Government/Special TopicsBack to Course Guide
The course presents problems and case studies in accounting for partnerships, bankruptcy, governmental and not-for-profit entities. Also, accounting for estates and trusts and international accounting are presented.
UPON COMPLETION OF THE COURSE, THE STUDENT WILL BE COMPETENT IN:
- Accounting for the formation and organization of a partnership.
- Applying partnership agreements to financial reports.
- Calculating partnership operational income and distributions.
- Accounting for termination and liquidation of a partnership.
- Preparing a Statement of Realization and Liquidation for a partnership.
- Applying the Bankruptcy Act in accounting for bankruptcies and liquidations.
- Accounting for legal reorganizations.
- Preparing a Statement of Financial Affairs.
- Accounting for Estates and Trusts and compliance with tax requirements.
- Accounting for the unique characteristics of government entities.
- Applying the basic concepts of fund accounting including budgets, encumbrances, and interfund transfers for governmental entities.
- Applying related official pronouncements of the GASB and the FASB.
- Preparing financial reports of a governmental entity and a not-for-profit entity.
- Comparing and contrasting not-for-profit entities with governmental entities and commercial enterprises.
- Analyzing foreign currency translations and remeasurements.
- Preparing foreign currency hedging transactions and adjustments.
- Calculating foreign currency exchange rates.
- Tracing the development of International Accounting concepts and procedures.