[BBHYX]

Hi everyone,

I got to the government chapters in Becker today and realized exactly how much I underestimated it. I have not taken any government/nonprofit accounting classes before and this stuff really is like another language! New Becker also doesn’t present the materials in a logical way – I know a lot of little bits and pieces but cannot grasp a big picture which has me very frustrated.

For those of you who got comfortable with government material without taking a class, or passed far without taking a class on the subject, I’d appreciate any advice on how to tackle this as I know it’s heavily tested.

It it enough for me to just memorize memorize memorize without really understanding? Will becker / ninja MCQ cover the most tested topics? How many hours did you it take to get comfortable with this area with no previous exposure? I am already planning on adjusting my study schedule to put more time here but any additional study suggestions are appreciated.

[Mike J]

Government

Let the name of the fund be your guide. eg Agency funds only have cash and transfers in it. There is no fund balance or income.

Know the basic budget and transaction JEs. Expenditure not expense, how encumbrances work.

Know the basic Financial Statements.

There's more but that's the top three.

…

NFP (non govt)

Keep in mind what makes something NONprofit. The emphasis is not on the bottom net income amount. Instead, you want to let external users know that you are achieving the mission statement, including using resources properly.

For instance, recognize donated accounting services (when you're a big shot CPA you will want to give back, right?). It is a simultaneous entry of an expense (Dr) for the expense the NFP would have had to incur AND a revenue (CR). As you may notice, this is a wash.

Speaking of income, know the differences between Permanent Restricted, Temporarily Restricted and Unrestricted Revenue. Know when/how to transfer funds among them. eg Unrestricted is used to pay for expenses that the NFP needs to operate the entity.

…

Hope that helps.

[BBHYX]

@mike thanks for the tips and focus points. I've mainly given up on becker and turned to youtube and googling to learn the material.

[Mike J]

I don't blame you. I know a lot of people here swear by Becker. It's too simplistic and overpriced.

You're welcome. I try to pay things forward.

[Author]

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