Montgomery College 2018-2019 Catalog 
    Jul 18, 2019  
Montgomery College 2018-2019 Catalog [ARCHIVED CATALOG]

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ACCT 225 - Governmental and Nonprofit Accounting

General principles of fund accounting for municipal, governmental, and nonprofit institutions. The course will emphasize fund principles, budgetary controls, and financial reporting statements. PREREQUISITE(S): ACCT 222 . Three hours each week. Formerly AC 210.

3 semester hours

Course Outcomes:
Upon course completion, a student will be able to:

  • Explain the similarities and differences between profit-oriented entities and governmental/nonprofit entities. Specifically, students should Explain the importance and role of regulatory and rule-making bodies such as GASB, OMB, FASAB, and FASB.
  • Demonstrate basic competency, analytical ability, and a general understanding of the components, interrelationships, and uses of the required financial disclosures (including the CAFR) in governmental and nonprofit accounting.
  • Analyze financial disclosures with an emphasis on analysis and critical thinking as applied to accounting rules and reporting requirements for nonprofit and governmental entities.
  • Explain the basic uses and mechanics of encumbrance accounting, fund accounting, budgetary accounting, and the overall budgetary process for nonprofit and governmental entities.

Click here for the Spring 2019 Class Schedule

Click here for the Summer I 2019 Class Schedule

Click here for the Summer II 2019 Class Schedule

Click here for the Fall 2019 Class Schedule

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