Economics of Markets, Government, and Nonprofits
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Economics of Markets, Government, and Nonprofits
This course is part of CPA Licensure Prep: Special Topics in Accounting Specialization
Instructor: William Karalius
Included with
Recommended experience
Recommended experience
What you'll learn
Identify the core principles of the AICPA Code of Professional Conduct and apply them to navigate conflicts of interest and maintain independence.
Differentiate between the distinct auditing standards required for nonissuers, public companies, internal audits, and international engagements.
Skills you'll gain
- Economics
- Public Accounting
- Standard Accounting Practices
- Accounting
- Financial Auditing
- Generally Accepted Auditing Standards
- Financial Reporting
- Economics, Policy, and Social Studies
- Competitive Analysis
- Internal Auditing
- Certified Public Accountant
- Business Economics
- Non-Profit Accounting
- Auditing
- Governmental Accounting
- Ethical Standards And Conduct
- Supply And Demand
- External Auditing
- Market Dynamics
Details to know
March 2026
5 assignments
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There are 4 modules in this course
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.
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.
What's included
5 videos3 readings2 assignments
5 videos•Total 32 minutes
- Instructor Introduction and Course Overview•4 minutes
- Understanding the Market Economy•6 minutes
- Demand•7 minutes
- Supply•8 minutes
- Supply and Demand Relationships•7 minutes
3 readings•Total 40 minutes
- Course Outline •5 minutes
- The Market Economy•20 minutes
- Supply & Demand•15 minutes
2 assignments•Total 30 minutes
- Practice Assessment: Market Economy•10 minutes
- Graded Assessment: Module 1•20 minutes
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.
What's included
4 videos2 readings1 assignment
4 videos•Total 31 minutes
- Introduction to Markets•8 minutes
- Government's Role in Economics•8 minutes
- Gross Domestic Product (GDP)•6 minutes
- Competition •9 minutes
2 readings•Total 35 minutes
- Macroeconomic Markets•20 minutes
- Competition in Economics•15 minutes
1 assignment•Total 20 minutes
- Practice Assessment: Module 2•20 minutes
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.
What's included
4 videos2 readings1 assignment
4 videos•Total 28 minutes
- Organizational Structure for Governments and Non-Profits•8 minutes
- General Requirements for Governments and Not-for-Profits•7 minutes
- Financial Reporting for Governments •7 minutes
- Financial Reporting for Not-for-Profits•6 minutes
2 readings•Total 35 minutes
- Organizational Structure for Governments and Non-Profits•15 minutes
- Financial Reporting for Governments and Non-Profits•20 minutes
1 assignment•Total 20 minutes
- Practice Assessment: Module 3 V2•20 minutes
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.
What's included
1 video2 readings1 assignment
1 video•Total 3 minutes
- Course Wrap-Up•3 minutes
2 readings•Total 6 minutes
- Review: Course Concepts•5 minutes
- Congratulations and What’s Next•1 minute
1 assignment•Total 40 minutes
- Graded Assessment: Course•40 minutes
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Frequently asked questions
This course is part of a CPA Licensure Preparation series and is designed to support learning and exam readiness. Completing this course does not by itself qualify you for CPA licensure or guarantee eligibility to sit for the CPA Exam. CPA licensure requirements vary by state and are determined by individual state boards of accountancy. Learners should consult their state board to confirm education and exam requirements.
To access the course materials, assignments and to earn a Certificate, you will need to purchase the Certificate experience when you enroll in a course. You can try a Free Trial instead, or apply for Financial Aid. The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile.
More questions
Financial aid available,