Not-For-Profit and Public Sector Accounting

At the end of this course, the successful student will be able to:

Not-For-Profit Sector

1. Explain the process of setting up a not-for-profit organization and obtaining appropriate governmental approval;

2. Describe the basics of charitable and not-for-profit organizations;

3. Analyze the major financial reporting issues in not-for-profit organizations;

4. Explain and apply the basics of accounting for and reporting of contributions, restricted funds, deferred contributions and endowments;

5. Analyze and compare the process of measuring value and performance in not-for-profit organizations to for-profit organizations.

Public/Government Sector

1. Explain governance and decision making, including stakeholders at all levels;

2. Explain the planning and budgeting process and their components such as operating and capital budgets;

3. Produce appropriate financial statements, notes and schedules applicable to a governmental body including consolidations;

4. Analyze performance results by using both financial and non-financial performance measurement techniques appropriate for various public sector organizations;

5. Describe the concept of public sector auditing and accountability to stakeholders;

6. Apply internal controls and external audit techniques to public sector organizations with a concern for value for money;

7. Use the CPA Canada Handbook and governmental regulations applicable to the appropriate sector.