Name of University: Wolkite University

Name of College/Faculty: Business and Economics

Name of Department: Accounting and Finance Program
Department Accounting and Finance
program BA degree in Accounting and Finance
Module Title Government and Non-profit Accounting
Module Non-Profit Sector Accounting
Module No and AcFn-3070
Module Code
Course Number AcFn3071
ETCTS Credits 6
Contact Hours 4
(per week)
Course Objectives & After successfully completing this course, the students should be able to:
Competences to be  Identify characteristics and types of government and Not-For-profit organizations (NFP);
Acquired  Understand the budgeting framework of governmental units and other non-profit
organizations and help senior budget officials of the same in developing budgets
 Distinguish the legal and economic substance of transactions as opposed to the nature of
transactions in business organizations;
 Record the transactions and present fairly the financial statements of governmental units
and other non-profit organizations in conformity with legal requirements and accepted
accounting principles
Course Description The course is intended to introduce the accounting and reporting concepts, standards and procedures
applied to governmental units and not –for –profit (NFP) organizations. The course reflects the
distinction between legal form of transactions as opposed to the accounting system for business
Enterprises and the substance of transactions.
WEEKS Course Contents Reading
{1ST- 2ND } 1. Overview of Financial Reporting for Governmental & NFP
Entities
1.1 Distinguishing characteristics of Governmental & Not- for- Profit
entities.
1.2 Sources of financial reporting standards for Governmental and NFP
entities
1.3 Objectives of financial reporting in NFP entities
1.4 IPSAS versus IFRS
1.5 The Conceptual Framework for Public Sector Accounting [The
IPSASB]
1.6 Fundamental concepts of Recognition, measurement, and disclosure
concepts
{3RD } 2. Principles of accounting and financial reporting of governmental entities
a. Activities of government b. Summary statement of principles
c. Summary Accounting characteristics of fund types
d. Budgeting and uses of budget e. Classification of budget
f. Approaches to budgeting
{4TH } 3. International Public Sector Accounting Standards [IPSAS]
3.1 Activities of Government
3.2 Impairment of Non-Cash-Generating Assets [IPSAS 21]
3.3 Disclosure of Financial Information about the General Government Sector
[IPSAS 22]
3.4 Revenue from Non-Exchange Transactions (Taxes & Transfers) [IPSAS 23]
3.6 Presentation of Budget Information in Financial Statements [IPSAS 24]
3.7 Cash Flow Statements [Cash Basis IPSAS]
{ 5TH } 4. Budgeting and Performance Reporting
4.1 Budgeting in the Public Sector
4.2 Classification of budget
4.3 Approaches to budgeting
4.4 Budgets and Outturn Reporting (IPSAS 24)
4.5 Performance Budgeting and Reporting
{6TH- 7TH} 5. Accounting for General and Special Revenue Funds
5.1 Definitions and purposes
5.2 Budgetary accounting
5.3 Revenue accounting
5.4 Expenditure accounting
{8TH- 9TH} 6. Accounting for Capital Project Fund
6.1 Definitions and purposes
6.2 Classification of general capital assets
6.3 Sources and uses of cash flows
6.4 Methods to acquire general capital assets
6.5 Illustration on capital project fund
7. Accounting for Debt Service Fund
7.1 Definitions and purposes
7.2 General long-term liabilities
7.3 Sources and uses of cash flows
7.4 Illustration on debt service fund
{10TH } 8. Accounting for Internal Revenue Funds
8.1 Accounting principles of proprietary funds
8.2 Financial statements of proprietary funds
8.3 Illustrative entry for proprietary propriety funds
8.4 Financial statements of proprietary funds
{11TH } 9. Accounting for Fiduciary Funds
9.1 Features of fiduciary funds
9.2 Accounting principles of fiduciary funds
9.3 Accounting for agency fund
9.4 Accounting for trust funds
{12TH } 10. Accounting for Other Not-for-Profit Entities
10.1 Characteristics of Non-governmental NFP organizations
10.2 Charities and societies law in Ethiopia
10.3 Financial reporting and accounting for NGOs
{14TH } 11. Accounting and Reporting for the Federal Government of Ethiopia
a. Historical overview of Ethiopian Government Accounting
System
b. Federal Government Ethiopia Financial Management Structure
c. FGE Chart of accounts
d. Overview of IBEX and IFMIS
e. Basis of accounting
f. Legal Framework of FGE Financial Administration
g. Monthly Reports
h. Annual Financial statements
i. Federal Audit report
Teaching & Learning The teaching and learning methodology include lecturing, discussions, problem solving, and
Methods/strategy analysis. Take-home assignment will be given at the end of each chapter for submission within a
week. Solution to the assignments will be given once assignments are collected. Cases with local
relevance will also be given for each chapter for group of students to present in a class room. The
full and active participation of students is highly encouraged.

Assessment/Evaluati
on The evaluation scheme will be as
 follows: Test Test Test Assignment 1 Final Total

Quiz1 10% 50% 100%

1 2 3
10% 10% 15% 5%
Work load in hours
Hours Required
Total
Assess Tutori Self- Assign Advi ECTS
Hrs
Lectures Lab ments als Studies ment sing
64 - 20 24 54 - - 162 6
Roles of the Instructor He/she will come to the class regularly on time and deliver the lecture in a well-organized
manner. Besides, at the end of each class he/she gives reading assignment for the next class.
He/she will make sure that proper assessments is given. He/she is also responsible to give
feedback for each assessment.
Roles of the students The success of this course depends on the students‟ individual and collective contribution to the
class discussions. Students are expected to participate voluntarily, or will be called upon, to
contribute to set exercises and problems. Students are also expected to read the assigned readings
and prepare the cases before each class so that they could contribute effectively to class
discussions. Students must attempt assignments by their own. Proficiency in this course comes
from individual knowledge and understanding. Copying the works of others is considered as
serious offence and leads to disciplinary actions.
Text and Text Book:
reference  Accounting for Governmental and Non-Profit Entities, 15th edition, by Wilson,
books Kattelus, Hay. McGraw-Hill/Irwin Inc., USA, 2010.
 Aggestam-Pontoppidan, C. (2015). Interpretation and Application of IPSAS.
John Wiley & Sons.
 Freeman, R. J., Shoulders, C. D., Allison, G. S., Smith Jr, G. R., & Becker, C. J.
(2014). Governmental and nonprofit accounting: theory and practice. JPAEJOURNAL OF
PUBLIC AFFAIRS EDUCATION VOLUME 20 NUMBER 3, 441.
Reference Proclamations
1. Proclamation No. 847/2014, Financial Reporting Proclamation, 2014.
2. Proclamation No. 621/2009, Charities and Societies Proclamation, 2009.
3. Proclamation No. 648/2009 The Federal Government of Ethiopia Financial
Administration Proclamation