All organizations (business, governmental and nonbusiness organizations) must account for their revenues and expenditures. But since they acquire revenues in different ways for financing their expenditures, they face different management control problems (in the form of acquiring revenues for financing expenditures incurred). This situation implies that they prepare different types of revenue and expenditure accounts, or in other words, use different types of financial accounting models: commercial accounting, fund accounting or cameral accounting.
The course will give an introduction to these different accounting models, focusing on use when preparing the accounts of governmental and non-business organizations. In this regard, the use of a precise accounting terminology is given special attention, where the revenue and expenditure concepts are considered as the main accounting concepts.
The course will also give an introduction to accounting, such as it is prepared in practice by governmental and non-business organizations Furthermore, since there is a strong link between accounting and budgeting in these organizations, accounting and budgeting will be seen in relationship with each other.
Topics:
• purpose of preparing financial accounting
• accounting terminology (revenues and expenditures)
• different accounting models (commercial accounting, fund accounting and cameral
accounting)
• accounting for governmental organizations (state and municipalities)
• accounting for non-business organizations
• international development of accounting for governmental and non-business
organizations