Reviews history of different approaches to public budgeting and examines the budgeting process in government. Examines the development of public planning at all levels of government with an emphasis on budgetary process. Gives consideration to revenue sources, administration, and structure. Lecture 3 hours per week.
GENERAL COURSE PURPOSE
PBS 116 introduces the functions, structures, context, processes, and procedures of financial management and budgeting in the public and non-profit sectors.
ENTRY LEVEL COMPETENCIES
No prerequisites or co-requisites. Students should be able to read and comprehend college level instructional materials.
Upon completion of this course, the student should be able to understand:
B. The interrelationship of the accounting system and the budgeting system.
C. Accounting practices of governmental and not-for-profit organizations (tracking financial information).
D. Financial statements.
E. The budgetary process (approval, adoption, and allocation).
F. Budgeting and financial terminology. Using budgetary and financial information to make managerial decisions.
G. Budgetary and financial information to make managerial decisions.
2. Current standards applied to public and not-for-profit organizations
3. Overview of accounting
and budgeting subsystem
2. Six types of funds and fund structures
3. Interactions of
funds and method for categorizing the interactions
2. Information processing
E. Financial Statements
2. Balance Sheet
3. Statement of Changes in Fund Balance
2. Integration from the beginning of the year to the preparation of financial statements
2. Three types of adjustments—expenses and revenues, inventory, and depreciation
3. Methods used to calculate inventories and depreciation
2. Areas of audits
3. Audit techniques
4. Final report
6. Importance of reliable and valid financial information