The course provides a comprehensive coverage of the latest GASB pronouncements, aiming to make students aware of the dynamism of government and not-for-profit accounting and of the intellectual challenges that it presents. Issues addressed in revenue and expense recognition, asset and liability valuation, the scope of the reporting entity, reporting cash flows, This course emphasize concepts, rather than rules and procedures, the students will gain insight into how and why the issues may have been resolved either similarly or differently in the business sector. In general this course is directed towards both potential users and preparers of financial reports.
Textbook:Government and Not-for-Profit Accounting: Concepts and Practices, 5th Edition Michael H. Granof (Univ. of Texas, Austin), Saleha B. Khumawala (University of Houston)