by the Governmental Accounting Standards Board (GASB) and the Financial Accounting Standards Board (FASB). Students will learn objectives and principles of state and local governmental accounting; budgetary, revenue, and expenditure accounting; accounting for governmental funds; accounting for general capital assets and long-term liabilities; accounting for proprietary funds; and how such entities prepare their financial reports. The course covers financial reporting for selected not-for-profit entities, balancing the focus on internal operations with fiduciary responsibility.