ACCT 773

About this course

The course focuses on accounting, financial reporting, and auditing relevant to governmental and not-for-profit entities. Financial information that is required internally by public officials and governmental and not-for-profit managers is discussed. The financial reporting standards covered are those of the Government Accounting Standards Board (GASB) and the Financial Accounting Standards Board (FASB). Auditing standards set out in the "Yellow Book" issued by the General Accounting Office (GAO) and by the Office of Management and Budget (OMB) circulars of the Federal Office of Management and Budget are discussed. The "single audit" approach is covered. The foundation of accounting and reporting for governmental entities is developed in terms of public goods theories of governmental activities.