Government & Non-Profit Accounting

This episode breaks down the Single Audit process for government and non-profit entities receiving federal funds. We'll explain its requirements, walk through the essential steps, and explore common quality pitfalls using real-world examples. Perfect for students and anyone interested in public sector accountability.

This episode explores the fundamentals of accounting for not-for-profit organizations, focusing on accountability, financial statements, and the special treatment of contributions and donations. David and Maya unpack the standards, provide real-world examples, and clarify how organizations classify and report their revenues, expenses, and net assets.

David and Maya break down how to reconcile governmental fund statements with government-wide statements. Using real municipal data and practical step-by-step examples, they demystify the rules and common adjustments required for clear public sector financial reporting.

In this episode, David and Maya unravel the complexities of fiduciary activities in government and non-profit accounting, exploring fund types, pass-through grants, investment pools, and the required financial reporting. With insights from real-world examples like the Johnson County Employee Retirement System, they break down how fiduciary funds are structured and why they matter. Whether you're prepping for an exam or just curious, this is your guide to understanding government fiduciary responsibilities and financial statements.

In this episode, David and Maya break down proprietary funds in government accounting, focusing on internal service funds and enterprise funds. Using real-life examples and practical case studies, they clarify accounting principles, financial reporting, and common transactions. Perfect for students and anyone new to public sector accounting.

Dive into the essentials of government operating statements with David and Maya as they unravel the format, purpose, and real-world application of these vital accounting tools. This episode explores government-wide operating statements, fund operating statements, and the intricacies of budgetary accounting with relatable examples and practical exercises.

In this episode, David and Maya explore the foundational principles of accounting and financial reporting for state and local governments. They break down the differences between government-wide and fund financial statements, explain the structure and types of funds, and discuss how fund balances and major funds are classified and reported. Listeners will gain practical insights into how government money is tracked and reported using real-world examples.

David and Maya break down the essential differences that set government and nonprofit accounting apart from for-profit entities. They unpack the structures, standards, and reports that ensure accountability and transparency in the public and nonprofit sectors.