Economics of Markets, Government, and Nonprofits

Overview

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By the end of this course, you will be able to navigate the complex ethical frameworks and professional standards that govern the modern auditing profession. You will learn how to confidently apply the AICPA Code of Professional Conduct to maintain integrity, objectivity, and independence when facing real-world conflicts of interest. Furthermore, learners will benefit from a deep dive into the specific rules that shape different types of professional engagements. You will understand the crucial differences between auditing private entities under Statements on Auditing Standards (SAS) and auditing publicly traded companies under strict PCAOB regulations. What makes this course uniquely valuable is its holistic approach; it not only covers domestic attestation and quality management standards, but also prepares you for global and internal roles by unpacking the IIA’s International Professional Practices Framework and the IAASB’s International Standards on Auditing. Whether you are verifying financial statements for a local startup or managing risks for a multinational corporation, you will gain the foundational knowledge necessary to protect the public interest and maintain the highest levels of audit credibility.

Syllabus

Microeconomic Concepts

In this module, you’ll explore the foundations of microeconomics. You’ll examine concepts such as the market economy, along with demand and supply. By the end of the module, you’ll be prepared to recognize key microeconomic factors and identify how supply and demand work together to inform businesses how to remain competitive in the marketplace.

Macroeconomic Concepts

In this module, you’ll explore the foundations of macroeconomics. You’ll examine concepts such as general types of markets, along with the roles of governments in economics. By the end of the module, you’ll be prepared to recognize key macroeconomic features such as Gross Domestic Product (GDP) and competition in economics.

Governmental and Not-for-Profit Accounting Concepts

In this module, you’ll explore the foundations of governmental accounting concepts and not-for-profit accounting concepts. You’ll examine concepts such as how government entities are organized and how not-for-profit organizations are organized. By the end of the module, you’ll be prepared to recognize key accounting differences between governments, not-for-profits, and for-profit entities.

Applying Economics, Government, and Nonprofits Knowledge

This final module brings everything together. You’ll review key concepts from the course and apply what you’ve learned to real-world business situations. By stepping back and looking across key concepts tied to economics and governmental/NFP entities, you’ll strengthen your ability to analyze how economic concepts impact businesses—skills that are essential for accountants and business professionals alike.