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Accounting 2265

Governmental and Not for Profit Accounting


ACCOUNTING 2265

Choosing this Course

This course is an in depth study of governmental and not-for profit entity theory, practice and reporting issues. Emphasis on accounting principles relating to governmental agencies, colleges and universities; health care and not-for profit organizations.

This course is an appropriate choice for students currently working in or planning careers in Governmental and Not for Profit auditing, accounting, finance or management. It is a required course for students pursuing the Advanced Accounting Certificate.

This course was primarily developed for students planning to sit for the Certified Public Accountant Examination (the CPA Exam). Such students typically have already earned baccalaureate degrees and are taking courses at College of DuPage to meet the requirements to sit for the CPA Exam.

Today's CPA

What is a CPA? As stated in an Illinois CPA Society brochure:

"CPAs of today are business advisors and information specialists. That's a stretch from the traditional stereotype of CPAs as back-room number crunchers. CPAs are people-oriented, team workers, and business leaders. They need a solid understanding of accounting and business to be successful. They also need to be able to analyze and resolve complex business problems, working with a diversity of people and new technologies. Strong writing and communication skills are essential."

Course Objectives:

Upon successful completion of the course the student should be able to do the following:

  1. Analyze transactions and solve problems related to general governmental accounting and reporting standards
  2. Analyze transactions and solve problems related to colleges and universities accounting and reporting standards
  3. Analyze transactions and solve problems related to not-for-profit organizations and reporting standards

CAREER OPPORTUNITIES

Occupational Accounting Program:

The Occupational Accounting program at College of DuPage prepares students to become accounting clerks, bookkeepers, junior accountants, bank tellers, credit analysts, auditing clerks and tax preparers. Job opportunities exist in accounting firms, manufacturing companies, financial institutions, insurance companies, service organizations and not-for-profit and government entities.

You may be well-suited for a career in accounting if you:

bean bullet Desire a job with a good starting salary and potential for advancement
bean bullet Like working with people in an office setting
bean bullet Can effectively follow instructions and assume responsibility
bean bullet Enjoy working with numbers and are detail-oriented and organized
bean bullet Would like to combine your accounting skills with state-of-the-art computer technology

Employment prospects for entry-level jobs are expected to be steady for individuals who have accounting skills that are supplemented by excellent oral and written communication skills and strong computer skills.

To advance in the accounting field, students should plan to continue their education after completing their initial program of study at College of DuPage. Educational plans that include transferring to a baccalaureate-granting school will enhance the student's opportunities for advancement.

Transfer Accounting Program:

The Transfer Accounting program at College of DuPage starts students on the road to becoming professional accountants by providing the first two years of college course work. To advance in the accounting field, students should plan to continue their education after completing their initial program of study at College of DuPage. Students who receive their associate's degree from College of DuPage may transfer to a baccalaureate-granting school and earn a bachelor's degree in accounting.

Career opportunities include public accountant, auditor, tax specialist, management consultant, Internal Revenue Service agent, financial analyst, credit analyst, cost accountant and budget analyst. Job opportunities exist in public accounting firms, manufacturing companies, financial institutions, insurance companies, service organizations and not-for-profit and governmental entities.

Educational plans that include preparation for examinations required for certification will further enhance the student's opportunities for advancement. Students should consider earning certification as a Certified Public Accountant, Certified Management Accountant, Certified Fraud Examiner, Certified Internal Auditor and/or Enrolled Agent.

The employment prospects for entry-level positions are very competitive, so a student should be well prepared academically and must possess excellent oral and written communication skills and strong computer skills.