D250 Governmental and Nonprofit Accounting is a graduate course in Western Governors University's Master of Accounting that teaches accounting for state and local governments and nonprofit organizations.
WGU describes it as analyzing and recording transactions, preparing financial statements under Governmental Accounting Standards Board (GASB) standards, and communicating the results. It carries three competency units in the MACC program guide.
Students trained in business accounting find it disorienting at first. Governments use funds, two bases of accounting and two sets of statements, and the question changes from "did we make a profit?" to "did we use resources as the law and budget required?"
Course at a Glance
| Item | Details |
|---|---|
| University | Western Governors University (WGU) |
| Course code | D250 |
| Level | Graduate (Master of Accounting) |
| Competency units | 3 |
| Standards | GASB for governments; FASB for private nonprofits |
| Typical work | Journal entries, fund and government-wide statements, reporting questions |
What D250 Covers
| Competency (summarized) | What it means in practice |
|---|---|
| Explain the government and nonprofit accounting environment | The roles of GASB and FASB and who follows which |
| Record revenues and expenditures in governmental funds | Modified accrual in the funds, accrual in government-wide statements |
| Account for capital assets and long-term obligations | Entries and statement effects for state and local governments |
| Explain business-type, pension and fiduciary activities | Proprietary fund statements and net position |
| Explain financial reporting for governments | Disclosure, compliance reporting and the Annual Comprehensive Financial Report (ACFR) |
Key Concepts Explained
Funds
A fund is a self-balancing set of accounts for a specific purpose. Governments group them as governmental funds (such as the general fund), proprietary funds (business-type activities like a water utility) and fiduciary funds (resources held for others, such as pension trusts).
Two Bases of Accounting
Governmental funds use the modified accrual basis and a current financial resources focus. Revenues are recognized when measurable and available; expenditures when the liability is incurred and normally payable from current resources. Government-wide statements use full accrual, like a business.
Example: A city buys a fire truck for $500,000 cash. In the general fund, it records an expenditure of $500,000; no asset appears. In the government-wide statements, the same purchase is a capital asset of $500,000, depreciated over its useful life. Reconciling the two views is a standard exam and assignment task.
Nonprofits
Private nonprofits follow FASB, reporting net assets with and without donor restrictions. Government-owned nonprofits, such as many public universities, follow GASB.
Typical Assignments and How to Approach Them
| Task type | What it tests | How to approach it |
|---|---|---|
| Fund journal entries | Modified accrual recognition | Ask: is it measurable and available this period? |
| Government-wide conversion | Reconciling the two bases | List each difference: capital assets, debt, accruals |
| Fund classification | Choosing the right fund | Identify purpose and who benefits from the resources |
| Reporting questions | ACFR structure and disclosures | Learn the sections and what each tells a reader |
Budgets and Encumbrances
Budgets carry legal force in government. Many governments record the budget in the accounts and use encumbrances to reserve appropriations when a purchase order is issued, so they can see how much spending authority remains.
Example: A department issues a $12,000 purchase order. It records an encumbrance of $12,000. When the goods arrive with an invoice for $11,800, the encumbrance is reversed and an expenditure of $11,800 is recorded. Encumbrances are a budgetary control and are not reported as expenditures or liabilities in the GAAP statements.
Where Students Get Stuck
- Using business habits in governmental funds. Capital purchases are expenditures there, not assets.
- "Available" revenue. Learn the period your materials use for collection after year end.
- Too many funds. Learn the purpose of each fund type before its entries.
- Mixing GASB and FASB nonprofits. Check who owns the organization first.
Study Tips for D250
- Build a two-column sheet showing every major transaction under modified accrual and full accrual.
- Download one real city ACFR and find each section the course discusses.
- Practice the reconciliation between fund and government-wide statements until it is routine.
- Keep a glossary: appropriation, encumbrance, fund balance, net position.
How We Help with D250
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Frequently Asked Questions
It appears in WGU's Master of Accounting program guide as a three-competency-unit course.
GASB standards for state and local governments, with FASB standards for private nonprofit organizations, as described in the course competencies.
The basis used in governmental funds: revenues are recognized when measurable and available, and expenditures generally when the liability is incurred and payable from current resources.
The Annual Comprehensive Financial Report, a government's full annual financial report including financial statements, notes and supporting information.
Because governmental funds focus on current financial resources, so spending on capital assets reduces those resources and appears as an expenditure.
No. We tutor and prepare study models so you can complete the assessment yourself.